Top 5 Reasons Your Business Needs a High Risk Merchant Account

Top 5 Reasons Your Business Needs a High Risk Merchant Account

Let’s end your merchant account frustration.

Feeling frustrated with merchant account providers telling you that your business is “high risk”? There are several reasons banks might consider you a high risk merchant–and none of them need to stop you from getting a merchant account.

You know you need a high risk merchant account when:

  1. The cardholder is not present during the purchase. If you run an e-commerce business, the simple fact that your customers can’t sign for their purchases make you more vulnerable to chargebacks–and this means more risk.
  2. You are a start-up merchant with no processing history. If you don’t have a track record to show the bank that you are a reliable merchant with proven processing history, it can be difficult to get approved for a merchant account.
  3. Your business is in a high risk industry. Online gambling, online pharmacies, and adult entertainment, are a few industries that may require a high risk merchant account.
  4. You have a history of excessive chargebacks. Most U.S. domestic banks only want to work with merchants who have chargebacks under 1%.
  5. You have no credit or poor credit. Many merchant banks look not only at your business’ history but at your personal credit score.

High risk merchant account solutions

Instabill works with a network of offshore merchant banks that process for high risk businesses. Our banking partners allow chargeback rates of up to 2%–and they base their approvals on the strength of your business, not on your personal credit score.

To learn more about high risk merchant accounts, just give us a call at 1-800-318-2713 or send us a message.

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