When it comes to choosing a high-risk merchant account instant approval service provider, you might be tempted by claims of "guaranteed approval" from high-risk merchant providers. To determine whether you should be swayed by these claims, let's take a closer look at what instant approval means and how it could impact your business.

What is Instant Approval for merchant account?

In reality, there isn’t such a thing as truly instant approval for any type of merchant services account. Actually it generally takes more time to get the last endorsement for a high-risk merchant account than it does for a low-risk business. Traditional low-risk businesses can expect to be approved within a couple of days. On the other hand, high-risk merchant accounts typically need a minimum of three to five business days to be approved. You should also take into account that you’ll have to submit essentially more documentation and wait far longer for this process to be completed than a low-risk business would.

How could it be That Some Providers Claim to Provide Instant Approval?

If there is nothing of the sort as instant approval, then how is it that some providers claim to offer instant approval? What these providers letting you know is that approval for your merchant account is actually a two-step process.

To start with, you should be approved by your merchant account provider. Second, you must be approved by the procuring bank or backend processor that is actually going to underwrite your account and process your transactions. The second step of the approval process is where the delays and challenges become possibly the most important factor.

Each processor has its own rules for deciding if you're high-risk, and their own documentation requirements you’ll need to meet before they’ll even consider approving you for an account. While your merchant account provider is exceptionally energetic to favor your account, your processor has every reason in the world to not approve it.

Fortunately, 5 Star Processing is a really good merchant account providers out there who expertise in getting a high-risk merchant account instant approval UK, and they’ll work with you to get your paperwork in order and find a bank that can instant approve you for an account.

Can I Speed Up a High-Risk Merchant Account Instant Approval Process?

To speed up the instant approval process for merchant account, you should work with a creditable merchant account provider that expertise in high-risk merchant account processing. Working with a partner that has a proven track record and experience in your business will assist to expedite the signup and instant approval process. You should also make sure that all paperwork is in proper order. You’ll need to provide more information when applying for a merchant account. If you can provide all of this information with your initial application, it will save a precious amount of time during the approval process.

Following are the documentation you may be asked to provide include:

  • Completed Merchant Account Application
  • Résumé or CV of the business owner
  • Photo Identification or Passport
  • Business Plan
  • Personal Utility Bill
  • Processing statements for the last three months
  • Xeroxes of supplier’s agreements
  • Xeroxes of your personal banking statements
  • Personal reference letter from your bank
  • Xeroxes of your business bank account statements
  • Screenshot of your business website’s home page

It is also essential, to be honest with your merchant provider about all aspects of your business. Merchants are often tempted to misrepresent facts that might lead to them being disapproved of an account. In many cases, you may still be entitled to account approval in spite of a less-than-ideal track record, especially when working with a merchant service provided that has experience with high-risk businesses. It is best; to be honest in your application process, as being misrepresenting facts about your business will almost always result in disqualification or account cancellation.

To get more information about high-risk merchant accounts and speed up your approval process, contact 5 Star Processing.


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Visit 5 Star Processing to get an instant approval for your high-risk merchant account.