Who is Ethix?
Ethix is an Independent Sales Organization (ISO) in the merchant account credit card processing business. We facilitate the setup of merchant accounts for businesses and non-profits of all types; we board our merchants with First Data, the largest processor in the country.
How can Ethix give away 10% of its gross revenue? That sounds too good to be true. Is there a catch?
No, there is no catch. Ethix receives a monthly residual commission from your credit card processing fees; with our program we donate 10% of these commissions to your selected cause.
The program sounds great but we are in a contract with our current provider; can we still participate?
Every merchant in the United States is under contract with a provider; however, merchants switch providers every day. The only issue is whether there is an early termination fee. If there is, Ethix will reimburse that fee.
Is there any difference between the merchant account services we currently receive from our existing provider and those services we will receive once we sign up with Ethix?
No, all processing companies provide the exact same merchant account services.
How long will the conversion take, and how much time do I need to devote to it?
We only need about 20 minutes of your time to complete the on-line application. After that, we handle all of the details to get your account switched over, including the re-programming of your credit card terminal(s). From start to finish, most conversions are completed in a week and take less than two hours of your time.
What is it going to cost us to switch our services to the Ethix program?
We do not charge you anything for your conversion.
Are there any hidden costs or fees to switch to Ethix?
No, we do not charge any hidden or ancillary fees.
What are your rates?
We charge a flat rate of Interchange pass-through plus 0.25% and $0.10 per transaction. This pricing structure is very competitive and our customers typically save a significant amount on their monthly fees
|Monthly Volume||Monthly Savings||Annual Savings||5 Year Savings|
This table shows the estimated savings our merchants realize when switching to Ethix.
Your rates are great but are they guaranteed to stay there?
Yes, other than annual pass-through increases mandated by Visa and MasterCard directly, we guarantee in writing not to raise your rates.
I’m currently processing with my bank, will switching to Ethix infringe on my banking relationship?
No, switching to Ethix will not infringe or negatively impact your banking relationship. The banks that provide merchant services board their clients with the same processing companies as the ISO’s.
Will we need to purchase new equipment to switch to Ethix?
No, we will re-program your existing equipment.
When will our organization of choice receive our designated donation funds?
We receive our revenue payment from Visa and MasterCard processing approximately 25 days after the close of each month. We require about two weeks to process the accounting, so your chosen non-profit will receive the donation check within 45 days after the close of each month.
How long will the non-profit continue to receive donations on our behalf?
For as long as you continue to process with us.
Will I get a tax write-off for the donation amount?
No, you are already writing off 100% of your merchant account fees as a business expense.
What type of business can participate in the program?
Any validated business within the United States that accepts credit cards, debit cards or ACH (automatic withdrawal check services) as a form of payment from its customers.
Will the non-profit organization know that the donation came from our business?
Yes, we send a report to the non-profit with every check indicating the total donation amount they received on your behalf.