Opening a merchant account requires a fairly long list of documents and financial information. In order to make the creation of new merchant accounts runs as smoothly as possible, we’ve put together this checklist. Make sure you have all these items together when you open your merchant account.

Photocopy of your Driver's License – In order to verify your identification, you should submit a copy of your driver’s license when you open a merchant account.

Voided Check – provide a voided check from your business checking account. This should be from the account into which you want the funds deposited when you process credit cards.

Merchant Account Application – Be sure to fill out all sections of your merchant account application, in order to avoid delays in approving your merchant account.

Product or Service Information – We need to know what type of business you’re in, how much you charge, and what your typical products are. You should provide a list of the products and services for which you will accept credit card payments, along with the prices for these items. If the prices are customized, you will need to at least provide a general basic price. Provide this information on a separate sheet of paper with your merchant account application. Or you can save time by providing the URL to your web site, if your web sight has this information spelled out in one place.

Business Financials – If your average ticket or your monthly volume are particularly high, we may need to see the profit & loss statement for your business. The “threshold” for this requirement may vary due to several factors, but it may be, for example, an average ticket of more than $750 or a monthly volume higher than $175,000.

Current Processing Statements - If you already have a merchant account or you currently process credit cards through another merchant account service, you can ensure easy approval by including the last three months of processing statements from your other account.

Merchant Account Articles

For new merchant accounts:
Tips on setting up your online Merchant account
Choosing an online payment gateway
Website requirements for an internet merchant account
Merchant Account Checklist
Tips on setting up a wireless Merchant
Tips for setting up a retail merchant account
Tips for setting up a phone or mail order merchant account

Getting the most out of your merchant account:
The Mechanics of Credit Card Transactions
What is Interchange and Assessments?
Assessing Charge Back Risk
Technology, Communication, and the Industry’s top equipment
Credit card terminals or software?
Merchant Account phone tips
Process Debit cards
Credit Card Processing at Ensight Merchant Services
Ensight Merchant Services Low Cost Guarantee on Credit Card
Ensight Merchant Services vs. Local Banks
How Phone Processing Works
How Retail Processing Works
How Wireless Processing Works
Credit Card Processing for Mac Users

Glossary of Terms