High risk merchant accounts are ideally suited for businesses greatly involved in high risk dealings. Some examples of such businesses are those providing gaming, travel and pharmaceutical services, telemarketing and multi level marketing companies. Finding a merchant account provider willing to set up a high risk merchant account for businesses such as these may prove to be a challenging task as many banks and financial institutions are reluctant to take on the increased risk of credit card fraud that comes with such high risk businesses.

There are however, advantages of setting up a high risk merchant account. These include the flexibility of offering multicurrency transactions, 24-hour customer support, real-time processing as well as the recognition of all major credit cards. In addition, if you choose a merchant account provider from a foreign country, chances are that you will be able to enjoy tax benefits from setting up an account with them.

As merchant account providers are more stringent in approving businesses setting up high risk merchant accounts, the greatest challenge you might face trying to set up such an account may be in getting your application approved by an account provider. It is unsurprising then that the better your credit rating, the better your chance of being approved for a high risk merchant account.

As you would probably already know, nothing comes for free and a merchant account (a high risk one at that) is no exception. However, the fees involved can vary from provider to provider. Apart from this factor, the variance in fees is very much dependent on the level of risk involved and the type of business you own. Setup fees can vary from as little as a few hundred to as much as a few thousand.

If you’re low on budget however, setting up a high risk merchant account will inevitably cost you more than a regular merchant account – including higher credit card processing rates. However the good news is that providers that offer services for high risk merchant accounts will not require any security deposits in order to run your account.


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