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Frequently Asked Questions
How long does it take and what is involved in setting up a processing account with MTG?
It usually takes just few days. A simple application needs to be completed and submitted. Once submitted, most accounts are approved within 48 to 72 hours.
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Are there any application or set-up fees?
No. There are no fees involved in establishing an account with MTG. |
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Are there any contract period minimums or cancellation fees?
No. MTG does not require you to maintain an account for any minimum period of time. Nor does it impose any cancellation fees if you close it.
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How long will it take for a credit or debit card payment to be deposited into my bank account?
Two business days. Monday’s transactions are deposited on Wednesday, Tuesday’s transactions on Thursday and Wednesday’s on Friday. Because the Federal Reserve is closed on the weekend, Thursday’s transactions are deposited on Monday with Friday’s, Saturday’s and Sunday’s transactions deposited on Tuesday.
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How and when are the processing fees paid?
Processing fees are debited from your checking account on the 2nd business day of each month for the transactions you processed the proceeding month. In other words, on the 2nd business day of March, the fees would be deducted for the transactions you processed in February. |
If I currently process through another company and want to switch to MTG, will I have to purchase new equipment?
Probably not. MTG is compatible with virtually every electronic terminal on the market. Your terminal would have to be reprogrammed, however, which would be done at no cost. |
What does MTG charge for terminal supplies such as paper or ink ribbons?
Nothing. With MTG, standard supplies such as paper or ink ribbons are free of charge. |
Will MTG provide me with any kind of statement so that I can reconcile the transactions I process with the deposits that are made to my checking account?
Yes. You will receive a statement on approximately the 5th business day of the month summarizing the transactions you processed the proceeding month. It will also include the detail of the fees related to those transactions. |
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How will I receive my statement?
By US Mail, fax or e-mail.
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Can I access my account on-line?
Yes. For a nominal monthly fee, you can access a wide range of information related to your account as long as it occurred in the last year. You can pull up statements, batches of transactions or search by card numbers, authorization codes and dollar amounts. You can even view transactions immediately after they are processed. |
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Frequently Asked Questions
How long does it take and what is involved in setting up a processing account with MTG?
It usually takes just few days. A simple application needs to be completed and submitted. Once submitted, most accounts are approved within 48 to 72 hours.
|
Are there any application or set-up fees?
No. There are no fees involved in establishing an account with MTG. |
|
Are there any contract period minimums or cancellation fees?
No. MTG does not require you to maintain an account for any minimum period of time. Nor does it impose any cancellation fees if you close it.
|
|
How long will it take for a credit or debit card payment to be deposited into my bank account?
Two business days. Monday’s transactions are deposited on Wednesday, Tuesday’s transactions on Thursday and Wednesday’s on Friday. Because the Federal Reserve is closed on the weekend, Thursday’s transactions are deposited on Monday with Friday’s, Saturday’s and Sunday’s transactions deposited on Tuesday.
|
How and when are the processing fees paid?
Processing fees are debited from your checking account on the 2nd business day of each month for the transactions you processed the proceeding month. In other words, on the 2nd business day of March, the fees would be deducted for the transactions you processed in February. |
If I currently process through another company and want to switch to MTG, will I have to purchase new equipment?
Probably not. MTG is compatible with virtually every electronic terminal on the market. Your terminal would have to be reprogrammed, however, which would be done at no cost. |
What does MTG charge for terminal supplies such as paper or ink ribbons?
Nothing. With MTG, standard supplies such as paper or ink ribbons are free of charge. |
Will MTG provide me with any kind of statement so that I can reconcile the transactions I process with the deposits that are made to my checking account?
Yes. You will receive a statement on approximately the 5th business day of the month summarizing the transactions you processed the proceeding month. It will also include the detail of the fees related to those transactions. |
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How will I receive my statement?
By US Mail, fax or e-mail.
|
Can I access my account on-line?
Yes. For a nominal monthly fee, you can access a wide range of information related to your account as long as it occurred in the last year. You can pull up statements, batches of transactions or search by card numbers, authorization codes and dollar amounts. You can even view transactions immediately after they are processed. |
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