Everything you need to know about a high-risk Merchant Account

Page 1

Everything you need to know about Highrisk Merchant Account


What is Highrisk Merchant Account?

A high-risk merchant account is an account that is opened for the business considered high-risk to the bank. High-risk businesses are prone to chargeback and frauds and that is the reason these businesses need to open high-risk merchant account


What is High-risk business? High-risk businesses are those which pose high risk of credit fraud to the banks. A business is categorized as high-risk mainly on the basis of these factors- risk of failure, business working within high-risk industry.


List Of high-risk business ● ● ● ● ● ● ● ●

Online Gambling, Online Gaming, and Casinos. Sports Booking. Travel and Advanced Booking. Subscription-based services. Telemarketing services. Bitcoin Mining or Forex Trading. Cannabis Products / Head Shops. Pharmaceuticals.


Top 6 High-risk merchant Accounts

➢ ➢ ➢ ➢ ➢ ➢

Merchant one Promerchant My green merchant services Clover Fattmerchant Payment depot


How to open high-risk merchant account?

➔ Establish a legal business ➔ It is because you will need a copy of certificate of incorporation ➔ Establishing a federal tax identification number(TIN) ➔ Find a bank which is willing to have you setup the merchant bank account. ➔ Not every bank will allow you to set up high-risk merchant account with them


After finding a bank you need to present some documents such as your photo ID or proof of address to open the account ➔

You will be asked to deposit opening amount which varies according to banks.

the bank a letter of verification,

The letter should be typed on bank letterhead and then it should be signed by a bank representative.

Other information that would be there : Account number, bank Acc name and routing number.


For expert guidance or for any assistance in opening a high-risk merchant account you can refer to the services of high-risk merchant account.

Contact ● E-mail - info@mygreenmerchantservices.com ● Phone - +1-844-405-1860


Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.