Everything You Need to Know About Merchant Accounts
A merchant account is a type of bank account that allows businesses to accept payments using a credit and debit card. A merchant account held with an acquiring bank holds customer payments as long as they are approved by the customer's bank, prior to being sent to the merchant. Some people make the mistake of confusing a merchant account with a regular commercial bank account. These are two completely different things. What is a High-Risk Merchant Account? Most small business owners will never hear the term “ high risk merchant account ” until their business is identified as such. This seems a little cryptic at first. In some cases, this may seem like an unfair judgment about your business, the services you provide, the products you offer, or yourself. This is not true. From a seller's perspective, merchant account for high risk is often a sign that your business poses a greater risk of chargebacks and has nothing to do with what your business did or how it worked
