Credit Card Processing
Q: When will credit card charges deposit into my Tuvoli account?
A: Credit card charges will settle to your Tuvoli account within 2 business days of processing the transaction.
Q: How do I get paid for a credit card transaction?
A: In order to get paid for a credit card transaction, you must open a Tuvoli bank account and have it listed as your payout account. Tuvoli - Linking your Commercial Bank Account with Tuvoli Banking including differentiating between ACH & Wire routing#s
Q: When will I receive funds in my commercial bank account once a transfer has been initiated
from my Tuvoli bank account?
A: When you transfer funds from Tuvoli to an outside bank with a wire during banking hours, you will receive funds the same day. We offer two different ACH transfer options: standard which is next business day and same day. Tuvoli- Transferring Funds
Q: How long do credit card holds/authorizations last?
A: Credit card authorizations expire after 30 days unless manually released earlier. Note: releasing the transaction is instant but the card holder’s bank may take several days to reflect the funds (it depends on the bank). Should the client need access to the money sooner, a receipt is provided (in Tuvoli) when the authorization is released. The client can then provide the receipt to their bank to release the funds immediately.
Q: What does it cost to transfer funds out of a Tuvoli account?
A: There is no fee to transfer money from a Tuvoli account using standard ACH. There is a $5 fee for Same Day ACH and $25 fee for wire transfer.
Q: What are the merchant processing (credit card) fees on Tuvoli?
A: The all-in total fee for domestic credit cards is 3.49% and international is 4.49%. There are no hidden fees for interchange, PCI compliance, authorizations or statements. This is very important since most credit card processors advertise a lower rate and add ‘hidden fees’ on the monthly statement which can bring the rate up an additional 1% or more.
Q: Are there any fees associated with processing a refund?
A: You will be charged the 3.49% credit card processing fee when issuing a customer refund. Said differently, the processing fee (of the original charge) is not refunded when you refund money to a customer. You (as the merchant account owner) will absorb any and all credit cards fees associated with the original transaction. Tuvoli- Merchant Services- Credit cards (processing a refund). The refund will be coming out of your Tuvoli bank account. Please ensure the funds are available, as reflected in your "available balance", and are at least equal to the amount of the refund. Tuvoli will notify you in writing if the rates ever change.
Q: When I process a refund, how long will it take for my customer to receive the funds back?
If you have the funds available to process a refund, the moment the "refund" button is selected, the process has been initiated. From there, it is up to the issuer to return the funds back to the cardholder. It depends on the cardbrand, could be anywhere from 2-5 days.
Disputes/Chargebacks
Q: How are disputes/chargebacks handled?
A: Disputes are handled between the Merchant (you), your Customer and the payment processor. Tuvoli does not perform any arbitration between the parties. A chargeback is when a customer/cardholder disputes a charge and begins the formal dispute process with the issuing bank of the card charged. It is then up to you (as the merchant), to provide any and all documentation to back up the charge. The more information, the better (for your protection).
Q: Who determines the outcome of a dispute/chargeback?
A: The outcome of a chargeback is determined by the payment processor based on documentation provided by the merchant (you) as well as your customer. The outcome decides if the funds will be returned to you. If the you win the chargeback, the funds will be returned. If you lose, they will not.
Q: Are there any additional fees for disputes/chargebacks?
A: Tuvoli may assess a minimal fee to the merchant to process/facilitate any communication on
a chargeback. If there is a fee passed on by the payment processor, Tuvoli will pass that
fee to the merchant as well. Tuvoli follows all banking and FDIC regulations under the jurisdiction of the US government.
Q: What other information do I need to know regarding disputes/chargebacks?
A: Chargebacks are deducted from your (as the merchant) Tuvoli bank account at the time they are assessed by the payment processor. If the funds are not available in your Tuvoli account, a fund
transfer will be required to settle the chargeback. By using our credit card portal, merchants
authorize Tuvoli to withdraw funds from the merchant’s bank account in case of a chargeback.
Failure to have funds to settle the chargeback available in their bank account may lead to a
disruption of your Tuvoli service. You (as the merchant) should save all documents pertaining to the charge in question. Tuvoli will facilitate the communication with the payment processor and the issuer, but Tuvoli is not part of the decision-making process on chargebacks. Tuvoli assumes the merchant will follow industry standard safety protocols when accepting credit cards and verifying the identity of the customer.
Credit card Knowledge Base Articles
- Tuvoli- Merchant Services- Credit cards (authorize, charge a credit card, send payment link)
- Tuvoli- Merchant Services- Credit cards (processing a refund)
- Tuvoli- Client Management (How to create a contact, where all client records are stored)
- Best Practices to Help Prevent and Defend Chargebacks