Banks are Closing High Risk Merchant Accounts | EMB Can Help

Apr 23, 2015

While banks are notorious for not wanting to deal with high risk merchant accounts, some do deal with them, albeit with a much higher interest rate. However, within the past few months banks have went on a rampage, closing high risk merchant accounts, even if they are in good standing. This mass exodus brings pain not only to the merchants and their employees, but also to loyal customers. When banks close accounts in masses, it hurts the economy. Many of these businesses choose to go the “cash only” route, which is not always a good idea, especially when the business is based online. While these mass closing are tough, there is an alternative to the “cash only” route.

If your account has been closed out by a bank, you need to look into finding a high risk merchant account from a high risk merchant account provider. While you can simply Google the term, many companies will pop up that are not what you need. You need a company that is based and operated in the USA, as well as a company that has a great track record and recognition from industry leaders. You need to look no further than EMB.

EMB, or, is annually one of the top-rated high risk merchant account provides in the United States. Not only are we headquartered in the United States, but our staff members are also based in the United States. While others will threaten to drop your account after a fraudulent charge, we understand that it is simply part of the industry. We will work with you to see if the charge is indeed fraudulent, or just a regretted purchase. While others will jack-up your interest rates after a fraudulent charge, we will not. Other also charge high interest rates just for existing. With EMB, we charge industry-standard rates, which can help you save money. When you save money your customers save money.

Whether you are a new high risk merchant, or an existing merchant, if you are in need of a high risk merchant account, you need to look no further than EMB.

Let us help you get a high risk merchant account today!

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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