Merchant Approval Criteria

Merchant Account SPECIAL OFFER Criteria

1. Special rates require extensive financial documentation such as tax returns, profit/loss reports, bank statements. 

2. Merchant must have very good credit.

3. Bank name, DBA name, and business literature must reflect the same name.

4. Documentation of return policies and terms of service. 

5. Merchant must have a current DBA certificate.

6. May not approve business types deemed to be high risk. 

7. Merchant must demonstrate dependability by prompt return of requested information, as well as business stability.

Preferred Merchant Criteria

• Acceptable credit profile without excessive derogatory credit 

• Merchant sells retail or wholesale items.

• Merchant processes less than $20,000 monthly.

• An owner with 51% ownership or more must sign as the personal guarantor.

• Partnerships must submit partnership agreement.

• Both public and private corporations must submit their articles of incorporation.

• Ownership information must be at least 51% for a corporation.

• Non Profit must submit tax information and confirmation of not profit status.

• LLC companies must submit articles of organization.

• International organizations must provide a copy of the charter.

• Tax-exempt  organizations must provide a copy of IRS exemption letter.

Businesses Requiring Special Approval

• chartered bus tours

• computer stores

• computer trade shows

• furniture stores

• intangible items     

• jewelry stores

• membership organizations

• very high volume

• mortgage reduction services

• multi level marketing

• seminars

• weight loss centers

Requirements for Special Approval

1. Photographs of site and inventory by a qualified site inspector.

2. Six months of previous processor statements if applicable.

3. If no processor statements, submit last 3 months of merchant bank statements.

4. High monthly volume accounts submit 2 previous years business tax returns.

5. Catalog, shipping method, delivery time, and refund policy.

6. Must complete trade reference section on the application.

Home Based Merchant Requirements 

1. Advertisements, brochures or catalogs that clearly describe products.

2. Photographs or product samples.

3. Description of the merchant refund policy.

4. If the merchant is offering a non tangible service, submit the following:

   a)  Statement signed by the principal describing the sales method used in obtaining business. b) Statement signed by the principal describing the service to be performed.

5. Trade References

6. Description of shipping and delivery time.

Accounts Requiring A Secured Deposit

• Astrology mail/phone order
• Barter Association
• Concert or Theater promotions (high volume)
• Dating Services
• Discount Coupon Book Sales
• Door to Door Sales
• Employment Agencies/Career Counseling
• Freight Forwarding Companies or Services
• Gambling Advice
• House Party Plans (I.E Tupperware)
• Investment Seminars
• Jewelry, Computer, and other Large Ticket Items at swap meets
• Long Distance Phone Service
• Magazine, Newspaper, Newsletter Subscriptions
• Mail Order Diet Programs/Vitamin sales/herbal remedies
• Mail Order Beauty Supplies
• Mail Order How-to-books
• Mail Order Jewelry       
• Mortgage Reduction Agent
• Oriental Rugs
• Precious Metal/Stamp Collection companies
• Pornography Dealers
• Telephone Calling Cards
• Telephone Message Services
• Water Softeners/Purification Systems/Air Filtration

 Non-Acceptable Business Types

• Airlines
• Audio Text Companies
• Check Cashing Establishments
• Collection Restoration/Repair Agencies
• Drug Paraphernalia of any Form
• Fulfillment Centers
• Hair Restoration Products or Services; Surgical or not
• Home Shopping Clubs
• Hotel Reservation Services
• Investment Opportunities
• Companies Promoting Lotteries or Raffles
• Massage Parlors
• Mortgage Brokers
• Outbound Telemarketing
• Pornographic Materials
• Prepaid Phone Calling Cards
• Pyramid Sales Programs
• Sales of Illegal Products
• Telephone Consultation Services
• Timeshare Organizations
• Travel Agencies/Clubs
• Vacation Rentals

** **  Non-acceptable business type accounts may be accepted if the following exist: