Requirements and Understanding to open a Merchant Account
Typical Merchant Application requirementsThe basic important Description and Documents are required in the Merchant Application for credit card processing.
Annual Volume – Merchant should describe the Average Monthly volume on the application.
Average Ticket – Merchant should describe the ticket size of the products and services they will provide.
Marketing Strategies – How the Products and Services are been Advertize, Should be clearly stated.
Business Owner’s D/L – Clear Scan copy of D/L is required.
Void Check / Bank Letter – Merchant should provide clear scan copy of Void check or bank letter of business bank account.
Months Of Bank Statements – Low risk Business require – 3 months of bank statements
High Risk business – at least 6 months bank statements.
Category may vary according the credit rating and other information which may needs are:
|● EIN Letter||● Bank References|
|● Articles of incorporation||● Tax Returns|
|● Utility bill||● Personal statements|
|● Chargeback Reduction plan||● Phone bill|
|● Audited Financials||● Non –Profit Proof|
Once the Documents are fulfilled, Merchant Stronghold set up the Merchant with best solution