Consultancy
Fee
This
is
a
one
off
fee
payable
on
application.
This
is
our
consultancy
fee
towards
the
cost
of
liaising
with
customers,
collating
documents
and
ensuring
all
the
necessary
prerequisites
for
account
opening
are
met.
Activation
Fee
This
is
a
one
off
fee
payable
to
the
provider.
This
fee
covers
the
costs
incurred
by
the
provider
in
setting
up
the
account
and
activating
the
security
features
for
your
protection.
Monthly
Fee
This
is
a
flat
monthly
fee
for
the
use
of
the
Merchant
Account.
Visa
and
MasterCard
This
is
a
percentage
of
the
overall
transaction
fee
for
payments
made
by
customers
using
Viasa
&
MasterCard.
Switch
and
Solo
This
is
a
flat
rate
fee
applied
only
to
debit
card
transactions.
Gateway
Fee
This
is
a
fee
for
using
our
secure
gateway
to
the
processing
bank.
It
is
charged
on
all
completed
transactions,
including
authorisations,
declines,
and
refunds.
Settlement
The
length
of
time
between
process
of
payment
and
remittance
to
your
account.
Extra
Currencies
One
currency
is
provided,
and
additional
currencies
are
charged
at
approximately
£20
per
month,
per
currency.
The
following
currencies
are
available
–
Euro,
Pound
Sterling,
U.S.
Dollar,
Canadian
Dollar,
Swedish
Krona,
Danish
Krone,
Norwegian
Krone,
Swiss
Franc,
Australian
Dollar,
South
African
Rand,
New
Zealand
Dollar,
Hong
Kong
Dollar,
and
Japanese
Yen.
Rolling
Reserve
Many
banks
and
payment
providers
require
a
non-interest-bearing
deposit
equal
to
one
or
two
times
the
average
estimated
monthly
credit
and
debit
card
sales
by
a
merchant.
Alternatively,
sometimes
a
four-
or
eight-
week
settlement
period
can
be
applied.
This
can
pose
a
substantial
barrier
to
accepting
credit
and
debit
cards
for
some
merchants.
The
purpose
of
this
deposit
is
to
cover
any
purchase
refused
by
a
customer
and
for
which
the
customer's
card
issuer
refuses
to
pay
(a
chargeback).
To
overcome
the
barrier
of
large
cash
deposit,
Our
Credit
and
Debit
Card
Processing
includes
a
rolling
reserve.
The
amount
of
the
reserve
account
is
usually
five
percent
of
total
approved
gross
transactions,
over
the
previous
six-month
period.
Following
the
seventh
month
of
operation
(and
every
month
thereafter)
the
reserves
generated
from
the
first
month
of
operation
(and
every
month
thereafter)
is
forwarded
back
to
you.
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