Documentation & Requirements
We profile more than a 100 merchants daily, some are accepted some are declined due to their risk levels. We are here to assist you with all your merchant incorporation and setups, let’s get started with the most important first, how about your credentials.
1. STATUTORY DOCUMENTS
eCommerce Sites to Include:
All pages to the bank statements are required. Business bank statements must show legal or DBA name, business address and full bank account&routing numbers. Personal bank statements must show full name or DBA name, business address and full bank account&routing numbers.
Month’s Processing Statements.
(Please see “Example Processing Statement Merchant Statement Example Format.pdf” for an actual example of a processing statement.) All pages to the processing statements required. Must be actual merchant statements. Reports should be by month and display merchant ID, processing month, name of processor, corporation name or DBA
If you do not have a processing history, please let us know. In the very few cases where you are processing but your processor cannot provide you with statements, our underwriter will need your login credentials to your processor`s account. You can change the password after the underwriter reviews your processing history.
Valid Driver’s License or Passport or State ID
In rare cases for offshore banks, the banks will require 2 photo IDs (one of which must be a passport) for each owner with 10% or more in equity ownership.
Voided Cheque or Bank Letter
With pre-printed DBA name and address (or) Bank Letter showing full account and routing number, see below samples:
Sample Voided cheque:
Sample Bank Letter:
If Website is Under Construction, please provide the items below:
“Complete marketing materials including contracts with cardholders, terms and conditions, price quotes, description of product or services & payment plan terms.”
Website Must Have Terms & Conditions per Credit Card Industry Standards
Your website should list Terms & Conditions. Please provide us a copy of the Terms & Conditions listed on your website.
If you are planning to accept payments over the Internet, you must know That Visa/MasterCard Regulations Require all e-Commerce Sites to Include:
1: Refund/exchange/cancellation or applicable warranty policies
2: Business contact information including business address (city, state, country), phone #, and e-mail address
3: A secure checkout page
Recent Home Utility Bill
Must include name and address matching what is on the application. The following are examples of what are considered utility bills: phone bills, cable bills, internet bills, heating bills, town bills, power bills, etc.Some processors accept credit card bills and personal bank statements as utility bills, however these processors are few in number and you shouldn’t count on it.
Articles of Incorporation
Listing Directors, Beneficial Owners and ShareholdersIn case the shareholders’ list has changed since incorporation, the bank will need to see additional paperwork sustaining these changes.