Frequently Asked Questions

  • What specifically is a merchant account and what are the business benefits?
    • Merchant accounts are commercial bank accounts that are created from contractual agreements between banks and your business. This enables you to accept credit card payments from customers. The major benefit of accepting credit cards is a large increase in sales. This increase is often between 40 to 100%. It has been proven in many case studies that accepting credit cards increases customer service and convenience, credibility and sales.
  • What is required to start a merchant account and immediately begin to accept credit cards?
    • There are only minimal requirements to start and open a merchant account. You need:

      Checking account for your business
      Your business’s physical address or website address.
      Selling a product that is not considered restricted

      NBS works with merchants if you are attempting to open a merchant account and you are experiencing difficulties or you have a low credit score. Call 800-353-6686 to speak to a customer service representative. You may also apply online and a sales representative will contact you soon with all the information you need to get started.
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  • How can I get the money from the credit card sales?
    • Although you do not have a physical business, you can access quick credit card processing that allow you to accept online orders within sections. NBS can also help you connect your online shopping cart with payment gateway technology. Click below to apply for the online merchant account now and start receiving funds to your checking account.
  • What do I need to know to accept credit card payments over the Internet with my website?
    • This depends on what merchant account you are using, as some funds may take longer than others to arrive in your checking account. The most common amount of time you need to wait is about 2 business days. If you are an Internet business owner, click here to view how a customer’s funds go from the customer, to your website, and finally to your checking account. Retail and physical business owners should click here to see how funds are received after a credit card is swiped and processing as a POS cash register. Mail order or telephone order business owners should click here to find out how money goes from the customer’s credit card to your account, even though you never physically see the credit card. Mobile business owners should click here to see how credit cards are processed for on the go businesses.
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  • Can I accept checks via my website?
    • Definitely! NBS offers online check processing, known as our ACH services. We are specialists within the check processing field, allowing you to starting accepting checks within minutes. Click below to read about our ACH services and how our virtual terminal will allow you to accept checks, as long as you have an Internet connection.
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  • There are some customers that only use checks and not credit cards; should I seriously consider this?
    • Since this is possible, more so within certain businesses, NBS generally recommends that you find a way to provide checking payment services for these customers. If you refuse a check, this may mean that you are refusing a sale, and many businesses cannot keep up this behavior for long. Checks are still commonly used for convenience, or because uses do not have the funds on their credit cards. NBS’s check processing function is easy to add to your account, and this will allow you to get paid via check if the checks are issued online, in person or over the phone.
  • These fees are less costly than I anticipated, are there any hidden fees?
    • Each and every fee is placed in the merchant application form. We want to help you understand every fee and cost before you sign up with is. Contact us if you are having trouble understanding any of the charges. Contact Us
  • What can I do to minimize fraud, and what fraud services do you have?
    • NBS’s virtual terminal program features security programs. Including several useful features like “User Ban” that allows you to block certain users, and “Threshold Control” that enables you to edit transaction rules that are potentially fraudulent. We are confident that this will help you minimize fraud.

      These simple guidelines will help you assert the risk for fraud, and they are easy to implement. These guidelines can be applied online, in person, or over the phone, and you should check every transaction by using these rules:

      Have common sense: When it comes to fraud, the business is ultimately responsible. Because of this, ask any suspicious customers questions if they buy an unusually large amount of items or if they are acting suspicious.

      Ask for ID on every check transaction: When you are receiving a check, it is not illegal to ask for ID or a driver’s license, and you should always do this to have some ID on the customer. After the customer signs a check, verify it by checking the customer’s credit card signature so you can ensure the signature is correct.

      Verify the CVV2 and CVC2 numbers on the credit card: Visa and MasterCard use these verification numbers to protect you when processing in person, from the mail or telephone or online. Always use them! Three digits area located on the back of every credit card and nearly all debit cards following the 16 numbers on the signature panel. The card’s magnetic band will not have this information, and the receipt will not either, so check the card beforehand.

      Submit the code with the order and if you see suspicious behavior, you will know who is to blame.

      Address Verification: Every merchant account includes this feature, and you should take advantage of it. Request someone’s billing address when you processing anywhere and then place the address information with the rest of the order forms, and the address will be verified.
  • How long does it take for my application to be processed?
    • This is typically done within several hours after you apply to accept customers’ credit cards. NBS Risk Management is great in quickly working through your application, so we can get you up and running within a few short time.
  • Does my business receive a transaction statement on all process payments?
    • You will get a detailed statement and report for each credit card payment. NBS merchants are also able to access online report each day, every day at any time.
  • Do you offer a guarantee on my funds?
    • Customers have the right to fight credit card charges with their bank. If any charges are challenged, your merchant account will receive a request for information showing that the sales was made by the customer. Banks may also cancel a customer’s credit card at any time. Merchants should participate in due diligence for protection against people that steal and use credit cards.
  • What is NBS’ policy on Refunds and Disputes?
    • When customers or merchants contact NBS about charges on their card and request a refund, NBS will talk with the merchant and he or she will have 48 hours to respond to the customer’s request. After 48 hours, if the merchant is unresponsive, the customer is automatically issued a refund. When the merchant does respond, the customer will get email notification of the message. Both parties can then work together to resolve the problem.
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