Sep 27, 2019

FDIC Recants “High-Risk” Merchant List Featuring Coin Dealers

Operation Choke Point proved to be a potentially menacing attack on legally operating “high risk” businesses. These businesses were targeted by powerful bank regulatory agencies whose sole purpose was to permanently sever relationships between merchants and their banks and potentially shut down their businesses. Choke Point was a multi-agency operation in which several government entities launched a campaign of threats...

Jun 26, 2019

“Operation Choke Point” Lawsuit Against Federal Bank Regulators Dismissed

The multi-year lawsuit alleging regulatory pressure to close payday lender bank accounts has been dismissed, according to the Office of the Comptroller of the Currency. Advance America et al. decided to dismiss the OCC from its lawsuit, alleging that federal banking regulators pressured banks to terminate payday lender bank accounts. This action puts an end to the 2014 lawsuit that...

Jul 26, 2018

U.S. Elections May Hurt High-Risk Merchant Account Approvals

Mass shootings at schools and most recently, the one in June that left five people dead at a Maryland newsroom, has more people advocating for stricter gun laws. With the midterm elections looming on Nov. 6, high-risk merchant account providers and financial lenders need to pay attention. To flip control of the U.S. House, Democrats need to flip 24 GOP-held...

Sep 19, 2017

High Risk Industries Back To Life—Current Administration Terminates Operation Choke Point

President Trump’s administration surely deserves a round of applause for terminating the contentious Operation Choke Point, a repressive program that tortured many legitimate businesses. The Federal Deposit Insurance Corporation launched this discriminatory operation when they categorized certain industries as “high-risk” due to the type of activities. This declaration sent a red light to all the banks it controls to shun...

Aug 03, 2017

Gun Sales To Make a Full Recovery After Last Falls Election

Releasing The Gun Industry From Operation Choke Point  The gun industry was riddled with uncertainties during the Obama administration, primarily due to an anti-firearm government and relentless gun control activism. As a result, financial institutions regarded gun trading as an extremely high-risk sector, whose participants had little chance of success. Banks either refused to offer merchants financial services or charged...

Apr 27, 2016

Operation Choke Point Vs. Payday Lenders

The Federal Deposit Insurance Corporation (FDIC) has noted that payday lenders, gun stores, and more than 24 other industries are “not wanted.” Operation Choke Point Operation Choke Point, a Department of Justice (DOJ) program or initiative, started in 2013. The goal of this initiative is to remove fraudulent businesses from the industry by stopping their access to the banking system....

Jun 09, 2014

How Operation Choke Hold Can Effects Every High Risk Business and Bank

Operation Choke Hold, the federal program that was originally set up to help eliminate fraudulent business activity is having a bigger effect on all business, but especially business labeled “high risk”. These businesses are getting the worst of this program; in fact, many have had their banking and processing accounts shut down, even if they are operating a legitimate business....

Apr 04, 2014

A New Law Enforcement Tactic could Mistakenly Wrap up Good Merchants with the Bad

A historical shift in how some federal financial law-enforcement agencies view the payments industry is under way, and unfortunately, it is not one that bodes well for the industry. Named Operation Choke Point, the effort is designed to hold banks and payment processors responsible for any illegal acts by a merchant or independent sales organization. While this seems like a...

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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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