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FAQs
Principal Program
Q: How do I contact TIB for questions on an application I recently submitted? A: Call the Merchant Bank Support Department at 1-800-327-0053. Q: How is the discount rate I charge my merchant(s) calculated? A: If you choose to charge your merchant a discount rate, that rte will be calculates against your merchants net VISA/MasterCard volume for the month. (sales less credits) Q: When are discount fees deducted from my merchant's accounts, daily or monthly? A: Discount fees are billed to your merchants on a monthly basis. Usually on the third or fourth business day of the following month. Q: Can a merchant impose a surcharge on VISA or MasterCard transaction? A: According to VISA and MasterCard rules, a merchant may not impose a surcharge or a minimum transaction amount for a VISA or MasterCard transaction. Q: How quickly will my merchant receive credit for his VISA/MasterCard deposits? A: Electronic merchants who you have set up for the early cutoff time, and who close their batch prior to 6 p.m. CST, will receive credit on the next business day. (The timing of your banks posting process may also be a factor.) Associate Program Q: How long will it take to set up my merchant account? A: Normally a merchant will be up and running in about 4 business days. This is from the time the merchant has submitted complete paperwork and has selected a terminal option. Q: Can a merchant use their existing credit card terminal on TIB's program? A: Yes, in most cases. TIB can have most brands an models of terminals/printer reprogrammed. However, from time to time we do run into equipment that is either proprietary to another system or is simply out dated and needs to be replaced. Q: Does TIB provide a paper processing option on the Associate Program. A: No. However, for low volume merchants that do not wish to purchase or lease a terminal, TIB does make available a touch-tone processing system that allows a merchant to use their existing phone to process credit card transactions. Q: How is the discount rate I charge my merchant(s) calculated? A: If you choose to charge your merchant a discount rate, that rte will be calculates against your merchants net VISA/MasterCard volume for the month. (sales less credits) Q: When are discount fees deducted from my merchant's accounts, daily or monthly? A: Discount fees are billed to your merchants on a monthly basis. Usually on the third or fourth business day of the following month.
