Information
for Canadian Merchants.
|
What
are the fees for becoming a Canadian Merchant?
All fees are in U.S. dollars.
- Application/Set-up
Fee $99
- Discount Rate 2.79%
(charged on gross sales)
- Minimum Monthly
Disc Fee $25
- Transaction Fee
$0.35 (per sale or refund processed)
- Batching Fee
$0.25
- Monthly Statement
Fee $15
- Charge Back Fee
$25
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Do
I have to have a US Bank Account?
Yes. You must have a US Checking Account. We will provide the contact
necessary to apply for a US Checking Account. You will be required to fill
out documentation to open the account, provide a letter of reference from
your current bank, a photo ID and an initial deposit of US$100. There are
no charges for setting up this checking account.
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What Forms does
the processing bank require for a Canadian Merchant Account?
- Application.
- Card Not Present
Addendum.
- System Integrator
Form.
- Statement of Net
Worth. (If required.)
- Corporate Resolution.
(Corporations Only)
- Partnership Agreement.
(Partnerships Only)
- LLC Certificate.
(LLC's Only)
- Guarantees. Each
principal listed on the Application should complete and sign.
- Agreement.
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Are other documents
required for a Canadian Merchant Account?
- A voided check
for the US checking account into which funds are to be deposited.
- Payment of your
$99 application/setup fee in US dollars only. This must be made by check
to 'homechef.com'.
- A copy of the Articles
of Organization of your LLC. (For LLC's only.)
- If you already
accept credit cards, your three most recent major credit card merchant
statements.
- Your American Express
merchant number, if you already accept this card. If you do not, you
will have to contact American Express directly to establish a merchant
account.
- Advertising/marketing
materials, business plan excerpts, background information, press clipping
or other information on the business and its principals that may assist
us in gaining credit approval for your account.
- Photographs of
your business premises.
- Financial Statements.
Personal and/or business financial statements are required of businesses
that sell primarily by Internet. .
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How
long will it take before my Merchant Account is approved?
Approximately 30 days.
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Do
I complete the online merchant application?
No, when you contact us we will email all the paperwork that is necessary
to open a Canadian Merchant Account. |
