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  1. #1

    Question Do you have to be incorporated to be a approved for a merchant account?

    Any payment processor out there that accept high risk products and doesn't need you to be incorporated? For my business I really don't want to give out any more info than I have to, let alone create a company with valid address. I'm new to this stuff, if there is any way to make this all anonymous I'm all ears!

    Edited:

    Ok I'm not selling cocaine or anything, just really cautious because what I do in the states its considered illegal.
    Last edited by pk7677; 04-06-2011 at 06:05 PM.

  2. #2
    Join Date
    Mar 2010
    Location
    Florida, USA
    Posts
    186
    Not gonna happen. A merchant account is a loan product and just like any other loan, you'll need to divulge everything. No such thing as anonymity in the world of payment processing. On a personal note, why are you dealing in something tht illegal???...why not find a legit business to be in?

  3. #3
    Join Date
    Jul 2009
    Location
    Indiana
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    2,193
    A merchant account gives you the ability to charge any card at will. There is no way you'll get it without all of your info. When we got ours they even sent someone to inspect our place of business.
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  4. #4
    Join Date
    Mar 2006
    Location
    Europe
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    490

    KYC

    From a processors perspective;

    If you dont want to show us what we need for us to be compliant with the card associations rules, banking rules and international money laundering rules etc you would never get a merchant account with us.

    Doubt that most processors would and why should they?

    If you dont want to show something most likely you have something to hide.

    Simple mathematics.
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  5. #5
    Join Date
    Apr 2011
    Location
    United States
    Posts
    1

    Hello, I'm Mark

    Hello! My name is Mark Bright. This looks like a lovely website. I cannot wait to read some more.

  6. #6
    For high risks products/services with some kind of anonimity you can use payment systems, like http://www.libertyreserve.com/
    Because this kind of payment systems gives you somelevel of anonimity and payments is irreversible (this is important for high risk products).
    The main disadventage of this kind of payment systems is that you cannot fund/withdraw money to your card or bank account. You need to use exchange service.
    I think there is no real anonymous merchant accounts with direct card payments processing.

  7. #7
    Quote Originally Posted by pk7677 View Post
    Any payment processor out there that accept high risk products and doesn't need you to be incorporated? For my business I really don't want to give out any more info than I have to, let alone create a company with valid address. I'm new to this stuff, if there is any way to make this all anonymous I'm all ears!

    Edited:

    Ok I'm not selling cocaine or anything, just really cautious because what I do in the states its considered illegal.

    What are you smoking? I want some. Do you think you could obtain a mortgage, auto loan, without proving whom you are?

    You can obtain a merchan taccount as a sole prop, but, i would recommend obtaing a FEIN Number. Not difficult to obtain, just some time and paperwork.

    As someone suggested in this forum, GO LEGAL!!

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