Merchant Stronghold loves Start Ups and Helps educate them on how to successfully open a merchant account and setting up a payment gateway. Like any Start Up, The business should have the following:
● Valid State ID or Driving License or Passport
● Articles of Incorporation of the Business, Any DBA or Fictitious Name Filing, should be assigned an Employers’ Identification Number (EIN) Issued by the IRS.
● Bank Letter or Void Check for the Business (should clearly state the business name, account # , ABA (routing) # and/or business address)
● SSN (US Citizens) or ITIN (US and Non US Citizens)
● Latest 3 months Utility Bills (Gas or electricity bill ,Telephone bill, Water bill)
● Appropriate Business Plans, Vendor – Re Seller – Fulfillment Agreement , if Any
● 4 Months Personal Bank Statements , Appropriate Financials , Strong Profile
The Start Up business also needs to choose between their marketing strategies and plan out should they need a Retail POS or eCommerce Virtual Terminal. High Risk business may have a six monthly 10% rolling reserve.
Once the business has all the basic documents and ready to apply for a Merchant Account, the Start Up business can just click Merchant Stronghold and start an application. It takes about 3 to 5 Business days for the Application to go through the Under Writing and Submitted to the Bank for a Payment Gateway Deployment.