top of page
Search

Reasons why your Business Merchant application may be denied.

  • Writer: Contributor
    Contributor
  • Jul 17, 2020
  • 1 min read

Updated: Mar 17, 2022

Banks or credit card processors can deny a business’ merchant account application for the following reasons:

  1. Less than stellar personal credit history.

2. Your business is considered high risk.*


3. You don't match the average processing volume for your type of business.


4. You are blacklisted in the Terminated Merchant File (TMF).


5. You are delinquent in paying taxes.


6. Your online reputation is negative.


7. Too many chargebacks.


* High Risk companies include: Travel and Hospitality, Medical, Health and Fitness Trainers, Law Firms and Legal Practices, Childcare Service Providers, Freelance and General Contractors


Super High Risk companies include: Legal Cannabis, Tech Support, Web Development, Computer Services, Construction, or General Consulting.


If your Merchant Services have been denied, consider Direct Debit as an alternative. Lower fees, faster payments and simple application. See details and pricing in our Direct Debit page.



For more information follow this link for the original story from Payment Depot

 
 
 

Comments


Commenting on this post isn't available anymore. Contact the site owner for more info.
bottom of page