Merchant Account For Your High Risk Bail Bond Business

Aug 12, 2014
credit_cardDepending on your line of business you own, will depend if applying for a merchant account is easy. Some business is considered as high risk and this means that many merchant companies won’t offer their services.

However, there are some merchant accounts that deal specifically with high-risk businesses and will accept applications and even offer a bail bond merchant account, which is a high-risk business. The higher the risk of the business, this can sometimes mean the higher the fees that are charged.

It is important that you look into more than the first high-risk company that you find. There are alternatives and getting the best deal for your business is important.

Understanding the terms and conditions of a merchant account is important, check out some of these areas to compare the best prices on offer.

  • Monthly fees, some companies charge a set monthly fee, others base the fee on the sales made during the course of the month; working out the best costs for your needs is important.
  • Cancellation fees, if you close your merchant account beware of any fees that you might need to agree upon, before signing the contract.
  • Compare the interest rates between different companies ensuring you have the best deal for your business.
  • Ensure that the secure payment gateway is in the price you pay for your service accounts.

Offering business services to people who have found themselves on the wrong side of the law is important. It allows people to move forward with their lives until they need to appear before a court of law; the risk to the business is if that person disappears and doesn’t attend the court hearing, the money they have loaned on the bail bond is lost. Making the potential very high for risking money invested, however, this isn’t the only risk to the business. There is a high percentage of fraud in this line of work and the merchant accounts need to take this into consideration.

Therefore, even if you are looking to start a high risk business there are options open to you, to allow applying for merchant accounts.

Contact us today to set up your high risk bail bonds merchant account in as little as 48 hours!

start

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

Get Started

Award winning.

  • 2012
  • 2013
  • 2014
  • 2015
  • 2016

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.

Live Chat