It’s Easy! Let us help you get all your documents in a row.
Applying for a low or high risk merchant account may seem like a daunting process, but it doesn’t have to be – just take it step by step. If your business is in good working order, you’ll probably find that you already have all of the required documents before opening a merchant account, even if you need a high risk merchant account.
- Application. This is probably the most time consuming portion of the process. Much of the information you provide in the application will go toward finding the right type of merchant account.
- Business and marketing plan. It sounds complicated, but all you need to do is describe your business and how you plan on advertising to your target market. Since you are sleeping, eating and breathing your business, that should be easy enough – right?
- Personal documents. This includes a bank statement, a personal bank reference letter, ID/Passport, a personal utility bill, and a resume. The document in this list that sometimes gets people flustered is the bank reference letter. A simple phone call to your bank can take care of this. They’ve done this countless times before, and they’ll know exactly what you are looking for.
- Incorporation certificate and articles. Are you incorporated? Great – then this will be simple. But what if you’re a sole proprietor? No problem. If you have any documentation showing that you’re a sole proprietor, send it along.
- Credit card processing history (Optional). Have you ever processed credit cards before? Fantastic! That’s what we like to hear! We will need to see 3-6 months of statements from your current or past processor. No history? No worries – Instabill works with start up businesses and other high risk merchants every day! If you can’t provide processing history, this won’t be an issue for most businesses.
- Screenshot of your website’s administration page. Don’t know how to do this? No fear! We provide instructions!
Once we receive all your documents, most businesses can start processing credit cards with Instabill in 2-3 business days. As always, our friendly account managers are here to assist you with any questions. Call 1-800-318-2713 today!
