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Home / Business / Small Business
Applying for a Merchant Account
By:Jack Chevalier
From : merchantpicks.com.
Merchant accounts are accounts that accept and hold credit card transaction monies. These accounts can be established through merchant service providers (MSPs) such as banks or via independent service organizations (ISOs).To complete a merchant application; you generally need to have the following information available:
General Information: Legal and DBA (Doing Business As) name, Business address, and name and title of legal business signer, Business telephone number, fax number (if applicable), and contact name, Yahoo! store/Auctions Order Manager Identifier, E-mail address, and Internet site address.
Business/Storefront Information: Zoning and physical store location, Type of ownership, state incorporated, and federal tax ID, The date your business began, number of employees, and what your business sells.
Sales Data & Business Information: Totals of annual cash and credit card sales, and percentage of credit card sales by mail order, telephone order and in-store purchases, Sales tax percentage, Credit card refund and submission policies, Delivery information, Method of Advertising. Businesses with credit card volume over $150,000 will be required to fax the signed Terms and Conditions agreement, along with additional financial data.
Current credit card processing information: Name, address and phone number of current bankcard provider, Merchant number.
Business Owner Information: Names, addresses, phone numbers of first/second owner, partner, or officer, Title and social security number of person(s) listed.
Banking Reference Information: Bank name and address, Contact name and phone number, Date the banking relationship opened and average daily balance of the account, Total dollar amount of credit available, total dollar of business and Personal accounts.
Funding information: ABA and DDA numbers (have a voided or blank business check available to retrieve this information).
Card Type Information: You will (upon approval) be able to accept MasterCard, Visa, American Express, Discover, and Diners Club. If you are a current American Express/Discover merchant, please provide your Service Establishment number provided by these card types.
Article Source: http://www.dailynewarticles.com
For more details visit at www.paynetsystems.com.
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