Stripe High-Risk Payment Gateway

As a high-risk Stripe payment gateway partner, Bankcard provides all the services your business may need to accept payments, including access to advanced capabilities that will assist in your company’s growth.

high risk merchant account payment gateway

Getting started takes one minute

Bankcard was referred to me by my developer. From the jump, they were impressive. They were super responsive, they asked great questions and their solution was really robust. Also, working with Katherine and Hanna is a dream!
High risk merchant account
Emily Wallace
CEO

Stripe High-Risk Payment Gateway Overview

If your Stripe account happens to be one of the many affected by a freeze, termination, or Stripe holding funds, read on to find out what you can do to get your account back on track. For every business across every industry, a quality payment processor is a necessary tool for success.
 

Why Does Stripe Freeze or Shut Down Merchant Accounts?

  • By default, Stripe refuses processing if you have an unauthorized business.
  • If your Stripe account faces closure, you’ve likely been deemed an unauthorized or banned merchant, an eCommerce merchant requiring delivery verification, or a high-risk merchant.

Stripe can close your account without warning

  • Stripe’s reputation for terminating accounts without prior warning or explanation had led to its unfavorable reputation amongst merchants.

How to Tell if Stripe Closed Your Account

  • Stripe informs merchants of their account’s termination via an automated message.
  • There is no course of action to reclaim your account, find out why your account was suspended, or reinstate payment processing for your business. Stripe states that they respond to customers within 24 hours, but it is unlikely.

How long does Stripe normally take to pay you?

  • Contact Stripe’s customer support to inquire about your account closure.
  • If Stripe remains unwilling to reinstate your account, contact any customers who may have been affected by the termination.
  • In the meantime, quickly set up a partnership with another payment processor to continue your business operations as normal.

What is the MATCH List?

  • The Member Alert to Control High-Risk (MATCH) list refers to a list documenting high-risk businesses.
  • It’s also referred to as a Terminated Merchant File (TMF).
  • Businesses unfortunate enough to make this list are essentially blackballed by many financial institutions.
  • Once your business joins this list, removal is difficult and may complicate the operations of your business.

List of Stripe Restricted Industries & Prohibited Businesses

  • Stripe’s services are unavailable to certain countries, industries, and businesses
  • The payment service provider has a long list of prohibited practices, business models, jurisdictions, and regulated industries
  • Generally, restricted industries and prohibited businesses are as follows: Businesses: Illegal products and services infringing on intellectual property rights, Products and services deemed unfair, predatory, or deceptive, Legal services, Products or services related to firearms, explosives, and dangerous materials, Marijuana, and Tobacco
  • Industries: Financial products/services, Those regulated by the government, Pharmaceuticals and telemedicine, Tobacco

Reasons Stripe Closed Your Account

  • The reason behind a frozen or terminated Stripe account usually falls under one of two scenarios:
Too many chargebacks
  • Chargeback ratio is a metric through which financial institutions assess the risk level of businesses. If your business has a high chargeback ratio, financial institutions perceive it to be a high-risk business. Payment service providers avoid working with higher-risk businesses as it strains their relationship with financial institutions.
Complaints from customers
  • The number of complaints against your business may be cause for a restricted or terminated account.
Reputation of bad business practices
  • Stripe evaluates the financial risk of partnering with a business based on the reputation of the industry to which it belongs and its owner.
  • If a merchant were to close its Stripe account, those disputes don’t simply disappear. Stripe would be on the hook to cover any damages.
Engaging in prohibited activities
  • Read the terms and conditions before signing up for a Stripe account. Stripe lays out exactly what businesses and industries they bar from their services.
  • Even if you pass the approval process, Stripe may unexpectedly suspend or terminate your account at any time.

How Can You Start Accepting Payments After Your Stripe Account is Closed?

  • If your Stripe account is terminated or frozen, take immediate action to start processing payments again.
  • Stripe will send an email notification asserting that you have 30 days to prove that the activity resulting in your account termination is unfounded. If no agreement is met within the 30-day timeframe, Stripe may attempt to return any unused funds held in the account after deducting the associated fees.

Have a backup plan

  • If you are unable to regain access to your Stripe account, it’s time to consider other payment processing options.
  • Merchant service providers with experience servicing high-risk businesses are better equipped to deal with chargebacks, refunds, and fraud associated with higher-risk industries.

Closing Thoughts

  • Termination of your Stripe account often comes with no warning or details as to why it happened.
  • Emailing Stripe’s customer support team may prove ineffective since they rarely reverse their termination decisions.
  • Consider setting up proper credit card processing with an experienced merchant account provider.

