PracticeQ Payments - FAQ

Here are most of the frequently asked questions about PracticeQ Payments. If you have any questions not answered below, please let us know!

Is PracticeQ Payments HIPAA/PCI compliant?

• Yes, PracticeQ Payments is fully HIPAA compliant. All credit card information is stored with the merchant, and only payment data is transferred when processing.
• PCI Compliance is required by the payment card industry. Please see our Compliance Guide for more information.

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 processing fees?

• Read PracticeQ Payments - Fee Breakdown.
• 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 at hello@intakeq.com 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, this is MCC (merchant chain code) dependent. If the MCC does not align with a business that should be accepting HSA/FSAs, the charge 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 allows 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 eight business days to settle with the banks. We deposit the funds after five business days, before the transaction settles, to get you the money more quickly. If the payment ends up not settling, we then deduct the funds from your bank. This is referred to as an ACH clawback. 
• Refunds: The option to refund ACH payments is held by our system for five 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 five days, so we recommend waiting at least 8-10 days before submitting a refund, to give additional time for a potential reversal. 
• Please note that 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 credit card is refunded 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 credit card 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. Our processor's sponsoring bank funds 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 network to process payments. If interested in the QD4, please fill out the form here and read about the setup here.
• We do not have a mobile card reader at this time, but we are currently researching options. 

Do you process international transactions?

• Yes, from most countries. Certain countries are banned by the US and we cannot process payments from those. View the 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 Square?

• You may contact us to request a transfer of Square card data to PracticeQ Payments, as long as you were already integrated with Square through your PracticeQ account. This will allow you to keep the card data you had stored so you will not have to ask your clients for it again. 
• We will send you the information about how to start the migration process and work with you to get the card data moved over. This typically takes a few weeks to complete.

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

• Yes, please email us at hello@intakeq.com and we will provide the direct sign up information.

Will I receive notifications about payments?

• You can sign up for Notifications in the payment dashboard under More → Payment Dashboard → Settings. 
• You may opt in for a weekly summary email, and also subscribe to notifications for payment failures, disputes, refunds, and more. 
• CC and BCC other recipients if necessary.

When do I receive my deposits?

• All transactions will automatically batch out each day by 8pm Eastern Time and will deposit within 48 business hours (five business days for ACH). 
• Any transactions processed after the cutoff time of 7:30pm Eastern will be included in the following day's batch. 
• Below is a rough timeline of the deposit schedule.
  
  • Deposits can all be expected by 6pm EST. 
  • The earliest the deposit report can show up is 1pm EST.
  • The earliest funds can be deposited is 2pm EST.
  • The latest funds should be deposited is 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 may 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 in your bank account. See Gross Funding Information below for more details on this.

How are payment disputes handled?

• View your disputes in More → Payment Dashboard → Disputes. There you can upload evidence to fight a dispute. 
• Please note that there is a $25 fee for each payment dispute received, regardless of the outcome.
• To read more about disputes, see PracticeQ Payments - Disputes.

Do you issue yearly 1099K forms?

• Yes we do. The 1099K forms typically come out at the end of January. 
• 1099K forms will be mailed to the merchant address on file, which is the address you provided when you submitted your application for PracticeQ Payments. 
• 1099Ks are only sent if you have processed at least $20K in transactions during the previous year.
• If adjustments are needed to your 1099K, please reach out to us at hello@intakeq.com 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 will 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 the merchant team will make the change.
• This should take anywhere from 1-3 days to complete, assuming the account information can be verified.
• For more information on requirements, read PracticeQ Payments - Change Bank Account.

Gross Funding Information

• As a PracticeQ Payments customer, you will automatically be enrolled to receive gross deposits. Gross funding is when the deposits in your bank account match your daily batch totals.
• 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 in 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 will 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 will never settle, so the refund will be counted as a void. If this is the case, the total deposit (assuming it was just that one transaction) will be $1900. 
  • However, if it is a true refund, where it is processed after the initial batch closed, the full $2,000 will be deposited from the original transaction, and the $100 refund will 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 cannot be processed twice within a five-minute window. 
• 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, the 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 is not something we can guarantee. If you are looking for this, please reach out to our support team at hello@intakeq.com and we will be happy to assist.

Didn't Find Your Question Here?

• We're happy to help! Email us at hello@intakeq.com.