Frequently Asked Questions

 

What does it cost a small business to use Get Paid with Autobooks? 

Most payment providers have a matrix of fees they charge businesses that can be confusing.  Autobooks pricing is simple:

  • 2.75% for all card-based transaction, regardless of type or brand, and we do not add a per transaction fee.

  • $9.99 flat monthly fee, waived through 2020

There are no contracts or minimums, and the small business can cancel at any time. 

 

How does a small business enroll?

Enrollment is completely online and takes only minutes to complete.  During enrollment small businesses will create their Autobooks profile, link their deposit account, and be approved to receive card payments. 

Enrollment Steps:

  1. Create an Autobooks account and password.
  2. Link financial institution via existing online banking credentials.
  3. Complete merchant onboarding forms.
  4. Select an account from the linked financial institution to be used for incoming deposits.
  5. Select how to request first payment, via invoice or online payment form.
  6. Receive first customer payment.

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How does Autobooks ensure the incoming payments are deposited into your financial institution?

When a small business enrolls we use an account aggregation service to validate their online banking profile, and identify any eligible checking accounts associated with the profile.  The small business can only select one account from their profile to receive incoming funds and they cannot link another account.  If the small business uses an account from your financial institution to enroll, this ensures all customer payments they receive will deposited with you.   

 

How can Autobooks enable businesses to receive payments within minutes? 

Autobooks is a payment facilitator, a technology first approach to streamlining the enrollment of a merchant to accept payments.  As a payment facilitator, Autobooks can underwrite a merchant in a matter of seconds through the automation of data collection and data screening.  When exceptions are flagged by the automated system, they get submitted to an operations team for further examination.   

The automated underwriting process includes:

  • Know Your Customer (KYC) and Know Your Business (KYB) requirements to verify business registration credentials, location, identity of beneficial owner(s) and each person who has authority to act on behalf of the business.

  • Beneficial Owner(s) background check to verify person(s) legal identity, financial information, education status and criminal record.

  • Third Party verification against relevant Customer Identification Program (CIP) sanction lists including but not limited to OFAC, The SDN List, and MATCH.

 

Who holds the risk for the transactions?

As the payment facilitator, Autobooks holds the risk for the transactions.  We take on the responsibility of ensuring payments are legitimate and adhere to card network and government regulations.  Our platform monitors transactions for suspicious activity and anomalies to flag for risk management

In the event of a chargeback, Autobooks will work with the small business and acquirer to manage the dispute.  This includes all necessary documentation requests that might arise from an investigation into whether the transaction was legitimate, and it’s liable for the amount of the transaction if for some reason it is unable to recover it from the merchant.

 

Customer service

The Autobooks team is here to help. We help guide customers through enrollment, teach them how to use the product, and answer any additional questions they may have.   

Customers can connect with our team by:

  • Scheduling a one-on-one session using our online booking tool
  • Emailing our team at Support@autobooks.co
  • Calling our team at (844) 900-0766. Our call support hours are 9am - 6pm ET.