Sunday, January 8, 2017

Unknown Instances When Your High Risk Merchant Account Canada Could Be Declined

By Betty Wallace


Many businesses operate transactions that come with high levels of fraud cases through stolen cards and chargebacks. Moreover, the risk businesses may also face a high problem in gaining acceptance. That makes business owners look out for a special account where they can get services with minimal risks and save their businesses from losses. Such platforms will heighten the issue of security and also lead to minimal hassle when chargebacks happen. The article highlights reasons your application for the high risk merchant account Canada could be declined.

You must be a licensed business proprietor. Most of the small businesses will operate without licenses thus lowering their production cost. However, for you to qualify for the high-risk merchant, your business has to be a licensed one. Also, the license will show where exactly the business is located and what kind of business it is, in the sense of what products they do sell.

Assess whether your entity has a top possibility of having merchant fraud. The service providers who are looking forward to owning such accounts must be wary of such frauds more that the low-risk counterparts. The providers offering such services will look out for measures in place to counter and stop such issues in the work areas.

Look out if you have excessive chargebacks. These services offer more freedom to organizations that deal with many disputed transactions. The same principle will apply to those entities that offer services such as automated recurring billings and annual memberships. That helps to increase the duration where an organization is prone to chargebacks. Nevertheless, there is certain threshold that, most service providers will not cross. As such, to increase chances of acceptability, avoid having excess chargebacks.

The will always check on high fall rates of your transactions. If a client in your organization shops for the entity might decline any transaction if the data were given is not correct and does not follow the anti-violation rules. Sometimes the issues can not be avoided but this could of great significance to your company. If there is a huge transaction that has been declined, then there is a greater chance that your application will be declined.

How sound is your sales volume? For your application to be successful, your sales volume has to be appropriate. For you to own your account, you have to have the capacity to run large sales volumes and also be very transparent making you viable for ownership. Always give an accurate figure of all the sales and also update them on any changes in your business.

Ensure you have all the necessary documents. Banks are looking for clients who will give proper documents. During the application process, give accurate and up-to-date details of your business. Update them of any omissions on time. Always give up-to-date monthly statements of your business and show all the volume of sales on time. That will ensure you mitigate all chances of being declined.

Also, make sure you do not appear in the Member Alert Control Risk list. If you are wondering what the list is, well, this is a list of all the money launders. This is comprised of all illegal and fraud committers. And if you appear here no need to apply as your application will be automatically is declined.




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