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BancBox Process

The typical process for moving forward with BancBox goes like this:

  1. A company discovers us or is called and is interested in the solution
  2. The company understands the pricing and is comfortable that it matches with their business model
  3. The company works with us to understand and agree to how funds will flow through the combined system
  4. The company will spend time with the APIs to determine any technical hang-ups that might make working with us impossible or too difficult (this does not mean that every one of our clients implements the solution prior to moving forward, but some do)
  5. The company approves Terms and Conditions, pricing, the funds flow and a description and completes the online application
  6. BancBox runs some background checks on the principals and confirms the model
  7. BancBox creates an underwriting package for delivery to our bank partner who determines whether or not to move forward
  8. On bank approval the company is provided with production keys to go live.

Companies whose principals have clean backgrounds and a good business model that raises no or little risk issues for the bank are approved within 5 business days.  However, neither BancBox nor our bank will go through steps 6 and 7 until a company has completed steps 3, 4 and 5 and is ready to sign a contract.  For this reason we have created our comprehensive, free-to-use sandbox for testing and integration purposes.

If you're done with the sandbox environment, fill out the application by pushing the "go live" button or send an e-mail to


BancBox Inquiries

Since launching our BancBox platform in June, we have identified a series of questions we find helpful in serving our inquiries and potential customers. In an effort to better serve our potential customers, we have compiled a series of questions we typically find help us better serve incoming inquiries. Some of these include:

1. What is the background of the principals of the business? 

2. Is your website currently live and if so, how many transactions are you completing each month?

3. How is your business funded?

4. Please review the business models below and identify the one that most closely matches your intended business model and needs.

Marketplace: You're creating a marketplace and are looking to collect funds via a credit/debit card and/or ACH from people who want to buy products and/or services from sellers on your site.  You want to take the buyer's money, passing it to the seller after the appropriate party approves that the transaction has been completed satisfactorily.  You'll take a percentage of the transaction as your fee.  You're looking to pay your seller via ACH, BillPay, PayPal or a paper check.


Wallet: You are looking to create a peer2peer transfer business whereby your customers deposit money via credit/debit card and/or ACH.  You'll take a percentage of each transaction between two or more parties.  You'll allow customers to request funds to be paid to them via: ACH, BillPay, PayPal, Debit Card or a paper check.


Crowdfunding: You are looking to enable crowd-funding and require an independent organization to collect the funds via an ACH or wire transfer, place them into an escrow account, manage the escrow and then pay out or return the funds to the issuer of the security or the investors via ACH, wire transfer or a paper check, depending on the result of the escrow.  You'll take a percentage of the capital raised as payment.


Giftcard: You are looking to create a virtual giftcard company and must collect money via a credit/debit card and or ACH from people who want to buy the giftcard.  You're looking to provide the giftcard funds to the recipient via ACH, BillPay, PayPal or a paper check.  You will  charge a fee for facilitating this transaction.


GroupBuy: You are looking to combine peer2peer transfers with a marketplace to create a group purchasing solution.


Other (please explain) 


If you are interested in the BancBox platform, feel free to copy and paste these questions with your answers and send it on to, and we will be in touch with you as soon as possible. 


Merchant Account

"A merchant account is a type of bank account that allows businesses to accept payments by debit or credit cards. A merchant account is established under an agreement between an acceptor and a merchant acquiring bank for the settlement of payment card transactions. In some cases a payment processor, independent sales organization (ISO), or merchant service provider (MSP) is also a party to the merchant agreement." 

BancBox currently operates under a "bring your own" merchant account model. BancBox allows the flexibility for companies to use a solution they have already integrated and prefer, or work with a BancBox partner to acquire a merchant account. The BancBox platform can then collect funds from the merchant account, store these in an FDIC insured account(s), and send these funds all using our APIs. BancBox is built to handle the most complex funds flows and working with a merchant account is no different. 

Visit for more information.  


Wells Fargo Presents Panel

BancBox is excited to announce CEO Sanj Goyle's participation tomorrow in the Wells Fargo How to get "Business Ready" for Payment Acceptance Panel in San Francisco. This "how to" workshop is targeted for early to mid stage growth companies innovating in and around the payment stream and will focus on the payment acquisition process. Topic areas will include Risk Management, Reconciliation & Customer Service. Other panelists include members of StubHub, GroupOn, and Wells Fargo. 

BancBox is always looking to not only present its solutions to the payments space, but also continue to be involved in the community as a thought leader. To RSVP call Miriam Quintero at 650-855-7803 or email 


BancBox Pricing

BancBox is happy to announce our new and improved pricing structure and pricing page. We are now offering a simplified pricing structure of 0.5%+$0.30 on all inbound transactions (over base rate interchange for credit cards) and FREE outbound transactions over $25 (outbound transactions under $25 are only $0.25).  No set up fees. No monthly minimums. No maintenance fees. Just pay us when you get paid. 

 E-mail us for more information on our pricing and services. 

Stay tuned for exciting new developments.
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