How Do I Get A Higher Credit Card Processing Volume Limit?

Nov 09, 2017

Businesses that produce high volumes of electronic transactions per month may find it difficult to get a perfect merchant account that meets all their business’ needs. This is because successful approval of all merchant account applications depends on predetermined processing limits which establish the monthly processing volume cap. Processing limits are often defined by;

  • Your processing volume per month
  • High ticket/ sale amount

As a business owner, you should estimate the above attributes when setting up a merchant account to give room for growth. But if you exceed the pre-set limits, your processor can lawfully retain the excess finances until the overage is looked into and your processor is at ease. So if your monthly volume and sale amounts have gone above the pre-established limits, you can always request for an increase in your processing limits.

However, an increase in your processing limits is subjective; therefore you must understand the following factors before making a request.

  • Business Banking Balance- the month-to-month balance in your business account
  • Your Business’ Credit Score
  • Your Business’ Processing History
  • Recurring Billing- if your business allows recurring billing then you must be subjected to high chargebacks.
  • Your Industry and Transaction Method
  • Reason for Increase

How to get a higher processing volume limit?

If your business is new, your merchant account will come with a set monthly volume cap (maybe $80,000, depending on your provider). But as soon as your business begins growing, you will need to raise it to say $150,000 or 200,000. This is a major problem because your business is as good as dead for the better part of the month if you can’t accept more card payments. So, here’s one way to go about it:

If you’ve been processing payments for 3 to 6 months and haven’t asked for a limit increase, then you can easily ask your service provider. And after a thorough review of the above listed factors, the service provider will increase your monthly high risk credit card processing volume cap.

Conclusion

All fast growing business will definitely need to raise their monthly processing volumes as soon as they begin anticipating more sales. And this is only possible if the merchant account provider agrees; of course after viewing you processing history.

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 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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