Merchant Account Application Process

http://www.merchanthotline.com

This is a video about the process of setting up your merchant account. The merchant account application itself is not very complex.

I usually recommend thinking about this application the same as if you were to be applying for a line of credit with the bank.

The account itself is actually a line of credit with the bank as they are depositing funds into your bank account trusting you to deliver whatever product or service you've charged for.

The merchant account application includes the paperwork, a copy of a check from the account you want funds deposited into and depending on previous processing or the amount you're applying for, you may be asked for additional documents including bank statements, etc.

I recommend working with your merchant account rep, or service account manager that is helping you with the setup process to determine what you need. A good rep can help you know what you'll need to submit in order to get approved.

Once you've submitted the application, you'll have the account go through an approval process. There are underwriters that will review the information in your application and approve or decline your app. They may also request additional documents before they approve the application.

If you do not yet have someone to work with for your merchant account, I offer my services as well. You can call me at 800-893-9540. I am available to help with an application over the phone as well.

The process is simple and can be done in about 20 minutes over the phone. I can help you setup a new account for a new business as well as a take your existing merchant account and reduce your expenses. Depending on how much your processing, typical savings on reducing your rate are right around $100 per month or about $1200 to $1500 per year. The more you process, the more I can save you.

Hope this helps you.

Best regards,

Brian Armstrong

More Merchant Account Vids:

1. Merchant Account Basics: http://www.youtube.com/watch?v=RuqOJqIiAQI
2. Pricing: http://www.youtube.com/watch?v=ZLADu1_oZZA
3. Per Transaction Fees: http://www.youtube.com/watch?v=817t-qW_hWA
4. Discount Rate: http://www.youtube.com/watch?v=wSSf6_2tnr8
5. Monthly Fees: http://www.youtube.com/watch?v=jbe-uFo9aFA
6. Setup Fees: http://www.youtube.com/watch?v=Rtnj_FUbp78
7. Ecommerce Info: http://www.youtube.com/watch?v=fZKmX8fbqRU
8. Personal Guarantee: http://www.youtube.com/watch?v=aLKjl6N4TUA
9. Summary: http://www.youtube.com/watch?v=7wo2flJ3RJM

Category:

Howto & Style

Tags:

• business
• merchant
• account
• startup
• gateway
• approval