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Requirements for an Online Credit Card Merchant Account

David John
Member
Joined: 2022-02-03 19:01:56
2022-10-03 18:09:49

In addition to the aforementioned requirements for an online credit card merchant account, you may be asked by your provider to pay a fee of up to $5,000 per month (depending on your credit card sales volume) for their services. You must start your business with and maintain an exceptional credit rating. Many banks and merchant account services hold the ability to cancel your account at any time due to a fluctuation such as a credit rating drop. Furthermore, if you are operating a high risk business online, it may be difficult to find a service that will sponsor your earnings. High risk businesses include timeshare organizations, collection agencies and gambling agencies. If you are running other questionable services such as chat rooms or online video entertainment, it may still be possible to obtain an account, but you will likely have to pay high service charges.

For your e-commerce business, you must have your website run from an IP address within the United States to be eligible for a US Bank merchant account. All transactions must be conducted in US dollars and you must have a US address and bank how to start a payment processing company account already withstanding to even be eligible for your online merchant account. While eligibility depends on various factors, maintaining a good business image, credit rating and relation with your investors and banks will all aid you in receiving merchant account support and services.

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