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Frequently Asked Questions (FAQs)

Below you will find a list of the most commonly asked questions. If you do not find your question listed below, please feel free to contact Metro Bancard™ via telephone at 877.987-METRO (877.987.6387) or via e-mail at

Why should I select Metro Bancard™ over other service providers?

We offer all our merchants and business partners the Intelligent Merchant Services™ program, which allows you to receive the lowest rates in the industry. The key to our Intelligent Merchant™ Services program is that we offer our customers bank rate of interchange pass through pricing. Interchange pass through pricing is the most transparent and simple pricing model in the industry. 99% of service providers try to push you into a three-tier pricing structure, which includes a low teaser rate. Unfortunately, despite what you are told or not told prior to signing a contract, less than 1% of transactions will fall into that low teaser rate. As a result, you will often pay the higher processing rates reflected in each of the larger buckets. Merchant Bancard™ strives to partner with our customers and help them grow. We offer you the best rates in the industry from the beginning so you continue to stick with us year after year. Compare our wholesale rates and upfront no hidden fee pricing structure with that of your current provider and we are certain you are paying more than you should to accept credit cards.

What is a merchant account or credit card merchant account?

A merchant account is an account with each respective credit card merchant company including Visa, MasterCard, American Express, Discover and JCB, which allows you, a registered business, to accept credit, debit and gift cards, as well as electronic checks, from your customers. All accepted funds are then placed into the bank account of your choice within 1-4 business days of the transaction date.

What are Interchange Pass Through Rates, Bank Rate and Wholesale Rates?

In the world of merchant accounts, the terms Interchange Pass Through Rates, Bank Rate and Wholesale Rates are often synonymous. These are the lowest rates that the respective bank is willing to process the transaction on your behalf. Typical credit card service providers will use the three-tier pricing model to draw you in with the teaser lowest fee bucket but classify almost all transactions in the upper two tiers in order to capture the difference between the rate they charge you and the rate the bank charges them to process the transaction. Metro Bancard™ offers you the true wholesale rate plus a nominal percentage to cover our ongoing customer service and support costs.

Why do these Interchange Rates or Wholesale Rates Differ?

The easiest explanation is that these rates differ because banks charge differ percentages to process the transaction based on the card type and if the physical card is present at the time of purchase. Debit cards swiped by the customer at the time of purchase usually provide the lowest rates for the merchant because the respective credit card company is not providing the customer with a line of credit. This is usually the only card type that falls into the low teaser rate of the three-tier pricing model offered by other merchant service providers.

Credit cards that tend to offer miles, points or cashback tend to have higher wholesale rates as the merchant subsidizes this ongoing promotion by the bank. Furthermore, online transactions with or without the three or four digit security code are leveraged different fees.

What is a basis point?

A basis point is 1/100 of 1%. One basis point is equal to 0.01.

How do I apply for a Merchant Account?

To have access to our great rates, you are welcome to apply online or via telephone at 877.987.METRO (877.987.6387).

What information do I need to apply?

In order to apply for a Merchant Account, you will need to provide the following:

1. Business name, address, and Federal Tax ID or Social Security number.
2. Contact details of all owners including a copy of a government issue ID.
3. Voided check from the bank account where you would like funds to be deposited.
4. Three recent months of statements from either a previous merchant account or current bank statements or utility bills.

Which credit cards will I be able to accept upon approval?

Upon approval you will be able to accept Visa, MasterCard, American Express and Discover cards. American Express and Discover require a separate approval from Visa and MasterCard but we will process the application on your behalf at no additional cost to you.

I am paying too much for credit card processing from another service provider. Should cancel my account before I apply for Metro Bancard’s Intelligent Merchant Services™ program?

No, you should not cancel your current service until your new account is approved through Metro Bancard™. If you would like to know how much money you would save wit Metro Bancard™, please fax the last three months of current merchant statements to 866.803.5101.

Will I need to purchase any additional equipment or a credit card terminal?

If you currently have a credit card terminal then we can likely just reprogram your terminal to work with your new account. If you do not want a terminal then we can provide you with an internet based terminal, which you can use to process payments.

How can I reprogram my current credit card terminal?

After you are approved by Merchant Bancard™, our Support Specialists will assist you in reprogramming your terminal. Alternatively, if you would like to buy or lease a new terminal from us then we would be happy to find the perfect technology solution to fit your needs.

Will I be trained on the software or hardware that will I use to process credit card transactions?

Yes, during the set-up process we will ensure that you are comfortable with using your account and understanding your merchant statements. We offer full business and technical support every minute of every single day.

What types of business accounts do you approve?

We accept all legitimate business accounts. We do not approve applications from illegal businesses including online gambling.

Are any per Transaction Fees applied?

