A high-risk merchant account can sometimes sound too intimidating.If your business gets certified as high-risk, you will be denied from availing normal merchant account services. Now, high-risk doesn’t necessarily mean your business process or model is risky, sometimes your merchant account can fall into a high-risk category if your volume or average transaction total is high. However, here are a few ways to help your merchant account stay protected from becoming high risk.
Good account history-Maintaining a well-established business with a long credit card processing history is one of the most effective ways to prevent your merchant account from becoming high-risk. Maintaining a strong credit rating and keeping off the TMF list ensures that your account won’t become high risk and is also helpful as all reputed offshore banks are ready to provide you their services.
Secure processing-Use a strong and reliable payment service providers for your online transactions. Having a reputed service provider to process your transactions reduces much of such risks. Secure processing is a very vital tool to protect your account from becoming high-risk merchant account.
Picking the right one-Picking up the right service provider is one of the easiest and trusted ways to prevent a merchant account from becoming high-risk. A reliable merchant account service provider will advise you what to choose and what not to do, so that, your business doesn’t fall into the high-risk category.
Lastly, although there are high-risk ACH merchant accounts and ACH processing services available for high-risk businesses, if there is a chance, then it is better to prevent your merchant account from becoming high-risk rather than suffering from it.
Many companies and individuals choose to establish their highrisk merchant accounts in offshore jurisdictions. One of the major reasons for this is the potential tax benefits. And this trend is increasing at a great speed. Mainly, merchants with poor credit history or with a business type with high potential for fraud or customer charge backs hire offshore merchant solutions to open offshore merchant accounts. Obtaining an offshore high risk merchant account is easy. Offshore acquirers are less limiting and have a more bendy approach to the kinds of goods and services for which they process payments.
Opening onshore high risk ACH merchant accounts also provide great benefits. But you need to be little careful while opening them. Read the merchant account contract or agreement before signing anything. Check reputation and credibility of the merchant solution provider. Make sure to research well to look out for complaints of fraud, deception or anything that seem to point that processor is not reputable.
Using offshore merchant accounts are a perfectly legitimate way of doing business. But you need to choose trusted offshore merchant solutions, look carefully at the costs and the terms and policies before signing anything in black and white.
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Whatever may be your business type, it goes without saying you will need some way to process your business transactions that do not involve cash or check. This is true for all type of businesses, but it is especially true for those working in the World Wide Web. There are many types of businesses that are considered at high risk. One solid reason can be you are working in a very volatile or unstable industry or your business poses a risk of fraud or data loss.
There are many ways to determine if your business falls into the category of high-risk ACH merchant accounts. If you have a poor credit, this we are an issue and almost always be flags as a high-risk account. The same goes if you are working with an offshore account. The type of industry you are working in is also the very strong determining factor. You can also be rated as a high-risk merchant account if you are an online business dealing in, gambling and gaming, Pharmacy. tech support, Debt services, bitcoins and herbal refills.
Many businesses are not flags as high-risk business. There are many merchant account service providers that help business apply and obtain high-risk ACH merchant accounts. They will help you stay in your business to scale new heights.