Are You in Need of a Business Consulting Merchant Account Solution?
Business consulting businesses are classified as high risk companies by acquiring banks for the purposes of credit card processing. Being high risk also relates specifically to business consulting businesses mainly due to the big-ticket transactions as well as the delay between billing and the delivery of charged services. Alternatively, most US acquiring banks are reluctant to underwrite those companies. So, what exactly does this mean for you and your business consulting company? It means you’ll need a high-risk merchant account. Double Helix Processing specializes in working with high risk merchants, and we have multiple acquiring banking partners offering business consulting merchant accounts.
How Does Being High Risk affect your Business Consulting Merchant Account?
The challenges for businesses with a high-risk merchant account status are:
If your business is placed in the high-risk category, you are more than likely going to have a much more involved underwriting process. You will be required to come up with tax returns, corporate filing paperwork, several months (sometimes up to a year) of bank statements and processing history.
You can also expect higher than normal fees. This includes but is not limited to higher fees per transaction, higher fees for monthly statements, and a larger than normal cash reserve to ensure the processing bank that they are covered in the occurrence of potential chargebacks and or refunds or even a possible reserve.
Keep in mind that the above only applies if a bank decides to approve you, which most will not, and it can be incredibly difficult to find a reliable processing partner. You don’t have to go through the run around of finding and applying with several banks only to get declined – Double Helix Processing makes getting approved for an airline booking merchant account simple. Just fill out our quick and easy online Merchant Account Application to get started.
Why Does this Matter and How Can Double Helix Processing Help with my Business Consulting Merchant Account?
When you apply for a business consulting merchant account, the underwriters for the acquiring bank and merchant processing company are analyzing whether your business is one that has a high probability of high-ticket sized chargebacks — this is what classifies your business as a high-risk merchant. As a merchant in need of a high-risk credit card processor, they will have to attain a high-risk credit merchant account with a reputable company like the experts at Double Helix Processing. After all, Double Helix Processing are the best in the industry when it comes to high risk merchant accounts.
Why Should You Choose Double Helix Processing?
We understand the unique needs of the different business consulting related business types and have established numerous acquiring banking relationships to become your best resource in getting business consulting merchant accounts set up and accepting online payments. Our expertise is your ticket to getting the stable processing you need to further your business.