- Are legally registered within the US. Applicants for merchant services have to be either incorporated as businesses within the state that they reside in or they have to be registered with the local municipality and obtain a "Doing Business As" (DBA) name. Individuals are not allowed to establish merchant account processing services. Foreign establishments are also excluded from obtaining US-based payment processing accounts.
- Have a physical address and a registered agent within the USA. Applicants for US merchant services need to provide available a contact person within the US and a physical office for the merchant processing bank to inspect.
- Have a bank account with a US bank. The bank account into which the merchant will have his or her funds deposited must be opened with a US bank.
Sunday, July 8, 2012
Merchant Account Qualifications
providers to ensure that all applicants: