Instead of a voided check please reach out to your local banker and ask for a bank letter with the following:

• Letter should be on bank letterhead or form
• Full name on account (company name if it’s a business account)
• Full routing number
• Full account number
  Signed and stamped by banker (include the banker’s business card if unstamped)

If your banker is unable to provide a bank letter, you may be able to submit alternative documents such as recent personal or business bank statements, credit card statements, or utility bills. These documents should display your name and address.

If you’re a new business without company bank statements, you can submit personal bank statements, credit card statements, or utility bills. These documents should show your name and address.

Bank statements help us assess your financial stability and business activity. This information helps us determine your processing limits and risk assessment.

Having current processing statements for another business can actually strengthen your application. It shows a history of processing transactions and can help determine suitable processing limits.

The approval process typically takes 1-2 business days. However, in some cases, it may take longer depending on the complexity of your application and the required documentation.

Several factors can contribute to a high-risk designation, including industry type, chargeback history, and the nature of your business. High-risk businesses often require additional documentation and may be subject to higher fees.

Monthly volume limits are set to manage risk and ensure smooth processing. These limits are based on factors such as your business history, financial stability, and processing history.

If you’re a new business, it’s best to start with a conservative processing limit and increase it as your business grows. You can always request a higher limit once you have a proven track record.

Exceeding your processing limit may result in declined transactions or temporary account suspension. To avoid this, it’s important to monitor your processing volume and request a higher limit if needed.

You can typically request a higher processing limit after a few months of consistent, low-risk processing. To increase your limit, you may need to provide additional documentation, such as recent bank statements or tax returns.

Credit checks help assess your financial reliability and risk profile. A good credit score can help you qualify for better terms and higher processing limits.

An average ticket refers to the average dollar amount of a transaction. High-ticket transactions are typically larger purchases. Understanding your average ticket size can help determine appropriate processing limits.

For a sole proprietorship, your legal name is typically your full name as it appears on your government-issued ID.

Business accounts require specific documentation and verification processes. Personal checks are not typically accepted for business applications.

A low chargeback ratio is ideal. Generally, a chargeback ratio below 1% is considered acceptable. However, this can vary depending on the industry and processor.