Merchant FAQ’s

Merchant Accounts Frequently Asked Questions (FAQ’s)

Here you may find the answers to some of the most common questions regarding merchant

Merchant is an industry term used to describe a business that accepts card payments

A Merchant Account is a specific business account that will allow you to accept and settle card

Card Cutters can setup your Merchant Account. We will work with you to complete an application
form. Most of the form can be completed by Card Cutters and we can then give you a helping hand
to fill in the remaining part of the application form and guide you to supporting documents that will
be needed once you receive it from us.

For us to be able to submit a Merchant Account application you will need to supply us with:

  1. A business bank account.
  2. Or a personal account if you are a Sole Trader
  3. Proof of your business and the business address (for each business partner).

Once the application form is complete we will submit this on your behalf to the Merchant Requirer.

The great news is that Merchant Accounts are completely free to apply for. The only fees that you
will be required to pay are against the transactions you process as a business which will vary
dependent on the type of contract you choose with Card Cutters. We will always be upfront with
costs associated to the type of account you wish to set up with us when you call.

Each business is reviewed as an individual and will be reviewed in terms of the risk you may pose to
the Merchant Requirer. Card Cutters can provide you with further clarification on this when you call
to discuss a new application.

Card Cutters can provide you with a terminal; however, we are only able to link to our chosen
Merchant Requirers AIB Merchant Services and Evo Payments UK. We can set up your Merchant Account and discuss your terminal requirements when you give us a call to apply.

Card Cutters are one of the leading providers in the UK for Seasonal Business Merchants. We can
offer some great packages that help keep your costs in check when out of season.

Your Merchant Account Statements are issued on the first working day of each month and will be
sent to you within 2-3 days of issue. You can also view your statements online providing we have set
you up with the AIB online banking facility previously. Here you can view recent statements and
transactions, as well as download this information if you should choose to. This service is available
free of charge. Those who wish to be setup should contact the AIB Helpdesk on 0845 301 5407.

Charges for your Merchant Account will be taken automatically on the 15th of each month by Direct
Debit. If you have rented a terminal from Card Cutters, your rental charges will also be taken on the
same date via a separate Direct Debit.

A Merchant Account is undertaken on a 30-day rolling agreement, this means we will require 30
days’ notice to cancel your account without any penalty charges. If you have an ongoing contract
with Card Cutters for your terminal rental, you will always incur a penalty charge, this will vary as per
the type of contract you have with Card Cutters and will be outlined within your contract terms and
conditions. We will be more than happy to go through any charges you may incur with us by giving
us a call.