How to Apply For a Cheap Merchant Account
If you are interested in applying for a cheap merchant account there are some things you will need to be prepared for prior to applying.
You will want to make sure that you have a fully built website and not one that is under construction. A merchant account provider is going to want to see if your website looks decent, has working links, is easy to maneuver, and has products available with clear product descriptions and the selling price.
They are also going to want to see that you clearly provide an easy method for your customers to reach you at, i.e. a phone number, email address and mailing address.
Another important page your website will need to include is a privacy policy page, shipping policy and a return policy.
Your website needs to use secure shopping cart software and it must be in working order (although it won’t be processing at the moment.)
These things are important in order to start applying for a cheap merchant account because they want to make sure your company is reputable and responsible. They do not want to approve someone for a merchant account that is not honest or maybe only setting up a fake business to participate in fraudulent activities.
Some additional steps you may want to take care of prior to applying for a cheap merchant account are to make sure you have a business checking account (although some merchant account companies will let you use a personal checking account). You will want to have your Tax ID number ready and available, driver’s license and your social security number.
Finally, you will be ready to fill out your application. Some merchant account companies will call you prior to giving approval. They will want to call to make sure your contact phone number is legitimate and to go over any questions you may have. Usually the approval time can be anywhere from 48 hours to 7 days.