High Risk Merchant Accounts

High risk merchant accounts are more common than some business owners may think. If you fall under the high risk category, there is no need to panic. Choice Funding provides secure and stable merchant accounts for our clients for almost any industry type. Our clients are given the correct SIC and MCC codes upon setup which drastically reduces the risk of the account being terminated, unless there are extremely high charge backs or fraud.

Why would a business be considered high risk?

  • Poor credit
  • Industry type
  • Chargeback ratio or recent spike in chargebacks
  • Offshore processing
  • Being declined previously for a merchant account

What is a high risk merchant account?

A merchant account is a type of account, approved by a certain bank, that allows its owners to accept credit cards as a form of payment for their goods and services. However, the type of business applying for the merchant account may influence its risk factor, and some banks may not approve what is considered by them a high risk merchant account. It is important to understand that not all banks would like to work with any industry and therefore our job, here at Choice, is to find the bank that will work with your type of business.

What kind of accounts are considered high risk?

Although certain industries (listed below) are considered high risk, some industries that may be on the “safer side” may still be considered by some banks to be high risk, and that may be due to previous bankruptcies the owner of the firm may had in the  past, unsatisfactory credit history, length of company in business and so forth. So, shortly, even businesses that most banks consider low risk may by considered high risk at some cases due to the individual situation of each company.

Below is a list of industries that are considered high risk by some major banks and financial institutions.

Business Funding Services We Offer:
Merchant Cash Advances | Small Business Loans | Expansion Loan | Equipment Financing | Retail | Service | High Risk | Other Business
High Risk Funding Services We Offer:
E-Cigarette & Vape | E-Commerce | Fantasy Sports | Gun & Ammunition | Nutraceutical & Supplement | Smoking Pipes and Paraphernalia | Travel & Tour Guide
Merchant Processing Services We Offer:
Point of Sale (POS) Systems | EMV Terminal Program | Domestic | International | High Risk
High Risk Merchant Processing Services We Offer:
Airlines & Private Jets | Business Opportunities | Costume Jewelry | Credit Repair | Debt Collections | Document Preparation | Drop Shipping | E-Cigarette & Vape | E-Commerce | Education Online | Electronic Benefit Transfer (EBT) | Electronics | Escort Service | Fantasy Sports | Foreign Exchange Market (FOREX) | Gun & Ammunition | Health & Beauty | Hotels / Motels | Male Enhancement | Membership Clubs | Mortgage Modifications | Moving Companies | Multi-level Marketing (MLM) | Network Marketing | Nutraceutical & Supplement | Online Dating | Penny Auction | Seminars | Smoking Pipes and Paraphernalia | Software Downloads | Stock Trading | Student Loan Relief | Subscription & Recurring | Tech Support | Telemarketing | Timeshare Litigation | Travel & Tour Guide | Vacation Home Rental | Warranty | Weight Loss
States We Offer Our Services In:
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