Yes, per transaction fees are applied. Check our rates table to see our nominal fees associated with accepting credit card transactions. As always, we offer fully transparent pricing.

What is ABA Routing Number?

An ABA routing number is a unique number used to identify banks in the United States. In this case, your ABA routing number will be used to transfer funds into your desired bank account.

What is a Card Present or Physical Card Present Transaction?

A card present transaction or physical card present transaction is when the customer provides you, the merchant, with the physical card at the point-of-sale. Physical card presents transactions are less risky for the bank and therefore you are charged at a lower processing rate.

What is a Card Not Present or Physical Card Not Present Transaction?

A card not present transaction or physical card not present transaction is when the customer does not provide you, the merchant, with the physical card at the point-of-sale. Physical card not presents transactions are more risky for the bank and therefore you are charged at a higher processing rate. Examples of card not present transactions are internet and Mail Order/Telephone Order (MOTO) transactions.

What is MOTO?

MOTO is an acronym for Mail Order/Telephone Order transactions.

Why should I process a batch or batch out every night?

The term batch or batch out is used for when you close out the daily sales and credits every night for payment to your account. Processing a batch manually or automatically every evening will provide you with the best possible rates. Metro Bancard™ automatically programs your account to batch every evening so you can receive the best rates at all times.

Why does my business need to accept credit cards or debit cards from my customers?

The majority of payments in-person and almost all payments online are accepted via credit or debit cards. The ability to accept credit cards may increase your sales revenue and credibility as a merchant.

Is a new bank account needed to set up a merchant account with Metro Bancard™?

No, you can use your current bank account to receive your funds.

How long does it take to apply for a new account?

Once all completed and signed documents are received, new accounts usually setup within 2-4 business days.

How long does it take to receive my money for a credit card transaction?

Funds will be forwarded to your bank account on file within 1-2 business days after your batch is closed.

What if I have questionable credit?

Credit ratings are not the only input used to approve or deny a new Merchant Account.

My business incorporated outside the United States. Can I still sign up for a merchant account?

No, we can only accept companies located in the United States with a US-based bank account.

When will I receive a monthly statement?

Yes, we will provide you with a paper or electronic statement on a monthly basis.

What is a Assessment Fee?

Fees paid to the card brands for administrative and marketing costs. This is a percentage of the sale that is passed through interchange.

What is AVS or Address Verification System?

AVS or Address Verification System is a tool used to prevent fraud. AVS compares the contact details on file against the address details provided by the customer at the point-of-sale to ensure an authorized party is using the card number.

What is a Chargeback or Chargeback Fee?

A chargeback happens when the cardholder or card issuer dispute a transaction. A flat-fee may be charged by the merchant processor to cover management of the dispute. This is an ad hoc fee charged on a case-by-case basis.

What is a Retrieval Fee?

A Retrieval Fee is a request by the processor to the merchant to provide a legible copy of the original signed sales receipt. This is an ad hoc fee charged on a case-by-case basis.

What is an Equipment Fee?

An Equipment Fee is a fee charged for Point-of-Sale (POS) terminals, printers and any other equipment used by the merchant. In many instances, there may be no need for any equipment fees as Merchant Bancard™ can set her up you up with a virtual terminal, which is internet based.

Is there a Monthly Minimum?

Merchants must pay a minimum amount of fees each month to cover costs from the provider to maintain the account. If the merchants monthly fees do not equal or exceed the monthly minimum, they will be charged the difference between there fees and the minimum fee requirements. A monthly fee of $25 is required for free loaner terminal program. So if your discount rate fees total $20 for the month, you would be charges $5. If your discount rate total is over $25, you will be charged nothing. With the interchange pricing program, the basis points charged to the merchant count towards the monthly minimum fee

What is a Maintenance Fee?

A fee charged to the Merchant account after the initial set up.

What is a Set Up Fee?

A one-time fee charged by the processor for establishing the Merchant’s account or services.

What is a Supply Fee?

A fee charged to the Merchant for supplies, such as printer paper, sales and credit drafts, and printer cartridges.

What is a Swap Fee?

A fee charged for exchanging Merchant’s current equipment, such as POS terminals, printers, and imprinters, for different, new, or updated equipment.

What is Average ticket?

The average dollar amount of all items the merchant sells in goods or products.

What is a Early Termination Fee or ETF?

A fee charged to the merchant for the termination of the account prior to the end of the contract date.

What is a Guarantor?

One who guarantees the obligation of the terms of the contract and has a legal duty to fulfill it.

What is an Agent?

Agents are Individuals who sell bankcard services to merchants on behalf of acquirers, processors or ISOs. Also know as merchant level salespeople (MLS) or Independent sales agents (ISAs) Most agents are independent contractors.