High Risk Merchant Account for Gold & Silver Dealers
Are You Trading In Gold And Silver Coins And Collectibles? You Need A Merchant Account Today!
Needless to say, the world of trading is vast and complicated but it can give you innumerable opportunities to put your money apart from opting for banking services. There are avenues like shares, property and even gold and silver to choose from. While investing in gold and silver can be highly lucrative, it also tends to come along with a high degree of risk. The market could get unstable, new laws could come up and you as a trader could have a number of high risk transactions to deal with. What could you possibly do to uncomplicated your situation as a trader? Get a merchant account!
How does an online moto merchant help your business succeed?
While buying and selling gold and silver coins as well as collectibles, you need to be prepared for anything that could affect the prices. People tend to invest big in precious metals and every time a new law emerges or prices change, huge transactions take place.
In order to make your business simpler and easier, you need merchant accounts. Trading in gold, silver coins and collectibles online will naturally require online merchant accounts. So what exactly will your merchant account do for you? It will allow you to receive payments directly via the customer’s debit or credit card by allowing a gateway setup. The entire process of online transactions is automated so that the funds end up in your account directly.
Have you been denied/shutoff/closed by other credit card processors?
It is not easy to get a merchant account for high-risk businesses like rare collectibles, gold and silver coin etc. A lot of businesses tend to be shutoff by credit card processors and are not offered appropriate services. This is because they find the mode of business quite risky.
This is where merchant accounts come into play. It not only takes care of your credit card processing needs but also provides you with additional features that are ideal for your business.
Banks tend to accept or reject your merchant account applications based on the High risk Vs. Low risk analysis. Low-risk businesses such as restaurants and grocery stores can easily get a merchant account. However, high-risk businesses such as online stores and rare collectibles traders face strict guidelines and regulations.
This is simply because the chances of scam are quite high in this trade. The number of chargebacks is also quite high. These factors lead to a bad reputation for the high-risk businesses with banks and underwriters.
What kind of merchant account do you need for Approval?
You will come across several merchant accounts to choose from while looking for credit processing services. Listed below are a few essentials you should be looking for in a merchant account if you are trading in gold and silver coins and collectibles.
While conducting an online trade, you will need virtual terminals so that all ecommerce transactions can be easily conducted without requiring access of the customer’s card or signature.
Always opt for a processor that accepts the most number of credit cards including Visa/Master card/Discover/Amex. The more credit cards you accept, the wider will be your customer base.
Rare collectible trade invariably involves dealing with chargebacks. An effective credit processor will be aware of this and continue to provide you with services without increasing fees or rates.
Multiple underwriting banks have the ability to reduce the risk of your business and prevent it from going completely offline if a bank shuts down your services.
Communication with customer support is highly essential. This is why you need to get a friendly service that offers good customer care.
We are here to help you!
In the light of these circumstances, let us assure you that you will not be turned down, closed or shut off anymore. We are here to provide you with chargeback facilities. We also follow the policy of no rolling reserve requirements.
Needless to say, our gateway setup is the simplest of all and will hardly consume much time. There are no additional application fees and no setup fees when you open a merchant account with us.
We simply require some details about your business and once we are done with our High risk Vs. Low risk analysis, we provide the portal to you.
You might keep buying as many gold and silver coins as you want to. When you use our virtual portals, we will gather your information and keep it safe. We also keep recurring billing information easily accessible for you so that you do not need to enter your details every time.
To add to all the benefits, we also happen to provide you with ACH processing/Check processing as well as check drafting services. We agree to the fact that in this industry, your payments can arrive in any mode and we want you to be prepared for all modes of payment.
A Quick glance at our offers
Credit Card Processing
Verified by Visa/Security Code
We welcome startups too!
New entrants or startup businesses face a good deal of harassment and troubles in the initial days. Payment processing problems can make them doubt their decision to enter this industry. We understand this completely and welcome startups by offering accounts conveniently.
Our rates differ for new and existing businesses because of the risks involved. If you are new, we will charge you more because we are exposing ourselves while providing you with our services. We process all types of cards like Visa/Master Card, Discover/Amex and most of the payments are done by electronic transfers.
Domestic and Offshore accounts
If your mode of business requires an offshore account, we can arrange for that as well. However, a domestic account has lower rates while an offshore account has higher rates because of the risk factors involved. What’s more, if your client wants to pay through his phone, we offer Iphone/Droid mobile apps for the convenience of the customer.
If all you have ever wanted is to watch your business grow, this is it! Call one of our friendly managers and he will process your application in no time. Your gateway will start receiving payments sooner than you could imagine!