Frequently Asked Questions
Why did BaseRates choose to do things differently than regular processors?
In today's world, no processor is different than the next. They all use the same deceitful pricing methods to make a fortune off your business thanks to their huge rate markup. We wanted to find a way to offer our clients the industry's actual wholesale processing rates with no markup (you know, the rate that only big boy corporations can get); that's where our month-to-month processing plan comes in. For the first time in the history of the payments industry, all businesses can obtain the actual base-cost of processing. No conditions. No gimmicks.
I process $5,000/month, so I am on the border between your Low Volume plan and your
Medium Volume plan. Which do I choose?
At BaseRates, we're not really concerned with making the largest profit on every account (hopefully you've been able to tell with our commitment to fair pricing). If you're on the border between two of our processing plans, we'll give you the cheaper one.
Is there an overage fee if I have a Low Volume plan and I happen to process more than $5,000 a few months out of the year?
Absolutely not. The business categories for each processing plan (under $5,000/mo, under $25,000/mo, & over $25,000/mo) are just guidelines we use to categorize your business into the appropriate plan. There's no cap, and certainly no overage fee if you process more than the advertised amount for your plan.
How long does it take to get setup with BaseRates?
Applications are usually approved within 24 hours, and depending on your setup requirements, you can usually begin processing immediately upon approval.
Are customized processing plans available?
Of course. We understand that our generalized processing plans may not be the best fit for every business. Please contact us to discuss customized plans and we'll work with you to come up with a plan that fits your needs.
Does BaseRates offer free equipment?
Unfortunately, we do not offer free equipment at this time. We work off a small profit margin and so we simply cannot afford to. Regular processors will use "free equipment" as a deceitful tactic to lure your business in. What they're really saying is "We make so much money off your merchant account that we'll pay the cost of your equipment." While we may not offer equipment for free, we do offer our entire selection of equipment at the price it costs us to get it.
How soon will I receive funds for my transactions?
Payments taken during regular business hours will have funds available in one to two business days.
What is PCI Compliance (PCI-DSS)?
The Payment Card Industry Data Security Standard (PCI DSS) is a set of requirements designed to ensure that all companies that process, store, or transmit credit card information maintain a secure environment. In security terms, PCI Compliance means that your business adheres to the PCI DSS requirements for security management, policies, procedures, and other critical protective measures. In operational terms, PCI Compliance means that you are playing your role to make sure your customers' payment card data is being kept safe throughout every transaction, and that they - and you - can have confidence that they're protected against the pain & cost of data breaches.
How can my business become PCI Compliant?
Our PCI Compliance Program takes a comprehensive approach to helping our merchants securely manage cardholder data and ensure compliance with the PCI Data Security Standard. The program is focused on three key areas: education (materials and information to help understand PCI DSS compliance), validation (unique tools to help validate and demonstrate compliance as well as protect your business), and financial protection (programs to mitigate exposure in the event that a data breach occurs). We are dedicated to your business's security.
What are my equipment options?
Which terminal, equipment, or software is the best for my business?
We're more than happy to help determine which equipment solution is the best fit for your business. Please contact us and we will work together to find out which solution is right for you.
Can I use Authorize.net as my gateway?
Of course. We can convert your current Authorize.net account to work with us, or we can setup a new account for you.
What can I do if I ever need help with my merchant account, equipment, etc.?
Our customer support center is one of the best in the industry, happily serving clients 24/7/365. You're not just given one - but several customer support phone numbers, so you have a live person to reach at any time of any day. We're here for you.