Welcome to Wholesale Merchant Services Frequently Asked Questions (FAQ) Page.
If you don’t see the answer you’re looking for, just give us a call or drop us an email and we would be happy to help.
Credit Card Processing – The Basics
Already Accept Credit Cards?
Current WMS Customers
New Merchant FAQs
What is the first thing I need to do to start accepting credit cards?
You will need a merchant account set up for your business. This will give you the ability to accept credit and debit cards in person, online, or over the phone.
How do I apply for a merchant account?
If you would like to sign up for a merchant account, you can call us at 1-888-682-3363, sign up online, or email us.
What credit cards will I be able to accept?
WMS offers processing services for all major credit cards including Visa, MasterCard, Discover, American Express, Diners Club, and JCB.
Can I also accept debit cards?
Yes. WMS leads the industry in debit card processing with access to both national and regional networks including Interac.
How long will it take before I can start accepting credit and debit cards?
With WMS, we can get you up and running within the same day in many cases.
When will I receive funds from the transactions which I process?
Funds from your processed transactions should be deposited into your checking account within 2-3 business days.
How are credit cards charged?
Upon swiping a credit card in a POS terminal or entering the required customer information into a virtual terminal, the information is sent from the merchant to Wholesale Merchants. WMS then requests the money from the issuing bank, which is deposited directly into your bank account.
What is the difference between a void and a refund?
A void must be performed prior to the authorization of a transaction. After a transaction is authorized, the transaction cannot be voided by the merchant. A refund must be applied to the customer’s account.
What types of processing solutions does WMS offer?
WMS offers a wide range of processing solutions for merchants so you can choose which is right for you. From retail stores to ecommerce and mail order to mobile transactions, WMS has the right solution for your business.
What is MOPO processing?
MOPO (mail order/phone order) processing is also known as “card not present”. MOPO transactions allow customers to make purchases by providing their credit card information without providing a signature over the telephone, Internet, or via mail.
What is a virtual terminal?
A virtual terminal is a processing terminal which merchants may use to process transactions online. Virtual terminals can be accessed from any computer with an Internet connection.
What is EMV compliant?
EMV compliancy is required for all equipment for most transactions or merchants are open to fines from Visa/MasterCard. WMS offers a full line of secure EMV compliant POS equipment to avoid fines and keep your transactions secure.
How do I program my equipment?
WMS makes getting up and running quick and easy with our free training and set-up for new merchant accounts.
Why do different accounts have different rates?
Different accounts have different rates depending on your businesses specific needs and risk factor. For example, some accounts may strictly be store front retail while some businesses accept credit cards over the phone (card not present) which presents a slightly higher risk leading to slightly increased rates.
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Already Accept Credit Cards?
Why switch to WMS?
We offer the lowest rates available, guaranteed! We assure processing for all major credit and debit cards, allowing you to accept all your customers.
Is my existing POS compatible with WMS?
WMS’ processing solutions are compatible with most POS systems. To ensure your POS system is compatible, contact us.
What other services does WMS offer merchants?
Besides credit card processing, Wholesale Merchants offers cash advance and gift cards programs for our merchants.
How do you determine my monthly minimum?
Every business hsa a monthly minimum based on the amount of transactions processed throughout the month.
What if I already have processing equipment, but want to switch to Wholesale Merchants Services?
No problem. WMS supports all major terminals and processing equipment and would be happy to discuss the WMS advantage with you in detail. Contact us to see if you equipment is compatible.
What is SafePay?
SafePay is WMS’ proprietary ecommerce gateway that allows merchants to submit transactions online quickly and securely. Using SafePay, you can process sales, authorizations, refunds, and capture existing or voice authorized transactions. The SafePay Gateway can be accessed from any computer with Internet access at any time, providing a quick and convenient way for merchants to process transactions.
Are there any businesses that you do not allow to apply?
Yes. To hold ourselves to the highest level of integrity, WMS does not provide services for certain types of businesses. Click Here to view full list
What kind of support does WMS offer in case something goes wrong?
At WMS, our world-class customer service and technical support is available 24/7/365 days a year. With WMS, you will always get a support expert on the phone quickly who is located in either our New York or Canadian offices.
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Current WMS Customers
How do I change my address and/or telephone number?
A simple request in writing can be faxed to the attention of our Customer Service Department at 888-979-6525. Upon receipt, the change will be completed within two (2) business days.
How do I change the business checking account information that is linked to my WMS merchant account?
It is extremely important to notify WMS immediately upon any change to the checking account that is linked to your WMS merchant account. Failure to notify WMS may result in the delayed deposit of funds to your checking account or funding to the wrong checking account. A void check for the new account must be faxed to our Customer Service Department at 1-888-682-3363. In the event of a starter check, a bank letter is also required. The change will be completed within two (2) business days. The original checking account should be left open with funds available during the transition to the new checking account.
