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.

Can you break down the fees for processing?

2.9% + 30¢ per CC payment
1% ($10 Cap) per ACH payment
1% added fee on all international transactions
Up to $25 for ACH transactions that fail to settle
$25 per dispute submitted against you, and an additional $25 per won dispute that enters pre-arbitration
$15.00 per dispute inquiry
$500.00 to enter arbitration for a dispute
Additional dispute fees may be levied during arbitration for a lost arbitration
PCI Compliance Fees: Applicable once enrolled into PCI or after 90 days if not compliant (PCI Non-Compliance Fees of $54.95 will be assessed each month if you are non-compliant. PCI Platform Fees of $10.00 will be assessed each month for participation in the program once you are compliant.)

Fees are non-refundable, meaning that a refunded transaction does not refund the transaction's processing fees, and disputes won do not refund the dispute fee.

Will my account stay open if I stop processing?

Processing accounts are identified for de-activation after 60 days of no processing activity. We will reach out at that time to confirm if you want to keep the account open. If you no longer wish to process, please reach out to us so your processing account can be de-activated.

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?

Yes! PracticeQ allows ACH bank account entry through a consent form or manual entry on the client profile. This will allow ACH transactions to be used for invoice payments and recurring payments. The fee for ACH is 1% capped at $10 per transaction.

Please note that ACH transactions take up to 8 business days to settle with the banks. We deposit the funds after 5 business days, before the transaction settles to get you the money more quickly. If the payment ends up not settling, we would then deduct the funds from your bank (referred to as an ACH clawback).

Refunds: The option to refund ACH payments is held by our system for 5 days to help avoid issues with ACH reversals after a refund has been placed. Keep in mind that an ACH payment can still be rejected by the bank after 5 days, so we recommend waiting at least 8-10 days before submitting a refund, to give additional time for a potential reversal.

Please note there is an ACH return fee of up to $25 for ACH transactions that fail to settle.

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.

How long does it take for a Credit Card refund to process?

The refund back to the credit card is funded within 48 business hours, the same timeframe as payments. However, once the funds have been sent back to the card, it can take an additional 2-10 business days for the refund to post to the card, depending on the CC used.

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.

Annual Gross Revenue and Transaction Sizes

When you sign up for PracticeQ Payments, you are asked to provide data on your Annual Gross Revenue, as well as your Average and Largest Transaction Sizes for both CC and ACH payments.

This information is used as part of the financial risk assessment for your account. This is because our processor's sponsoring bank is funding your processing and refunds, and they must confidently be able to recoup those amounts from you accordingly. The larger the processing amount, the larger the risk our sponsoring bank is undertaking.

If you would like to increase your annual, average, or largest transaction sizes, or would like to review the numbers you reported previously, please contact us. We recommend re-assessing your financials on an annual basis to ensure these amounts are accurate year over year.

Do you offer any type of gift cards?

No, PracticeQ Payments does not support gift cards.

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

Yes! PracticeQ Payments currently offers the Deja-Vu QD4 as a physical card terminal for $350. This terminal must be connected to a WIFI to work. We do not have a mobile card reader at this time, but we are currently researching options. If interested in the QD4, please fill out the form here.

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?

You can contact us to request that we transfer Stripe or Square 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. We'll send you the info on how to start the migration process and work with you to get the card data moved over. This typically takes a few weeks to be completed.

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.

Will I receive notifications about payments?

You can sign up for Notifications on the payment dashboard under More > Payment Dashboard > Settings. You have the option to opt in for a weekly summary email, and also subscribe to notifications for payment failures, disputes, and more. You can choose to CC and BCC other recipients if needed:

When do I receive my deposits?

All transactions will automatically batch out each day by 8pm Eastern and will deposit within 48 business hours (5 business days for ACH). Any transactions run after the cutoff time of 7:30pm Eastern will go into the following day's batch.

Below is a rough timeline of the deposit schedule.

Deposits can all be expected by 6pm EST.

Earliest the deposit report can show up is 1pm EST
Earliest funds can be deposited: 2pm EST
Latest funds should be deposited: 6pm EST

Note: Depending on the cut-off time of your bank, your deposit may appear in the morning of the following business day.

Note: It can take up to 5 hours for ALL of the data to display correctly in the reporting. If a merchant views their reports prior to all of their data ingesting, it could display incomplete information or NULL NULL in several fields until the ingestion is complete.

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.

Learn more about disputes here: PracticeQ Payments - Disputes

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).

Note: These are only sent if you've processed at least $20K in transactions during the previous year.

Note: If adjustments are needed to your 1099, please reach out to us for a new W9 form.

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. Note that we cannot accept a direct deposit form, or digital representation of a check. Send the document 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.

If providing a voided check:

MUST include the DBA name

If providing a bank letter:

MUST be on Official Bank letterhead.
MUST include the Bank Name and Branch Address.
MUST have Merchant Legal Name AND DBA Name.
MUST include the account number.
MUST include the routing number.
MUST include a signature and contact telephone number of an employee of the bank.
MUST include "this account is active and is in good standing with the bank".

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 totaled $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.

Processing Interval Limits

There is a security feature in place with PracticeQ Payments to help combat the possibility of duplicating a transaction in error. The same card can't be processed twice within a 5 minute window. However, for security reasons there is also a limit on how many times the same card can be used in a 12-hour period. The maximum repeat use limit is 6 times in 12 hours. Once that limit is reached, that card will fail until the 12 hour window has passed.

Can I export cards from PracticeQ Payments to another provider?

This is possible for a fee, though it's not something we can guarantee. If you're looking for this please reach out to our support team and we'll be happy to assist.