Heartland Payments Set Up Details

Heartland Payments Set Up Details


Heartland Payments is eager to assist in establishing a merchant processing account (MID) for credit/debit and echeck (ACH). The purpose of this document is to furnish details specific to each option as well as the boarding portals (labeled accordingly). Additionally you’ll find contact info to help answer questions and expedite the set up.

**Pricing- 3 options**
  1.  Month to Month agreement
    1. Credit Card Processing- IC + 95bps + $.10 per txn + $10 per month
      1. Interchange is defined as the pass through cost from the card brands
      2. 95bps is the equivalent of $9.50 per $1,000 processed
    2. ACH Processing- $.65 per txn + $5 per month
      1. ACH attempts are validated to avoid key errors
  2.  1 Year agreement -  (school absorbs all costs of payments)
    1.  Credit Card Processing- IC + 70bps + $.10 per txn + $10 per month
      1. Interchange is defined as the pass through cost from the card brands
      2. 70bps is the equivalent of $7.00 per $1,000 processed
    2. ACH Processing- $.50 per txn + $5 per month
  3.  Service fee model*
    1. Credit Card Processing- 3.00% + $10 per month (cost paid by school to maintain merchant ID)
    2. ACH- $.75 + $5 per month (nominal monthly cost paid by school to maintain the eCheck solution)
    3. Must be 1 year term
* Service Fee model by definition is a set up where the cost is passed onto the customer/payer. The monthly support fee paid by the school is therefore, $15 ($10 + $5)

An online boarding portal tool has been selected to help complete the project and secure the necessary signatures and uploading of info.

Boarding Portals (Please select one of the following): 



Data Collection items:
  1.  Copy of checking info (either a void check or bank letter) denoting the routing and account # (UPLOAD VIA BOARDING PORTAL)
  2.  KYC (know your customer) /Beneficial Ownership information for each owner who has 25% or more equity ownership. This includes signer info (DOB, address, SSN)
  3.  If currently accepting payments, please provide 2 current Processor Statements
Please call or email with questions/concerns.
Colin Flannery, Heartland Mid Market/Enterprise Sales                       614-560-0983                              colin.flannery@heartland.us

Additional Notes: 
Three pricing options have been offered.  One of which is a Service Fee Model.  This option passes the associated cost to accept payments to the customer/payer as noted in the details above.




6000.4.14

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