UK: 020 3289 2405;    EU/Intl: +44 20 3289 2405;    

Let our agents help you get approved faster

How to prepare and apply for a merchant account with MerchantScout

Contact MerchantScout

1. Get in Touch

Fill out the application form and let us know your basic company details and requirements. Our experts will review and advise the appropriate banking partners from our network.
Apply for a Merchant Account

2. Account Setup

Your dedicated agent will start the merchant account setup with one of our trusted banks and gateway providers. We will assist you through and negotiate with the banks for best possible rates.
Dedicated Support

3. Lifetime 24/7 Support

Even after you are successfully set up and begin processing credit cards, our agents will provide free 24/7 ongoing support for any assistance you may require.

LET US ASSIST AND BE PRE-APPROVED THE NEXT DAY.

If you have any questions or need help with preparing the documentation or filling out the application form, don't hesitate to get in touch with us. Our team of merchant account experts will gladly assist you with the entire process.
CONTACT US

Step 1: Precheck

No matter if you're applying for a direct EU/UK merchant account, international merchant account, or offshore aggregated account, the process is same. Please fill out our express application form, or download the short Precheck Form and send it us via email. This will allow our agents to start the prescreening and assessment process. With provided basic information about your company, nature of business and sales volume summary, we are able to narrow down to few acquiring banks on which your new merchant account can be placed by our opinion.

Within 1-3 business days after receiving your precheck form, we will have a good idea which banking partners are able to consider opening a merchant account for your business. Once you're pre-approved it doesn't necessarily mean guaranteed approval, but in 90% of cases it does.

Step 2: Application & Underwriting

Based on pre-approval in previous step, we can proceed with the actual application process with the banking partner or selected payment provider. In this stage you'll be asked to provide your company documentation to prove your company existence, ownership and financial information. This information allows to understand your activities and business structure, gives insight to any prior processing history and thus estimates possible risk factors. Below we go through the parts of a typical application package.

Application Form

Please download and fill out the Merchant Application Form. While filling out the application form, take note that entered information will have to correspond to provided documents. If you need any assistance we're glad to help - CONTACT US

Documents (KYC)

Along with the application form you'll be asked to provide a documentation pack for purposes of KYC (Know Your Customer) and underwriting process performed by the acquiring bank or payment provider. Please see below for the typical documents checklist. These need to be in scanned form, however some particular acquiring banks may require hardcopies to be sent by post to their branch. You can also download our Documents and Website Compliance Checklist.

Website Compliance

Every merchant accepting credit card payments through the website (as well as MOTO-only merchants) needs to present a website that is fully compliant by Visa/MC compliance guidelines. Please see below for the complete list of website requirements. Note these will have to be fully completed before you can begin taking live payments, however if your website is perhaps currently still under construction and does not include all necessary items, you can still proceed with Precheck and Application stage, by providing an access to your beta website where the underwriter can review at least basic information on your products/services.

Required Documents:
1. Certificate of Incorporation
2. Articles/Memorandum of Association
3. Appointment of Directors
4. Shareholder Registry
5. Bank Account Statement
No older than 3 months for each bank account used for settlements. Must be in the name of the contracting business name. Bank Name, Beneficiary Name, Account #, IBAN, SWIFT, Routing # should be clearly visible. Online bank screenshots are accepted, if all mentioned requirements are met.
6. Passport/ID Copy
Scanned copy of a valid ID or Passport for Ultimate Beneficial Owner and any authorized merchant account signer. Required for any owners holding more than 10% of ownership. In case of Sole Proprietorship (Sole Trader) a Passport/ID of the individual owner is required.
7. Credit Card Processing Statements
If you have been accepting credit cards before, provide the weekly/monthly statements or summary on official letter from your payment provider. Merchant name, period, count and volume sum of monthly sales, refunds and chargebacks should clearly be visible.
8. Conditional Documents
If required you may be asked for Business License (if regulated business type), Financial Statements (Balance Sheets and P&L) and Supplier Agreements.
9. Overlying Company Documents
If applying company is owned by another parent company, a set of all above documents will be required for the parent company until the Ultimate Beneficial Owner is identified.
Website Compliance:
1. Product/Service details
Your website should present the details about offered products and/or services with detailed and full pricing information.
2. Contact Information
Legal name and registered address, contact e-mail address and phone number should be clearly visible, for example on Contact Us section, or the footer of the website.
3. Terms & Conditions
4. Policies
Refund/Return Policy, Shipping Policy, and Privacy Policy are mandatory on every website. These should outline how you handle request for money back, returns, shipping and client information.
5. Credit Card Logos
Visa and MasterCard logos should be visible before or during checkout.
6. Domain Ownership
Domain WHOIS must show the applying/parent company, or the owner, as the owner of the domain. If this is not the case, you'll be asked to provide the proof of domain purchase in a form of invoice from the hosting company or screenshot from registrar.
7. Billing Descriptor
If you are accepting cards on your website, the billing descriptor must clearly be displayed during the checkout process on the payment form. For example: "You will see this charge appear on your credit card statement as [DESCRIPTOR]".

Get a quote for your business today

& be pre-approved in less than 48h!
Division of ccNetPay and Teranet d.o.o., SI company registration #3708411000, EU VAT #SI24786039
Copyright 2008-2017 Teranet d.o.o. @ All Rights Reserved
APPLY NOW GLOBAL CARD PROCESSING MERCHANT ACCOUNTS ECOMMERCE HIGH RISK PAYMENT GATEWAY MOTO / VIRTUAL TERMINAL RATES & FEES REQUIRED DOCUMENTS ABOUT US CONTACT
x
Express Application
Our staff will get back to you within 24 hours.
URL:
E-Mail:
Phone:
Monthly Volume:
Already accepting cards?