8:17 AM
Unknown
Most of the business fraternity have increased levels of fraud which is caused by theft of cards and setbacks. Also, the problems the business will undergo when trying to be accepted by clients. This will force the proprietors to look for accounts which will offer amenities with minimal if not no loss at all to save their businesses. This will assist to improve the security and lower the struggle when losses are incurred. Below are the reasons why your application for the high risk merchant account Canada will not be accepted.
You could be having licensing problems. If you have to apply for such accounts; you must be operating a licensed business. For most entities, that can be as simple as having a business permit. However, for companies operating gambling sites and sensitive businesses such as pharmacies are strict regarding permits as they have to dictate where they operate their businesses and the kind of products they deal with at all times.
Evaluate if there is a higher probability for you to incur losses. The . Company that will take the account must be sure to know the particular problems that the account might face. The new owner will always find particular ways to counter the problems and eliminate them.
Check the higher losses you incurred. This company will have merits to companies with many problematic transactions. This will also be used if there are instances of companies that offer amenities which include automated recurring billings and yearly memberships. This will assist to raise the time of when the company will FAC this loss. Also, there are particular rules that can be followed by all amenity providers. This will raise your ability to qualify for an account. Therefore prevent increased losses.
Most of the banks will be looking for the rates at which customer transactions are declined. Instances, where the bank related to your customer, may decline the transaction may be, for instance; the customer has given wrong and violating information. In such a case the transaction is unsuccessful. And if these declines are constant your application may also be declined.
Do you have inappropriate sales volume? The ability to operate large volumes of sales is one of the reasons you could run such an account. However, you must always ensure transparency in your sales. If there are instances you report disproportionate sales volumes that call for scrutiny; that could make your application declined.
Be certain to possess the required papers. To work with a bank and get an account, you must provide require documents. When registering, make sure you give the latest details about your entity. Any errors should be solved earlier. Additionally, correct digits should be used when giving out the sales and also some sales monthly. This will make sure you eliminate the instances where your application will be declined.
Always avoid getting into the MATCH (Member Alert Control High Risk) list. This is a list catalog of all the offenders of money laundering, illegal transactions, collusion and fraud among others. If your business makes an appearance on such a list, you stand a chance of failing to get such an account for up to five years.
You could be having licensing problems. If you have to apply for such accounts; you must be operating a licensed business. For most entities, that can be as simple as having a business permit. However, for companies operating gambling sites and sensitive businesses such as pharmacies are strict regarding permits as they have to dictate where they operate their businesses and the kind of products they deal with at all times.
Evaluate if there is a higher probability for you to incur losses. The . Company that will take the account must be sure to know the particular problems that the account might face. The new owner will always find particular ways to counter the problems and eliminate them.
Check the higher losses you incurred. This company will have merits to companies with many problematic transactions. This will also be used if there are instances of companies that offer amenities which include automated recurring billings and yearly memberships. This will assist to raise the time of when the company will FAC this loss. Also, there are particular rules that can be followed by all amenity providers. This will raise your ability to qualify for an account. Therefore prevent increased losses.
Most of the banks will be looking for the rates at which customer transactions are declined. Instances, where the bank related to your customer, may decline the transaction may be, for instance; the customer has given wrong and violating information. In such a case the transaction is unsuccessful. And if these declines are constant your application may also be declined.
Do you have inappropriate sales volume? The ability to operate large volumes of sales is one of the reasons you could run such an account. However, you must always ensure transparency in your sales. If there are instances you report disproportionate sales volumes that call for scrutiny; that could make your application declined.
Be certain to possess the required papers. To work with a bank and get an account, you must provide require documents. When registering, make sure you give the latest details about your entity. Any errors should be solved earlier. Additionally, correct digits should be used when giving out the sales and also some sales monthly. This will make sure you eliminate the instances where your application will be declined.
Always avoid getting into the MATCH (Member Alert Control High Risk) list. This is a list catalog of all the offenders of money laundering, illegal transactions, collusion and fraud among others. If your business makes an appearance on such a list, you stand a chance of failing to get such an account for up to five years.
About the Author:
You can find a detailed list of the benefits you get when you use high risk merchant account Canada services at http://highriskpaysolution.com/creditcardmerchantaccount today.
0 comments :
Post a Comment