How do I change my business name and/or the description of my business appearing on my customers’ billing statements?
If there is a change in the business name and/or DBA, the Articles of Incorporation must be provided to WMS. To make this change to your merchant account, please fax a written request to our Customer Service Department at 1-888-979-6525.
How do I increase my processing limits?
This request must be submitted in writing with the new ticket amount and average monthly volume amount. To make this change to your merchant account, please fax the written request to our Customer Service Department at . Please include your DBA name and merchant number in your request.
How do I change the ownership information if I’ve recently acquired or sold the business?
The new owner must complete a new Merchant Application and Agreement. Contact your Sales Representative for assistance, or you may contact WMS directly at 1-888-682-3363.
How do I know what has been deposited into and/or deducted from my checking account by WMS?
This information is available in several formats. A monthly processing statement is mailed the first week of each month for the preceding month’s activity. Checking your bank statement is also an option. Deposits and withdrawals will be listed on your bank statement as “Bankcard Processing”. A third option is to call our Customer Service Department at 1-888-682-3363.
How frequently are funds deposited into my business checking account?
Activity on your merchant account is processed on a daily basis and is reported according to the processing date. The transfer of funds to or from your checking account takes place through the Automated Clearing House (ACH). Depending on your merchant account type, the transfer may vary from 2 to 5 business days. Weekends and Federal holidays are not considered as business days.
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Prohibited Business Types*
- Acai or Health Related Teas
- Adult Material, Pornography
- Anti-Aging Products
- Airlines, Air Carriers
- Bankruptcy Attorney
- Business Opportunity
- Buying/Shopping Club
- Cash for Gold Non Face to Face
- Charters, Tours
- Check Cashing Services
- Coin & Stamp Stores/Dealers
- Collection Agencies
- Colon Cleansers and other Detox Products
- Computer Bulletin Boards
- Continuity Business – Non Face to Face
- Coupon/Gift Certificates
- Credit Repair/ Credit Insurance/ID Protection
- Companion Services (Dating Services)
- Cruise Lines
- Custom Clothing Non Face to Face
- Decryption and Descrambler Products
- Direct Inbound Teleservices (5967)
- Direct Marketing Travel (5962)
- Direct Outbound Telemarketing (5966)
- Discount Medical and/or Drug Plans
- Downloading of Software Sales (Movies/Music)
- Door to Door Sales
- Escort Services
- Finance/Loan Services
- Firearms & Ammunition
- Furniture Sales Non Face to Face
- Gaming/Betting Activities (7955)
- Gentlemen Clubs
- Glucose Strips
- Golf Clubs (MO/TO) – Gimmicky Products
- Hair Restoration Services
- Horoscope & Fortune Tellers
- Internet Based Work from Home Plans
- International Freight Forwarding Services
- Investment Opportunities
- Loan Modification/Reduction Services
- Massage Parlors, Non-Licensed
- Mattress Sales Non Face to Face
- Medical Marijuana
- Mortgage Modification/Reduction Services
- Mortgage Services (Security Sales)
- Multi-Level Marketing
- Mugshot Websites
- Non Face to Face Transactions with Products only being provided through Drop Shipping
- Non Face to Face Computer Repair/PC Support Transactions
- On-line Malls/Aggregators, On-line Auctions
- On-line File Hosting, Storage, Data Transfer, Data Sharing and Similar Services (including Cyber-Lockers and Cloud/Remote Storage)
- Pay Per Click Web Merchants “Parked Websites”
- Pet Sales Non Face to Face
- Pharmacies – Non Face to Face
- Pin Based / Rechargeable Calling Cards
- Products with Unreasonable Guarantees/Expectations
- Real Estate/Property Sales
- Royalty Payments / Fees
- Search Engine Optimization (SEO)
- Self Help Books
- Services offering Government Monetary Grants and other “Business Opportunity” Schemes
- Sports Forecasting
- Teeth Whitening Products
- Telephony Services (VOIP)
- Third Party Billing
- Ticket Broker/Ticket Sales
- Time Share Sales/Rentals/Advertising
- Tobacco, Alcohol, Firearms, or any Age Sensitive Products that are non face to face transactions
- Traffic Ticket Repair Services
- Travel Agencies, Travel Clubs
- Used Vehicles
- Virtual Currency/Stored Value/World Credits (e.g. Bitcoin, In Game Currency)
- Vitamin Business/Neutraceuticals Non Face to Face
- Water Purifiers
- Weapons (Knives/Swords) Non Face to Face
- Weight Loss Centers
- Wholesale Clubs
- Wire Transfer Company
*WMS reserves the right to modify and/or change the prohibited business list without notice and at its sole discretion.
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