How to Submit a New Merchant Account Application
If you are a merchant, then you will undoubtedly need a merchant account. Merchant accounts are accounts that your business holds with a payment processor or merchant services provider that give you access to the critical tools that your business needs to succeed and accept payments. Without a merchant account, your business will be unable to complete the most important part of any transaction--the receipt of the funds for the goods or services that were rendered. If you want to get a merchant account for your business, then the first thing you need to know is how to apply for a merchant account and what is involved in the process of the application. This insight will give you the knowledge and information that you need to be successful in the merchant account application process and provide you with a competitive edge when applying for your merchant account.
Information Needed for Applying for a Merchant Account
- At least 3 months of bank statements
- At least 3 months of processing statements, if applicable
- Valid identification
- EIN or SSN for the account
- A functioning website that has information about your business
Getting Approval for a Merchant Account:
How long does it take to get approval for a merchant account?
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