HIGH RISK MERCHANT ACCOUNT SPECIALISTS

13 Sep

By ipaytotal

Category: Best Marijuana Merchant Accounts, Best Merchant Accounts for CBD Oil, Cannabidiol & Hemp Payment Processing, Cannabis Banking & Payment Processing Solutions, Cbd, CBD and Hemp Businesses, CBD credit and debit card payments, cbd merchant account reviews, CBD Merchant Accounts, cbd oil merchant processing, cbd payment gateway, cbd processing, Credit Card Payment Processing for Medical Marijuana Merchant, credit card processor for cbd products, Gateway/Merchant Account for Hemp/CBD Oil, How to Get a CBD Merchant Account, Merchant Account for CBD Oil Company, Vape Merchant Accounts

International Offshore CBD Payment Processing Solution Comments Off

International Offshore CBD Payment Processing Solution

One Of The Best
offshore CBD payment processor
– iPayToTal
I

If you are in the CBD Oil business, we realize how frustrating it can be to discover offshore CBD payment processor for CBD when you have to take debit and credit card payments and to have your business run easily and effectively. Finding an offshore CBD payment processor can be complicated in the event that you don’t realize where to begin.


CBD oil solutions are viewed as high risk in the online merchant account world because of the nature of how the oil is produced; this sends the banks and moneylenders an immediate warning and your offshore CBD oil merchant account is considered as a high risk right from the get-go. This doesn’t mean you’re in a tight spot with regards to eCommerce and payment processing online (otherwise called card-not-present transactions), it just implies that you have to pick the correct offshore CBD payment processor to deal with every one of your requirements for CBD merchant processing.

Best possible offshore CBD payment processing solutions

Finding the best possible offshore CBD payment processing solutions can be hard to discover, and keeping in mind that the CBD oil business has pushed into a billion-dollar industry, we comprehend that the most ideal approach to grow your market is to share your services and items by means of an online presence.


iPayToTal has several offshore CBD payment processing options for you and we make it simple to obtain a CBD oil merchant account in as little as 48 hours.


To find out more about iPayToTal’s cannabis credit card processing options, our merchant account experts are available for a conversation at +44 800 776 5988 or get in touch with us through our website.


A prominent offshore CBD payment processor improves the viability of your CBD Oil business, which the traditional banks and the other popular merchant services could not offer.

Required Document Checklist

  • Application—Completed and signed .
  • ACH Authorization form—Completed and signed
  • Voided Check or Bank Letter
  • Card Payment Processing Agreement—Completed, Initialed and signed.
  • W9 (US Only) or W8—Completed and Signed
  • Clear COLOR copy of the Driver’s License, Passport or Government Issued Identification for the signer and any person who owns 10% or more of the company.
  • Two Residential proofs of address, for the signer, dated within the past 45 days

    1. The 2 proofs of address must include TWO different bills in the name of the signer and must be addressed to the signer’s residential address

    2. This can include a cell phone bill, electric bill, gas bill, personal bank or credit card statement, student loan payment, cable bill, etc.

    3. You can white out the amounts and personal numbers, but we must be able to see the address and date of the document.

  • Recent 3 months processing statements

    1. If no processing, please explain

    2. Start-up, please provide a Business Plan

  • Corporate Documents

    1. Copy of Articles of Incorporation, Operating Agreement, and Bylaws

    2. Shareholder Registry showing shareholders and percentage owned

    3. This can be a signed letter on company letterhead listing owner(s) and their corresponding percentage of ownership.

    4. Must be signed by each shareholder
  • Recent 3 months bank statements (Personal or Business)

Startups:

Below are the initial startup fees for companies with no prior processing.

Underwriting Fee: $800


*****For start-ups only for the cost of the EU corp. If a merchant can’t provide previous processing showing a minimum of 20k a month they are required to pay for the setup of their EU corp.


We will provide the wire instructions.

For Pre-Qualifications:

For all merchants, please submit the pre-qualification form fully filled out, along with the last 3 months of processing statements if they don’t have 3 months processing, please provide the reason and 3 months of bank statements (business or personal) showing a balance of $5,000 or greater for those 3 months.  Offshore CBD payment processor will need to see a working website.


