Looking for a Background Checks Merchant Account?

Do You Need Background Check Merchant Account Solutions?

Have You Lost Payment Processing for your Background Check Merchant Account?

How Does Being High Risk Affect Your Chances for Getting a Background Check Merchant Account?

The main reason to make sure you have the right background check merchant account payment processing for your business is to avoid the chances of your merchant account being shut down. The bank can close your account and hold funds, even without notice. This means you have no way of selling your services, it stops all cash flow entirely, and the money from the background check merchant account services you sold could be held by the banks for months.

When you start off with the right background check merchant account, you increase the prolonged longevity of the account. The bank’s underwriting or due-diligence does not end after the account has been opened. There is ongoing risk monitoring that is associated with all merchant accounts. So if a background check merchant account has been opened under false pretenses or the business model is deemed high risk after the fact, expect the account to be closed. Alternatively, starting out with the right background check merchant account betters the odds that the acquiring banks will be more lenient.

Additionally, if a customer requests cancellation of a recurring transaction that is billed periodically (monthly, quarterly, annually) from your background check merchant account, always respond to the request and cancel the transaction immediately  – or as specified by the customer. If you don’t want to fall subject to a credit card chargebacks, advise the customer in writing that the service, subscription, or membership has been canceled and be sure to state the effective date of cancellation. Failure to respond to customer cancellation requests almost always leads to a chargeback.