FAQs about FTK & the Card Processing Industry

We know you’ve got questions. We’ve got answers! Below are answers to some the most Frequently Asked Questions we receive about FTK Management and the credit card processing industry in general. Please feel free to contact us with any further questions that you may have.

What companies do you represent?

Our company, FTK Management, represents several processing banks. This way we are able to custom-place each type of merchant with a bank that will maximize our client’s savings.

How long has your company been involved with debit and credit card processing?

Since 2000. We write contracts in most industries, from low to high risk-type accounts.

Can I really experience a savings by changing card processing companies?

The savings are real. We want our clients to think of us as ‘Keepers’ so we work to create long-term business relationships with our clients. Our company believes in setting rates as low as possible so that competition will not be able to undercut our rates. We usually try and save the business merchant between 10-40% on their processing costs. In many instances the savings exceed 50%. This adds to that vital bottom line on a monthly basis.

What will it cost me to change processing companies?

Unlike other companies we do not charge account set-up fees or application fees. We can either reprogram existing equipment or we supply FREE equipment for as long as clients process with our company. There really is no out of pocket cost involved. We analyze the current processing statement and understand what a chore it is to fill out unfamiliar forms, so we prepare most of the paperwork and walk the client through the process.

What do you mean when you say your costs are the same as your competitors?

FTK is subject to the same processing fees from Visa and Master Card that large banks and other companies pay.

If your costs are the same how can FTK charge so much less than its competitors?

We strive to keep overhead to a minimum. We don’t have costly offices, fancy desks or label suits. This results in savings for us which in turn we offer our merchants.

Will there be interruption to my daily business by this change-over in service?

After the account has been approved and set-up with the processor, the equipment will be scheduled for a reprogram. If our FREE equipment is provided, it is a matter of simply plugging in the new pre-programmed equipment. This is all coordinated with the customer service, usually only taking 15 to 20 minutes to complete.

How long does it take to receive my payments?

After daily business is batched, it takes 1-2 days to receive payment direct to the merchant’s bank account.

What if I have a current lease on my processing equipment?

We recommend that you closely monitor when your lease termination time is up. Once you are free from the lease, we recommend purchasing equipment over the internet such as eBay. The standard equipment can be purchased this way for around $100- $300 dollars and will create large month to month savings in the future OR we can supply you with FREE equipment for as long as you are processing with us.

Are there set-up or application fees?

NEVER with our company!

What if I’m already in a contract?

No problem. We cover the merchant’s early termination fee up to the industry standard of $295.00 so you can switch with peace of mind and begin saving immediately.

Do your solutions impose an Early Termination Fee?

No. We don’t want to force anyone to stay with us against their will. Yes, we have contracts, but there are NO Early Termination Fees if you wish to go somewhere else.

Why do some other companies charge more for this service?

Our company wants to create long-term accounts by giving merchants the best deal.. Other representatives may not be looking out for the merchant’s best interest. They may set rates that are not competitive and charge unneeded additional fees. Unfortunately, they want to make as much money as possible in a short period of time before the merchant realizes that they are overpaying and then searches for other processors.

FTK Management wants to earn your business and create a long-term relationship while at the same time create realized savings for your company that will positively affect your financial position. As stated before, we want to be seen as “Keepers”.

Your company sounds so good. Does anyone ever leave FTK?

Yes, there are three reasons why a merchant will no longer process with FTK. 1) The merchant sells the business, though we usually end up processing for the new buyer through the seller’s recommendation. 2) The merchant’s time on earth is up. In other words, the merchant dies. 3) With the busyness of life and business, the merchant forgets how much money they are saving with us when a new competitor approaches them with promises of future savings. We often see this merchant come back after a few months of processing with the new processor, after they realize the competitor has included undisclosed, hidden fees in their statements.

Please call with further questions. We look forward to you sending a copy of your most recent processing statement for a free analysis and quote. Please black out your account number. Thanks

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