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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.

  • Some of the merchant accounts will get approved from the provider in less than a day.
  • When you are applying for an offshore merchant account, in most cases it will not be rejected.
  • Merchants whose credit rating is not good can also get a merchant account.
  • It is not required by the merchant to open a new account to transfer funds.
  • Providers of “High Risk Merchant Account” require their merchants to make credit card transactions ranging between ten thousand dollars to fifty million dollars.
  • 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.
  • Merchants are allowed to choose the international bank.
  • The merchants who are under the TMF list also have a chance to get their applications approved.
  • If you have applied for the “Offshore Merchant Account” then you will not have to pay for credit card software or terminal.
  • The merchants will also get the benefit of accepting international currencies.
  • 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.

Contact one of our helpful account representatives to assist you in the setup of a high risk merchant account or offshore merchant account for a high risk merchant.