| POS FAQ's | ^Back to Top |
Q. Do I have to change banks or bank accounts?
A. No, all deposits will continue to go into your existing business account | |
Q. Can I buy / lease the machine from the bank?
A. No, banks only work on a perpetual rental basis. You pay as long as you have the unit | |
Q. What do I do if the machine breaks down?
A. Monex provides True 24 / 7 technical support. Whether its 2pm Tuesday or 2am Saturday, there will always be someone available to take your call! | |
Q. Are your machines brand new?
A. Yes, all of our units are brand new and are compliant with Interac regulations | |
Q. What about new technologies?
A. Most changes are software related. Monex will always make these upgrades available to our customers | |
Q. When will my Visa and MasterCard transactions be deposited into my account?
A. Generally within 48 hours depending on your bank | |
Q. How quickly can I get my terminal?
A. We can get you the terminal with Debit enabled within 2 days. If you require the terminal to have credit cards activated, it will generally take an additional 5 business days | |
Q. How quickly will a terminal be replaced if there it is not working?
A. A replacement terminal will be shipped to you via overnight courier | |
Q. Do I have to buy the terminal?
A. We have purchase, lease and rental options available | |
Q. Is there a warranty?
A. We have a lifetime warranty on all of our POS terminals | |
Q. What if your company goes out of business?
A. Our company is extremely stable and not going anywhere but up! However, for argument’s sake, all contracts would be honoured and your processing would continue unchanged | |
Q. Is the machine easy to use?
A. Our terminals are all very user friendly! | |
Q. Is there a machine that I can use for deliveries?
A. Absolutely. We have the ideal long range wireless device for all of your needs. Click for details. | |
Q. I own a restaurant, do you have a machine that I can take to my tables?
A. Absolutely we have the ideal short range wireless device for all of your needs. Click for details. | ^Back to Top |
Q. Can the machine be programmed to accept tips?
A. All of our terminals are tip capable. Simply let us know, and we will set it up! | |
Q. How can I get a record of all my transactions?
A. Monex offers all of our clients online reporting for any date range. | |
Q. Which bank are you affiliated with?
A. Monex is a bank neutral organization. We work with any Canadian chartered bank. | |
Q. Is our money safe if we are not processing through the bank?
A. All electronic transactions go through the Interac network and are subject to the same stringent guidelines. This ensures that all of your transactions are safe and accounted for regardless of who is providing the services | |
Q. Do you provide receipt paper for the machines?
A. All of our terminals come with a supply of paper and we also sell paper at extremely competitive prices. Click here for details. | |
Q. Can you guarantee that I will be accepted for Visa and Mastercard?
A. Visa / Mastercard acceptance is subject to a credit check by our preferred merchant services provider. | |
Q. Can credit card acceptance be added at a later date?
A. Of course. We simply need to fill out an application. | |
Q. What rate can you provide me for Visa / Mastercard?
A. Rates are based on your business volume and average transaction size. We will guarantee extremely competitive rates! | |
Q. How will I know if there are enough funds in my customer’s account?
A. The terminal will either approve or decline all transactions. Both the terminal screen and the receipt will indicate if the transaction is completed. | |
Q. Can I charge a fee per debit transaction?
A. Absolutely. We can program the fee to any amount you prefer | |
Q. Can I charge my customers only if they buy a low purchase item?
A. Many of our merchants choose to charge a fee if the transaction amount is small. This makes complete sense as your profit margin is obviously much thinner. | |
Q. Can I surcharge on credit?
A. Visa / Mastercard regulations prohibit surcharging on credit card transactions | |
Q. Do I require a separate phone line?
A. You can use your existing phone line. | |
Q. Do you have machines that can process faster (through internet)?
A. Yes, our internet, high speed terminals are ideal for high traffic stores and restaurants! Click here for details. | |
Q. If I get the internet, high speed terminal, do I have to have a computer present?
A. You only need to have high speed internet enabled, no computer is required | |
Q. If the internet is down, can I use a regular phone line to process transactions?
A. Yes, the terminal can be programmed to process through a regular phone line. | ^Back to Top |