Risk and Fraud/ Onboarding
Can a merchant request to be omitted from invoice requests?
Nope! Not even high TPV merchants.
Are all accounts required to have an EIN or Tax ID?
Nope! Only LLC's or Corporations.
How long is our card reader warranty?
1 year
Can a merchant request a card replacement?
Yes! We handle all card replacements, not the bank.
What is the processing fee for card present transactions?
2.75%!
If a merchant calls and claims the account is under his wife's information but she gave him access and he know's all of her info, can we assist?
No, unless the account holder (wife) is also present and gives verbal permission.
Would you advise a merchant to purchase a card reader before completing their registration?
Nope! Always encourage them to be fully onboarded to avoid a possible return.
If a merchant purchased a reader 6 months ago on Amazon and it is now blocked, is the replacement issued through us or Amazon?
Us! Amazon only handles returns/ replacements within their 30 return period.
Can merchants request to have same day payouts to their business account?
No, that feature is currently not available.
Are MCs required to provide an invoice for all large transactions?
Nope! Invoice requests are only made on certain high value transactions however we do advise MCs try to always collect a signed invoice/ receipt/ contract.
What time frame do we give merchants asking how long account onboarding takes?
1-3 business days.
Can a merchant who offers massage or gun repair services use our platform?
Nope! Both are restricted businesses.
Are all Lite readers out of warranty?
Nope! Some are still under warranty and can be replaced with a Plus/ Air reader.
Once a merchant opens a banking account, do their payouts get automatically routed to the new account?
Nope! They must request the bank change.
What are the two US territories we support?
Puerto Rico and Guam.
What is the workflow for merchants that need to start transacting ASAP?
Escalate their case to ONB Priority and post in the ONB slack channel.
What are the two legal types a merchant can choose from when creating an account?
Sole proprietorship and LLC.
What two stores can a merchant visit to purchase a card reader in person?
Staples and Verizon!
What bank handles our banking accounts?
Piermont bank
Can a merchant travel abroad and transact using their reader?
No, transactions can only be made in the US.
If an account is Alloy Approved - Processed, can the merchant start transacting immediately?
Yes, however they will not receive payouts until they are fully verified.
Can a merchant create an account without having a SSN?
Yes! They can also register using an ITIN.
If a merchant already owns a Solo reader where can they purchase their printer?
What kind of device does a merchant need in order to be eligible for a banking account?
iPhone or iPad! Banking is not currently available for Android users.
Do merchants pay a 2.90% fee for invoices?
Trick question! They pay 2.90% plus 15 cents per transaction.