Merchant account approval process time

by QwnV
8 replies
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I should have probably signed up with other merchant providers by now....

Anyway I am working with high risk products and using bigcommerce as my platform. I decided to go with Authorize.net as a gateway...they've brought the set up prices down. I am able to get set up with a gateway and merchant account.

I have been working with a rep at merchant focus, merchant focus is a reseller of authorize.net. After my initial decline with merchant focus because of my high risk product the rep(relationship manager) had me fill out an app for another merchant provider called expitrans.

I would say all of my info including app and supporting docs was submitted around october 1st in preparation for underwriting. I have kept in contact with the relationship manager throughout this time with no word of an approval. Each time he says he is keeping in contact with the bank and they should have an update soon.

I'm frustrated now, I know I shouldn't have waited this long before looking for another solution....It is going on the 2nd month of me paying a gateway fee and not being able to accept payment on my site.
#account #approval #long #merchant #taking
  • Profile picture of the author QwnV
    Anyone have advice on what possible options I have. I'm stuck, not sure if I should wait or move to another solution??
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    • Profile picture of the author Nochexman
      Those banks sure can take a long time over processing an application!

      Presumably you are based in the US?
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      • Profile picture of the author QwnV
        Yes, I am in the US.

        I actually called expitrans directly yesterday to ask about my app and they had no record of it but maybe that's because of the relationship with merchant focus. The expitrans rep apologized for the delay anyway and offered to work with me on an application directly through them. I wonder if that will mess things up with the exsisting app that's already being processed?
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  • Profile picture of the author QwnV
    If anyone can give some advice, I will be so thankful!!
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    • Profile picture of the author CobianProcessing
      Hi!

      I actually am an outside agent for Expitrans. I live closely and work in their corporate office a lot. I would love to help! Please pm me the name of the account so I can see what the hold up is! I am sorry for any inconvenience this has caused and for the delay of your processing.
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  • Profile picture of the author SergioMedeiros
    I currently work for a very well known merchant services provider I am Inside Sales for their eCommerce side. If you are interested or have any questions what so ever please shoot me a PM.
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  • Profile picture of the author SergioMedeiros
    The approval process time can take atleast 24 hours depending on the company you are using. The merchant company that I work for we approve you in less than 24 hours assuming that our underwriting team has all of the requested paperwork.

    if you are looking for a tier 1 processor I can definitely help you out. I work in the eCommerce Inside Sales group, shoot me a PM with any questions that you have.
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  • Profile picture of the author justinhannah
    What is the industry type? average sales ticket value? What country are you in?
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