Wells Fargo & Company is an American international banking and financial services holding company and is one of the largest sponsoring banks in the nation.
There are merchants who turn to Wells Fargo as they want to get next-day funding and value-added services. Even though having all accounts in one place seems attractive, merchants often don’t take into account the fact that the costs will be higher.
Banks Aren’t the Only Option to Try
In fact, banks aren’t the only option when it comes to securing a merchant account. Banks are neither the most convenient, nor the best fit for your business, especially if your business is classified as high risk.
You can easily enjoy the same services your bank is offering you and even more with a reputable business loan provider and payment processor like firstamericanmerchant.com (FAM). First American Merchant is an award-winning business funding provider and processor that boasts an A+ rating with the BBB.
When trying to get a merchant account, customers are usually interested whether the credit card processor is part of Wells Fargo and if they’ll have to switch their banking information.
Be aware that you don’t have to switch any banking information. The credit card processing industry requires all processors to have a “sponsoring bank,” thanks to which the funds can be transferred through settlements services from the cardholder’s bank to the merchant’s bank. The processing company is responsible for all other services to process credit cards. Particularly, it is responsible for the transmission of the card numbers and security, customer service, billing and more.
If you’re interested in Wells Fargo merchant services, consider turning to First American Merchant. Wells Fargo is a major sponsoring bank that FAM works with to provide credit card processing services.
First American Merchant is the best option even for those merchants who have difficulty securing a merchant account because their business is labeled “high risk.” In addition, FAM offers exceptional business funding opportunities, including its popular Merchant Cash Advance to merchants of any type and size. First American Merchant offers multiple payment gateways such as FAM Gateway, Authorize.net, 1st Pay, eProcessing Network, and more. Once approved, you’ll have your funds in as little as 24 hours.
When applying for a merchant account, take the time to research all of your options before making a decision to turn to your bank. You’ll see there are better services and options elsewhere. Take into account what your bank offers, but don’t forget to hear what other processors say. Consider your alternatives and apply for a merchant account that will best suit your business wants and needs.