Why Some Providers Do Not Accept High Risk Merchants

Nearly everyone with their own business wants the ability to process their customer’s credit cards. While getting a merchant account so that a business could accept credit cards has been a major hassle and a huge cost in years past, today it’s possible to get a merchant account online.

A small number of businesses, however, are discovering that they are considered to be to high risk to get a merchant account. When this occurs, one of the first questions these businesses ask is what makes me so high risk?

The answer can be complicated, since risk isn’t tied to just one factor. When assessing whether or not a business qualifies for a merchant account, factors such as credit history and type of business are the biggest considerations. Credit history encompasses a lot more factors than just the business’ history of paying its bills on time. Because money is transferred to and from the business’ bank account on a daily basis, it is important that the business have a good history with its bank. An account that suddenly closes or is at risk for being overdrawn can wreck havoc with the automatic deposits that are made by the processor into the merchant’s bank account. Often, this can result in the funds being incorrectly transferred, causing problems for everyone involved. If a business looks like it will have problems with it’s bank, they will often be denied for a merchant account.

Next, the type of business, including its relative size, customer base, and even the product it sells is compared to similar businesses. If too many similar businesses have had issues or problems with keeping a merchant account, the new business is often denied as well. For example, businesses that have a lot of overseas clients tend to have higher amounts of fraud than businesses that operate primarily domestically. This means that a business with a lot of foreign clients will have a better chance of being denied for a merchant account. There are also some products that are banned from sale in various locations that can prevent the business that sells them from obtaining a merchant account.

If your business has been denied for a merchant account, you can call the company that denied you and ask why. Sometimes, there are things that can be changed or fixed to make a business qualify.

GET FREE QUOTE TODAY AND START SAVING


Testimonials

It took me a while to decide who I wanted to settle with to handle all of my credit card transactions because every company wants to make it sound like they're offering you the best rates. CreditCardProcessing.com was able compare and beat all of the other offers I received. They were also able to provide me the fairest price on my EMV-compliant terminal. My sales representative and the support team were there to assist every step of the way. Ultimately, I'm looking forward to a long term relationship with this company.

Roland Tran from the Hong Kong Kitchen

It is a pleasure dealing with these folks. Their pricing is fair, their statements are understandable and their employees are knowledgeable and friendly.

John MacMillian from the Great Lakes Baking Company

The service was very professional, my sales person (Steven B.) was very well versed in the product and most helpful in getting our company set up to accept credit cards via my cell phone. Their rates are some of the lowest on the market and their service is unparalleled. I will recommend them to anyone requiring a credit card processing service.

Michael Harper from Deluxe Auto Body

Jonathan C. is wonderful to work with. He is very helpful, accommodating and resolves any issue quickly. It is hard these days to find someone who gives great customer service, but I can say, Jonathan is the best! I would not hesitate to recommend him to any business owner and to assist you in helping to grow your business.

Linda Garner from Regali Da Forno

I called indecisive about getting a device, but speaking to your Sales Consultant completely settled me. He was very professional, knowledgeable and patiently walked me through the process. He always responded to my voicemails and answered all my questions. After I received my merchandise, he called following up to ensure that I had received it. Customer service I would say is 5 stars. Stellar! Thanks Credit Card Processing, I will definitely recommend you.

Sarah Morgan from Vision International Ministries
Call Us Today! (866) 837-0751

© 2016 CreditCardProcessing.com. All rights reserved. Privacy Policy
CREDITCARDPROCESSING.COM, LLC is a registered ISO of Wells Fargo Bank, N.A. Walnut Creek, CA

*Further terms and conditions may apply. Promotion contingent upon CreditCardProcessing.com's receipt of written competing offer(s).

**Certain restrictions may apply.

Promotional offers brought to you by CreditCardProcessing.com.

Call (866) 837-0751 for details.