Getting started takes one minute

Bankcard was referred to me by my developer. From the jump, they were impressive. They were super responsive, they asked great questions and their solution was really robust. Also, working with Katherine and Hanna is a dream!
High risk merchant account
Emily Wallace
CEO

Integrations

Bankcard Connect plays nice with others

Bankcard Connect integrates seamlessly with ISV software to simplify payment processing for merchants: any payment type, on any device, anywhere. 

Bankcard integrates with over 99% of the tools you are already using, including popular accounting software and e-commerce apps, regardless of your industry. Our payment services were designed to be adaptable to provide seamless integrations for our customers.

merchant account integrations c

BigCommerce
Formsite
Infusionsoft
Keap
Magento
Microsoft Dynamics
Network Solutions
SalesForce
Shopify
Volusion
Web.com
Weebly
WIX
WooCommerce
WordPress
Yola

Cart66
Checkfront
EASYCART
eShop
Event Espresso
events manager
GetShopped.org
GRAVITY
Jigoshop
Paid Memberships Pro
Shopp
SHOPPERPRESS
templatic
TheCartPress
WishList MEMBER
WooCommerce
WORDPRESS eSTORE
WP GATEWAYS
WpInvoice
wpmudev

Drupal Commerce
Ubercart

HikaShop
Miwisoft
VirtueMart

911 Software, Inc.
ACR Systems
Activant
Aldelo Systems, Inc.
Applied Micro Technology
Advanced Retail Management Solutions (ARMs)
Auto star
Cantaloupe Systems
Data Business Systems
Datacap Systems, Inc.
DataTech Corp
DataVantage
Edgil Associates
Elavon*
Epicor (CRS, NSB)
Freedom Pay
Gateway Ticketing Systems
Idalica Corp
IJN Systems
IT Retail
KWI
Main Street Softworks
MBS Textbook Exchange
Medasyst, Inc.
Microsoft
/n Software, Inc.
PC America
POSiFlex
RATEX Business Solutions
Retail Data Systems
RTL Payment Systems
ScanSource, Inc.
Sicom Systems, Inc.
Slim CD
Tempus Technologies
Tender Retail Systems
The Software Mills
Tomax Corporation
Total Computing Solutions
TouchNet Information Systems
XProtean, Inc. (C-Payment Software)
XPient Solutions
Vista Entertainment Systems

911 Software, Inc.
Data Business Systems
Dinerware
Datacap Systems, Inc.
Main Street Softworks
Menusoft Systems Corp.
Micros Systems
Midnite Express, Inc.
/n Software Inc.
NCR
onePOS.com
Ordyx
Radiant Systems
Revel Systems
Sicom Systems, Inc.
Squirrel Systems
Tempus Technologies
XPient Solutions
XProtean, Inc. (C-Payment Software)
Elavon (previously Southern DataComm and Global Card Services)

Dresser Wayne
Excentus
Fuel Links
Fiscal Systems, Inc.
Gilbarco
LOC Software
Main Street Softworks
Petro RX
PetroVend
Radiant Systems
Retalix
VeriFone Ruby System

Datacap Systems
JPMA
LOC Software
Logivision
MTX/EPS
RORC
StoreNext
Torex

911 Software, Inc.
Hotel Software Systems
Slim CD
Elavon
Tempus Technologies

Government organizations face a growing need for secure payment processing services while managing highly specific needs for content management and security. 

We can work with popular technology products government agencies prefer, like Ciber and Cubic, to create an integrated solution that meets all your needs for processing payments, managing information, and more.

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Get started today!

Instant everything. Amazing technology.
Friendly, US-based support from our headquarters in Michigan.

We partnered with Bankcard in 2017 and they've been there for us every time. Everything is super fast and I love how well they communicate with our staff. They really know their stuff, and we work in a very complex industry! My account executive knows our business inside and out.

Alexandria, CMO
High risk merchant account payment gateway

Accept Payments

Integrate with everything. Scale with confidence.

Ecommerce

Cryptocurrency Payments

Virtual Testimonials

Payment Gateways

Wire Transfers

Zero Cost Processing

Accept Checks Online

Retail POS

Online ACH Payments

Telephone Orders

Text Message Payments

EBT & SNAP Payments

Digital Wallets

Send Invoices

Recurring Payments

ATM Machines

Self Service Payments

Accept Mobile Payments

Ecommerce

Get started today.

Instant everything.
Next-generation tech.
Easy integrations.

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800-520-4488

Super-friendly, US-based support from our headquarters in Michigan.

