Frequent Asked Questions |
1.How do I qualify for a cash advance?You will qualify if you meet the following criteria
2. How much funding do I qualify for?We can fund from $ 500 - $ 3,000,000. The amount you get depends on your monthly credit card volume and past business. 3. How do I repay the amount?Once approved, you will open a merchant account with us. A portion of your monthly Visa, MasterCard, Discover and American express will go towards repaying the cash advance. The amount will be automatically deducted from your merchant account daily. 4. How much will the cash advance cost me?The cost of the cash depends upon the amount of the cash advance, time for repayment, prevailing economic conditions and other factors. Poor credit rating, including delinquencies, may influence the cost. We try our very best to give you the best possible rates. 5. Are there any other costs to get the cash advance?Application fees may apply in certain cases. Call now to find out 6. Do I have to switch my current credit card processor?Yes, you will have to switch over your credit card processing business to us. Switching over to us is a win-win situation for you primarily, because we will probably beat your current processors rate. Using First Capital payment not only gets you cash advance but also saves you money on credit card processing. 7.What is a Merchant Service Provider?A merchant service provider makes it possible for businesses to accept credit cards. First Capital Payment provides customers with a wide array of tools necessary for credit cards transactions. Tools such as merchant account, credit card processing terminals, merchant reporting, risk management and 24/7 customer service make it easy for business owners to accept credit cards 8.What credit cards will I be able to accept?All other major credit cards, including Visa, MasterCard, American Express, Diners Club, JCB ,Discover and Fleet cards can be accepted once the terminal is installed or reprogrammed. 9.How can I use my PC to process transactions instead of a terminal?We offer PC and Mac based virtual software that makes it possible to process credit card with a PC instead of a Terminal. 10.What is a transaction fee?The credit card association charges a transaction fee also known as a swipe fee. Our transaction fee is based on volume and number of swipes. Our business solution providers will custom tailor a program to reduce your credit card processing fees without compromising customer service. We aim to establish a long-term relationship with customers and work very hard to establish customer loyalty. Typically out transaction fee range form $0.00 to$ 0.30. 11. Can I buy my equipment?You can buy, rent or lease equipment. Rental agreements are month-to-month and the customer has the option to purchased the rental equipment at a discount after the rental agreement expires. Lease agreements usually run from 36-48 months. Some customers choose to purchase the equipment. Installment options is available on request. 12.How long does it take to set up everything?After the merchant account application is approved, then within 48-72 hrs you should be able to accept credit cards. Delay may be caused if the application is incomplete and there are credit issues. 13. When will I receive my credit card sales money?You will receive your money daily. The Federal Reserve Automated-Clearing House will deposit the credit card sales amount in your bank account daily. 14.What kinds of reports will I receive?You will receive a monthly statement every month clearly detailing your credit card transactions. Our easy to understand statements have no hidden cost. First Capital Payment Customers also have access to online 24/7 at no additional cost. 15.What kind of business do you accept?We accept almost all types of legitimate businesses. Our merchant portfolio includes such as retail, restaurant, hospitality, community banks auto repair facilities, convenience and liquor stores and professional service providers. Unfortunately, however, there are some business types that we cannot place. Some businesses that we do not cater to are travel agencies, airlines Internet gambling and any business involved in illegal business practices 16.What kind of customer service will we receive?First Capital Payments is a full service company. We are dedicated to providing you with the best possible customer service experience. Our highly trained customer service personnel will work with you to resolve all your customer service issues as fast as possible. Customer service is available 24/7. 17. Do I have to sign a long-term contract?No, but there is a 30 day renewable contract. The contract will automatically renew every month until we receive a written notification of the customer desire to end the contract. Cancellation fees are determined on a case-by-case basis 19. What are the hidden costs?Our fees are transparent; there are no Hidden fees or Hidden agenda. Our mission is reduce your credit card processing fees without compromising customer services. Our business solution providers will explain all fees, terms and conditions of the contract. 20. Who will pay my cancellation fees when I switch my account over to First Capital Payments?This depends on the amount the previous processor charges for cancellation. Typically FCP assists the merchant in paying the cancellation fees. |
