Debt Consolidation Merchant Accounts

Every year, consumer debt rises into the trillions. People pay off one credit card using another and find themselves in so deep that filing bankruptcy feels like their only option. As a debt consolidation merchant, you help give debt-ridden consumers their lives back. Instead of paying several loans and credit card bills, your customers can combine all of their debt into one smaller, more manageable monthly payment. With debt consolidation merchant accounts, you can offer your customers the option to make payments online, through the mail, or over the telephone.

Why do banks consider debt consolidation merchants high risk?

The most common answer is this: When a customer isn't present to sign for his or her purchase--whether it is by credit card, debit card, or check--that automatically puts the business at a higher risk of fraud. However, there are several other factors that come into play when determining if a business is high risk:

• People who require debt consolidation services struggled to pay their bills, and banks worry they may struggle to pay you too.
• If you're a start-up company, you may have little or no payment processing history.
• Your business may have grown from small to medium or high volume.
• You may process large ticket transactions.

Instabill's Solution for Debt Consolidation Merchant Accounts

Here at Instabill, we make getting a high risk merchant account simple. For 10+ years, we've been building relationships with an established network of offshore acquiring banks. Our banks have liberal underwriting policies--meaning their approval rate is much higher than traditional, domestic banks. With a high risk or offshore merchant account from Instabill, you'll get:

• No application fee
• No volume caps
• Multi-currency processing
• Low fees

ACH Processing for Debt Consolidation Merchants

When you're trying to help someone get out of credit card debt, the last thing you want is for him or her to pay you with another credit card. Already built into our merchant accounts, we offer ACH payment processing for electronic checks. Short for Automated Clearing House, ACH payment processing allows merchants to process checks in large batches. Benefits of accepting electronic checks include:

• Eliminating envelopes and postage, saving customers money
• Quick access to funds, allowing you to process within hours
• Setting up recurring billing payments

How can I apply for an Instabill debt consolidation merchant account?

Sign up online or contact one of our expert merchant account managers today for an application. Once we receive your completed application and required documents, we'll match you with one of our trusted banking partners and send them your request. We generally get an answer from our banks within three business days, and you can start processing payments as quick as 24-48 hours once you've read and signed the bank's contract.

SIGN UP TODAY!

To learn more about Instabill's debt consolidation merchant accounts, call us toll-free at +1 800-318-2713.