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Community State Bank is pleased to be able to offer Credit Card Processing to our Business Customers. MasterCard/VISA acceptance adds more payment options to your business as well as convenience to your customers.

In today's competitive marketplace, merchant transaction processing of MasterCard/VISA can give you a definite advantage over the competition. The following is a brief outline of the Community State Bank Credit Card Processing Program. It is designed to help you make your decision to enter the MasterCard/VISA transaction processing world. (Keep in mind that to participate in the Community State Bank Credit Card Program, you must have an existing Business checking account at Community State Bank.)

Merchant Processing Fee

As part of the EFT system there are transaction fees, MasterCard/VISA fees and statement fees. When applying for a merchant account with Community State Bank all these fees will be disclosed. These fees will vary depending on your merchant type, sales volume, ticket size, and processing method. These rates are monitored and adjusted (if appropriate) on a semi-annual basis.

Minimum Discount Fee

In order to cover the cost of line fees, authorization fees, MasterCard/VISA fees and account maintenance, a minimum fee of $15.00 per month is set for all merchants.

Merchant Processing Application Fee

The application to become a processing merchant must be accompanied by a $50.00 fee. This fee covers the application processing and the electronic merchant setup for a new account on the EFT processing system. If for any reason the merchant is not approved for processing, this fee will be fully refunded.

Electronic Data Capture (EDC) Equipment

All merchants will be required to be on the EFT processing system. (Community State Bank no longer accepts paper merchant processing.) By using the EFT processing system, all funds will be electronically deposited into your business checking account automatically. Options for Data Capture range from Dial-Pay (telephone capture) to stand alone terminals, to P.C. programs. Please call for current terminal pricing. The merchant does have the option to obtain other machines, but the machines must be compatible with our processing program.

Electronic Data Capture Terminal Printer

The EDC terminal printer is optional for the merchant. Community State Bank will make them available and compatible with the terminal you select.

Monthly Statements

All merchants will receive a monthly statement of sales volume that will reflect a breakdown by MasterCard/VISA transactions. This statement will also reflect the discount fee assessed for that statement. This fee will be automatically debited to your Business account.

Card Imprinter and Plates

The card imprinter and plates are available through Community State Bank at a cost of $15.00. (Not necessary when purchasing an electronic printer.)

Sales Slips

MasterCard/VISA sales slips are provided at NO CHARGE by Community State Bank.

MasterCard/VISA Signage

MasterCard/VISA window decals and plastic tent will be provided at NO CHARGE. (MasterCard/VISA metal outdoor signs also available at cost.)

Final Notes

It is suggested that when you use the EDC terminal, you use a dedicated line for transmitting. Each merchant is responsible for retaining the original sales slip for all transactions for a period of no less than three years. Any sale accepted by the merchant will be directly deposited to the merchant's business checking account as it clears through the EFT system. The ongoing monitoring of the Discount Rate will be based on actual sales volume (transactions) and the average sales ticket amount.

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