What to Expect From the High-Risk Merchant Account Underwriting Process

Running a business under the high-risk category requires extra effort and patience when it comes to the high-risk merchant account application process. Given that the business is more prone to chargebacks, the application process can be overwhelming.

If you are a high-risk merchant and unsure what to expect with your account application process, here are the things to keep in mind.

How Do I Apply For A High Risk Merchant Account

The process of setting up a high-risk merchant account is straightforward. You just need to have a reliable high risk processing payment partner to help you secure the approval of the acquiring bank.

For a seamless high risk merchant account application process, you need to prepare the following:

  • Verification of identity; passport and utility bill of local shareholders and directors holding more than 15%
  • Shareholders certificate
  • Incorporation certificate
  • License number (if applicable)
  • Processing history for the last 6 months showing the number of transactions, total volume, and chargeback percentage
  • Working capital in the bank
  • Live website (with your business name, physical address, contact channels, terms and conditions, privacy policy, etc.)

What is the Next Process

After all the documents are turned in, they will be reviewed by risk management experts. The underwriters will determine if your business qualifies for a high-risk merchant account.

The above-mentioned documentation is the standard and may vary depending on your type of business. So keep in mind that you may be asked for additional documentation. Or, the underwriters may request an interview to further understand your business needs, essential for the approval of your high risk merchant account application.

Your credit card processing history will be scrutinized according, so if you have a history of excessive chargeback or an account suspended for a high chargeback ratio, this could affect your merchant account getting approved.

However, experienced payment processing partners have the means and workaround to make it happen. Thus, it is recommended to work with experienced partners for pre-approval.

What to Consider When Applying For High-Risk Merchant Account

  • Choose a payment partner that has reliable support to ensure that every issue in the future will be addressed promptly
  • Make sure that your payment processing partner has transparent pricing and possible extra costs
  • Work with a payment processor that offers flexibility and customization to fit all your business needs
  • The technology used is another top consideration for fast onboarding and user-friendly features with less to zero downtime
  • Your chosen payment processing partner should have advanced security technology and anti-fraud tools to shield your business from fraudsters
  • Your partner should have proven years of experience in the industry to know the ins and outs of the business for faster approval while ensuring your money is safe
  • Your payment processing partner must have knowledge and experience in supporting the type of business you operate in.
  • Lastly, you must obtain a copy of the contract to know the fees and conditions that come with the service.


Shanto is a professional blogger. He love to write about all latest topics. He is working as an seo expert from last 8 years.

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