We understand the trepidation a prospective merchant might feel when we propose s/he pursue an offshore merchant account for their high risk business. Merchants, particularly those in the U.S., like to keep their dealings and affairs close to home, like having a local or regional banking partner supporting their business. Sometimes, however, having an offshore…
Category: Merchant Accounts
Really? An instant approval for a high risk merchant account?
A merchant or partner should take caution when s/he comes across a merchant account provider that offers an instant approval for a high risk merchant account. There simply is no such thing, unless a merchant account provider’s definition of the term ‘instant’ is somewhere between 3-5 business days or 3-5 weeks. In our experience, that…
Why (and When) We Suggest an Offshore High Risk Merchant Account
There are many times when, while on the phone with a prospective merchant, we might say to them, ‘It would be best for now if we arrange an offshore high risk merchant account.’ Usually, the explanation elicits confusion and hesitation, especially when it’s a startup merchant with whom we’re speaking: ‘Wait a minute. I want…
Why a Virtual Terminal Merchant is Considered High Risk
In the oft occasions our merchant account managers are explaining to a merchant why he/she is categorized as high risk, it usually will be a virtual terminal merchant with whom we’re speaking. It’s not the kind of thing they want to hear, but we can explain it more clearly with the following scenarios: How many times…
Hurricanes Also a Disaster for Travel Agency Businesses
It’s been a rough month for natural disasters in the northern hemisphere. Hurricane season, typically August through October in North and Central America, leaves travel agency businesses worldwide holding their collective breath. The destructive reach of a hurricane goes farther than most people can imagine. On a lesser-known but significant scale, hurricane victims can include…
Why There Will Always Be a Need for E-Cigarette Payment Processing
We think the results of a recent study will lend favorably to the e-cigarette industry and merchants who need e-cigarette payment processing. There’s been a conflict over the last 10 years regarding the long term effects of e-cigarette use. It’s generated many legitimate points and questions such as: Is vaping healthier than traditional smoking? Are…
Why Selling Nutraceutical Products Makes Banks Nervous
When Instabill representatives are approached about a nutraceutical merchant account, we don’t mince words. Selling nutraceutical products can be a slippery slope, which is why we’re straightforward with banking guidelines and protocol. Nutraceutical businesses can be very profitable. But, understandably, they make acquiring banks uneasy. One major issue we find with nutraceutical merchants Products that…
A Rolling Reserve: The Who and The Why
For the countless high risk merchants whom we call upon to offer offshore merchant accounts, sometimes the acquiring bank won’t move forward unless the merchant agrees to a rolling reserve. From there, the merchant’s reaction is predictable: ‘Wait, why can’t I recoup all the revenue I generate?’ is usually the next question. We then explain…
Instabill Offers New Online Wallet Account Solution
In its effort to find the best payment processing solutions for its network of merchants and partners, Instabill has partnered with a North American bank to offer an all-encompassing online wallet solution for merchants of all risk levels. For e-commerce merchants only, our new solution comes with many terrific benefits including fast access to funds,…
Why the FTC is Watching Debt Collection Agencies
When the Federal Trade Commission decided to pay more attention to the practices of collection agencies, it really meant it. A recent news item in Consumer Affairs is all the evidence needed. Apparently, a company called American Municipal Services Corporation, a debt collection agency in Texas that services more than 500 municipalities and collects utility…