Why are we a top ACH or eCheck choice? Because every client gets three guarantees whether you sell online, over the phone, or in a retail location : Instant Online Quote. No offline paperwork, no faxes, no waiting. Industry Minimum Pricing.
What Is The Use Of Echeck Merchant Account For High Risk Business?
eCheck Services May be a Better Fit for Your Business…Here’s why
Are you looking for high risk echeck processing? National ACH establishes high risk echeck processing accounts for companies unable to obtain ACH accounts due to chargebacks, returns, or business type,. High risk merchants in all industries are welcome to apply. Echecks or electronic checks are generic terms used to describe a payment that is automatically debited from a bank account. Echecks are the most popular alternative method of payment for Americans. Although the term checks is generic, not all electronic check transactions are processed the same way.
Features & Benefits
Even after you clear all of these hurdles, you still may not be approved to accept credit cards. Click Here to learn about our eCheck and merchant account agent program. Ok…so why should you consider processing e-checks, rather than credit cards, especially for your high-risk business? That means you can accept e-check payments for your products and services almost immediately. Then, there are the fees. High risk credit card processors typically charge high up-front application fees of as much as one thousand dollars or more, with far lower chance of approval. On the other hand, the setup process for high-risk e-checks is far less costly, with no upfront application fees, and very small monthly processing fees, which are a small fraction of what high risk credit card processors charge. And, with a high-risk e-check application, you are pretty much guaranteed to be approved.
There are certain businesses, by no fault of their own, that are considered high-risk industries. Examples of high-risk industries would include anything adult-oriented, travel, nutrition, call centers, and even eCommerce merchants. There are still payment processors who will definitely work with you. On the downside, you may have to pay higher processing rates and fees. For starters, only 7 percent of Americans do not have a bank account. Since an overwhelming majority of the country has access to a bank account, offering this type of payment means that you can boost sales. Remember, not all of your customers have a credit card, but they do have a bank account. In most cases, it costs under a dollar to process. And the funds are usually available either the same day or next business day.