Frequently Asked Questions


  
How long does it take to open a merchant account?
Typically between 1-2 business days after the application has been submitted. Internet merchant accounts may take up to 3-4 business days.
 
Can I switch my processing to you if I have a contract with another company?
Yes. We will pay any early termination fee's up to $500 dollars.
 
Do you provide machine repair or on-site service?
We do provide repair services for electronic credit card terminals including head replacement, firmware updates and other common technical procedures. If for any reason your terminal cannot be repaired we can overnight a new terminal to you that is pre-configured.
 
What name will show up on my customers credit card statement?
The D.B.A. (doing business as) name that you chose during the application process will show on customer statements.
 
Can I have a merchant account if my company is not incorporated or not a LLC?
Absolutely. For sole proprietors you will be able to use your personal name or for internet companies your web address. For example: Mybusiness.com. If you wish to use a name other then your personal name or web address you will need to form a corporation or LLC with the New York State Division of Corporations.
 
How long does it take for funds to show up in my bank account?
Funds are typically available within 2-3 business days. For transactions larger then the "maximum transaction amount" you chose during the application process could add further delay.
 

Need Help? Call us at (631) 629-1412 or e-mail us info@LIMerchant.com