One of the biggest problems that consumers have with bail bonds companies is that they are typically “Cash Only”. This limits their usage and convenience. This not only hurts consumers, but also bail bonds merchants. The logical idea would be for bail bonds merchants to get a merchant account, but the processing industry leads you to believe that it is often easier said than done. The “high risk” nature of the industry limits merchant account choices, but fewer choices can actually help merchants better understand the choices available. A bail bonds merchant account is something that all bail bonds merchants need – and obtaining one is easier than the traditional merchant account industry leaves you to believe.
One issue with the bail bonds industry is the lack of steadiness. It is hard to forecast when or if sales will rise or fall. Not everyone who is arrested needs a bail bonds company, so this unsteady financial outlook has placed bail bonds companies in the “high risk” merchant account category. The increased risk of chargebacks in the industry does not help matters. The most common cause for a bail bonds chargeback is a credit or debit dispute when someone has already been bailed out – but the bail bonds customer did not know.
These issues leave many bail bonds merchants thinking that they are limited in terms of finding a bail bonds merchant account. It is true that there are fewer reputable options, but this does not mean that merchants should give up on accepting plastic payment cards. One of the best choices is EMB, which is one of the few experts in the bail bonds merchant account area. With the volatility of this industry, you need a merchant account provider who knows it inside and out, and is prepared to deal with its issues. While we all wish for smooth business workings, this does not always happens, and the percentages are increased of something going wrong with a “high risk” business. The best thing that bail bonds merchants can do is to research and find the best merchant account provider for them, because not all are created the same.