Merchant Account for Business Consulting, Debt Consolidation, Financial Consulting

A business consulting firm or a financial consultant offers plenty of valuable services. Debt consolidation firms render immense service to their clients by rescuing out of their financial crunch. But, when it comes to getting a merchant account, these kinds of businesses struggle a lot to get the job done easily. Many of the leading payment processing vendors and banks reject their merchant account applications. Read on to know full details.

Online Merchants Debt Consolidation Credit Card Merchant

Financial consulting merchant account sells various financial services to their clients. Typically, they sell these on their own website. The customer enters their card data and makes the payment. They use visa/Mastercard/Discover/Amex cards in the virtual terminals. Hence these merchant accounts need faster payment processing. They are regarded as high-risk accounts by multiple underwriting banks. These type of accounts need merchant account solutions capable of handling recurring billing models.

The whole world has shrunk into a smaller place with the use of plastic money. It is practically impossible to monitor your accounts and save the client card data safely. A merchant account relieves you from many of listed botherations. It can easily help you to address your clients’ payment needs.

Denied/Shutoff/Closed by Credit Card Processors like First Data, Paypal, Square, Stripe

The debt consolidation firms collect a single payment from their clients. It will settle the payment to multiple financial institutions in return. Hence the volume in the merchant account will be high. Also, a timely payment has to be made. This requires automation of the billing in the merchant accounts. Data accuracy is all the more mandatory. These need the functioning of cloud-based multiple virtual terminals. These type of merchant accounts need fast automated ACH processing/check processing to avoid delays.

The merchant account should be a perfect solution for various needs like credit card debt consolidation, Home loan debt consolidation etc. Avoiding chargebacks is highly desirable. A ‘card not present’ transaction can prove to be very costly as it affects reputation. Chargebacks quickly accumulate in large numbers in this case.

Usually, payment processing vendors try to reject merchant account applications of debt consolidation firms. Or they try to classify them as a high-risk category and charge high fees and rates. When such is the situation these accounts cannot even think about privileges like No rolling reserve requirements (or) No Setup Fees.

Startup / New Business OK

Banks regard well-established business consulting firms as a high-risk client. Thinking about startups with no credit history is tougher. As a result, getting a merchant account for these startups becomes difficult and are forced to pay more fee. The rolling reserve stipulated by banks on such startups is enormous. As a result, the startups are left with meager margins.

Most of the underwriters look for good credit rating and credit history.

Business consulting firms need merchant accounts which require a high level of data security. The merchant account should be able to handle the huge volume. Due to the enormous volume, chargeback prevention and protection enabled merchant accounts are desirable. Many of the business consulting firms accept ichecks. The merchant account should be capable of handling such payments too.

Banks and financial institutions try to discourage accepting startup accounts. As a result, startups incur more cost. They incur a huge underwriting fee. For every add on facility offered in the merchant account, a higher fee is levied.

Domestic & Offshore Options

A good merchant account should be able to provide domestic options at lower rates and better security. Sometimes you may have offshore clients for your financial consultancy. The account should be able to provide offshore options too. Your international client should be easily able to make payments in your E-commerce portal. The merchant account should be friendly enough to make your customers happy.

History of high chargeback rate and negative bank statement can make banks to deny your merchant account for domestic as well as offshore options. Even when you have a website it should mention clear privacy and refund policies. If these are not available, the banks try to reject or charge a higher fee.

Are you running a debt consolidation or business consultancy?

Are you facing many of the above-listed difficulties?

You might be tired of running from pillar to post for getting your application processed.

We are offering a solution that can wipe off your worries. We are introducing ourself as a leading merchant account provider. We serve with a difference. The salient features that we offer are:

1. No setup fee

2. No application fee

3. Lower rates

4. We offer a faster application process

5. We do not charge a higher fee or rolling reserves even for high-risk businesses.

6. We offer a complete solution for domestic as well as offshore payments

7. We handle huge volume accounts

8. We provide a chargeback protection scheme

9. We provide a perfect solution for the major difficulties listed above

10. Our system is technologically advanced. It is capable of handling ACH/Check processing, Check drafting or any other service required by you.

11. We provide solutions which are error free. We know that any errors can cause damage to your reputation. Also, any data security threat can result in customer disputes. We offer you perfect fool-proof remedies.

Hence even if you belong to the high-risk category, shed your worries. You can reach out to us for your merchant account needs. You can benefit from lower fee rates and value-added service. There is no absolute excessive charging because you fall in the high-risk category.