What Is a SAQ?
SAQ stands for Self-Assessment Questionnaire. A mandatory questionnaire required by the Payment Card Industry Data Security Standard (PCI DSS) to be completed by every credit card merchant at least once a year, it’s necessary to ensure “PCI Compliance.”
If a credit card merchant does not complete and submit their SAQ on time, additional fees and fines are imposed until the SAQ is submitted. However, many merchants do not even realize they’re paying these additional fees.
How Does This Relate to Me?
Every merchant is different and has their own processing parameters—some merchants are purely retail, swiping every card and not writing down any information. Others may never see a card, taking information over the phone and manually keying their customers’ cards into a terminal or PC. In between, there’s e-Commerce with a combination of other merchant processing guidelines.
Ultimately, PCI DSS compliance is designed to protect card holders card information—merchants are responsible for ensuring every precaution is taken so that no cards are ever compromised.
Your client level is determined by what type of transactions you process, how many and your overall processing dollar volume. To help determine your level, refer to this document. The vast majority of clients fall into the lowest category and require the simplest SAQ.
How Long Will It Take? What If I Don’t Submit My SAQ?
If you’re in the lowest category, it should take about 30 minutes to complete a SAQ. It might take longer your first time but don’t worry if you need more help—all merchant processing companies should have a PCI help desk to assist you at any time.
If you don’t complete and submit the form, your processing will not be shut off, but your processor will happily more than triple your PCI compliance fees and debit your account every month.
This means, for most clients, that they have to pay the normal $9.99 per month plus an additional $35.00 for every month that the SAQ is not completed and submitted. If that doesn’t sound too bad, remember that if you have multiple store locations, every location is charged separately and it could get very expensive—some of our clients have 20 to 30 locations… you can do the math.
Don’t Be Intimidated
SAQs are not hard to do and you can always get help if you need it. Completing it will save you money and if we can be of any assistance in helping you navigate the maze of credit card processing, please don’t hesitate to contact us. We look forward to serving you.