Debit and credit card processing from BB&T offers you a simple, secure way to expand your business payment offerings, without the risks associated with paper checks. Plus, if you have a BB&T business account, sales revenue is deposited into your account the next business day. By opening a merchant services account, you may even qualify for a free BB&T business account.
Here's how it works:
When you process a sale, debit or credit card information is automatically sent from your terminal, software or online gateway to the payment network.
The payment network instantly verifies with the card association (such as Visa) that the card information and amount are valid, and sends authorization for the transaction back to you.
Your authorized transactions are stored in a batch until you submit them to the network for payment (generally at the end of the day).
When the network receives the batch, it authorizes payment for the transaction, then debits the cardholder(your customer) and credits BB&T.
When BB&T receives credit for the batch, we deposit the funds into your account. If you have a BB&T business account, funds are deposited the next business day.