13 Sep

By ipaytotal

Category: High Volume Merchant Accounts

Domestic CBD Processing Solution Comments Off

Domestic CBD Processing Solution

Application & Website Requirements

1) Upon pre-underwriting approval, documents below required to support merchant application.

2) Application underwriting feeUSD 450 due prior to submission of the complete file to underwriting.

3) Legal opinion letter may be provided upon credit approval (if required).

4) Registered DBA certificate may be provided upon credit approval (if required).

Underwriting documentation Requirements

 Executed merchant application

 EIN document

 Processing statements – 3 most recent or account login credentials

 Bank statements – 3 most recent (see registered bank name requirements) *

 Voided check / bank letter (no starter checks)

 Articles of incorporation / formation,

 Utility bill (must reflect address of business)

 Driver’s license / passport

 Legal opinion letter (Sarms, Peptides, Research Chemicals, Nootropics) **

 Supplier Agreement & 2 invoices

Website Requirements

 Proof of domain ownership

 Privacy, refund policy terms and conditions

 Description: products, pricing, currency, shipping policy, terms & conditions (order page)

 Customer service phone number and email with hours of operation, business address

 SSL on checkout page (where customer info is collected)

Legal opinion letters need to discuss and attest to an attorney having done

 Review of the complete catalogue of products available on the website

 Review of relevant law, including references to specific laws by name (must include CSA in review).

 Review of the jurisdictional legality of the products (ensure the site doesn’t ship to banned states).

 Review of general accounting practices, (i.e. products in a legal manner).

 Draw a conclusion and attest as to the legality of the entire operation premised on the review.

Funding & Settlement Terms & Conditions:

 Visa / MasterCard, credit, debit transactions, $345.00 transaction cap.

 Gateway Transaction Fee passed to cardholder at checkout.

 Settlement once weekly, $1,000.00 minimum per settlement.

 Settlement a week in arrears (first settlement may take up to 10 days depending upon internal bank transaction flow audit).

 180-day reserve per transaction.

Service DescriptionFee
Monthly account maintenance$50.00
Bin fee per attempt$0.49
Cardholder gateway transaction fee$2.49
Chargeback fee$35.00
Minimum monthly processed volume = $10,000.00$99.00
Underwriting fee (prior to start of underwriting process, 1x)$450.00
New DBA filing & registration (upon credit approval, if required, 1x)$199.00 + state filing fee
Installation & Set Up Fee$399.00
Settlement & Reserve
Merchant funding once weekly$1000.00 min.
180-day reserve per transaction (percentage dependent upon underwriting results)10%
Wire Settlement fee- per funding$30.00


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