High Risk Ach Processing

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High Risk Ach Payment Processing By Quadrapay

High Risk Ach Processing For Startups And Experienced Merchants

Merchants across the United States use ACH and Echeck for payment processing. Since the last few years, High Risk ACH Processing has started to see more significant demand. High-risk merchants usually work with these High-Risk ACH payment processing solutions. Startups, merchants or merchants with bad credit scores can also use a high-risk ACH merchant account.
Conventional credit card processing companies prefer to work with low-risk merchants. High-risk merchants may fail to maintain the chargeback limit of the card processors. These merchants approach High Risk ACH Processing companies. If financial institutions have said no to you for card processing, then you should apply for ACH now. In this article, you will know how Quadrapay can assist you in getting High risk ACH Processing accounts. Quadrapay has established relationships with few established third-party USA ACH processing companies.

How High Risk ACH Processing Services Work?

Let’s take a more in-depth look at high risk ach processing services. It is essential to understand how ACH transactions go through. ACH processing companies offer the facility to collect sales over phone and web. Business owners can easily integrate the solution on their websites. Processing companies offer highly efficient API. The first step to use ACH processing services is to enroll with a service provider. After getting approved and integrating the gateway to the website, the merchant can start accepting payments. Your customers can place orders by over the phone, or they can also visit your site and follow the cart shopping process. For some high-risk merchants, these companies can also offer voice verification and e-sign facility. With voice verification, merchants can quickly eliminate a considerable amount of fraud transactions.
An electronic signature document can also be utilized by the processing company to reduce the credit risk factor. Most of the time within 24 hours the funds move from the payer’s account to the payment processors account. The processing company will further deduct the transaction charges and make settlements to the merchant’s business bank account. To accept ACH payments for your high-risk business, you need to collect these necessary details from the buyer.

  • Full Name
  • Billing Address
  • Shipping Address
  • Phone Number
  • Email
  • Account Number
  • Routing Number

Once you submit all this information on the virtual terminal provided by your high risk ach processing company, then this information reaches the ACH processing network in batches. Through the merchant control panel, you can track the status of each transaction. Merchants can also initiate refunds if needed.

Type Of Payment Methods Available With High Risk ACH Processing.

As discussed earlier in this article, there are two modes of payment used in ACH. Web-based payments and virtual terminal-based payments. If you have an E-commerce website where customers can look at your product, then the web-based integration can be a perfect option. In case if you have the requirement of accepting mail order telephone orders, then the virtual terminal will be useful. No matter how you prefer to receive orders from the customers, ACH can undoubtedly help your business.

KYC Needed By Financial Institutions For High-Risk ACH Processing

To give you the approval for ACH processing your High risk ACH processing service provider will ask for KYC documents. These documents may vary depending upon the industry type, but some documents are always expected. Let’s look at vital documents that are needed for you to get approved.

  • Certificate of incorporation or business license: This is the document that will prove the validity of your business.
  • Utility bill and the business registration documents of the company: Financial Institutions require to know where the company is being operated. This is the key reason they will ask for a utility bill for your addresses. In case if you do not have utility bills, then you can certainly try to provide alternative documents that may include notarized Lease agreement.
  • Void check or letter of good standing: High-risk ACH payment processing companies settle funds to the merchant’s business account. To ensure that the merchant is sharing the correct bank details, they would ask for these documents.
  • Identification proof. Your national ID can work as the identification proof. You may also provide your driver’s licence or any valid ID proof to the processing company.
  • A website with an SSL certificate: Although these companies who provide high risk ACH processing still have to follow the mandatory guidelines for various financial institutions. The processing company will ask you for a who is a certificate. You can quickly get the certificate from your domain registrars control panel, or you can also visit whois.com and download the same. A screenshot of the whois report is sufficient.
  • Previous processing statement. Startup merchants may also be approved for ACH, but it always helps if you have a processing history. ACH processing companies feel more comfortable working with merchants with existing business activities. Even if you have a Paypal statement, you must show it to the processing company.

Recurring Billing With High Risk ACH Processing

Recurring billing is one more attractive feature that can be very helpful for the high-risk merchant account. Most Credit Card processing companies prefer not to offer a recurring billing facility to the majority of merchants. With ACH, merchants can accept recurring payments from their customers. They can easily collect monthly or quarterly payments. Industries like Search Engine Optimisation, Web design, online pharmacy, gaming, credit repair, and online dating can effectively use the recurring payment facility.

Type of High-Risk Businesses That Can Use A High Risk ACH Payment Processing Solution

Businesses from various Highway Industries can use a high risk ACH payment processing solution. Some of the most common Industries that can get the most out of this processing solutions are listed below.

Some of the above mentioned Industries may not get success with ACH. Still, they can use echeck as an alternative mode of payment processing.
So if you have tried to get a high-risk merchant account and have not received any success, then it’s the right time to apply for high risk ach processing. ACH transactions can help you to achieve a similar amount of success in comparison to card transactions. The ability to accept payments over the phone using your ACH virtual terminal can help you offer a better experience to your customers.
ACH is undoubtedly a lot better than cheque processing. High-risk ACH is now available without any upfront cost for most of the business types. These payment processing companies are fast regarding on-boarding. High-risk merchants can easily start accepting ACH payments in 3 to 4 business days. After successfully using ACH processing solution for 3 to 6 month, you can approach any Credit Card processing company with your processing statement. The Credit Card processing company may have better faith in you after they look at your ACH transactions.
It is time for you to apply with Quadrapay so that you can start accepting payment as soon as possible. Quadrapay team members will immediately get you connected with reliable third-party ach processing companies. To begin your application fill the form available on our contact us page.
You can also directly email us on [email protected] to get more information about high risk ach processing.

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Bankim Chandra
Bankim Chandra
Bankim Chandra is a Merchant Account consultant. He works with merchants globally and helps businesses in getting reliable payment processing solution. He writes extensively on the internet about Payment Gateways, Credit Card Processing, Echeck Processing, Chargeback Alerts, ACH and Business Funding.