Did you decided to begin the New Year with a new merchant account for accepting credit and debit cards? Maybe your old rate was too high or customer service is non-existent. Perhaps you are a new on-line merchant with dreams of making it big in online sales. You went into your local bank and spoke with the people who always smiled when you deposited your money. They were not smiling when they told you that you were a high risk merchant and they could not help you. They said you needed to deal with a high risk specialist. Well, fine. But because you wasted so much time at your bank you need a high risk merchant account with instant approval.
It’s bad enough that they called you high risk. That was embarrassing. Were you high risk when you put your money in their bank? Being a high risk merchant is not a reflection of you as an individual. It is a moniker for the type of industry you chose. There certainly are times when a business owner could be considered high risk. If he had a bankruptcy or has bad credit he would definitely be high risk. But that would not preclude him from a high risk merchant account with instant approval.
More than likely you have chosen an industry that may have a lot of chargebacks. These are sales that get charged back to the merchant because the card holder denies he ever made the purchase – or that the item was misrepresented. For instance a merchant could be selling the next miracle diet pill. A customer orders it, takes it and doesn’t lose a pound. Generally customers do not give a lot of grief about sales under $10, but if the customer paid $20 or more, he will want a credit. And this credit comes from the card issuer because they will debit your account for the charge.
Another high risk scenario is card not present – which is Internet sales. Even though a merchant gets the CVV and expiration date, 60 days later he could be informed that the credit card was stolen or that it was an out in out fraudulent account.
Do not worry about your credit or your industry. First American Merchant Funding can get you a high risk merchant account with instant approval. You could apply today and be accepting credit and debit cards tomorrow – maybe even tonight!
To get a high risk merchant account with instant approval call or click on us below 1-888-785-6811 right now!