How long does it take to set up a merchants credit card account?

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<h1>How long does it take to set up a merchants credit card account?</h1><strong> Author: <a href='http://www.articleseen.com/profile_ John Deko.aspx'> John Deko</a></strong><br /><p>Usually a merchant account set up can take from a few days to months or even longer. And to make it quick you have to work actively and provide the credit card merchant processor with adequate and accurate information. Usually while the bank is processing your account, they need to know lots of information about you and your business background. If you can provide all the information in time and in a proper way, then your application will be processes quickly. Now you might be wondering what sort of information the bank might need from you, so that you can prepare the related documents before you start your actual application. And also you would like to know the factors that actually alter the speed of the application processing. Required information checklist: • Previous business history and how your business performed • Existing bank accounts for your business. • Your Pro forma statements or future earnings forecast. • Expected sales and the percentage of credit card sales • How many transactions every month is expected on average? • Goods or Services to sell • Details of the suppliers in your supply chain • Service/ product delivery methods The factors altering the processing time span: • Credit record: The bank issuing the merchant services account to you, need to know your previous credit records. If you have a good credit score and a clean record, there is a greater possibility of your application getting processed in 2-5 days. Otherwise, the bank will take time to process your account using other evaluating factors. • Type of business: if your business is categorized under a high risk business such as gambling, petting, adult sites, gadgets sites, hype sites etc and so on, you have a great risk of not getting your merchant account approved within a short period. However, if you can convince the bank with other stuffs like credibility of business or forecast of sales which is based on facts- in that case, the processing will be easy and quick. • Transaction every month: If in your application your estimated monthly transaction is stated as a high figure, the bank will evaluate it for longer period. • The time of Application: If you are applying for a merchant account in the peak season like Easter, Halloween or Christmas, the time of processing will be longer, due to both the larger number of applications during that period and also due to banks being closed for a long time in those festive days. However, the trained and professional support team at http://www.creditcardmerchantprocessor.com/ will help you with your application and consult you so that you get your account approved pretty quickly. </p><strong>About the Author:</strong><br />For more information visit <a rel="nofollow" href="http://www.creditcardmerchantprocessor.com/">credit card service</a><p> Article Source: <a href='http://www.articleseen.com/Article_How-long-does-it-take-to-set-up-a-merchants-credit-card-account_126875.aspx'> http://www.articleseen.com/Article_How long does it take to set up a merchants credit card account?_126875.aspx</a></p>

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Category : Finance : Finance