Before you open a merchant account with Higher Standards, you need to assemble a few pieces of information. Your Expert Advisor can help you with all this, of course, but in general you should be prepared to provide the following:
- Physical address. Even if you’re an online business, we’ll still need an address so we can mail pertinent documents and information to you.
- Business bank account. It’s always better to have a business bank account separate from your personal accounts.
- Voided check or bank letter. To verify your bank account you’ll need to supply a blank (voided) check with your business name and address printed on it. (No starter checks, sorry.) Alernatively, you can supply a a dated bank letter with your routing and account numbers, signed by your banker.
- EIN. For tax purposes, you’ll need to supply your business’ Employer Identification Number (EIN). If you don’t have one, you’ll need to get one from the IRS.
- Business licenses, for some types of businesses.
- Articles of incorporation. Your business needs to be official in some fashion, either as an S-Corp, LLC, sole proprietorship, or partnership.
- Completed application. Yes, you need to fill in some paperwork. Your Expert Advisor will provide everything you need and help walk you through it.
- Other documents. Depending on your type of business, you may be asked for other documents, as well. Your Expert Advisor will walk you through this.
It’s not all that complicated, really. Your Higher Standards Expert Advisor and our office staff will walk you through everything you need to do. Once everything is submitted and approved, you’ll be ready to start accepting credit and debit card payments for your business! Contact us today to learn more.