Frequently Asked Questions
Twenty Questions with Advantage Bank Card Services
1. What is Merchant Account Processing?
Merchant account processing are services provided by a bank or a third-party processor on behalf of a bank. ABS, through its partners, provide such functions, which are not limited to but include: authorization of credit and debit cards, settlement of funds, deposit of funds, merchant billing, and account reporting.
2. Who is ABS?
ABS is a certified merchant services agent. We offer a wide array of payment processing options and platforms for the authorization, settlement, and funding of electronic payment transactions. With over 25 years of combined experience in the payment processing industry, ABS provides solutions for virtually all industries throughout the United States.
3. Why do I need to accept credit and debit cards?
Credit and debit card usage is exploding at a rate of over 20% annually! More and more people are using their credit and debit cards to pay for merchandise every day. It is more convenient for consumers, which translates into more sales for you. So it's never been more important for businesses to accept credit and debit card payments. Plus, it helps to manage your cash flow, and streamline your back office processes.
4. How can ABS help me?
ABS will provide you with faster transaction approvals and easier settlement of your rapidly increasing credit and debit card sales. We process every major credit and debit card, plus provide a wide range of the latest equipment and services to lower the overall cost of your credit and debit card sales.
5. How is ABS different from their competition?
Our fast and dependable customer service distinguishes ABS from other processors. Offering our customers “low net cost” programs enables ABS to be a leader in the industry with over two decades of experience. We are dedicated to revolutionizing non-cash payment opportunities for our customers. Whether you are a single terminal operation, a national chain with thousands of locations, or a Web store, ABS can provide you with complete electronic payment processing capabilities.
6. How do I apply for a merchant account?
To apply for a ABS merchant account, call our new business line at 1-800-565-9111 ext 18 or complete our online Request for More Information form. An ABS representative will contact you within 2 business days to assist you with the application process. Depending on your unique situation, you may be required to submit additional information with your application.
7. What type of bank account do I need?
Any standard business checking account is preferred. However, if you choose to deposit your funds into another type of bank account, your bank must allow your account to be credited and debited via ACH methods. Generally, no new bank accounts are needed to establish an account unless it is a new application and no account yet exists.
8. How long will it take to setup my merchant account?
The length of time it takes to setup your ABS account relies on the entirety of your submitted application and the validity of the information provided. An account can be approved any time from a few days to few weeks, depending on the complexity of the situation. Once a merchant account is approved, it will only take a couple of days before you’re accepting credit and debit cards.
9. What cards will I be able to accept?
ABS processes every major credit and debit card including Visa®, MasterCard®, American Express®, Discover®, Diners Club®, and JCB®.
10. What equipment do I need to accept credit cards?
ABS is committed to bringing you the latest, most technologically advanced, user-friendly equipment in the industry. And we offer both purchasing and leasing options for an extensive offering of industry-specific point of sale (POS) equipment including:
o Terminals
o Printers
o PC Solutions
o PIN Pads
o Check Verification Services
o E-Commerce Solutions
o Reporting and Reconciliation Tools
Additionally, we offer variety of other POS equipment, applications, and services, including certified Value Added Reseller (VAR) applications.
11. Can I use my current processing equipment with ABS?
Yes, the majority of customers can use their own POS equipment with the ABS processing platform, we do our best to support the equipment currently used. However, if we do not support your current solutions, we will assist you with the required development effort.
12. What kind of training do you provide?
ABS will schedule training with your initial setup. We have the technical and processing expertise to ensure that you and your staff have a smooth transition with operating your new processing system. And we are always willing to continually educate you on processing requirements and changes.
13. How will I receive payment for these transactions?
Funds are automatically transferred to your business checking account via an electronic transfer typically within a few days from settlement and usually within 48 hours.
Please note that online processing funding varies. Please talk to a ABS representative for details regarding online processing.
14. Will I receive a merchant account statement?
Yes. As an ABS customer you will receive a comprehensive statement, which details your month’s electronic payment transactions. In some situations, you also have the option of choosing an online or paper statement.
15. Do I need to have a physical storefront?
ABS does not require a physical storefront. We have many Internet merchants and mail order accounts that operate from a residence and currently utilize our processing services.
16. If I want to conduct business both traditionally and online do I need two separate accounts?
Yes. Financial institutions and the Visa / MasterCard Associations have different criteria for evaluating the potential risk involved in credit card transactions where the card is not physically presented to the merchant. Internet-based transactions fall into these categories. For this reason, separate merchant account numbers are needed to differentiate your retail and Internet-based transactions.
17. What are your Client Services hours?
Our Client Services support never ends. We are available and ready to assist you with general concerns, terminal help, supplies and more around-the-clock, 365 days a year!
18. I have special processing requests, how will I know if your merchant services can be integrated with my current systems?
ABS has many options for merchants with unique processing situations. We will propose a scenario that will assist you with integrating a complete electronic payment solution with your current systems, call 1-800-565-9111x18 for more information.
19. How do I know that I am receiving the best prices available?
At your request, ABS will provide you with a complimentary price analysis.
20. If I have more questions about becoming a processing merchant with ABS, who can I contact?
Please call our toll-free, new business line at 1-800-565-9111 x18 to reach an Account Specialist who can answer your questions or click below and submit your request.
