Reasons for high risk merchant accounts
Merchant Accounts are considered under
high risk category. Signing a merchant
account means that you are now running a
flourishing business and owning it too.
There are many facilities of owning a
high risk merchant account. You can
easily access and process your credit
card for all purposes. This is very
helpful when you have a successful
online business but looking for an
online high risk merchant account is a
bit difficult. Not because you will not
find one, but because you need to be
associated with a genuine website. And
to search for a legitimate website is to
go through trial and error method or
rely on the rating of the search
engines.
You need not worry about these things
because you can look for one that has a
real experienced user’s review in it.
Usually the websites that display the
rates on their web pages are very low
and they have various hidden charges
most often. If you choose offshore
merchants to open an account you need
not worry even if your current supplier
has closed your merchant. Here in fact
they consider you as a separate case.
But if you approach the bank or the
processor, they are concerned about the
type of your business and the whole
process takes very long time to
commence.
You get a variety of services depending
upon the type of business you have
online. In this online business people
can operate from any computer and make
payments or operate by using a virtual
terminal. This virtual terminal allows
the merchant to log in and he can
manually process cards. There is
provision for the customers to buy
directly from the website of the
merchant. The network merchant provides
this virtual terminal and the
businessmen can have a complete
information on their account if they
want to get it. If you are associated
with offshore merchant, you will be
provided with a free shopping cart that
is included in your Internet account.
Even if you need a terminal set up of
physical swipe system, offshore
merchants will provide everything
including the machine for you. In
addition to all these facilities there
are some remarkable provisions that you
have here. The applications for high
risk merchant accounts get approved in 7
– 10 days, you will be provided with
complete assistance during the
underwriting process of merchant
application, you will be provided with a
risk management technology and you have
the customer service, which is at your
service always. Here large number of
merchant accounts is available for both
domestic and international usage. The
payments that are processed currently
varies from $1000 to $39 million per
month. Three huge banks of US have
allowed the merchants to process through
high risk merchant accounts associated
with offshore merchants.
Even if your transaction is very high
you don’t have to pay 9 – 10% for high
volume risk if you join hands with
offshore merchants, as you have to pay
even below 3% here. There are various
solutions for the high risk accounts. It
depends upon your business and the
transactions what you choose.
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. |