5. Can I apply for a merchant account at a bank ?
The straight out answer to this question is yes. The problem with getting a merchant account with a bank is that they have more stringent guidelines for approving a merchant account and do not generally approve new businesses. This is why it is a good idea to check one of our select 6 merchant account providers as they are more flexible when it comes to the approval process and can offer you top notch service since this is the main industry that these company service. Thus they spend more time with merchants and meeting their needs then the typical bank.
The main priority of the merchant account provider is risk. Banks will generally not approve businesses that process mail, internet, or phone orders. This leaves it to companies that are listed on this site to take care of those merchants whose business is based on the internet, or requires credit card processing for the phone or mail. Also credit card processors offer shopping carts, equipment and software for free in some instances.