If the website is not available to the public, please send us a website username and password so our underwriting is able to review the site.  The “Supplemental Web Compliance” sheet should be sent to the merchant along with the pre-qual application. This will give the merchant an idea of what they can and cannot have on their website.

After Pre-Approval:

Once the merchant has been pre-approved, we will need the Full Application Package filled out and sent back within 3 weeks, otherwise, we will need a new bank and/or processing statement in the new month.


All documents in the New Merchant package need to be submitted to us before the merchant goes into full website compliance and before the EU Corp is filed. If only partial documents are submitted, we may need to request updated proof of address and bank statements since those are time sensitive when filing for the EU Corp.

A

fter All, Documents Have Been Submitted:


Once all the documents have been received by underwriting, underwriting will email you the merchant terms. The terms need to be signed and initialed by the merchant and sent back to us before underwriting will begin website compliance. Once merchant terms have been received, the website will go through the “In-House Compliance” phase.


Underwriting will go through every detail on the website and notify you of any changes the merchant needs to make in order to comply with Visa/MasterCard, FDA, and our policies. If the merchant does not want to comply and make the necessary changes, their application will be denied.


Before we start the website compliance our head of Underwriting, head of sales and head of customer service will complete a conference call with the merchant to go over the process with the merchant and answer any questions they may have.

Important information to give each Merchant:

Monthly FEES

  • $99.99/month Maintenance Fee
  • $100 Annual Maintenance fee.
  • $100 Possible G2 Super-Persistent Monitoring may be needed for certain accounts

Then we have our “per occurrence” Fees:

Authorization Fee (transactions, declines, refunds, pre-auths, etc)= $0.30

Chargeback Fee = $35.00

Retrieval Request Fee = $15.00


If a transaction is being questioned by a customer, the Merchant have to provide more information about this transaction.

Representment Processing Fee = $15.00


Ethoca/Verifi Alert Fee = $40.00

Ethoca / Verifi – per occurrence Ethoca is MC and Verifi is Visa. These are alerts we receive if a transaction has a high probability of becoming a chargeback.


TC40 Fee = $20.00

TC 40 is an alert we receive from the card issuing bank if a transaction has a high probability of becoming a chargeback. Again, this is a per occurrence fee.

ACH Fee = $1.00

ACH Rejection Fee = $25.00


Wire Fee (Domestic) = $25.00 only applied if the merchants ACH was declined and they need their deposit wired

Wire Fee (International) = $35.00

Wire fee only when we are not able to AC

Any changes/update on the website they need to submit for our approval BEFORE adding on their website.

The reason why we ask for updates prior to adding them on the website is risk and security, and to avoid payment processing interruptions. These non-approved changes can cause fines from Visa and MasterCard which is why we are so strict about it. It is on yours and our very own best interest to comply with FDA regulations and Payments policy and guidelines.


Reserve

Each Merchant has a 10% rolling reserve for 180 days after which the funds are released back to you on the 181st day and so forth.

We can submit a request to lower the reserve after 3 months of consistent processing.


Payout Schedule-

To have a daily payout, you will need to process more than 40K monthly.

If you process less than 40K monthly, you will receive your deposit every Wednesday (10 days in arrears)


There is an initial 10 BUSINESS day delay and daily thereafter. Meaning on the 11th business day you will receive your deposit from the very first day you processed and on the 12th business day you will receive your deposit from the second day you processed and so forth.


Remember, you will get paid on time if you have consistent processing, this is what we are looking

  • 20k monthly
  • 4-5k per week
  • 50k monthly
  • 1,500-2k daily
  • 100k monthly
  • 3kto 3,500 daily
  • 150k monthly
  • 5k daily

If you process $100,000 in one month and on the other month you drop your process to$20,000, your payout will drop too. CONSISTENCY is the key to have a CONSISTENT payout.


If the merchant stops processing and fails to fulfill the items the customers ordered, a chargeback can be initiated by the customer for up to 6 months.

Monthly Limit
B

efore you reach your monthly limit we will receive an email, we don’t cap our accounts,


If you have been processing consistently and without any issue, your monthly volume limit will be increased. However, please let us know on the application the “real” amount a merchant would like to be approved for after the first 2-3 months of processing. Having a real processing volume amount allows us to better understand the merchant.

Looking for a CBD Merchant Account

Look no further than iPayTotal , the leading experts in getting your CBD Oil Merchant Account ready to accept payment

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