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TRICKS TO SUCCESSFULLY OBTAIN A “HIGH
RISK MERCHANT ACCOUNT” OR AN “OFFSHORE
MERCHANT ACCOUNT”
Several Merchants complain that they do
not find enough information related to
the “High Risk Merchant Accounts”. They
do not even find information on how to
go about filling an application for such
an account. The truth is that there is
lot of information available but the
account providers don’t have good
customer service or they are simply very
lazy to help the customers to fill the
application form in the right way.
A good example for this is: a merchant
gets to know some of the catchy terms
and rules only after he has submitted
his application to the provider of the
merchant account. Some of such rules are
the merchant not receiving his payment
for some months or his application will
be approved only after the merchant has
changed the marketing plan. In such a
case, the application submitted by the
merchant will not be approved. And more
so, if the provider does not have the
“money back guarantee” offer, then the
merchant will loose money before he
begins to earn it.
Another dark side of a “High Risk
Merchant Account” application is that
the account provider may take very long
for your account approval. The only
reason for this is that they will need
to measure your business or trade with
the probable rate of chargeback’s or
frauds that may occur.
Tricks to get the high risk merchant
account
It is never a dead end unless you think
like that. Below is a list that will
help you to increase your chances of
obtaining an offshore or high risk
merchant account.
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Some of the merchant accounts will
get approved from the provider in
less than a day.
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When you are applying for an
offshore merchant account, in most
cases it will not be rejected.
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Merchants whose credit rating is not
good can also get a merchant
account.
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It is not required by the merchant
to open a new account to transfer
funds.
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Providers of “High Risk Merchant
Account” require their merchants to
make credit card transactions
ranging between ten thousand dollars
to fifty million dollars.
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Pricing quotes will be given by the
providers only after analyzing the
business status of the merchant
based on business profile, lifespan,
processing volume, solvency and
history, among others.
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Merchants are allowed to choose the
international bank.
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The merchants who are under the TMF
list also have a chance to get their
applications approved.
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If you have applied for the
“Offshore Merchant Account” then you
will not have to pay for credit card
software or terminal.
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The merchants will also get the
benefit of accepting international
currencies.
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Merchants will be able to accept
credit card payments when their
application is approved.
With the offshore account you will get a
whole lot of benefits, starting with tax
breaks. However, the biggest drawback is
that you have to pay a higher processing
fee and high reserve fund. |
