We’re with you every step of the way at Collective P.O.S. In this section, you’ll find answers to the questions business owners like you ask us most often. If you can’t find the information you need here, please don’t hesitate to get in touch with us. Help is always just an email or phone call away!
What are your rates for Visa, MasterCard, AMEX and Interac?
There is no standard answer to this question. Transaction rates are based on a number of factors such as the kind of business you operate, the dollar volume processed, the type of card presented by the consumer and the method by which the card is accepted.
That being said, Collective P.O.S. has some of the lowest transaction processing rates in Canada and offers a lowest price guarantee - if you ever find a lower qualified rate, we’ll beat it! Request a quote or call us today to find out more.
What type of warranty do you offer?
We offer a lifetime, repair or replacement program for all of our P.O.S. terminals and PIN pads. Simply call our customer service department at 1-877-777-6603.
Abuse and misuse are excepted. You must be a customer in good standing to qualify.
When will I see my Visa, MasterCard and Interac sales deposited into my bank account?
Your deposits will typically show up in your bank account within 1-2 business days after performing a Batch Close function. The exact time of the deposit depends both on the time that a Batch Close function is performed and the financial institution that you bank with.
When will I see my American Express sales deposited into my bank account?
Your settlement cycle for AMEX is governed by your processing agreement with American Express. Your deposits will show up in your bank account after performing a Batch Close function in accordance with your agreement.
What type of bank account do I require?
Our only requirement is that you have a business bank account at a Canadian financial institution, not a personal bank account. Your bank account can be denominated in either CAD or USD currency.
To ensure that we are depositing funds into the correct bank account, you must provide us with a copy of a void cheque with your business name and address imprinted. If your company name and address is not imprinted on your void cheque, additional supporting information will be required.
How does COLLECTIVE P.O.S. affect my current banking relationships?
We don’t. We process Visa, MasterCard, AMEX & Interac transactions and deposit the proceeds to the same bank accounts you’ve already set up. We work with every Canadian financial institution and do not require you to make any changes.
What happens if I decide to change my banking relationship?
Simply call our customer service department at 1-877-777-6603 and we’ll walk you through the process. You will be required to provide a copy of a new void cheque with your business name and address imprinted. This type of change can only be authorized by the account owner and usually takes 1-2 business days to be implemented.
What happens if my business moves its location?
You can take your Collective P.O.S. solution with you. All you will require at your new location is the same connectivity you had at your old location - a working phone line, internet connection, or access to the Rogers wireless network. Simply call our customer service department at 1-877-777-6603 to update the address we have on file.
What is a Batch Close?
A Batch Close is also commonly referred to as a Settlement or Deposit. The Batch Close function summarizes and totals all of the transactions processed by your business from the last time you performed this function and begins the process of depositing funds to your bank account.
Collective P.O.S. offers 2 types of batch closes/settlement: Merchant Close & System Close. With the Merchant Close, you are responsible for initiating the Batch Close process & with the System Close, Collective P.O.S. automatically settles your transactions on a daily basis.
Is my business restricted to sell only to Canadian consumers?
No. You can sell your products or services to any Visa, MasterCard or American Express cardholder in the world and your transactions will be processed in either CAD or USD depending on the nature of your account.
What is a Convenience Fee? How do Convenience Fees work?
A Convenience Fee is a charge added to a consumer’s debit transaction in return for the convenience of using an Interac card for the purchase of goods and services or the disbursement of cash-back.
The questions of how much to charge or whether to charge at all are completely at your discretion. If you do decide to charge a Convenience Fee, your customer will be notified on the PIN pad and must approve the convenience fee before the transaction is processed. If a consumer declines the fee, the transaction will be cancelled and another method of payment may be tendered.
Can I charge a Convenience Fee on credit card transactions?
No. Visa and MasterCard prohibit surcharging on credit card transactions.
Where can I buy receipt paper and supplies?
We carry a full range of receipt paper, manual imprinters, carbon credit card slips, cleaning supplies and other accessories needed to keep your transaction processing running smoothly. Our prices are extremely competitive and all orders will be shipped directly to your front door. Simply call our customer service department at 1-877-777-6603 to order.
Many accessories are also available at your local business supplies retailer.
What should I do if I ever have an issue or a question?
We invite you to call our customer service department at 1-877-777-6603 with any questions that you may have as often as you wish – we’re here to help.