The money you take from card purchases will go into your merchant account first, before it’s transferred directly to your business bank account.
A merchant account is simply an online bank account set up with an independent payment processor – so it’s separate from your business bank account.
Your merchant service provider (also known as an acquirer) will ensure the funds are available on the card being used for the transaction, and we’ll manage the whole process through to settlement of payments into your bank account.
As your merchant account processes each card transaction, it deducts either a percentage or a flat-rate fee (depending on your contract) and then it deposits the remainder in your bank account.
You’ll then receive a statement at the end of each month detailing all your card sales and refunds.
We use our 20 years of experience and expertise to ensure the whole process is simple, automatic and stress free.