ATM - Frequently Asked Questions
Who gets the surcharge?
The owner of the ATM determines how the surcharge revenue is distributed.
How much is the surcharge?
The surcharge is determined by the ATM owner. The surcharge can be set at any amount, depending on limitations set by the law in your area.
When do I get my money?
The money dispensed by the ATM (vault cash) and the surcharge revenue are deposited into your account via the Federal Reserve the next business day. Funds from Monday will be available on Tuesday; Tuesday’s on Wednesday; & Thursday’s on Friday. Weekend transactions that occur on Friday, Saturday, and Sunday deposit on Monday.
What happens when someone does not get enough money?
This is extremely rare, but if this does happen, the customer should call their bank to verify the completion of the transaction on their account. If a withdrawal was made from the account and you did not get the money, a “Regulation E Claim” should be filed with the issuer of the card. Merchant Payment Express should be contacted with continued problems. Our toll free phone number is on the ATM surcharge sticker. NEVER give the customer money; you may not get it back!!
What happens when the ATM does not work?
Contact Merchant Payment Express immediately at 1.800.899.9229.
What are my expenses?
If you have a free placement you will have no expenses. If you purchase or lease an ATM you will need to purchase the ATM or pay your monthly lease payment. The ATM will require a standard phone line and a standard electrical outlet.
Are there additional expenses not covered here?
No. There are no additional statement fees, service charges, monthly fees, chargeback fees or transaction fees.
What is included with each ATM purchase or ATM lease?
- Free Shipping
- Free ATM Lighted Topper
- Free Online Web reporting
- Free Processing – No Fees
- FREE Tech Support
How much can I be paid with my own ATM?
You will make 100% of the surcharge revenue generated by your ATM.
How do I load my ATM?
Once your ATM is installed – you will be trained on the procedure of loading cash into your new ATM machine.
How much revenue can I expect to generate from an ATM placement?
That generally depends on the amount of foot traffic your location has on a daily basis. The rule of thumb goes like this: 2-3% of the foot traffic that actually sees the ATM machine will use the ATM. For example, you have a total of 500 people a day coming through your doors, and you are charging $2.00 per valid withdrawal. If you take the lower number that 2% of the people that see the ATM machine will use it, then your ATM machine will generate you 300 transactions per month at $2.00 per valid withdrawal. That leads to $600 per month or a total of $7,200 per year.
Can I co-brand my ATM with my company name?
If the ATM is owned entirely by you, then yes you can. It would be up to you to find a co-brander but the network stickers required for every ATM must remain the same as those issued to you when your terminal is placed on our system.
My company accepts credit cards. Is it still worthwhile to place an ATM machine?
Absolutely! This will not only put available cash in the hands of your customers, but it will also help save money on your credit card processing fees.
What kind of reporting tools do you offer?
We offer real-time online transaction statistics. You will be able to view over a dozen different reports such as detailed transaction history, low cash alerts, monthly transaction totals, etc. If you have any questions about our online reporting tools, please contact us at 1.800.899.9229.
Who is responsible for machine repairs and regular maintenance?
When you own the ATM, then you are responsible for repairs and maintenance. Merchant Payment Express does offer service contracts for maintaining and repairing your machine. Call us at 1.800.899.9229 for details.
What does it take to place an ATM in my business?
If you choose our “ATM Placement Program,” as little as a dedicated phone line and ample electrical supply is all it will take to get you started. If you choose to buy or lease an ATM, it is best to contact us (either call or fill our Online Contact Form) so that we may assess your capital needs.
Can I acquire a temporary ATM machine placement for a limited time event?
Yes, you can! Simply call us at 1.800.899.9229 and we can discuss your options.
How do I get started?
Call us at 1.800.899.9229 or use our Online Contact Form.
Credit Cards - Frequently Asked Questions
What is a merchant account?
A merchant account is a commercial account that enables you to accept credit card transactions. It handles the transfer of funds from the customer’s cards to your bank account.
What kind of businesses do you accept?
We accept retail, professionals, trade shows, mail order, telephone order, internet based, and home based businesses.
What if I have less than perfect credit?
We have one of the highest approval rates in the industry. So even if you have credit problems, in all likelihood we still approve you.
What credit cards will I be able to accept?
We set you up sp that you can accept Visa, MasterCard, Discover and bank ATM debit cards. You can also apply for American Express at the same time or any other cards you may be interested in accepting.
Do I need a business license?
No, you do not need to have a business license, trade name registration, DBA certificate, etc. but it is helpful.
What is the discount rate?
The discount rate is the percentage of each transaction that the processing company charges to handle the transaction for you. The rate is largely determined by the percentage charged to us by Visa and MasterCard.
What is the Address Verification System?
AVS stands for Address Verification Service. It verifies the cardholder’s billing address in order to help combat fraud in card-not-present transactions, such as Internet and mail/telephone order. This service is only available for credit card transactions within the United States.
Will I receive a statement?
Yes. A statement is mailed out every month with the information on all deposits into your account, your total sales volume, and the charges for the month.
How will I get my money?
Your money will be deposited directly into your current business checking account typically within 12 hours (sometimes slightly longer if your business is considered high risk).
How long does the approval process take?
Once all necessary paperwork is received, most accounts are approved within 24 to 48 hours. Once approved, we will immediately inform you of your acceptance and deliver the terminal equipment or software.
How do I get paid?
Credit card sales are deposited directly into your checking account that you specify on the merchant application.
How long does it take for the funds to be transferred to my account?
24-48 hours, which is standard for all processors.
Do I need a business checking account?
If your business operates as a corporation, yes, a business account is required. If your business is a sole proprietorship or partnership, the only requirement is that the individual or partners’ name(s) must be on the check.
When the terminal/software dials out for approval, am I charged any long distance or communication fees?
No, communication is all done on a toll free line.
Will I have 24-hour customer support?
Absolutely, at Merchant Payment Express, providing quality support for our customers is a top priority. We are here to answer any issues 24/7.
Do I need a dedicated phone line?
No. Terminals have dial phone jacks. This gives you the ability to connect the terminal and other peripheral equipment (modem, phone, fax) to one line.
I already have a credit card terminal. Can I use it to process with Merchant Payment Express?
In most cases, you will be able to reprogram your existing equipment to use with Merchant Payment Express. Give us a call at 1.800.899.9229 or fill out our Online Contact Form to find out for sure if your terminal is reprogrammable.
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