Frequently Asked Questions

What is a Merchant Account?

A merchant account is a commercial account that enables you to accept credit card transactions. It handles the transfer of funds from your customers’ cards to your bank account.

How long does it take to start accepting credit cards?

Once you complete the application, we’ll have you ready to accept credit cards in about 2-3 business days.

Which credit cards will I be able to accept?

Visa and MasterCard acceptance are included with all of our merchant accounts. We also have special enrollment programs for American Express® and Discover®. You may request additional cards on your merchant application, or ask one of our representatives for details.

How do I receive my funds?

The funds from your transactions are deposited directly into the checking account you specify on your merchant application.

When do I receive my funds?

Credit card transactions generally take about 1-2 business days to deposit into your checking account.

I like my rate but I don't like the monthly fee?

We can waive your monthly fee for additional savings when you purchase your terminal at our cost.... ask your sales consultant.....it's that easy.

I like my rate but I don't want to lease the terminal?

Purchase your terminal at our cost and keep the great rate. (Keep in mind our lease option comes with a lifetime warranty with free overnight replacement.)

How do you offer such low rates?

BMR with First Data Resources process more than 55% of all the Credit Card Transactions in the USA. Because of our size and volume your local bank and other competitors can't compete. Think of us as the Walmart or Costco of credit card processing.

Is this a teaser rate and goes up once I sign up?

Our Large Corporate Pricing^® is fixed for 3 years or as long as you are a BMR customer....now that's peace of mind.

Are there any hidden fees?

If there were we would lock you into a contract and charge a cancellation fee. You will never be charged a cancellation fee of any kind for your merchant account with BMR. Our motto "it's easier to keep an existing client than to find a new one."

What is AVS?

AVS stands for Address Verification Service. It verifies the cardholder’s billing address in order to help combat fraud in card-not-present transactions, such as Internet and mail/telephone order. This service is only available for credit card transactions within the United States.

I already have a credit card terminal. Can I use it to process with BMR?

In most cases, you will be able to reprogram your existing equipment to use with BMR. For reprogram customers you will be eligible for no monthly fees for even more savings. Give us a call and start saving today!

I am switching to BMR from another processor. When should I inform my current processor that I will be closing my account?

You should wait until your new account is fully set up and you’ve successfully processed transactions with BMR.

Can I have both a terminal and an internet payment gateway?

Yes. If you have the need for both a credit card processing terminal and an internet payment gateway, we will accommodate you.

Do I have a cancellation fee for my merchant account?

No. You will never be charged a merchant account cancellation fee. To cancel, simply call BestMerchantRates.com®® Customer Service at 866-576-5757.

What is Pass Through of ACQ ISA Fee?

This is an universal fee that all processors may charge if applicable. If you do not take international cards this does not apply.

EFFECTIVE APRIL 1, 2008, VISA IMPLEMENTED A NEW INTERNATIONAL SERVICE ASSESSMENT (ISA) FEE FOR CERTAIN ELIGIBLE INTERNATIONAL TRANSACTIONS. FOR THESE TRANSACTIONS, VISA WILL CHARGE A FEE OF 0.15% FOR CASH ADVANCE (FOR BANKING INSTITUTIONS) AND ATM TRANSACTIONS AND 0.40% FOR SALE TRANSACTIONS. THE ISA FEE WILL BE ADDED TO YOUR ACCOUNT AS APPLICABLE AND WILL BE DESIGNATED IN THE SUMMARY OF CARD FEES SECTION ON YOUR STATEMENT AS ACQ ISA FEE.