FAQs: Table of Contents

Accepted Industries and Countries​

The industries we accept for high risk merchant accounts include, but are not limited to the below industries.

  • Adult merchant account
  • Bad credit
  • CBD
  • Credit Repair
  • MLM
  • Nutraceuticals
  • Payday loans
  • Private airlines
  • Subscriptions
  • Travel
  • Vape & eCig
  • Illegal business activity
  • Businesses without the proper license
  • Illegal drugs (CBD with less than 0.30% THC is acceptable)

Bankcard can provide merchant accounts to customers in the below countries. Kindly note that many payment solutions are regulated based on location.

  • Andorra
  • Austria
  • Bear Island 
  • Belgium
  • Bulgaria
  • Canada
  • Channel Island
  • Croatia
  • Cyprus
  • Czech Republic
  • Denmark
  • Estonia
  • Faroe Islands
  • Finland
  • France
  • Gibraltar
  • Greece
  • Greenland
  • Hungry
  • Iceland
  • Ireland
  • Isle of Man
  • Israel
  • Italy
  • Latvia
  • Liechtenstein
  • Lithuania
  • Luxembourg
  • Malta
  • Monaco
  • Germany
  • Netherlands
  • Norway
  • Portugal
  • Romania
  • San Marino
  • Slovakia
  • Slovenia
  • Spain
  • Sweden
  • Switzerland
  • Turkey
  • United Kingdom
  • United States
  • Vatican City

Being a start-up business will not hinder a business from getting approved for a merchant account. While having a processing history helps your likelihood of getting approved,  the lack of processing will not necessarily stop you from getting an approval. Consult an experienced Account Executive today to learn more. 

There are never guarantees when it comes to the approval of a merchant account. However, we do work with merchants that have low credit scores. Reach out to an Account Executive today for a consultation. 

If you’re a United States citizen applying for a merchant account for a United States registered business, a social security number is required. 

A merchant account can be labeled high risk for many reasons. You can be labeled as such due to high average tickets, being in an industry that historically has high chargebacks, or an industry that tier one banks do not support.

Applying for a merchant account

To apply for a high-risk merchant account, you need to complete our pre-qualification form and upload all required documentation. Once the pre-qualification is complete your Account Executive will locate the best placement for your account, and send you a final agreement. Once that final agreement is signed, underwriting will complete a full package review for approval. 

There is no fee to apply for a merchant services account with Bankcard. However, If you get approved with us there may be a small setup fee for your gateway account.

Square, Stripe, and Paypal are all payment facilitators and do not accept high-risk merchant accounts. Signing up with Bankcard gives you a direct merchant relationship with a sponsor bank. The approval process requires more documentation, but you’re at a significantly lower risk of getting terminated.

This depends upon how quickly you, the merchant, completes our pre-qualification form. Once we have all of your documentation, we get to work. We can typically locate placement for your merchant services account in 48 hours.  

Once you get an approval, you’ll be able to accept credit card payments within 24 business hours. 

Depending upon the program, you will receive your funds anywhere from 24 to 72 hours after the batch is settled. 

The industry type is a major determining factor when it comes to risk levels of merchant services. But, other factors such as credit, card-present vs not present, and chargeback ratios can also push an account into the high-risk category as well. 

Completing the Application

Your legal business name should match the business name on the state business registration or licensure. However, if you are a sole proprietor, your name would be the legal business name. 

If you’re not sure how much processing you’ll do, we recommend applying for $5,000 to $10,000 monthly. You don’t need to hit that number each month, but if you’re close to going over, reach out to your Account Executive for assistance. 

Your average transaction amount should be the average of all transactions you would accept with your merchant account. Your maximum transaction should be the anticipated maximum amount accepted in one transaction. If you attempt to process a transaction that is higher than the maximum amount provided, additional proof of purchase may be requested. 

You may provide personal bank statements in lieu of bank statements if your business bank account is new or does not have any activity. 

If you’re applying for a merchant account for ecommerce processing you will need a fully functional website with products or services listed with associated pricing. 

Yes, a credit check is required in order to obtain a high-risk merchant account. Once a final agreement is signed, a hard credit pull is done.  Credit scores are taken into consideration when underwriting reviews a full application for merchant services. 

If you’re a United States citizen applying for a merchant account for a business registered in the United States, your social security number will be required to apply. 

Documents

The first step to applying for a high-risk merchant account is completing the pre-qualification form. Three months bank statements, three months processing statements (if applicable), a voided check or bank letter, and driver’s license or passport will be required to apply. 

