Which bank will my application be sent to?

Why would I need an offshore Merchant Account? What are the advantages?

What types of businesses are accepted?

Are there initial costs involved?

What is the discount rate?

How long does the application and set up process take?

Why do the banks/processors require so much information?

What is the acceptance rate for Merchant Account Processing applications?

Do the banks charge a reserve and if so, why?

How does it work and when do I get paid?

Which bank will my application be sent to?

All banks are not created equal!  World Wide Merchant Solutions has built relationships with an array of domestic and offshore banks for just this reason!

Upon receipt of the completed application and supporting documentation, your account will be evaluated, assessed and presented to the most advantageous banking relationship(s) suited to YOUR Company. Once your application has been approved by the appropriate processing solution, you will be notified in writing of your acceptance. When all the information and documentation is supplied from the get-go, this typically will take approximately 3 weeks. If additional information is required, you will be notified immediately and requested to provide the requisite information.

Why would I need an offshore Merchant Account? What are the advantages?

    Offshore processing typically has a higher chargeback tolerance.
    Larger volume limits and higher average ticket prices are welcomed.
    Your funds can be transferred to most any depository account in the world.

What types of businesses are accepted?

World Wide Merchant Solutions procures merchant account processing for Internet businesses, traditional retail businesses, travel-related businesses, MOTO, infomercials, adult and other high-risk and/or high-volume merchants.

Are there initial costs involved?

Once again... all banks are not created equal! Each bank/processor has their own specific rate schedule for applications, set-up and integration. These fees are typically payable after your application has been approved.

What is the discount rate?

The Discount rate is based upon many factors and will be determined by the banks/processors, following their evaluation of your application. Some of the factors include: the type of business, chargeback and processing history, assessed risk and your monthly volume.

How long does the application and set up process take?

Upon submission of your application and supporting documents, you will be notified of the status within 21 days. Status notifications include:

Your account has been approved,
Additional documentation is required.
Your application has been declined.

Once an applicant is approved the setup and integration process normally takes 10-14 days. (This will vary based upon your company’s technical expertise.)

Why do the banks/processors require so much information?

Applying for a Merchant Account can be equated to applying for a home loan. All of the information requested is required to assess the bank's risk in extending credit to you and your company. You might ask yourself.. "What would my chance of an approval for a home loan be if I left out pertinent data such as: current tax returns, banking information, creditworthiness, positive identification etc. etc.?"
The answer is ~~~ slim to none!

What is the acceptance rate for Merchant Account Processing applications?

Business owners are able to procure merchant account processing capabilities providing the company/principal has never been involved in credit card or any other type of fraud including criminal activities that would preclude extension of credit, chargeback activity has not been excessive, and they are able to provide the documentation and financials to satisfy the banks/processors requirements.

*We work with several banks that cater to high-risk merchant processing; therefore the type or category of the business is rarely a reason for decline.

Do the banks hold a reserve and if so, why??

Yes. Almost all banks will require a Reserve to protect themselves against chargebacks. Reserves come in many shapes, sizes and forms however, and are typically determined by the bank/processor after evaluation of your application. The bank/processor diligently monitors every merchant's chargebacks. If your chargeback ratio increases dramatically, becomes excessive or is beyond the acceptable limits, they may; notify you immediately, request an explanation, attempt to resolve the situation, request a higher reserve, temporarily suspend your settlements or terminate your processing. Rest assured, most banks will initially attempt to work out a mutually acceptable arrangement with the merchant, however.

How does it work and when do I get paid?

Your transactions are transmitted to the processor via a fully secure gateway and then processed on state-of-the-art equipment with redundancy to ensure uninterrupted processing. Clearance and settlement is performed by the bank/processor that issues the Merchant Account to you. Most banks/processors settle weekly, directly into your designated depository account.

To apply for your Merchant Account now, ~ CLICK HERE