High-Risk Merchant Account Instant Approval: Set Realistic Expectations

 High-Risk Merchant Account Instant Approval

The claim of getting a high-risk merchant account instant approval sounds unreal, yet businesses explore it to the fullest. Getting a merchant account in a high-risk industry is a tough proposition. Securing it in no time rings an alarm bell. 

High-Risk Merchant Account

Minimum period: Three to five days

Industry-standard time: Three to five weeks

Low-Risk Merchant Account

Average time: 1 to 2 days

Credit History

A high-risk merchant goes through personal and business credit checks. On top of that, the business type complicates things further. 

High-Risk Merchant Account Instant Approval: Two-Step Verification Procedure

What are the steps for a high-risk merchant account instant approval? Your merchant account service provider evaluates your profile in the first stage. The acquiring bank is the second entity. It is the second stage that takes up to five weeks. Do you understand that instant nature is more of a marketing gimmick? 

Merchants often ponder what's in it for high-risk merchant service providers. The bait of instant approval has high interests hidden on both sides. Merchants want to get over the line of having a merchant account. Some services want to lure customers into agreeing to a long-term contract or charging exorbitant prices. 

Business owners don't have to lose hope. They have other options to get a merchant account. They must get their heads clear of instant approval.

High-Risk Merchant Account Instant Approval: How to Improve Your Chances

Meeting a high-risk merchant account instant approval provider serves as a reality check. Merchants start looking for specialized services to help secure a merchant account. These expert teams analyse your options and handpick processors to work with. Businesses squander their chances by not being honest. The application forms have inaccuracies that are beyond explanation. You shouldn't try hiding any relevant information because it would have serious implications.

Start working on your credit score. Check bank statements for the last six months. Do you see scope for improving things moving forward? Businesses should work on cleaning things up to leave a good impression on payment processors.

What about your website health? The checkout pages must contain crucial information. You do not want to leave anything unattended to cause confusion or leave doubts behind. The consumer-related policies should be easy to find and navigate. A high-risk business should make every conscious effort to erase the industry-specific perception.   

A high-risk merchant account instant approval doesn't have much scope, but it does help merchants to get back on track. Business owners acknowledge they need to fix a few things at their end first.