Obtaining a Credit Card Processing Account-In Brief

This is a brief explanation on how to go about getting a credit card processing account for your business or otherwise called a merchant account. It is vital to every industry to be able to process credit card payments in every way possible to increase revenues. First, do research and choose a merchant service company to work closely with. This processor will be somewhat of a financial planner during the first stages and will walk the business through the procedures. Fill out the online application in its entirety and do not leave anything blank. Pay the processing fee this will initiate the application screening and the bank will consider the business in a paid status to move forward on the credit card services account. Submit all documentation as requested to meet the banks criteria. Do not send out any partial statements or it will be considered as incomplete. This will only delay the process. The business will want to be sure that each document is received in good hands and are meticulous copies. Faxing documents will delay the credit card payment account process as these docs are received hazy and will not be sufficient for the bank. Keep in mind that every method with the bank is calculated as time sensitive and paperwork received late may prompt the progression to begin all over again. All paperwork must be current and can expire as time passes.
A business may be asked to adjust items on their website or in the terms and conditions this is only to meet the requirements and will ultimately solidify the business. Any and all requests must be handled immediately in effort to continue this delicate process. Also, if a merchant application result comes back as a denial the merchant will be asked to resubmit as the processor will want to then route that merchant with another bank to reach final determination resulting in credit card services. This becomes the cycle until a final approval and agreement of the terms can be reached. If a business is a special circumstance (i.e. business has negative credit, new business without established history, considered a high risk company, etc.) then the merchant should expect to go through this approval series as is common practice. Once approval is reached the integration process commences to get the company up and running with the necessary virtual terminal and payment gateways needed.