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Payment Depot FAQ’s

How is Payment Depot different from credit card processors?

Payment Depot was started out of frustration with traditional credit card processing companies. We are a membership company who set out to be different by protecting members with a transparent pricing structure. Our program gives members direct access to the base rates established by credit card brands, allowing them to bypass percentage markups and extra fees. Payment Depot members accept credit cards with confidence knowing they are only paying wholesale.

 

How much will I save with Payment Depot?

On average, we save members $400 or more! Payment Depot has no processing fees, so the more you process the more you save.

 

How do I get approved?

All banks require businesses to go through an approval process to protect against potential fraud. At Payment Depot, this process is usually completed within 24 hours.

 

How soon are funds deposited into my account?

Funds are deposited directly into your account within 24 to 48 hours.

 

How soon can I get set up?

Our online application takes only 10 minutes to fill out. Approval time is usually 24 hours. Once you are approved a representative will contact you to go over your equipment options.

Will I have capability of Keyed-Entry through a web portal to take payments over the phone (card not present)?

YES, it’s free and included in the membership. Click here for a quick demo

Will I be able to make payments in three monthly installments, will the keyed-entry system allow me to specify the amount to be taken on specific dates so I don’t have to go back and manually process each of those payments each month?

YES, you can set up a customer on a recurring basis and have it end on a certain date

 

What is the typical effective rate with your Payment Depot service?

With Payment Depot, paying only the government regulated interchange rates, practices see 1.5% to 1.8% effective rate.

 

How often do you batch and deposit funds?

Batch Out Once a Day // Funds are deposited in 24 – 48 hours depending on when they batch out.

 

Do you provide next day or same day funding?

YES – (if they batch out before 6PM EST, they will see their funds the next day)

 

Does Payment Depot provide an online payment portal for a patient to login and submit their own payments instead of calling into the dental practice or mailing in a check?

We have a simple solution through a “pay now” button that we could set up through a virtual terminal. The practice would add this to their website (this solution requires that they have their own website). The patient can pay their outstanding amount directly through the website and the dentist can track it on their end. If a practice would like this setup, just have the Gargle representative mention the “Pay now” button in their email during the onboarding process.

Gargle – Marketing Savings Portal