HIGH RISK MERCHANT ACCOUNT SPECIALISTS
Category: High Volume Merchant AccountsComments Off
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).
Executed merchant application
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
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)
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.
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.
|Monthly account maintenance||$50.00|
|Bin fee per attempt||$0.49|
|Cardholder gateway transaction fee||$2.49|
|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|