Merchants have asked the following questions. If you have questions not appearing below, do not hesitate to contact us by telephone or by Submitting an e-mail.

1. If I go out of business will I still have to pay?

You will have the following obligations:
• Contact Canmor advising that you are closing your business. You will be sent a Close Account form that you will sign and return to Canmor.
• You will have to ensure there is sufficient funds in your bank account to cover the fees for the current month.
• Return the equipment (complete with all wires and cables). The equipment must be in good working order.

2. Can I switch to another company?

Canmor’s rates and fees are very competitive; it will be difficult for you to find a better priced service providing a similar high quality of service. However, if you do choose to make a change, you can do so.  You are obligated to take the same steps as outlined in 1. above.

3. I need Visa and Mastercard, Do I need to Provide Financial Statements?

Most merchants do not need to provide financial statements. Visa and Mastercard are not automatically provided to merchants; you have to apply for both and be approved. You and your company will be assessed for risk and if the risk is acceptable you will be approved. In some cases, financial statements may be requested to assist in evaluating the level of risk. The level of risk is determined by many factors, they include:

1. Your credit rating
2. Your businesses past bill payment history
3. Type of business
4. Size of your transactions ($2,000 sale has a higher risk than a $10 sale)
5. Dollar Volume of your total sale. (Large volume has a great risk if the business fails)
6. Etc.

4. What if my terminal breaks or will not work?

In the majority of cases when terminals are unusable, a simple re-boot or diagnostic task returns the terminal to a workable state. In the event your terminal needs to be repaired, you will receive a replacement terminal.

6. I have loans with my bank; do I have to change my bank account?

You do not need to change any banking relationship; your funds will be deposited to the account of your choice.

7. When are fees taken from my bank account?

Monthly, typically within the first few days of the new month, this will depend on if the 1st falls on a weekend.

8. What businesses will you not accept or approve?

The following lists those industries that cannot be approved for merchant account. If you are unsure whether your business falls within our prohibited merchant list, please contact us.

1. Online pharmacies without VIPPS certification

2. Fortune telling, including tarot card readers and mystics.

3. Adult entertainment, escort services and sexual encounter firms.

4. Telemarketing firms.

5. For-profit adoption agencies.

6. Online/MOTO tobacco and nicotine product sales. (retail allowed)

7. Collection agencies, credit restoration agencies, bankruptcy lawyers and agencies specializing in the refinancing of debt.

8. Personal life coaching services.

9. Drug paraphernalia retailers.

10. Identity-theft protection services.

11. Investment services (merchants who buy, sell and broker securities and stocks).

12. Online/MOTO guns and firearms sales. (excluding accessories)

13. Multi-level marketing (MLM) and pyramid schemes.

14. Internet gambling.