What Are The Requirements for Opening Merchant Accounts?

One you have decided which processing solution is right for your business and have chosen the merchant service provider that best suits your business needs, you can prepare yourself for the application process ahead of time by getting the necessary information together. Although the required documentation may vary depending on the provider, the following is a general list of what is typically required to obtain a merchant account:

1) Name and social security number of the owner or an authorized signer of your business
2) Copy of drivers’ license
3) Copy of voided check (Check must be commercially imprinted, not temporary or provide a bank letter)
4) Bank disclosure page
5) Articles of incorporation, business license or reseller license: used to ensure you are a legitimate
    business
6) Copy of your recent tax returns (provide 2 years for high processing volumes)
7) Estimated total monthly sales and average sale (transaction) amount
8) Statements from previous processor (if you’ve processed before)
9) Pictures of your business locale or office
10) Web site, marketing materials, price list – documentation of products/ services offered with prices)
11) Photocopy of your return policy information
12) Trade references (2-3 required)

The application and approval process goes very quickly. Call EPS at 800-863-5995 to get started today!