Skip to content
IBS Payment Solutions

IBS Payment Solutions

  • Home
  • Blog
  • Contact Us
  • Merchant Account
  • High Risk Merchant Account
  • Credit Card Processing
  • High Risk Payment Gateway
  • Virtual Terminal for mail orders
  • ACH Payment Processing
  • Cryptocurrency Merchant Account
  • Forex Merchant Account
  • Casino Merchant Account
  • Dating Merchant Account

Recent Posts

  • How to Open a Gaming Merchant Account
  • How do I apply for an Online Poker Merchant Account?
  • Steps in Applying for Merchant Accounts Online
  • Knowing How you Can Save Much On Credit Card Processing Fees
  • Accepting Online Payments: Security Tips For Merchants

Categories

  • ACH and Check Processing Services
  • Adult Merchant Account
  • Bitcoin Merchant Account
  • Business services
  • CBD Merchant Account
  • Credit Card Processing
  • Credit Repair Merchant Account
  • Cryptocurrency Merchant Account
  • Dating Merchant Account
  • E-Commerce Merchant Account
  • Forex Merchant Account
  • Fund Transfer
  • Gaming Merchant Account
  • High Risk Merchant Account
  • High Risk Payment Gateway
  • International Merchant Account
  • International Payment Gateway
  • Merchant Account
  • MMJ Merchant Account
  • MOTO Merchant Account
  • offshore banking
  • Offshore Merchant Account
  • Online Casino Merchant Account
  • Secure Payment Gateway
  • Tobacco Merchant Account

Recent Comments

  • admin on How To Open And Operate Offshore Bank Account
  • MAREK KOZLOWSKI on How To Open And Operate Offshore Bank Account
  • admin on Third Party Merchant Account Services
  • admin on Accept payments with Online Gambling Merchant Accounts
  • admin on How to obtain Adult Merchant Account Solutions?

Archives

  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • June 2017
  • September 2016
  • August 2016
  • May 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015

Meta

  • Log in
  • Entries RSS
  • Comments RSS
  • WordPress.org

Tag: Bad Credit Merchant Account

Open a Merchant Account for Bad Credit

Open a Merchant Account for Bad Credit

Each merchant account provider follows different criteria while approving a merchant account. But if you go through the basic requisites needed to fulfill in order to get approved for a merchant account, having a positive credit rating is one of them.

Merchant account providers are wary of accepting businesses with low or poor credit ratings due to risks of high chargeback threats and frauds.

Checking Credit History

Major Banks and merchant account providers are required to do a background check once you apply for an account. Background checks entail reviewing personal credit history or business credit history or sometimes, both.

A personal bad credit can usually be approved under certain conditions. If you are a limited company or corporation, your business credit history will be reviewed, not your personal credit.

If your credit rating history does not meet the provider’s eligibility requirements, obtaining a merchant account will be difficult. In some cases, you may be offered a limited merchant account.

A credit check entails reviewing debt history, whether the past debts are paid or not. The credit history of the business, the owner as well as the business partners will be checked.

Fees – Higher the risk, higher the cost

With the risk associated to merchants with poor ratings, fees can be a concern for merchants. Merchant account providers charge a higher processing fee to bad credit merchants.

Fees can also be based on the industry your business operates under. Bad credit merchants are categorized under the high-risk industry due to obvious reasons. A high-risk business merchant will have an even difficult time getting approved. The costs will also be significantly higher for such merchants.

However, you can negotiate and adjust the fees with positive and long-term processing relationship with your merchant account provider.

Merchants also need to be careful and discuss any hidden or extra fees that may be charged by the merchant account provider. Make sure to ask around and exhaust your options before accepting a high processing rate.

Bad Credit Merchant Account

Are you having difficulty obtaining a merchant account because of poor credit ratings or previous bankruptcy? Do not worry! There are several reputable merchant account providers willing to take on your business.

Many bad credit merchants are concerned about compromising and receiving limited payment processing services from providers. However, you need not worry about getting limited facilities as there are merchant account providers offering a variety of payment options and services. Bad Credit Merchant Account solutions offered are on par with standard merchant accounts and sometimes, even better.

Choose a fitting bad credit merchant account for your business and serve your customer better!

Posted on September 18, 2018November 21, 2018Categories Merchant AccountTags Bad Credit Merchant Account, Europe, merchant account, merchant account provider, UKLeave a comment on Open a Merchant Account for Bad Credit
Proudly powered by WordPress