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HOME : Services: RBS WorldPay FAQs - Internet Merchant Account for SMBs

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RBS WorldPay FAQs

1) What's the Standard Fee associated with RBS WorldPay?

Set Up Fee : RM 688
Annual Fee (payable on application): RM 1088
Credit/charge cards - 3.95% of the value of each payment
WorldAlert Transaction Charge - USD 0.10
Standard Administration Fee Per Chargeback - USD 15.00
Remittance charge (Refer to the Customer Agreement) - USD 16.00 per remittance
Minimum remittance amount - USD 150.00

RBS WorldPay fee varies based on the where your company is registered. Click here to know the RBS WorldPay fees associated with your country

2) How do i apply to RBS WorldPay?

It's very simple, you can apply online right away using below link:
https://secure.worldpay.com/app/application.pl?brand=neowave

3) How long will it take for my funds to clear?

It typically takes 4 weeks for your funds to clear into your bank.

4) Which Credit and Debit Cards can I accept?

One of the requirements of the RBS WorldPay Website Rules is to display the correct credit and debit card logos on your site.

RBS WorldPay supply a JavaScript source file to do this for you. Including the JavaScript below in your web page automatically displays the correct credit and debit card logos for your RBS WorldPay installation.

To use this code on your website, just replace 'xxxx' with your RBS WorldPay Installation Id.

When using this JavaScript source file, the card logos are displayed in a layout similar to these card logos:

5) How much is the maximum amount per transaction?

There is a ceiling cap limit of GBP 10,000 set per transaction. In other words, you would not be able to process any transaction which is above the amount of GBP 10,000 as the system would automatically decline the transaction.

6) How much is the maximum settlement limit per month?

There is only a minimum settlement limit but NO maximum settlement limit set per merchant account. This means that for instance if your remittance currency is in USD, the Minimum Settlement Limit for USD remittance would be USD 150. RBS WorldPay will send the money to your bank account 4 weeks after the balance in your RBS WorldPay merchant account has reached the Minimum Settlement Limit of USD 150.

Please note that this Minimum Settlement Limit can be increased and not reduced. You can refer to the following link for more information on remittance:
http://support.worldpay.com/kb/reference/faqs/remittance_emails.html

7) How much is the minimum transaction limit per month?

There is no minimum transaction set on our merchant's account and there would not be any charges incurred even if your account is inactive and not trading for the month.

8) Do I need to have a local / foreign bank account for settlement purpose?

If your company is registered in Malaysia, RBS WorldPay can remit the funds into any bank account opened under the company name within the country where your business is incorporated in.

There would be a remittance charge of GBP 10 per transfer for GBP remittance or its equivalent in other major currencies remittance. You may need to check with your bank to see if your bank charges you any other bank charges for receiving foreign remittance.

9) Any others charges such as currency conversion?

RBS WorldPay offer the first 3 acquisition currencies of your choice (ie currencies which you would like your customers to pay you in) free of charge and any additional currencies added to your account will cost you GBP 50 per currency (choose from over 100).

There would be currency conversion if you are pricing your products/services in a different currency as your settlement currency Or if you are pricing your products/services in the same currency as your settlement currency but you allow your customers to have the option to pay in other currencies other than your settlement currency.

10) In what circumstances a transaction is considered as Charged Back or Disputed Transaction?

For more information on chargebacks, please refer to the following URL:
http://support.worldpay.com/merchant_faqs/english/chargebacks_faqs.html

If RBS WorldPay receive an RFI (Request Further Information) or notice of a dispute, they will email the merchants to request information about the purchase and ask for a response within 7 working days from the date you receive an email from the Chargebacks team.

At the same time, the transaction is flagged as RFI disputed on RBS WorldPay transaction page. RBS WorldPay then place the amount of the purchase into a reserve. The reserve is held to ensure funds are available in your account, should the purchase become chargedback. The reserved funds are still held in your RBS WorldPay account and included in your statement total.

When your settlement is calculated, the reserve total is deducted from the amount due to be settled to you. Each time a settlement is calculated, the reserve is cleared and a new reserve total is calculated to account for any changes in disputed items since your previous settlement.

The net amount deducted / or credited from your due settlement for the disputes reserve is calculated as follows:

The amount reserved on the previous settlement, "Old Disputes Reserve" is credited back to you. The "New Disputes Reserve" calculated, is deducted from your due amount.

Therefore,

Net Reserve deducted/credited = Old Disputes Reserve - New Disputes Reserve

11) How much is the cost for Charge Back / Disputed Transaction?

There is no charge for disputed transaction but there would be a chargeback administrative fee of GBP 10 or its equivalent in other major currencies per chargeback.

12) How long does it take for an investigation on Disputed transaction?

For all disputed purchases, the card issuing banks are given 60 days from the date the supporting documents are sent to them to review the documents. In other words, RBS WorldPay can only contact the bank and review the disputes after 60 days. Each manual review requires one of the chargeback team discussing the case with RBS WorldPay processing bank to find out whether the card issuer has responded and whether the RFI response from you may remedy a chargeback.

If RBS WorldPay decide to remove a dispute and release the reserved funds to you, it can not unfortunately guarantee that the purchase will not be chargedback in the future.

13) Who is responsible for fraud card transaction?

In the event if a chargeback unfortunately happens, the merchant would have to bear the cost.

14) What will cause the Internet merchant account to be blocked / held / freezed?

If the level of chargebacks or RFIs in your account is too high and no action is taken from your end to reduce the level of chargebacks/RFIs Or when RBS WorldPay request for additional financial information from you and there is no response from you, RBS WorldPay might need to resort to temporarily suspension of your remittance due to security reason or hold a Fixed Reserves in your account.

15) How much is the charges for additional services such as Fraud Detection, Internet Terminal (MOTO) or Repeat Billing?

Fraud Detection fee (also known as WorldAlert charge):
GBP 0.06 or its equivalent in other major currencies

Internet Terminal fee (also known as WorldAccess fee):
GBP 100 or its equivalent in other major currencies (one-time set up fee)

Repeat Billing fee (also known as FuturePay fee):
GBP 100 or its equivalent in other major currencies (one-time set up fee)

16) How much does it cost to subscribe to RBS WorldPay Guarantee?

RBS WorldPay Guarantee is only available to UK merchants.

For more information please refer to http://support.worldpay.com/products_services/guarantee/

Note: RBS WorldPay Internet Merchant Account and Online Payment Solution is a service by RBS WorldPay Limited / Inc / Pte Ltd. This third party services are governed by their own terms of use and other requirements. You agree to abide by these third party requirements when you access the third party services through the Service. Neowave is not responsible nor liable for the services and information provided to you through these third party services. For latest information on RBS Worldpay, please logon to www.rbsworldpay.com