High risk merchant accounts

While most businesses may be able to recognize the value of card-not-present services, some might not realize just how difficult it can be for them to arrange a merchant account through a financial institution. It's an especially difficult venture in today's economy, when lenders are hesitant to taking on undue risk and are evaluating new clients with ever more scrutiny. For those reasons, businesses looking to set up high risk merchant accounts can benefit greatly from the counsel offered by Patricia Carlin Consulting, which has extensive experience working with these types of clients

The risk involved in arranging merchant accounts

Banking has changed over the past few years. The financial stress brought on by the Wall Street crash of 2008 ushered in a new era of lending. Businesses have become much more careful about who they lend money to and which types of accounts they open. An April 2011 survey from the Federal Reserve shed light on just how restricted financial institutions around the United States have become.

According to the survey, which spoke to senior loan officers at 77 banks, 100 percent of respondents believed a reduced tolerance of risk was "somewhat" or "very" important in their banks' decision to change credit standards when dealing with commercial loans and credit lines. Additionally, the Federal Trade Commission continues to develop new regulations regarding business models, creating a category of businesses that some banks may classify as too risky to engage with.

That can make matters difficult for high risk merchant accounts, many of which involve businesses that may work overseas or operate a riskier internet enterprise. There are banks that are willing to discuss merchant accounts with high risk business clients. However, many of those willing to take on the extra risk require their customers to pay higher fees and reserves for their offshore merchant accounts.

Solutions offered by Patricia Carlin Consulting

Given those factors, where can businesses go to arrange high risk merchant accounts. Patricia Carlin Consulting has the experience and resources to help these ventures connect with banks that will handle their new merchant account at a cost that's manageable.

For more than 14 years, Patricia Carlin Consulting has cultivated relationships with financial institutions that are willing to work with high risk merchant accounts and that trust Patricia Carlin Consutling to connect them with qualified clients. The company's reputation within the banking community gives it the authority needed to handle riskier merchant accounts.

The experts at Patricia Carlin Consulting review certain criteria for internet businesses looking to open high risk merchant accounts with U.S. banks. Factors such as a company's location, the type of internet business it runs, its existing volume, chargeback ratios, any issues with clients that may present the threat of having an existing merchant account terminated and its credit standing.

Once Patricia Carlin Consulting has gathered that information, clients will be put in touch with the financial institution that will provide the most beneficial long-term high-risk merchant account solutions. Clients of Patricia Carlin Consulting will not be charged for any application or upfront fees to process their merchant account application, and any processing fees will be fully disclosed ahead of time.

The experts at Patricia Carlin Consulting aim to be their clients' advocates during the application process, and in exchange clients are simply asked to be fully transparent regarding their risk level and financial situation. Once an account is established, clients may also depend on Patricia Carlin Consulting to manage their account, freeing them up to handle their own business concerns.

It is possible to arrange a merchant account and accept credit cards online, even for high risk accounts. Patricia Carlin Consulting has the expertise and industry clout to establish high risk merchant accounts, guide clients through the process, manage the account if needed and set clients up for long-term success.