practiceQ Payments FAQ

Here are most of the frequently asked questions about various aspects of practiceQ Payments. If you have any questions not answered here, please email us and let us know!

Is practiceQ Payments HIPAA/PCI compliant?

Yes, practiceQ Payments is fully HIPAA and PCI compliant. All credit card information is stored with the merchant, and only payment data is transferred for processing.

One note in regards to PCI compliance. You will not be enrolled in PCI until you have processed a transaction, and will then have 90 days to complete the PCI compliance assessment we send to you.

What types of cards are accepted for payments?

We accept all major credit cards: American Express, MasterCard, Visa, and Discover.

Are HSA/FSA cards accepted?

We do accept HSA/FSA cards, as long as they are issued by one of the major card brands (Visa, Discover, Mastercard, or Amex). However, it's also MCC (merchant chain code) dependent. If the MCC doesn't align with a business that should be accepting HSA/FSAs, it could fail.

Does practiceQ Payments accept ACH transfers?

Currently it does not, but this is planned for the future. We don't have an ETA at this time though.

Is there a processing fee when refunding payments?

No, though please note that you are not refunded the original processing fee from the payment that was originally processed.

Are there any transaction limits?

There is a per-transaction limit which is determined from information you add to your application as well as our risk assessments (contact us if you are running into any issues with this). There is no monthly transaction limit or anything further.

Do you offer any type of gift cards?

No, practiceQ Payments doesn't support gift cards.

Is there a card reader to swipe physical cards in person?

Not at this time, there will be one coming in the future!

Do you process international transactions?

Yes, from most countries. Certain countries are banned by the US so we cannot process payments from those. You can find that list here: https://home.treasury.gov/policy-issues/financial-sanctions/sanctions-programs-and-country-information

There is a 1% added fee on all international transactions.

What happens to existing credit card info stored in Stripe/Square?

Stripe: You can contact us (hello@intakeq.com) to request that we transfer Stripe card data into practiceQ Payments. This will allow you to keep the card data you had stored so you won't have to ask your clients for it again.

Square: The existing card info doesn't transfer in to practiceQ Payments, you'd need to collect the card info from your clients again. We suggest doing this via a consent form if you'd like to simply capture and store it on file for future use, see the following article: Capturing Credit Cards with Consent Forms

Can I start the application process but stay connected to my current payment processor?

Yes, please email us and we'll provide the direct sign up information.

When do I receive my deposits?

All transactions will automatically batch out each day by 8pm Eastern and will deposit within 48 business hours. Any transactions run after the cutoff time of 7:30pm Eastern will go into the following day's batch.

When do processing fees come out of my account? 

Fees will be subtracted from the daily deposit, in a separate debit transaction from your bank account. See "Gross Funding Information" below for more details on this.

How are payment disputes handled?

Currently any payment disputes will come in to our support team and we'll reach out to you to handle them. In the near future we hope to have this as part of the "Payment Dashboard" you can access, that way you'll be able to take care of any disputes yourself. Please note that there is a $25 fee for each payment dispute received, regardless of the outcome.

Do you issue yearly 1099k forms?

Yes we do, these typically come out at the end of January. They will be mailed to the merchant address on file (you would have provided it when you submitted an application for practiceQ Payments).

How do I change the bank account my payment deposits are going to?

To change the bank account we deposit your funds into, we'd need either a voided check or a bank verification letter. Send that to us via email and we'll have the merchant team make the change. It should take anywhere from 1-3 days to complete, assuming the information provided checks out.

Gross Funding Information

As a practiceQ Payments customer, you will automatically be boarded to receive gross deposits. Gross funding is when the deposits in your bank account match your daily batch totals.

For example, if you ran $1,000 in transaction in a single day, and your fees totalled $29, you would see a single deposit of $1,000 to your bank account, followed by a single debit of $29. The net amount would then total $971. This makes reconciliation much simpler within your bookkeeping system of choice.

Transactions taken by 7:30pm Eastern each day will be funded to your bank account within 48 business hours. You'll see these transactions from the name *STAX*IntakeQ on your bank statement.

NOTE: We cannot guarantee that processed funds will be deposited before the fees are debited from your bank account, so it's best practice to always carry a balance in the account to cover any potential fees, refunds, disputes, etc.

How do refunds show in bank deposits?

Here is a rundown of how refunds are processed in deposits, using the example of a $2000 sale where $100 was refunded:

If the $100 refund is done as a part of the same daily batch, it will show in your bank account as a deposit of $1900 for that day.

If you run the sale and the refund before the batch has closed for the day, it never settles, so the refund would be counted as a "void". If that was the case, the total deposit (assuming it was just that one transaction) would be $1900. However, if it was a true refund, where it was processed after the initial batch was closed, the full $2,000 would be deposited from the original transaction, and the $100 refund would be taken out of the batch on the day of the refund.

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