Tawas Credit Card Processing

Tawas credit card processing may just be the perfect match for businesses in need of a merchant account. Tawas merchant accounts give clients the ability to accept debit cards and credit cards as well as electronic check processing. Read on to find out more about this Michigan-based credit card processing business.

Tawas Credit Card Processing

Opening a Merchant Account

It is easy to open an account online with Tawas. Merchants will need to provide certain information on their application, which includes:

• Business and personal contact information
• Estimated average transaction amount
• Estimated monthly sales
• Social Security Number of the person opening the account
• Federal Tax Identification Number, or Social Security Number if a sole proprietor
• Bank routing number and bank account number

Make sure that you have your tax identification number and bank account information with you when you are filling out the information on the application. Tawas uses direct deposit of your earnings to your account; wrong identification numbers and account numbers could delay payments.

Types of Tawas Accounts

Tawas offers a lot of flexibility to merchants, depending on the type of business they are running. Accounts can be tailored to specific types of businesses. They identify businesses in categories. They are:

• Mail and phone order businesses
• Retail and restaurant businesses
• Internet
• Outdoor/Wireless

The type of business you are running lets Tawas credit card processing know what kind of transaction equipment you will need. For example, someone who does transactions at a flea market or on the road will need wireless equipment as opposed to a mail/phone order business that would use electronic equipment with a phone line.

Benefits of Using Tawas

There are many benefits to using Tawas as your credit card processing company.

• 48 hour turn-around in receiving funds from check payments. This eliminates the need to put orders on hold for a week or more before delivering merchandise.
• Direct deposit of funds into your account. No more trips to the bank to deposit checks.
• Paperless and automatic billing for services. Automatic billing eliminates the need to send a check for Tawas services and paperless billing is environmentally friendly.
• Ability to accept debit cards, credit cards and checks. Many credit card processing companies do not accept debit cards. You will be able to accept debit cards, which have the Visa or MasterCard logo.
• Currency exchange so you may accept International payments. Expand your business by accepting payments from International customers. Tawas calculates the exchange rate for you.

Merchant Accounts

It is important to weigh all your options before applying for a merchant account. There are fees associated with each transaction and monthly fees for account maintenance. In addition, merchants will need to obtain and set up their transaction equipment before they can begin accepting credit card charges. While some credit card processing companies offer free equipment, most do not. Expect to pay an average of $200 to $800 for new electronic transaction equipment. If you want to purchase used equipment, verify what types of equipment your credit card processing company will accept, then search the web or auction sites, such as eBay, for the best deals on used equipment.

Individuals and businesses should also be aware that in some instances your application may be declined. Typical reasons for declining accounts are:

• Adult or gambling website business
• The business owner has a low credit score
• Expensive products
• Phone card businesses
• Travel businesses
• The business owner does not have a business bank account

In some cases, such as not having a business bank account, the decline can become an approval once the proper account is opened. In cases where the applicant has a low credit score, this cannot be fixed so easily. A merchant can always shop around for other credit card processing companies that do not take a credit score into account when processing applications.

Merchants that have high risk businesses, such as adult, gambling or phone cards, may also search the Internet for credit card processing companies that accept these types of accounts. Generally, the accounts are declined because of the high rate of charge backs initiated for the transactions, whether they are fraudulent or not.

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