Your High-Risk Merchant Provider

A high risk merchant account has never been easier to attain, thanks to Payment Savvy. Our team of expert advisors are on call to set up your 24/7 payment service that runs for 365 days of the year. We approve merchants that would otherwise be considered a high risk.

We are open to working with any organization and company that fall into the following categories:

  • Servicing customers prone to fraud or returns,
  • A negative perception of the industry as a whole,
  • Relatively high chargeback rate (over 1%),
  • High traffic with large ticket sales,
  • Start-up organization,
  • Heavily regulated industry,

At Payment Savvy, we are high risk merchant account experts and have tailored our products and services to cater directly to these businesses. Our combined 30 years of experience allows us to confidently offer a distinguished service, with both integrity and great value. We offer a custom and modern payment processing solution; whether needing a credit card, debit card, or ACH payment portal, we have a proven, compliant and secure merchant service to meet your organizational needs.   


The Benefits of Our High-Risk Payment Gateway

Our industry-leading technology includes fee-free processing, next day funding, and a wide array of payment methods. As a high-risk merchant, we know it’s important for cash flow that your money is transferred quickly and securely. That’s why we’ve built the industry’s best high-risk payment gateway.

We offer you the following benefits that we are uniquely positioned to deliver:

  • Speedy and efficient credit card, debit card and ACH payment processing
  • Knowledgeable support team available to address your concerns 24/7/365 via phone or email
  • Proven track record of approving hard-to-place businesses
  • No contract terms or cancellation fees
  • Secure and compliant payment gateways

Documentation Needed for a High-Risk Merchant Account

Setting up a high-risk merchant account is a simple process. It is important to submit all of the necessary paperwork in order to avoid delays in the decision making process. Preparing your documentation ahead of time will help to ensure that the application process is stress-free and successful. While exact requirements may differ depending on your unique situation, below is a basic list of standard items requested during underwriting.

Application Form

How to apply for a High Risk Merchant Account

This form gathers basic information about both your business and its’ principals. This includes addresses, tax identification number, phone numbers, email addresses, website address, bank account information, processing volumes, and average sales amounts to name a few. Payment Savvy will provide a prefilled Application for your review and signature after gathering information and creating a custom processing solution for your business.

Articles of Incorporation

Business entities are required to provide a valid copy of the organizational paperwork. If you do not have a copy on hand, the Secretary of State’s office in the state you formed your business may be able to provide you a copy for free or with a nominal fee.

Voided Check

A voided check is required for the bank account into which the merchant’s funds will be deposited. In most cases, a starter check is not acceptable. The check must be a permanent check that includes a pre-printed version of the business name, account number, and routing number. A letter from the bank can be submitted as a substitute in lieu of a permanent check. The letter must include the bank account information, and be signed by bank management. If you require fees to be withdrawn from a different bank account than deposits are made, it is important to provide voided checks for both bank accounts.

Reasons for Termination of High Risk Accounts

IRS Form SS-4

The SS-4 Form is sent directly from the IRS and verifies your organization’s Federal Employer Identification Number, or EIN.

Business Financial Statements

Depending on the requested monthly processing volume, underwriting may request business financials. Typical documentation submitted includes your most recently filed business tax return or complete financial statements (balance sheet & profit and loss statement).

Processing Statements

If your business has previously processed credit and debit cards, a monthly statements must be submitted. The processing statement should cover the most recent three to six months depending on your unique situation

Business Bank Statements

Similar to the processing statements request, be prepare to provide your most recent three to six months of business bank statements for underwriting review.

The documents listed above are just a sample of the required items needed when applying for a high-risk merchant account. Providing correct and complete paperwork gives underwriters an accurate overview of your business and make it easy for them to make swift decision. Payment Savvy will be with you every step of the way to ensure success and answer any questions or concerns you have.

High-Risk Merchant Accounts We Work With

There are hundreds of high-risk merchants that we partner with as their go-to payment gateway. If your business isn’t covered in our industries page – that’s fine! We work with hundreds of high-risk merchants from a wide selection of industries.

To get the most out of your merchant provider, it’s important to compare what payment methods are available. We’re pleased to provide all the major payment processes via our securely designed payment gateway. You can find a full list of services on our payment solutions page.

Payment Savvy specializes in providing high-risk merchants with the ability to accept credit and debit card payments. Please contact us today to review your options and apply for a high-risk merchant account. Our experienced team looks forward to creating a custom payment processing solution for your company.