How to Get a Home Based Business Merchant Account

If you need a home based business merchant account, it can sometimes be a challenge to get the best merchant account for your needs.

Why is that?

Because it's a question of RISK.

Let me explain...

Opening a Merchant Account

When you apply for a merchant account, providers and banks want to make sure that you'll be in business for a while.

What's more, their biggest concern involves chargebacks (if you'd like to learn what a chargeback is click the link for details).

Basically, this means that they want to make sure you have enough money in your account to pay account fees and cover any returns or chargebacks.

So why are home-based businesses considered risky?

Rather than viewing your businesses as saving on overhead, TEIR perspective regarding YOUR business is based on the assumption that you can't pay your bills.

And if you have credit issues it only reinforces their point, making it even harder to open an account.

So what can you do?

Well, if you are just starting out you will need to apply for a moderate monthly processing volume. As long as you request less than $8,000 per month you should be ok.

And if you do need an account to handle more volume than 8k, apply to accept AMEX cards as well.

Sidenote: Merchant accounts are set up with monthly processing limit for Visa & MasterCard. Since American Express underwrites their own risk, there is technically no monthly limits on processing volume.

Basically, this means you could accept AMEX cards way above your processing volume restrictions -- provided of course that your customers choose to pay you this way...

Also, be sure you have solid "method of marketing" stuff to show the underwriters. This could include your website, business card, flyers, whatever you got.

Again, from their perspective how are you supposed to get more customers if you work from home?

So what can you do to make sure you get the best merchant account?

Request free merchant account quotes.

That way you can make side by side comparisons of the different merchant account providers able to work with home based businesses.

Then compare offers for yourself, ask questions and select the one that's right for you.

After all, the choice is yours...

I've found other business resources online to help you keep more of your hard-earned dollars in your pocket.

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