| Q: |
What percent is my processing rate?
| A: |
The
Processing rate will be on your contract. Contact your sales
rep or if you are unable to
locate your copy of the processing agreement, please contact bpj@achbill.com. |
|
| Q: |
What
is the life cycle of an ACH transaction?
| A: |
There are several paths a transaction can take. Below is
a list of the possible lifecycles of a transaction: Check
Pre-Note --> Check Pre-Auth --> Check Settlement
-or-
Check Pre-Note --> Check Pre-Auth --> Check Settlement --> Check
Refund
-or-
Check Pre-Note --> Check Pre-Auth --> Check Settlement --> Check
Late Return
-or-
Check Pre-Note --> Check Pre-Auth --> Check Return
-or-
Check Pre-Note --> Check Return
-or-
Check Pre-Auth --> Check Settlement
-or-
Check Pre-Auth --> Check Settlement --> Check Refund
-or-
Check Pre-Auth --> Check Settlement --> Check Late Return
-or-
Check Pre-Auth --> Check Return |
|
| Q: |
What
is a PreNote, PreAuth, Check Settlement and any other term I should be
familiar with?
| A: |
Here's a
list of terms: Check Pre-Note: This is when we are sending
a Pre-Notification of the pending debit entry to allow the RDFI
(consumer's bank) the opportunity to return (Check Return) or
correct (Notice of Change (NOC)) the item. The pre-notification
process involves validation of the ABA and bank account number only.
Check Pre-Auth: This is when we request the funds from the
bank (initiate the ACH debit entry).
Check Settlement: This indicates that the Check Pre-Auth has
not been returned by the RDFI (consumer's bank) prior to the
specified time period indicated in the Service Agreement the
merchant and WTS entered into
Check Return: This means that the RDFI (consumer's bank) has
returned the item prior to the specified time period defining a
Check Settlement (Settled Funds) indicated in the WTS Service
Agreement.
Check Late Return: This means that a Return was received by
WTS after a Check Settlement.
Check Refund: We have refunded this money back to the
consumer.
Notice of Change (NOC): This means a response from the RDFI
that WTS needs to make a change to the ABA or bank account data in
order to properly process the entry. |
|
| Q: |
How long does a settlement take?
| A: |
The average
is around 14 days. |
|
| Q: |
How long does a Pre-Note take to
convert to a Pre-Auth?
| A: |
The average is
6 days. |
|
|
Q: |
How long does a Pre-Auth take to
convert to a settlement?
| A: |
The average is 8 days. |
|
|
Q: |
How many retries will WTS initiate for a transaction?
| A: |
There is a max of 3 times including the initial try after first NSF. |
|
|
Q: |
What's the least number of days I can
use for a paid trial?
| A: |
Due to the nature of ACH processing, we will not
rebill until the 7th day on any paid trial. Paid trials will recur
after 7 days or more. |
|
|
Q: |
What is an ACH NOC?
| A: |
An ACH NOC means an ACH Notification of Change.
This means the bank changed some detail relating to the transaction.
The authorization code will contain the reason for the change. |
|
|
Q: |
I have a consumer account that shows
as "Active" and I received an email from WTS saying the account was
deleted because of insufficient funds. I see the consumer
has recurring billing that continues each month. Is this account
really active or should I remove this consumer?
| A: |
As soon as our system receives notification that
the transaction has been returned because of insufficient funds or
any other reason, we immediately disable the account by sending an
action=delete postback.
When the retried transaction is approved, we re-activate the account and continue the recur
billing. As long as the check return reason is NSF
(Insufficient Funds), we will continue to re-bill the consumer, and
the account should remain active.
The same retry rules apply to any NSF transactions. |
|
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