If you are doing business online, all your transactions will come through your instant high-risk merchant account. The merchant provides efficient processing of payments. Electronic payments are sent through your terminal to the merchant bank. They will check for available funds and provide a variety of security checks.
- They will charge you .5% o 5% of the transaction amount.
- There will also be a $.20 to $.30 per transaction.
- Most merchants also require a monthly fee.
What is an Instant High-Risk Merchant Account?
Many businesses are considered high-risk and will require a high-risk merchant account
There are a variety of factors that can cause your business to be at high risk. Moreover, online businesses, shops that have a high risk of chargeback, large average credit card transactions, and bad credit history could cause you to require a merchant account.
Examples of industries that are considered high risk include:
The travel industry, airlines, airplane charters, tour operators Hotels, restaurants, moving companies Antiques, auctions, electronics, pawnshops, Casino, gambling, adult-related, drug paraphernalia, vape companies, fantasy sports websites Bankruptcy law, debt collection, financial planning, Social media services, SEO services, VoIP services Multi-level marketing, horoscope services.
- There are many more high risks industries as well.
- Not sure if your business is in a high-risk industry?
- 5 Star Processing can help.
- Their team has years of experience helping companies get a merchant account that meets your needs and budget.
When do I Seek out an Instant High-Risk Merchant Account?
- Firstly, If you are in a high-risk industry, you’ll need to seek out a high-risk merchant account.
- Traditional merchant accounts will deny service to almost every high-risk industry.
- If your average monthly sales volume is over $20,000 and your average credit card transaction is over $500, you’ll need a high-risk merchant account.
- If you accept multiple currencies, you will normally require a merchant account.
- Do you offer subscription services, digital products, software downloads, or seasonal items? Your company will need a high-risk Merchant Account Instant Approval UK.
Chargebacks and Poor Credit Problems
If your company has an excess of chargebacks or poor credit problems, you may need to seek out a merchant account.
- Chargebacks can cause a variety of problems for online companies.
- If you sell products online, you run a greater risk of accumulating chargebacks.
- Stolen cards and credit card fraud is a huge problems.
- Certain industries are prone to chargebacks and will require an instant high merchant account.
- Does your business have credit problems?
- If you’ve had problems acquiring a merchant account due to credit problems, it might be time to seek out a high-risk Payment Gateway.
- A merchant account is your only option if your business has poor or bad credit.
Always feel free to contact 5 Star Processing for any kind of such service or information.