Merchant Account Limits
The phrase merchant account limits is a common term among merchants. There are several meanings that the word “limit” denotes when referring to high risk merchant accounts.
From the number of merchant accounts one entrepreneur can have to the number of transactions a company can process, there are profitable solutions. This article will cover the differences in terminology regarding merchant accounts and limits.
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Merchant Account Transaction Limits
In order to process payments, a high risk business needs a high risk merchant account. Most new merchant accounts have average transaction limits. This transaction limit can range from $2,000 – $20,000.
Increasing Merchant Transaction Limits
When understanding e-commerce transaction limits, the main takeaway is that you can leverage your business’s sales volume to increase your limit.
Contact your merchant account provider and share evidence of increased volume to increase your merchant account limit. This is where experienced payment experts, like Signature Payments, play an important role.
Limits on Merchant Accounts
A business owner can spread sales volume over several entities with multiple merchant accounts. This can allow the merchant to avoid the limit on transactions and potentially limit the number of chargebacks.
Dividing sales over multiple businesses means chargebacks would also be divided between accounts. As a result, the business is more likely to keep sustainable high risk payment processing rather than being shut down by the processor.
Accept More Payments with Multiple Merchant Accounts
Given the different limitations on merchant account transactions, several options exist to sustain payment processing. At the beginning of a merchant’s journey in business, cash flow can be a good indicator of success. However, if too much cash flows in, payments can suddenly stop processing. But how could a payment processor stop transactions if a merchant is more successful?
The answer is found within merchant account processing limits. Banks and financial institutions must protect themselves from threats of fraud. These various attempts to scam or launder money are some of the many reasons why the payment processing industry has to be cautious. As a result, acquiring banks closely monitor and regulate the number of transactions one merchant account can process.
How To Open Several Processing Accounts
If you’re a merchant who has been limited by the number of transactions your business is allowed, consider opening several payment processing accounts. Not only can you open another merchant account, but you can also increase your processing limits. As a result, your business makes more money.
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