Cancellation Policy


PLEASE NOTE:   This policy only applies if payment is involved…many of our services, including setup of merchant accounts, mostly come without an upfront fee.
If there is a fee for a merchant account, it’s only after approved and Merchant ID (MID) issued and is simply passed on from the bank providing the MID.
For corporations and settlement bank accounts, fee is passed on from the incorporation service at time of request for incorporation.


IBC Merchant Accounts
processes applications & order forms requesting service for account setup, and the payments for such, immediately when they are received.  However, IBC Merchant Accounts offers its applicants the right to cancel payments for initial setup services (via written notification) within 24 hours of the transaction being *submitted with no questions asked.  After the cancellation period, the payment for services is final, and no cancellation or refund for such can take place.  The reason for this is that we pay out the affiliates we contract with right when we receive payment from our customers.  This is to ensure the expeditious handling of our customers’ accounts and services.

*IBC Merchant Accounts processes transactions for services to be rendered immediately when they are submitted.  A transaction is said to be “submitted” once the payment for services to be rendered is submitted via e-mail or post delivery by the party requesting service. “Service” includes, but is not limited to, the document processing for, and the setup of, an international corporation, bank account, merchant account, chargeback mitigation account, website hosting account, or any combination thereof.


Merchant Accounts (process & special rules)

When receiving an application for a merchant account, we place the client’s information with the underwriting department of the most appropriate bank for that particular business based on information provided to us on the application the client completes.

If a Merchant Account is rejected one time, no payment is required at all.  However, once the merchant is rejected by the first bank we send it to for underwriting, if the merchant chooses to move forward with additional processing solutions, then an *initial payment will be required to continue underwriting the account with other more high risk friendly banks.  This initial payment is not refundable, but it will go towards payment to the bank of whatever account we ultimately get the business approved under.

*IBC Merchant Accounts sends an invoice from its accounting department to the client shortly after a service has been requested or merchant account approved. Prices included on the invoice are quotes for initial payment.  A payment is said to be “initial”, mostly just in the case of Merchant Accounts if and when there are to be additional future fees for services.  All payments for invoiced items are “initial payments” unless stated otherwise.

We have a formatted structure to the process by which we put merchant applications through, and we begin by sending the client’s information to the bank most likely to approve the business at the lowest fees possible.  We work with many different banks, and because of this, we have a very high track record for getting businesses approved and processing.


IBCs & Settlement Bank Accounts (process & special rules)
When receiving an order for an IBC and/or bank account, we invoice the client, and once we receive payment, we submit the application for the incorporation and/or bank account for that particular client.

For an IBC, the client completes and returns the information necessary for setup of the IBC, which will be started immediately.

For a bank account, the client already has the name of the bank, and the first half of the process is complete.  The client then sends the application and supporting documentation to us for review, and if the bank does pre-approvals, we then forward the package of documents to our contact at the bank for pre-approval.  If there is more required, or if something isn’t completed correctly, the client is notified and the previous step is repeated until there is an approval.  This completes the second half of the process. If nothing else is required, the client is instructed to send all original documents to the bank for final approval, and the bank opening package is sent out to the client via courier.

In summary of our policy, the procedures for the services we provide in relation to setting up credit card processing accounts for online merchants are there to ensure the expeditious handling of any and all services we provide.  It is due to this goal to provide quick service that we must have a cancellation policy that matches it.  Should any prospective client or reseller purposely withhold information that would otherwise assist us in providing such expeditious services and that would possibly affect the way in which we would successfully acquire such services, we reserve the right to charge for time spent on an hourly basis.  An example of this is that a merchant, applying for credit card processing, has been terminated by a processor/card acquirer in the past.  Please don’t hesitate to inquire about anything unclear about this policy.

 

Thank you for your interest in IBC Merchant Accounts, a P.C. Commerce Ltd. website…
“Providing Better eCommerce Solutions for Online Businesses.”