About high risk merchant accounts

This article will highlight with all the necessary information about all you want to know about high risk merchant accounts.

These high risk merchant accounts are genuinely suited for entrepreneurs who are involved in dealings having high risks. The best examples of these businesses are gaming, pharmaceutical services, multi level marketing, travelling and telemarketing.

If you are looking for a merchant account provider who is ready to provide you a high risk merchant account for your business like above, then it may tend to be a tough job for you as many financial institutions and banks show reluctance to take any kind of increased risk for credit card frauds that compliment with similar high risk business.

Features and advantages

There are many advantages of getting a high risk merchant account. The good thing about high risk merchant accounts is that they are flexible and offer multicurrency transactions, real time processing, recognition and processing of major credit cards as well as 24x7 customer support.

To add to it, if you opt for merchant account provider located in some foreign country, you are likely to enjoy the tax discounts that are offered for setting up account with them. Merchant account providers have strict policies to approve businesses that set high risk merchant account.

The greatest difficulty that you will be facing while setting up this account is that of getting approval of your application from an account provider. The equation becomes simple as better the credit rating you have, higher will be the chances of approval of your high risk merchant account.

As you are very well of the fact that nothing comes for free in this world, the high risk merchant account holds no exception. The fees may vary with different account providers. Besides this, the fees that vary are determined by the level of risk that is involved and the kind of business that you own.

Setup fees may also differ from few hundreds to few thousand. The other feature about high risk merchant accounts is the budget.

If you wish to go for low budget, high risk merchant account usually costs certainly higher than the regular merchant account. This includes higher processing rates for credit cards.

The good news about high risk merchant accounts for you can be that the merchant account providers will offer services for these accounts without requiring any kind of security deposits to run your account.

The Durango Difference

Here is a short (not exhaustive!) list of what Durango can do. This is very typical of quality, high-risk merchant account providers.

• Travel (including vouchers, high tickets, reservations, accommodations)
• Medical billing is acceptable in the US
• MLM--we can only do some MLM's, not all. If they are a "get rich quick" scheme we most likely cannot accept it. But, if it is a good business model, with a tangible service or product behind it (like phone service or vitamins etc), then we can work with it.
• Electronics--high tickets etc for B2B and home-based drop-shipping electronics is acceptable
• Timeshare & real-estate advertising merchants
• Replica products- US Domestic Accounts
• Herbal supplements (not steroids, but herbal supplements are okay in the US)
• Financial consulting (tax advice or investing sites--like monthly Stock/commodities tips/tools, real-estate, etc)
• Calling/Phone cards /VOIP Services
• High tickets & high volume--Jewelry etc
• Adult--both products (DVD's/toys) or content is fine (video downloads/photo galleries/memberships etc). Adult merchants must register with Visa/MC to be legit in the US. DVD rental programs are okay.
• Telemarketing--Outbound depends on product line or history. Inbound is fine.
• Escort Merchants --No registration needed, can be done as retail with non-qual rates applying unless they have a wireless terminal (cost is $550 or so for a wireless terminal), otherwise imprints needed
• Dating Merchants--must register with Visa/MC
• eBook or Software/Digital download merchants
• Tickets--sporting, event (depends somewhat on biz model, how far in advance etc)
• Prepaid debit cards
• TMF merchants- both retail and Internet
• Demand Draft Check program- Check 21 compliant
• Canadian Retail and Internet Accounts
• Private Label Processing Gateway- Certified on FDMS Nashville, Global East, Concord Bypass, Paymentech Salem and Tampa, Vital, Pago plus a number of other International Platforms. Includes modules for recurring billing plans as well as ability to set up Agents
• DPOS software- Virtual Terminal ? for small to medium sized businesses
• High Risk ACH program
• International Offshore Merchant Accounts ( must not be start up companies)

With other services, You will not qualify if

Cigar and cigarette companies and all the pharmaceutical accounts do not always qualify for this account. One more thing you would like to know about high risk merchant accounts is that adult services market face difficulty to get approval of this account unless you do a huge volume business.

New travel agencies, replicas and lotteries will also face problems. If you have anything as FDA taint, then it is almost impossible for you to get approval of high risk merchant account.

Online help

You will find many online companies that will provide you with all the relevant information about high risk merchant accounts. The fees and guidelines differ with every company. Take your time and find the right company that will suit best for your requirements.

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