Why Merchant Account Companies Care About Your Criminal and Credit History

People’s credit history and criminal history, if any, are weighed when they apply for merchant accounts. These accounts permit a business to engage in credit card processing, debit card processing and to accept electronic checks. After the bank or merchant-account provider deducts transaction fees from the sale, it deposits the money in the merchant’s bank account.

Since the bank, Independent Service Organization (ISO) or Merchant Service Provider (MSP) that does the credit card processing is taking a chance that the merchant will handle credit and debit cards and electronic checks in a secure and responsible manner, the bank or service provider checks the credit and criminal history of the merchant. These service providers are also concerned about the number of chargebacks or reversals of credit card sales that businesses have. Businesses that process their financial transactions carelessly will have a high percentage of chargebacks.

Obviously, merchant accounts are important when doing business over the Internet and in brick-and-mortar stores. To get this account, people have to apply. A poor credit history may get a person turned down. Why? Credit history is important to the banks and companies that process credit card transactions because they doubt whether people who cannot handle their personal finances well enough to maintain good credit can effectively handle credit cards in business.

If the business has partners or more than one owner, banks and service providers will look into the credit history of everyone named on the application. Likewise, banks do criminal background searches. If the applicant has a criminal history, that may cause the application to be turned down. After all, it does not look good for a person who has been convicted of writing bad checks, identify theft, money laundering or some other crime, especially as related to money, to be engaged in credit card processing and taking people’s personal information.

However, if the applicant’s poor credit history and criminal history is in the past, the person may still qualify for a merchant account. If the lives of these applicants are now going in a positive direction and they are currently engaged in a legitimate business and their credit is decent, they may qualify for an account that lets them process credit cards. Applicants have to put their best foot forward. If there were strikes against them in the past on their credit report, they should clean them up before applying.



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.