Requirements and Understanding to open a Merchant Account

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.

Approved / Secure website – Website(s) should be SSL certified, Terms and Condition, Privacy policy & return policy should be clearly mentioned on website(s).

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
for industries.

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