Merchant Account Blog & Credit Card Processing Blog

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High risk merchant accounts are an alternative you merchants who have been declined for credit card processing or that have been closed by their previous merchant account provider. High risk business owners may include certain business types, such as the travel industry which is noted for a high ratio of chargebacks, when compared to other business types. Another factor could be the past processing history of a particular business, which may include chargeback issues or questionable practices. Last a business owners lack of credit could also cause them issues.

We are currently sending all merchant account declines to www.risk-iso.com to apply for a High Risk Merchant Account. There experience and knowledge in the high risk merchant account arrena is vast and their ability to get merchants approved is impressive. They have several bank relationships both domestic and offshore, with several options for merchants to choose from.

If you are experiencing problems & looking for high risk merchant accounts, please feel free to call me with your questions. We are here to help and can usually put you on the right track.

MARK SANDS
1st National Processing
http://www.usa-merchantaccount.com
1-866 828-8683

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Intabill Closes It’s Doors - High Risk Merchant’s In A Panic

High risk merchant account provider, Intabill seems to have closed it’s doors.We received several phone calls today from merchants processing with Intabill who were in a complete panic. Merchants are concerned with Rolling Reserve Accounts, on hold by Intabill and not clear as to their futures.

Upon hearing the news, I immediately went to the Intabill Website, only to find the website shut down. We were aware of pending law suits against the company but were shocked to hear the news of the Intabill Implosion.

After the dust settled, we learned that existing merchants were thrown a life-line by a company called Payovation, who purchased the assets of Intabill. In a press release the new company stated, “A Payovation representative will be in touch with you in the coming days to answer any questions”.  Seems the company will attempt to keep Intabill customers, by offering a similar service.

If you have any questions on obtaining a High Risk Merchant Account, please give me a call to discuss more stable solutions, both onshore  and offshore.

MARK SANDS
1st National Processing
http://www.usa-merchantaccount.com
1-866 828-8683

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Understanding The High Risk Merchant Account

Certain types of businesses are deemed “High Risk” by the card associations. These business types are for one reason or another, deemed undesirable and are very hard to get approved, if not impossible is some cases. The major reason’s are usually the particular industry has a High Track Record of Chargebacks or the Legality or Morality of That Industry, may be in question.

In any case, a high risk merchant account should be explored, if you’ve been Turned Down as a high risk merchant. Many times, just becuase one credit card processor has told you that you are “High Risk”, doesn’t mean that another credit card processor would not Assume That Risk. Another source may be an off-shore solution or third-party solution. 

Merchant should consult someone who specializes in these types of accounts, before taking a “Shot Gun” approach and applying with several credit card processors. These failed attempts can be seen by the next company and are have a “Negative Impact” on getting you approved.

We May Be Able To Place: 

• Adult Sites & Products
• Auto Rental
• Bail Bonds
• Buying Clubs
• Casinos/Gaming/Sportsbook/Lotteries
• Cellular Contracts
• Check Cashing Services
• Coin Shops
• Collection Agencies
• Computer Sales “Online”
• Contractors “High Ticket”
• Detective Agencies
• Door-To-Door Sales
• Downloads Of Software
• Escort Services & Massage Parlor
• Fireworks
• Gun Shops
• Hair Restoration
• High Ticket / High Volume
• Horoscope / Fortune Tellers
• Infomercials
• Insurance Products
• Investment Opportunities
• Jewelry “High Ticket”
• Kiosk / Flea Market
• Mortgage Services
• Multi-Level Marketing MLM
• Outbound Telemarketing
• Online Pharmacy
• Pawn Shops
• Seminars
• Ticket Sales
• Time Share Sales
• Travel Industry
• Used Cars
• Water Purifiers
• Weight Loss Products

We look at each business type on a case by case basis, taking into account many different variables. Once we have found an outsourced solution, we will gather all your paperwork for underwriting and submit it for approval.

Some Potenial Requirements For Approval:

• High Risk App Fee $295 - $795  ( After Approval )
• Rates From 2.35% - 5.99%
• Possible Rolling Reserve Account
• Financial Statements May Be Required
• Supporting Statements From Principals
• Business License & Articles of Incorporation
• Marketing Material…ie Price List, Brochure, Website, Script, ect
• Site Inspection May Be Required

Feel free to call me if you need help in getting a high risk merchant account placed.

MARK SANDS
1st National Processing
http://www.usa-merchantaccount.com
1-866 828-8683

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HIGH RISK MERCHANT ACCOUNT - Online Pharmaceutical

We now offer a solution for Online Pharmaceutical Sales to accept credit cards. As you probally know, these fall under the catagory of a high risk merchant account. Merchant selling Online Pharmaceuticals have historically fund it almost impossible to find credit card processing for these ecommerce sales.

Please feel free to give me a call to discuss your needs.

MARK SANDS
1st National Processing
http://www.usa-merchantaccount.com
1-866 828-8683

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HIGH RISK MERCHANT ACCOUNT

We now have a solution for online tobacco sales, such as ecommerce cigar sales. As you know online tobacco sales requires a High Risk Merchant Account. Several issues including state tobacco taxes and sale of tobacco to minors are the main reason for the high risk classification. Many merchants have spent alot of money to design a tobacco website, only to find out that they cannot get credit card processing for their ecommerce website.

We are adding high risk payment solutions to assist merchants who have been declined elsewhere. Our solutions will very based on the business types and amount of business history. Certain solutions may require more paperwork, set-up fees, higher rates, and rolling reserve accounts, but keep in mind that we can get you approved to accept credit cards with a high risk merchant account.

In summary, if you have been declined by other processors, we are confident that we can get you approved. Give me a call to discuss your credit card processing needs.

MARK SANDS
1st National Processing
http://www.usa-merchantaccount.com
1-866 828-8683

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High risk merchant accounts are for business types deemed high risk when compared to the average business type. The risk of chargebacks is usually higher in these business types and they are deemed “Undesirable” by most merchant account providers. The risk for the merchant account provider is that many chargebacks could come through the account and the merchant may not have the funds available to cover each chargeback. In this situation, the merchant account provider may be left holding the bag.

The amount of acceptable risk will very for each processor. Some may accept more risk than others. Typically you may be accessed a higher rate and/or you may have to have a “Reserve Account” set-up to insure that you can cover all potential chargebacks that may be assessed against your account. Further keep in mind the “Excessive Chargeback Rule” set forth by Visa & Mastercard. Under this rule, if your chargebacks exceed 1% of your monthly volume, your account must be closed.

Here is a small list of business types which may be considered “High Risk”:

Adult Products
Bail Bondsen
Coin Shops
Computer Sales
Door-To-Door Sales
Gun Sales
Insurance Products
Kiosks
Multi-Level Marketing
Pawn Shops
Pharmaceuticals
Seminars
Time-Share
Travel Sales
Used Car Sales
Water Purifiers

This is a partial list of merchant types that may find it hard to get approved for a merchant account. 

If you are having trouble getting a merchant account, please call me to discuss your options.

MARK SANDS
http://www.usa-merchantaccount.com
 

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