Adult Servies Merchant Accounts

Save money. Banks will look for stability in the businesses they grant adult merchant accounts to, so one of the best ways to get their approval is to have some money stashed in a separate account that will serve as your emergency fund. You will only use this reserve account for refunds and chargeback fees; it will show banks that you are serious about your business so they should also take you seriously.

Build good credit. If this is your first business, you should start building and improving a business credit score by getting a business line of credit or a business credit card. Also, make sure to pay on time and even early if you can so you can establish good credit and get good scores from major reporting agencies. If you have bad credit, that could lessen your chances of getting approved for an adult merchant account.

Always choose honesty. The thing is, you can’t hide anything from banks, especially with matters concerning your business. So if you’ve had a previous merchant account terminated or one of your businesses has gone bankrupt, you need to be honest about them and prepare to answer questions from the bank you’re applying for. Although these situations may be red flags for some banks, that doesn’t necessarily mean that you won’t be approved anymore. You just have to tell the truth rather than having the bank find out that you’re lying.

Complete your paperwork. Before you apply for a merchant account, you need to be ready with all the paperwork that would prove your credibility as a business.