Procuring an instant approval high-risk merchant account is essential for many small and mid-sized businesses. We aim to provide instant approval within 1 to 2 business days at the latest. There are a few tips that should be followed before applying for a high-risk merchant account.
- The social security number should be accurate. If the SSN number is not correct then the application will be placed on pending status.
- The home and business address should accurately match. The physical address should be listed on the risk merchant account application.
- The checking account number should match and be accurate. The MSP will utilize the checking account so it is essential that it is accurate. The deposit ticket number should never be used as a substitute for the checking account number.
- The average monthly limit should be a reasonable and precise amount. Most startup companies should have monthly values between $3,500 and $15,000 dollars. The average monthly limit should be accurate because it will be the monthly limit that will be approved for the applicant.
- The average sale should also be inputted accurately. The average sale should typically be under $200 dollars. The higher the average sale amount, the greater risk exists for the bank. Any high amount inputted will lead to pending application status.
- The monthly income and average ticket price should not match. A spread should exist between the monthly income and the average ticket price. A reasonable spread would be $10,000 dollars in monthly sales with $150 dollars per individual sale.
- Complete information should be listed. A complete name, phone number, and contact information should be listed accurately. No nicknames should be utilized.
- The product offered should also be very descriptive and the product and service should be clearly stated.
We work closely with many banks and processors to make sure that you are approved as soon as possible. Whether you have an auto warranty or medical marijuana business, we aim to provide the fastest approval in the industry.
Get approved for your High-Risk Merchant Account Today!