It is a conflict of interest for UK acquiring banks to issue merchant accounts to the PPI claims businesses that are suing them. Instabill, however, has partnerships with banks throughout the world that offer PPI claims merchant accounts. With fast approvals, Instabill can have you set up and processing credit cards with a non-UK bank in as little as one week. For more than 10 years, Instabill has built a network of offshore acquiring banks that offer quality PPI claims merchant accounts.
Free Virtual Terminal
Not all PPI claims merchants rely solely on online credit card processing, which is why we support MOTO credit card processing as well. For qualifying merchants, Instabill will furnish your payment gateway with our free virtual terminal. Our payment gateway even enables you to create multiple virtual terminal users} so you can have more than one employee accepting credit cards for your business. Additional users will have limited payment gateway access for your security.
Applications Materials for PPI Claims Merchant Accounts
There is more to applying for a PPI claims merchant account than filling out an application. For quality assurance, we require all merchants to submit the following documents for the underwriting process.
- Merchant Account Application
- Résumé or CV
- Photo ID or Passport
- Personal Utility Bill
- Business/Marketing Plan
- Processing History (Last 3 months)
- Processing Bank
- Supplier’s Agreements
- Personal Bank Statements (Last 3 months)
- Personal Bank Reference Letter
- Business Bank Statement (Last 3 months)
- Incorporation/Sole Proprietor Documentation
- Articles/Memorandum of Association
- Screenshot of Website Administration Page
When your merchant account manager receives these documents, he or she will match you with the acquiring bank that best fits your business’s credit card processing needs. Once you read, sign and return the banking contract, you can be processing in 24-48 hours.
PPI Claims Merchant Account Fees
Instabill provides affordable PPI claims merchant accounts with competitive fees. Once your merchant account application is in the hands of our trusted banking partners, the acquiring bank will determine your merchant account fees based on the strength of your business and application package. In the meantime, call our office for a free phone consultation and to receive a free quote.
Payouts for PPI Claims Merchants
When processing credit cards with Instabill, PPI merchants will receive payouts either daily (three days in arrears) or weekly (one or two weeks in arrears). Once your acquiring bank approves your application and merchant account fees, it will also determine your payout schedule. Similar with your merchant account fees, the strength of your application package will determine your payout schedule.
One on One Customer Support for PPI Claims Merchants
Instabill customer support is always live and always one-on-one. Our merchant account managers are available Monday through Friday from 8:00 a.m. until 6:00 p.m. US eastern time. Merchants can contact us via the live chat option at the bottom of the page or by phoning 1-800-318-2317. Inquiries after business hours will be addressed the very next business day.