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Member
Posts: 4
Registered: ‎08-02-2012

Questions for transactions and setup

Okay. I have a question for transaction online. I have a website and it looks like $20 dollars a month. Then it sayd transaction fee is $0.10 *...Does this mean 10cents on the dollar of just ten cents a transaction no matter the price?

 

Second. I am hooking this up for my site. I have done it for over a year for other cluients but they usually just give me their key codes. If I sign up now does it automatically link to my bank account?

 

Thanks for anyone who replies.

Expert
Posts: 4,525
Registered: ‎03-08-2010

Re: Questions for transactions and setup

You need to read the service agreement from your merchant bank and from authorize.net

 

It kind of answer in

http://community.developer.authorize.net/t5/Integration-and-Testing/Is-Authorize-Net-also-a-merchant...

You need to get a merchant bank account.

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Posts: 1,609
Topics: 15
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Registered: ‎06-23-2011

Re: Questions for transactions and setup

See the pricing link in my profile. It is 10 cents per transaction (counting voids and refunds and so on as separate transactions), plus 25 cents for each batch. Basically, the 10 cents cover the initial processing of a transaction, then if it goes through ok, it is queued for settlement and all transactions for the day are settled all at once for 25 cents (that's when the money actually makes it to your account). So if you have say 8 transactions that are ok and 6 failures (credit card info incorrect or insufficient balance or whatever), you'll get charged (8 + 6) * 10 cents + 25 cents for the batch = $1.65.