Many CBD business owners want their merchant account to be approved instantly. However, it is in their best to take time and get all that’s needed right because a little mistake can cost more. Take your time to search for the right payment processor for your business. It is certain that most payment service providers know their onion and are specialized in a merchant account application to instant account approval. If you are connected to a highly placed merchant payment processor, then you have a high chance of guaranteed merchant account approval in the future.
Package your application correctly
Before you seek approval for a merchant account, it means you must have sent your application to the appropriate channel. During the application process, it is expected that the applicant (business owner) attaches relevant financial documents (bank statement, business plan, etc.) If the documents that accompany the application are packaged correctly, then there is a high tendency that it will hasten the merchant account approval. Therefore, it means subtle obedience to instruction is a surety to obtain instant merchant account approval.
High Credit Score
If you are looking for a way to get instant merchant account approval, chances are it can work for you if you have an incredibly high credit score. Ideally, a credit score of about 700 and above is usually considered excellent. A credit score signifies the credit-worthiness of your business. So, when the credit score is high, you’ll have a better chance to obtain instant approval for your merchant account.
Speak with an advisor
If you need an instant merchant account approval, then speaking with an experienced advisor is necessary. The advisor should be one with relevant experience who have handled merchant account application and approval cases before. A professional advisor can speed up the process for your business; therefore, it will result in instant merchant account approval.
Fully working online presence.
In this business category, you must ensure that your website is always up-to-date. The prices and description of your products should be displayed on your website. You should also share your website URL with previous customers, so they can drop honest review or feedback on the product you offer(ed). This will demonstrate that people can find your business online and have access to buy with one click. One of the downsides of a few CBD merchants is that the information provided on their dedicated business website is obsolete. This raises a red flag that may possibly alter the instant merchant account approval.
The duration to complete a merchant account approval differs with the individual merchant and their processing history. However, if you have the required documentation and meet the set standard, you’ll get an approval notification within 48 – 72 working hours. Let’s set the record straight for those who might be unaware. The approval for a merchant account isn’t always done instantly because it requires a lot of verification. However, you might be lucky to get yours done immediately.