Merchant Services Program Guide
A concise rundown of every critical clause in your credit card processing agreement — plus instant access to the full 44‑page PDF.
Download the Complete PDFKey Provisions at a Glance
| Topic | Essential Details |
|---|---|
| Who’s Involved |
Member Bank — Wells Fargo Bank, N.A. (Visa/Mastercard). Processor — First Data Merchant Services LLC (clearing, funding, risk). |
| Merchant Responsibilities |
• Maintain PCI‑DSS compliance. • Keep fraud & chargebacks below network thresholds. • Follow all Visa, Mastercard, Discover & Amex rules. • Retain signed disclosure page. |
| Funding Timeline | Batches funded via ACH within 2 business days (next‑day for many merchants). |
| Pricing & Downgrades | Transactions missing qualification rules post Mid‑ or Non‑Qualified surcharges. |
| Additional Fees | Network interchange, assessments, monthly minimum, debit‑network pass‑through, PCI non‑compliance. |
| Early‑Termination | 90 % of remaining monthly fees if cancelled inside the 3‑year term. |
| Chargebacks | Merchant liable for disputed amounts and arbitration filing fees; timely document response required. |
| Reserves & Risk Holds | Processor/Bank may establish a non‑interest reserve at any time to cover potential liability. |
| 1099‑K Reporting | Annual gross card volume reported to IRS; Form 1099‑K issued each January. |
| Exclusivity | All Visa/Mastercard/Discover/Amex must be routed through this agreement during the term. |
| Legal Venue | Agreement governed by New York law; venue in New York, NY; jury trial waived. |
Five Quick Action Items for New Merchants
- Complete PCI SAQ within 30 days to avoid monthly non‑compliance fees.
- Batch before 11 PM ET for next‑business‑day funding.
- Review your first statements; if you see Mid‑/Non‑Qual surcharges, contact support to optimize.
- Keep chargebacks under 1 % of sales and answer retrievals within 7 days.
- Forward your annual 1099‑K to your accountant each January.
24 / 7 Support Numbers
Fiserv / First Data
(877) 828‑0720
(877) 828‑0720
Clover POS
(855) 853‑8340
(855) 853‑8340
MXÂ Merchant
(800) 935‑5961
(800) 935‑5961