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Businesses considered high risk merchant accounts can be made more eligible and qualified if you follow these recommendations:
- Improve your credit history if it includes any previous bad credits. Bankruptcy and bad experiences with previous merchant account providers should be outlined and a credit reporting agency hired to present the credit report in the best possible way.
If you have had a good history with previous processors it will boost your credibility to get a high risk merchant account.
- Furnish fraud protection and risk management software in your online system.
- Be honest about your credit history when providing details to merchant account providers. Presenting your history of loans and any bankruptcy files will establish a favorable credit history despite the fact that the credit is negative. Trust plays a major role in merchant accounts.
- Provide complete documentation with regard to the history and time the business has been in operation. This will give the merchant account provider the confidence that you are able to recognize and overcome the risks of your business.
Business which are considered high risk merchant accounts does not mean that they will not be able to process credit cards online, there are numerous online processors like Instabill.com that are especially designed to provide high risk merchant account holders the ability to process payments online and accept high volume sales.
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