Nutraceutical merchants often have difficulty finding online credit card processing because of their business model. With high chargebacks and continuity billing, some banks consider nutraceutical merchants too high of a risk.
Instabill, however, has offshore banking partners that provide quality nutraceutical merchant accounts.
Affordable Nutraceutical Merchant Accounts with Fast Approvals
Instabill provides affordable, reliable nutraceutical merchant account solutions with fast approvals. Our merchant account managers offer expert advice and guidance throughout the relationship of your account and will help you prevent fraud, reduce chargebacks and increase profits.
For an instant quote on an Instabill nutraceutical merchant account, call us directly at 1-800-318-2713 or simply click the button to get started.
Nutraceutical merchant accounts with free trials
Instabill is currently offering nutraceutical merchant accounts with a free trial made possible by an offshore banking partner. Speak one-on-one with a merchant account manager at 1-800-318-2713.
How do I get a nutraceutical merchant account?
Instabill offers numerous merchant account solutions for nutra merchants in any category. Speak with a merchant account manager directly at 1-800-318-2713, or simply click the button above to get started.
Offshore Nutraceutical Merchant Accounts (with payment processing history):
- Instabill requires 3-6 months of payment processing statements displaying your company name as well as total sales, chargebacks, refunds and returns.
- 3 months of business banking statements
- Approvals: 5 business days to 2weeks
Offshore Startup Nutraceutical Merchant Accounts
- 3 months of business banking statements or a business bank letter
- If no business banking statements, w’ll also accept 3 months of personal banking statements
- Approvals: 5 business days to 2 weeks
Domestic Nutraceutical Merchant Accounts
- Valid owner’s identification
- Business bank letter or a voided check
- 3 months of business banking statements showing company name, chargebacks, refunds, returns and total sales
- Documents of incorporation
- Approvals: Up to 2 weeks
Virtual Check Solutions for Nutraceutical Merchants
- Application completed in full
- Valid owner identification
- Business bank letter or voided check
- Articles of association
- Approvals: 2-3 business days
Nutraceutical merchant accountapproval timetable
Nutraceutical merchant account approvals vary with each type of payment processing solution Instabill offers. Below is an estimate:
- Offshore nutraceutical merchant account with payment processing history: 5 business days to 2 weeks
- Offshore startup nutraceutical merchant accounts: 5 business days to 2 weeks
- Domestic nutraceutical merchant account: 10 days to 2 weeks
- Nutraceutical check solutions and recurring billing: 2-3 business days
Restricted nutraceutical list
Instabill supports business growth for legal and legitimate nutraceutical merchants. However, we cannot provide credit card processing services certain products. Some restricted nutraceuticals include:
- Raspberry Ketones
- African Mango
Chargeback prevention for nutraceutical merchants
There are three reasons why the nutraceutical industry draws a fair amount of chargebacks:
Free Trials: Free trials, whether it be 30, 60 or 90 days, are great to draw customers. Some consumers, however, just want the freebies and forget when the trial expires, yet the nutra merchant begins to bill the consumer’s credit card. As a result, the consumer phones his/her credit card issuer to dispute the charges and files a chargeback.
Recurring Billing: The consumer arranges to be billed monthly for delivery of products, becomes dissatisfied and forgets to stop the automatic monthly payments to his/her credit card.
Automatic Renewal: At the end of a subscription, the merchant automatically renews with the consumer’s credit card. The consumer forgets about the automatic renewal, discovers it when reading his next credit card statement and disputes the charges with his/her issuer.
Through Instabill’s regular blog posts on chargeback prevention, merchants can discover the tools and tactics to effectively handle them.
Nutraceutical merchant account fees
The fees Instabill charges are contingent on several factors: The merchant’s processing history, industry type (high or low risk) and/or projected sales volume, to name a few. Each merchant account is different, but typical fees include:
- Merchant Account Fee
- Transaction Fee
- Discount Rate
- Merchant Account Registration Fee
- Monthly Statement Fee
- Chargeback Fee
- Refund Fee