The growth of the business depends highly on the risk involved in the business. But, on the contrary some of the business are born risky, and these type of business end up facing a lot of trouble from the financial institutes and banks.
A merchant account that comes in handy to process online transactions through debit and credit card for such high risk businesses is called a high risk merchant account. These high risk merchant accounts are a bit expensive than the other merchant account, but they surely offer quality for money services.
The local and traditional banks and financial institutions stay away from getting involved with such high risk merchant accounts, that is where reputed merchant service providers step in and offer amazing services of high risk merchant account for your high risk business.
Why Choose IBS for Opening High Risk Merchant Account?
If you are merchant who owns a high risk business, by now you must have enquired about various merchant account service providers, and must have been finding is very difficult to obtain a good high risk merchant account. We at International Bank Services (IBS) are here with our best services for you. We are associated with a huge number of offshore banks and payment processors that are ever ready to offer stable and secure high risk merchant services for you high risk business. IBS tries our best to offer the best services for every kind of High Risk Business.
Here are some of the many features and services IBS offers your high risk business.
1) 24/7 expert guidance from the best trained professionals.
2) IBS accepts the businesses rejected by other institutes for being risky.
3) High Approval Rate.
4) Comparatively Faster Approval Process.
5) Account Set Up process is also faster.
6) Highly Secure Payment Gateway.
Why Businesses Are Considered High Risk and Which Are The Main High Risk Businesses?
Even if your business does not belong to any of the high risk business industry, there is a possibility that your business may be categorized as high risk business if your business is applicable to any of the below mentioned conditions.
a) Your business may be categorized as high risk business if yours is a new start up or a business in a newly established market and this type of businsses find it very difficult to establish credit card processing and merchant account for their business.
b) If your business involves high chargebacks, most of the businesses are considered high risk because of their high chargeback rates.
c) It does not matter what type of business you own, if have low credit score your business is definitely going to be categorized high risk business. Low Credit is the red flag for many financial institutes and banks.
d) If your business has faced the termination of merchant account from earlier merchant service provider.
e) No credit card processing history.
Also following are some of the many business industries that are considered for high risk merchant account.
Online Gaming Merchant Account
Dating Merchant Account
Gambling Merchant Account
CBD Merchant Account
Casino Merchant Account
MOTO Merchant Account
Bitcoin Merchant Account
Cryptocurrency Merchant Account
E-Commerce Merchanr Account
Advantages Of High Risk Merchant Account?
Owning a high risk merchant account comes with a various benefits.
1) Lesser limitations compared to other merchant accounts.
2) High Sales Volumes can be processed at launch events and other sales events.
3) Wide range in variety of products and services can be provided.
4) High Risk Merchant Accounts is applicable across international borders,
5) Recurring Payments are offered.
Some FAQs
Q: Why are high risk processing fees so high?
A: The most basic reason for high processing is that involvement of high risk in the merchants business.
Q: Why is my business classified as High Risk?
A: Your business is considered high risk because it may be a new business or you must be having a high chargeback and various other reasons.
Q: When are merchants considered high risk?
A: Merchants are considered as high risk depending upon the type of product or services the merchant provides.
Q: Why is business with poor previous record considered high risk?
A: A weak previous record shows a high risk to processors as there are possibilities of merchant defaulting and being unable to cover chargebacks and refunds.
So click on the link available of the website and get your high risk merchant account set up and approved with IBS.
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