Want A Thriving Business? Go For A Merchant Bank Account!
Every business wants to keep growing and flourishing and stay tight in the competitive war to succeed. Companies do each and everything to expand and shoot up. One such approach is to go online and offer your services or products to millions of customers. There would be many challenges in each up-stair, but the one who goes beyond the hurdle succeeds. The very first challenge is to have a robust framework or platform where you offer your services. And the very next major challenge is how to accept payments from the customers for the services you provided. Whether you are a retail shop or have an online ecommerce store, to accept payments electronically, you need a Merchant Bank Account.
Thus if you want a thriving business, go online and get a Merchant Account. We at Quadrapay help businesses get the right Merchant account at low rates. To get a merchant Bank Account stay tuned with us.
What Is A Merchant Bank Account And How To Apply For It?
For simplicity, a merchant account is where your payments from your customers get settled. It is a special type of bank account which helps your businesses to accept payments via credit/debit cards, ach payment processing services, mobile or any alternative online payment methods. The account is an agreement between the payment processing entities and merchants receiving the payments. Don’t get confused between a business account and merchant bank account; they are different. If you are a business owner accepting payments via cards or other online means, you must have a merchant bank account.
To apply for a merchant account do ask a couple of questions to yourself. Do you have any business, either online or retail? Are you ready to accept digital payments? If both the answer sounds yes, then you have completed the self eligibility criteria. The application process is smooth and straightforward and makes sure you have all the documents ready and comply with the website requirement. Are you still confused? No worries. We will now discuss what documents are required and what are the pre-requirements you should fulfil.
Things To Keep Ready To Experience A Smooth On-boarding To Get A Merchant Banking Account
We will help you with what are the important takeaways you should keep ready for a hassle-free start. There are some documents required to help you get started, and you should also adhere with some website compliance which will help you to get a payment gateway quickly.
Note: Whatever we discuss here is not the only one which is required, we may ask you more or less depending on the industry-type and transaction volume.
Documents Requirement For Fast Approvals
- Merchant Application: This is the pre-approval form you have to submit before we let you get started.
- Void Check: Void Check is a check or financial document that has VOID written over it. The check cant is used for payment but to gather financial information.
- Article Of Incorporation: Also known as certificate of incorporation is a legal document which defines the formation of your Company.
- 3 Months Bank Statement: The statement should show your recent financial transactions.
- 3 Months Processing Statement if available (Optional): If you already processed in the past than your recent 3 months, processing history is required.
Website Requirements For A Low Cost Merchant Bank Account Solution
- Terms & Condition: T&C page is an agreement between you and the visitors who are utilising your service.
- Refunds And Cancellation: The page ensures your customer about the returns and refunds on the services you are offering.
- SSL Certificate: It keeps your site secure and secures the financial transaction.
- Contact Us Page: It defines all your business address, contact details and supports email address.
- Disclaimer Page: It clearly defines the product you are offering and the consequences of using the service.
What Are The Various Fees A Business Is Liable To Pay For Having A Merchant Bank Account
Get your Merchant Account fees at industry standard rates and this may be as low as possible. We have waived off various charges to help you to get one of the best at a lower cost. Apply today to get your free Quotes. These are the basic charges a merchant should know.
- Setup Fees
- Per-Transaction Fee
- Monthly/Yearly Maintenance Fee
- Rolling Reserve (if required)
- Chargeback Fee
- Termination Fee
- Refund Fee
- Pre-Dispute Alert Fee
Apply Today To Start Processing With Quadrapay
If you have everything ready we have discussed above, then get ready for
Seamless onboarding experience. Apply today and fill the merchant application form to get started. As we come by your application, we will get back to you shortly. Get ready to enjoy a smooth onboarding experience with Quadrapay. Get in touch with us at [email protected]