Merchant Accounts FAQ

EIN Registration
Do you need to have a registered LLC in order to get an EIN? Can you get an EIN through a sole proprietorship? A: You can use an existing Ein and existing ...
Tue, Jul 2, 2024 at 12:47 PM
Do you know what the average merchant processing fees are?
The average fee is 2.67% plus $.30. So...average fee per sale is $5.96.
Tue, Jul 2, 2024 at 3:47 PM
Do we need to use two different vendors for our merchant accounts?
Yes. For most merchants you need to have two separate merchant processors. You can also ask them, as some merchants will provide two accounts with the same ...
Tue, Jul 2, 2024 at 6:17 PM
What website do I need to supply to the merchant account companies when I apply?
We use a Shopify store because it’s inexpensive and easy to create. The purpose of shopify is to get your merchant account approved, as they’ll ask for the ...
Tue, Jul 2, 2024 at 6:17 PM
The merchant account representatives are asking for a COA. What is that and how do I get that?
The COA (Certificate of Analysis) is a report generated by a laboratory that breaks down the amounts of the various elements of the product. We have one cur...
Tue, Jul 2, 2024 at 6:17 PM
The merchant account representatives are asking for a 3rd party fulfillment agreement. How do I get that?
We provide this for you. reach out to our support team
Tue, Jul 2, 2024 at 6:18 PM
What happens if we can’t get approved for a merchant account?
We've never seen this. If you have issues getting an account, that’s when our team will assist you. Go through the process first with applying to multip...
Tue, Jul 2, 2024 at 6:19 PM
Will the merchant account companies pull a personal or business credit report?
They look at credit, but it's not a big factor. It’s a soft pull if anything. There are options even if you have bad credit.
Tue, Jul 2, 2024 at 6:19 PM
Do you recommend applying to all the merchant account companies on the list?
Apply to at least 3 or 4 and choose the first 2 that approve you.
Tue, Jul 2, 2024 at 6:19 PM
Why do the Members have to get 2 of their own special merchant accounts?
The merchant accounts you will need are called high-risk merchant accounts as banks classify online product sales like vitamins as high risk now. You'll...
Tue, Jul 2, 2024 at 6:20 PM