What are the rates and fees for High Risk Accounts?
Rates and fees vary significantly with high risk accounts. This is how it will work: Once the Pre-Check Form and supporting documents have been submitted, underwriting will review your account and notify you of the fee plan they offer typically within 2 business days. It is your choice to take the offer or not.
Is a reserve required?
Not necessarily. It varies based on your processing volume, where we are able to board the account, financial stability, industry type etc. But sometimes having a reserve account to cover the underwriting bank from the risk of chargebacks can give you a more reliable processing partner and lower your overall processing costs.
What Documents are needed in order to get the ‘pre-approval”
- Articles of Incorporation
- 3-months of Business Bank Statements (if applicable: start-ups must provide personal bank statements)
- 3-months of Processing Statements (if applicable)
- Licenses (if applicable)
- Driver’s License
- Voided Check
- Industry specific (Contingency Agreement, Fulfilment Agreement, etc)
- Financial Statements (when requested or if >$150K/month in volume)
What documents will I be required to provide for the account approval?
- Completed and signed application.
- Photo Identification. Color copy of current Passport, driver’s license, Government Issued Identification, of owner(s)/ signatory(ies).
- Past 3‐months processing statements. (if Applicable)
- Past 3‐months bank statements. (if Applicable)
- Corporate documents: Copy of Articles of Incorporation (or equivalent). If DBA; please furnish DBA filing. If not available, a copy of your business license may be considered an acceptable substitute.
- Most Recent Utility Bill showing proof of Legal Business Address.
- Most Recent Utility Bill showing proof of Home Address for all members/shareholders of the company.
- Business Plan for start-up/new business.
- Business License IF required by law or for specific industries (i.e. ForEx, Gaming, etc.)
- Compliant Website:
What is needed for a website to be considered “compliant”?
- Clear description of goods and services listed on site.
- Clear pricing and currencies of each and every product and service.
- Terms and conditions clearly stated online.
- Contact details and location of business easily found on site.
- Customer service email and phone number listed on website.
- Times listed that customer service is available.
- Refund policy clearly stated.
- Shipping policy clearly stated on order page.
- Display Visa and MasterCard logo’s at checkout.
- SSL on all pages where customer information is collected.
How long does it take to get an approval?
Once all the documentation have been received, we can usually get a pre-approval within 2 business days. Assuming you want to move forward with the offer at that point, plan on 3-5 additional days if it is a domestic offer or an additional (3-10 days) if it is offshore.
What countries can we do business in?
We operate globally through a network of solutions providers: All countries, all currencies.
Can you help me incorporate offshore?
Yes. It is simple to incorporate in other countries which is done online, about $100 and within 48-hours.