This article is part of a series on “Qualifying to Make Sure Clients are a Good Fit.”
Before you break out that Telpay Application, as a Partner you have one more qualifying step to walk through with your client: determining your client’s anticipated payment processing needs. We define this as “Processing Limits”, which is the maximum dollar value payment file that your client is able to process. We recommend you work with your client to help them estimate how much money they will need to meet payroll, payables or a combination of both.
Once you have determined your client’s processing volume, the next step is to choose the appropriate processing limit.
Processing limits are based on how your client fund’s their payment files to Telpay; these are known as Option 1 – Send Funds to Telpay or Option 2 -Telpay Debits Account.
Option 1 – Send Funds to Telpay:
- The processing limit is $30,000.
- Limits over $30,000 require approval and limit requests over $100,000 require a limit review to be performed by Telpay.
- Limit reviews are charged a review fee of up to $150.00.
Option 2 – Telpay Debits Your Account:
- The processing limit is $30,000; total combined debits to your clients account cannot exceed this processing limit over a 3-day period.
- Limits over $30,000 require a limit review and approval.
- Limit reviews are charged a review fee of up to $150.00.
- Note: The 3-day Debit Processing Limit is capped at $250,000.
NOTE: If your client determines they require a processing limit after an application has been sent to Telpay, a Process Limit Increase form must be completed and returned to Telpay. A limit review and fee may apply.
If you need further clarification, please contact your Business Development Consultant at 1-800-665-0302.
Next issue, we’ll walk you through our application process.