eMerchantBroker.com specializes in merchant accounts for credit repair companies. We can approve your credit repair company for a merchant account today. We even deal with start up credit repair companies with no processing history.
We understand the needs of high risk, high volume merchants such as credit repair companies and debt collection companies. We will not waste your time, we can evaluate your business type and give you a pre-approval for credit card processing in as little as 4 hours.
Get a merchant account today from eMerchantBroker.com for your credit repair company.
>> Competitive Rates
>> No Application Fees
>> Domestic Account – 48 Hour Funding
>> Credit Repair Companies Approved
To get approved for a merchant account for your credit repair company click on the icon below:
Credit Repair Merchant Account Information:
What are the requirements for a merchant account for a credit repair company?
At eMerchantBroker.com setting up a merchant account for your credit repair company is quick and easy. However, there are more documents that you must supply to the bank in comparison to a traditional low risk merchant account.
Requirements:
- Clear Copy of Drivers License
- 3 Months of Bank Statements: Start-Ups may provide personal bank statements if 3 months of business statements are not available .
- 3 Months of Previous Merchant Account Statements: Only required if you have previous processing history.
- Copy of Customer Contracts or Agreements
- Copy of Voided Check or Bank Letter: A bank letter can be obtained at a local branch, it needs to state your account number, routing number and be signed by a bank employee.
Does eMerchantBroker.com Require a Reserve Account?
For a start up credit repair company, with no previous processing history, a reserve is usually required from the bank. A reserve account is an account set up by the bank to hold a percentage of your sales in “reserve” to pay for any possible chargebacks or disputes that may occur. The money is always yours, and will be returned to you when the reserve requirement is lifted. The reserve amount is usually between 10%-20% of your daily transactions.
How Long is the Reserve Held For?
Most of the providers in the eMerchantBroker.com network will review an account after 3-6 months for removal of a reserve requirement. There are a few providers in our network that will automatically release funds from the reserve account are released every 3 months.
To find out more about a merchant account for credit repair companies please call 1.800-621-4893