Merchant
Services |
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| Types
of Processing Offered: |
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Retail |
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Mail/Telephone
Order |
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Internet |
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Community State Bank is pleased to be able to offer Credit
Card Processing to our Business Customers MasterCard/VISA
acceptance adds more payment options to your business as well
as convenience to your customers.
In
today's competitive marketplace, merchant transaction processing
of MasterCard/VISA can give you a definite advantage over
the competition. The following is a brief outline of the Community
State Bank Credit Card Processing Program. It is designed
to help you make your decision to enter the MasterCard/VISA
transaction processing world. (Keep in mind that to participate
in the Community State Bank Credit Card Program, you must
have an existing Business checking account at Community State
Bank.) |
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| Merchant
Processing Fee |
Monthly
Statements |
| Minimum
Discount Fee |
Card
Imprinter and Plates |
| Merchant
Processing Application Fee |
Sales
Slips |
| Electronic
Data Capture (EDC) Equipment |
MasterCard/VISA
Signage |
| Electronic
Data Capture Terminal Printer |
Final
Notes |
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| Merchant
Processing Fee |
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| As
part of the EFT system there are transaction fees, authorization
fees, MasterCard/VISA fees and statement fees. When
applying for a merchant account with Community State
Bank all these fees will be disclosed. These fees will
vary depending on your merchant type, sales volume,
ticket size, and processing method. These rates are
monitored and adjusted (if appropriate) on a semi-annual
basis. |
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| Minimum
Discount Fee |
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| In
order to cover the cost of line fees, processing fees,
authorization fees, MasterCard/VISA fees and account
maintenance, a minimum fee of $15.00 per month is set
for all merchants. |
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| Merchant
Processing Application Fee |
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| The
application to become a processing merchant must be
accompanied by a $50.00 fee. This fee covers the application
processing and the electronic merchant setup for a new
account on the EFT processing system. If for any reason
the merchant is not approved for processing, this fee
will be fully refunded. |
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| Electronic
Data Capture (EDC) Equipment |
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| All
merchants will be required to be on the EFT processing
system. (Community State Bank no longer accepts paper
merchant processing.) By using the EFT processing system,
all funds will be electronically deposited into your
business checking account automatically. Options for
Data Capture range from Dial-Pay (telephone capture)
to stand alone terminals, to P.C. programs. Please call
for current terminal pricing. The merchant does have
the option to obtain other machines, but the machines
must be compatible with our processing program. |
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| Electronic
Data Capture Terminal Printer |
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| The
EDC terminal printer is optional for the merchant. Community
State Bank will make them available and compatible with
the terminal you select. |
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| Monthly
Statements |
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| All
merchants will receive a monthly statement of sales
volume that will reflect a breakdown by MasterCard/VISA
transactions. This statement will also reflect the discount
fee assessed for that statement. This fee will be automatically
debited to your Business account. |
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| Card
Imprinter and Plates |
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| The
card imprinter and plates are available through Community
State Bank at a cost of $15.00. (Not necessary when
purchasing an electronic printer.) |
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| Sales
Slips |
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| MasterCard/VISA
sales slips are provided at NO CHARGE by Community State
Bank. |
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| MasterCard/VISA
Signage |
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| MasterCard/VISA
window decals and plastic tent will be provided at NO
CHARGE.
(MasterCard/VISA metal outdoor signs also available
at cost.) |
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| Final
Notes |
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| It
is suggested that when you use the EDC terminal, you
use a dedicated line for transmitting. Each merchant
is responsible for retaining the original sales slip
for all transactions for a period of no less than three
years. Any sale accepted by the merchant will be directly
deposited to the merchant's business checking account
as it clears through the EFT System. The ongoing monitoring
of the Discount Rate will be based on actual sales volume
(transactions) and the average sales ticket amount.
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