If you’re looking for fast merchant account approvals, we’ve got one bit of advice: Be honest with us. We’ll work with you to get you approved, no matter what your history might be.
The good folks here at Instabill have been providing merchant accounts to e-commerce, POS and MOTO merchants since 2001, just about the beginning of the e-commerce boom. Being in the high risk space, we’ve just about seen it all. We even blogged about it recently.
We receive inquiries from merchants of all types, all industries and even those who have encountered problems:
- Merchants on the MATCH list.
- Merchants with flawed credit history.
- Merchants plagues by chargebacks.
- Merchants who apply for one merchant account yet are selling an unrelated product.
We have solutions for all of the above.
We understand when merchants try to protect their businesses and reputation. But the best practice and procedure high risk merchants can use to earn fast merchant account approvals?
Transparency.
When a Merchant is Less Than Transparent
Recently, we had a prospective merchant apply for a merchant account who failed to disclose he was on the MATCH list. Per our commitment to our banking partner, we confronted him about it and he was vague and evasive.
There are two outcomes when a prospective merchant fails to be transparent with us:
- Immediately, s/he is suspect: If a merchant isn’t being completely honest with us now, why should we believe he will be when he’s processing credit card transactions? It’s a bad start to a business relationship.
- Second, it gives Instabill and our acquiring banking partner reason to reject the merchant account application should either of us have any doubt.
MATCH-listed, Flawed Credit, High Chargebacks: We Can Still Get Merchant Account Approvals
No merchant wants to admit to having had a merchant account shut down; that they are/were on the MATCH list or couldn’t control their frequency of chargebacks. When applying for a merchant account approval, however, we strongly recommend merchants not hide these things – it will only work against you.
During the vetting process, our team of merchant account managers and underwriters do a thorough job of detailing a merchant’s processing history – we’re required to do so by our banking partners.
For fast merchant account approvals, transparency is the best option. We routinely earn approvals for merchants who have been MATCH-listed, who have imperfect credit or were shut down because of excessive chargebacks.
Talk to a live merchant account manager at 1-800-318-2713 about what we can do for you.
