Internet Merchant Accounts for Bad Credit

If you are looking to set up an eCommerce website, please be aware that your personal credit rating may affect your ability to qualify for an Internet Merchant Account with your high street bank. Even though you are applying as a business, banks will still take into consideration your personal credit, and if it’s not the best your application may not be approved.

Merchant Accounts for Bad Credit

The good news is that payment processing services are not solely offered by Banks. There are other options available online that will help you set up your online payment processing system in no time. Online payment providers and other third party processors have been around for a while and these companies can offer you the service you require regardless of your credit history.

The benefits of using these alternatives is that they have a faster application process (compared to most banks), approval rates are quite high, transaction rates and fees are competitive and services are tailored to meet the varying needs of different businesses.

Some of the best places to get a Internet Merchant Account when your credit is less than perfect include:

– Possibly the best solution for start-ups that have not yet had time to build up a credit history or for those that need a credit card processing solution that can be implemented quickly. Their fees are very low and the approval rates are good. There are several different plans that are tailored to specific business types including payment gateway packages for businesses that already have online merchant accounts.  They are also able to contact acquiring banks on your behalf if you want to get a better deal on your current online merchant account.

– Probably the most commonly used option for higher risk merchant accounts as there are no credit checks to open an account. While this is technically not an IMA, you will be able to process credit card payments and e-checks in 24 hours. Most of their products are also offered without any monthly or set-up fees.

– With a 99.9% approval rate, chances are your application will be accepted and your account set up in no time.  They specialize in high risk merchant accounts so if you’ve been turned down several times before, this might just the light at the end of the tunnel.

– This is ideal for businesses that also need a point of sale service in addition to an online payment gateway. They offer a high approval rating and competitive pricing structure.

– One of the most popular choices for bad credit Internet Merchant Accounts, they do not charge any monthly fees and their transaction rates are low. They also offer a third party account solution.

Merchant Accounts for Bad Credit

Just because you’ve made some mistakes in the past or haven’t had time to build your credit history doesn’t mean you can’t take payments online. With these solutions, anyone can start their own eCommerce site.