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Merchant Account Requirements

Discussion in 'Business & Tax Advice' started by ddodson, Feb 4, 2013.

  1. ddodson

    ddodson Newbie

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    I was looking for some advice... I have am in the process of finalizing a web project which requires a merchant account.

    I have already put in an application through wells fargo for a authorize|net account. The problem is I do not have a utility bill in the companies name.

    The company is a class C Corporation. The account representative requested a proof of address for me, I provided a lease agreement. Then because it didn't have the business name, just my name on it, it was rejected again. I currently do not have a separate business address, I rent a room in a house. I have no utilities in my name or the businesses name.

    Does anyone have any suggestions as to what I can do to overcome this requirement? I would like to do this as quick as possible. Thank you in advanced.
     
  2. CosmicSoundz

    CosmicSoundz BANNED BANNED

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    One of my clients has the best merchant service companies around.

    PM me if you want his details
     
  3. parvezjasani

    parvezjasani Newbie

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    Ace Merchant Processing
    12869 Capricorn St
    Stafford, TX 77477.
    Office: (877) 680 4ACE (EXT 303)
    Mobile: (832) 656 3714
    Fax: (800) 918 7046
     
  4. zxlk21e

    zxlk21e Junior Member

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    I would suggest getting a new rep for your merchant stuff. I've had a number of ecommerce businesses with their own merchant accounts and I've never had to submit any kind of bill or anything with my company name on it. Sometimes you don't even need auth.net as a gateway, you can just use whoever you are with and directly tie it into your shopping cart, so make sure you need auth.net first before you waste $ per transaction and monthly fees with them!
     
  5. Zapdos

    Zapdos Power Member

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    Holy advertising.


    Don't go with a merchant account through your bank. They will have much higher fees, more restrictions and requirements. They'll also drop you sooner than others. Find a reputable 3rd party merchant account provider. I believe authorize.net even has recommendations on some. DO NOT go with any of the people above.
    Person #1 doesnt disclose who the company is. If they're so great, a company name wouldnt be a problem
    Person #2 has 14 posts in 2 years and the skype name shows its for high risk accounts. Expect to be paying 6% or more on transactions.
    Person #3 joined this month.
     
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  6. ddodson

    ddodson Newbie

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    Thanks for the information, what would be reasonable fees? This would be an ecommerce business, but i dont think it is high risk though. It would a webhosting company for a specific niche market... 100% whitehat...
     
  7. ddodson

    ddodson Newbie

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    Also, I am not quite vetted enough to PM. Soon one day, lol.
     
  8. Furious George

    Furious George Supreme Member Premium Member

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    It should be pretty easy to add a company name to a utility statement.

    You could always change the liability of the utility to the company, get a new bill.
     
  9. jakeparker

    jakeparker BANNED BANNED

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    I am currently with Flagship merchant services right now and I have had nothing to complain about with them. I do remember having to send in a utility bill, but I put the account as a "sole proprietor". Therefor, I only had to send in a utility bill that was in my name. Later on, I updated this with the merchant into my business name.

    Or you can hire someone on the forum here that offers their services to life the limit of a paypal account offers "novelty" utility bills. Just search the forum in the BST and you will find some.
     
  10. ddodson

    ddodson Newbie

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    Yeah, i have the skills to do novelty "anythings"... but i was trying to avoid doing that because all my stuff for this project was suppose to be legit.

    Good idea about switching the utility to my personal temp.

    Hmmmm is a cell phone under the company name considered a "revolving account" ??
     
  11. jakeparker

    jakeparker BANNED BANNED

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    A cell phone bill under the company name might work. I would submit it and see what they say. If they do not accept it, they will provide you with a list of acceptable items. From there, you will know what you need.
     
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  12. carlikito

    carlikito Regular Member

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    Try Chase Paymentech,

    Easy app process, resonable fees. Also they are one of the biggest players in the industry which means that almost anything can be hook to it.
     
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  13. RSILeads

    RSILeads Registered Member

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    can you recommend any for HISH RISK? I have a coaching floor and we sell services, would you happen to have a recommendation specific to merchant processing? PM with details or your contact info.
     
    Last edited: Feb 19, 2013
  14. dantefire

    dantefire Newbie

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    greenpayllc will work with you one the app. they are kinda black hat
     
  15. synconlinemedia

    synconlinemedia Newbie

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    Banks are the WORST way to go....high rates and fees and not tolerant of any negative issues. And if you are super successful they can hold your fund to" investigate" why. We offer super competitive low and high risk merchant accounts for anyone anywhere. Adult, weight loss, continuity...etc. PM me hit me on mail mark {at} synconlinemedia.com