FAQs
- International Bank Accounts
- Credit Services
- Credit Cards
- Debit Cards
- Prepaid Cards
- Brokerage Services
- Merchant Services
- Corporate Services
Merchant Services
What are the fees associated with our Merchant Service?
Please contact the Bank to discuss or obtain a schedule of fees. Our discount rate ranges depending on the type of service or product being sold, monthly sales volumes, average ticket size and previous merchant history.
What kind of merchant services do you provide?
We offer e-commerce merchant account only. We do not offer point-of-sale terminals.
What type of cards does your merchant service accept?
Our merchant service has the ability to accept VISA cards and Master Cards only. We do not process for American Express or Discover Cards.
How long does this merchant account opening process normally take?
Once the Bank has received all the required documents, it takes about 2-3 weeks for the Bank to conduct our due diligence and approval of the merchant account.
What are the steps involved to apply for an account?
Complete the merchant questionnaire and send to the Bank via fax, scanned e-mail or mail. After the Bank reviews the questionnaire and the website that is listed on the questionnaire, we will contact you with a notice of pre-approval. We will also recommend all the necessary changes to ensure the your website meets our necessary requirement.
After the pre-approval, you will need all the necessary documentation as outline in the list of requirements for the Merchant account (i.e. corporate documents, proper identification, references, application etc.) and also to make all amendments as recommended for the website.
Once the Bank has received the required documentation, we will conduct our due diligence and approval process, which takes approximately 2-3 weeks. Your complete application documents are submitted to a committee for review for a decision on the approval of your account.
The Bank will inform you of the final decision. If approved, the Bank will provide you with additional information to integrate your website to the Bank’s payment gateway provider. Thereafter, you should be able to successfully start accepting card payments.