If your business does not utilize checks, we can accept a bank letter that includes your full account and routing number as well as the business or account holder’s name. The letter should be on bank letterhead, be dated within the last 30 days, and be signed by a bank representative. 

If you don’t have three months of business bank statements, don’t fret. We can accept three months’ personal bank statements from a business owner, or director. 

Bank statements show a lot about a prospective merchant, namely, processing activity, and the average monthly ending balance. If a merchant is currently processing, we want to know why they’re switching, if we know a merchant’s pain points we can find better solutions for their needs. The average monthly ending balance is also relevant to show financial stability within the business as well as validating the monthly volume requested.

If a merchant is currently processing credit card payments and successfully managing a merchant account this can increase the likelihood of getting approved. Some payment facilitators such as Paypal, Stripe, and Square might not supply monthly processing statements. Underwriting may request login credentials so they can get an overview of the processing activities. 

Equipment and Gateways

For in-person retail card acceptance, Bankcard can provide equipment that will arrive programmed and ready to accept payments. Discuss your equipment options with your experienced Account Executive.

Here at Bankcard, we do offer our own gateway solution that’s exclusive to merchants that sign up with us. Of course, if there’s a gateway you prefer we are willing to work with you as long as integration is possible. Please reach out to your dedicated Account Executive for details. 

Bankcard integrates with NMI, Authorize.net, and more. For specific gateway integration questions reach out to an experienced Account Executive. 

Your merchant account will be set up to accept Mastercard, Visa, American Express, Discover, and ATM cards. 

Load balancing is the strategy of spreading transactions over more than one MID. It’s not necessary for all high-risk accounts, but can be considered as a way to manage chargeback ratios with high-risk merchants. 

Existing Merchant Accounts

Not to worry, this number can be increased as needed. However, the bank underwriting your merchant account needs to be aware of the expected monthly volume to ensure they have capacity available for all merchants processing with that bank. 

If you go over by a small amount you might be asked for a copy of the invoice or receipt. However, if you go over the monthly limit by a large amount there is a chance your excess funds might be held temporarily. 

When it comes to high-risk accounts, banks ideally want chargeback ratios below the 3% threshold. If you can provide long term processing history the bank may take this into consideration. Lower chargeback ratios are ideal. Consult your knowledgeable Account Executive for assistance in lowering your chargeback ratio. 

Rolling reserves are a way to financially protect the processing bank from potential losses from chargebacks or refunds. Not all high-risk merchant accounts require a rolling reserve. The risk department will determine if and when a rolling reserve is required. 

Interchange fees refer to the issuing credit card brand fees such as Mastercard, Visa, Discover, and American express. These fees vary depending on the card type, American Express tends to be the most expensive card to process. Interchange rates can range from 1% to 2.5%. 

Of course! Once you’ve established a healthy processing history, you may reach out to your Account Executive for a rate review. We recommend only doing this if your processing history shows low chargeback ratios and relatively low refund activity. 

You may request an increase in your monthly volume at any time. However, it’s recommended to wait until your merchant account reflects healthy processing history as well as financial stability from your bank statements. 

Reach out to our support team, or your dedicated Account Executive for any account-related updates you may need. 

Depending on the program your merchant account fees are either taken at the beginning of each month. Some programs require daily discounts. Program details will be notated on your final agreement and if you have further questions you can always consult your Account Executive. 

ACH payments

Bankcard can assist with ACH or eCheck services. An application and approval process still applies to this service, or it can be an added service with your processing account. Reach out to your Account Executive for details. 

The approval process requires less documentation than applying for a merchant services account. And if you’re already processing with Bankcard an approval can be expedited. 

Every account is different, however, most programs allow next-day settlements for ACH transactions. 

ACH payment acceptance can be integrated into most website platforms. Reach out to a dedicated Account Executive for more information. 

Pricing and Approval

High-risk merchant accounts are priced higher than low-risk accounts because fewer banks are willing to work with businesses labeled “high risk”. Banks also need additional financial protections from loss on these accounts.  

Bankcard will always provide fair pricing based on the risk level of every merchant. And if a current processing statement is provided we’ll do everything in our power to beat the merchant’s current rates. 

While we love working with merchants that are considered high risk. There are limitations put in place by bank and card brand rules. If a merchant does not abide by the specific program rules described by the Account Executive assisting them we cannot ensure an approval.

Think of merchant accounts as a loan or a line of credit. And processing banks take on the risk of transactions getting charged back. Banks can end up liable for the actions of merchants, a problematic merchant can damage the reputation of the bank funding and processing the transactions.