Frequently Asked Questions

1. What are your rates for Visa, Mastercard, American Express, Discovery and Interac?
Transaction rates are based on a number of factors such as the kind of business you operate, the dollar volume processed, the type of card presented by the consumer and the method by which the card is accepted. Contact an Elavon representative today for expert advice and a quote specific to your business.
2. When will I see my Visa, Mastercard, Discover and Interac Sales deposited into my bank account?
Your funds will typically be deposited in your bank account the next business day after performing a batch close. The exact time of the deposit depends on the time of the batch close and the financial institution where your funds are deposited.
3. When will I see my American Express sales deposited into my bank account?
If you are using the Amex OptBlue program through Elavon, your American Express deposits will be included with your Visa/MasterCard/Discover/Interac transactions, typically next business day after batch close.  If you have a direct account with American Express, the settlement cycle is governed by your processing agreement with American Express.
4. What type of bank account do I require?
We require a business bank account at any Canadian financial institution, not a personal bank account. The currency of the bank account must match the currency of the merchant account (i.e. CAD deposited into a Canadian dollar bank account and USD deposited into a US dollar bank account).

To ensure that we are depositing funds into the correct bank account, you must provide a void cheque with your business name and address imprinted. If your company name and address is not imprinted on your void cheque, additional supporting information will be required.

5. What happens if I decide to change my banking relationship?
Simply call our customer care department at 1-800-725-1243 and we’ll walk you through the process. This type of change can only be authorized by the account owner and usually takes 1-2 business days to be implemented.
6. What happens if my business moves its location?
You can take your Elavon solution with you. All you will require at your new location is the same connectivity you had at your old location – a working phone line, internet connection, or access to the wireless network. Simply call our customer service department at 1-800-725-1243 to update the address we have on file.
7. What is a batch close?
A Batch Close is also commonly referred to as a Settlement or Deposit. The Batch Close function summarizes and totals all of the transactions processed by your business from the last time you performed this function and begins the process of settling transactions and depositing funds to your bank account.

Elavon offers 2 types of batch closes/settlement: Merchant Close & System Close. With the Merchant Close, you are responsible for initiating the Batch Close process & with the System Close, Elavon automatically settles your transactions on a daily basis.

8. Is my business restricted to sell only to Canadian consumers?
No. You can sell your products or services to any Visa, MasterCard, American Express, or Discover cardholder in the world and your transactions will be processed in either CAD or USD depending on the currency of your merchant account.
9. What should I do if I ever have an issue or a question?
We invite you to call our customer service department at 1-800-725-1243 with any questions that you may have as often as you wish – we’re here to help.
10. How can I manage my account online?
You can monitor your payment processing account online anytime, anywhere using MerchantConnect. View your monthly statements and detailed reports, manage chargebacks, and analyze your sales and payment trends.