FAQs

Q?

Do I need to open a new bank account

A.

No.  The money transfers are made to the bank account that you indicate.  Settlements exceeding €1,000 within EEA are executed for free on the next business day.  But again you have options: you can open an account in any European bank and transfer all or part of the daily settlement money there.  You can even assist you in opening such an account with TrustPay where you will have you own unique IBAN number and eBanking access.

Q?

What other fees apply and how can I pay them

A.

There are 2 types of fees, the one-off fees (paid once) and the repeatable fees (per function).

The one-off fees that apply are:

Registration fee: This €20 (incl. VAT) fee is applied to register the Merchant and is applied once upon the installation of the first POS terminal of the Merchant. All future terminals of the same Merchant do not bare this fee.

Installation fee: This €40 (incl. VAT) fee is applied to each POS terminal to cover installation and training costs.

These 2 fees are collectable from the authorized engineer during the on-site installation of each terminal. (Accepted payment methods are cash or credit card)

Maintenance fee: This €30 (incl. VAT) fee includes all customer support and application upgrade costs. This fee is applicable only to owned POS terminals, and is applicable from the start of the second year of ownership. This fee is deductible from your Merchant Account.

The repeatable fees that apply are:

Settlement fee: There is a settlement fee for settling transactions lower than €250 (only for Merchants that fall within the Start-up Scheme), and this is set to €0.50 per settlement.  All processed transactions (till  1am past the businees day) , are credited on the next business day to the declared bank account.

Transaction fee: This is the MSC (Merchant Service Commission) that is normally charged for each transaction, which will be agreed between the Merchnat and PBT Payment Solutions Ltd.

Q?

Who is PBT

A.

PBT Group, is a payment solution provider, that was founded in 2009 and focuses on diverse and innovative services for payment processing.  PBT Payment Solutions Ltd, incorporated in 2015, is a subsidiary company handling POS card clearing.  Committed to supporting a secure, reliable and convenient payment system environment, the company secured a strategic partnership with TrustPay, a licensed payment institution providing secure e-commerce card payments, instant bank transfers and card acquiring.  TrustPay is a principal member of Visa® and MasterCard® and a member of SWIFT.

Q?

What does PBT stand for

A.

PBT stands for Pay By Tech(nology).

Q?

Which is the acquiring bank of PBT Payment Solutions

A.

The acquiring bank is TrustPay, VISA® and MasterCard® principal member as well as a SEPA and SWIFT Member. The Bank is regulated by the National Bank of Slovakia and have passported their license throughout the EEA area in 2010.

Q?

What are KYC documents

A.

These are the documents required/collected under the “Know Your Customer” doctrine, that institutions need to verify in order to prove the ID and good standing of the customer.  These could include: ID, Passport, Utility Bill, Company Registration Certificate etc.

Q?

Can I rent or buy a POS terminal

A.

You can do both.  We offer 4 different schemes in order to suit various needs/profiles; BRONZE, SILVER, GOLD & PLATINUM.

Q?

How much does it cost to buy a POS terminal

A.

If you wish to buy the POS terminal the cost is €300 + VAT for the desktop TCP/IP terminal and €420 +VAT for the GPRS terminal. For the latest terminal type, a data SIM card is required.

For purchased terminals a  €24 (for TCP/IP) and €60 (for GPRS) maintenance fee is applied that includes all customer support and application upgrade costs.  This fee is applicable only to owned POS terminals, and is applicable from the start of the second year of ownership. This fee is deductible from your Merchant Account on a prepaid monthly basis.

Q?

If I want to rent a POS terminal, what is the rental fee

A.

The rental fee depends on the merchant scheme you choose.

The rental fee is deducted from your account at the end of each month.  All telecommunication costs regarding the GPRS terminals, are included in all Packs.