high risk merchant account

If you are planning to start your own online business, chances are you would have heard of the term high risk merchant account and how it can turn into a nightmare for all your ideas of a quick fortune in the online sector. Well, worry not. Just because you are planning to start your e-commerce portal does not mean that you would need such an account. Hence before you go about setting up your online credit card processing system, it is important to understand what we mean by “high risk”, and more importantly…would you need one?

Let us start by understanding the term. High Risk Merchant Account simply refers to a merchant account which the bank sees as a risky investment. You have to understand that every business has a certain degree of “risk” or “uncertainty” associated with it. When providing banking accounts to businesses, banks have to check the viability of the business, the securities available and how it would be able to simply “minimize” the risk involved. With online businesses, this “uncertainty” is higher than a traditional brick and mortar set up.

The primary reason for such accounts continue to be the high possibility of chargebacks on your account. On top of that, while there are many long term businesses on the internet, many “categories” of online businesses have a rather short shelf life. Essentially, what we mean by that is the businesses gain quick momentum, become popular and then before you know, they simply fade away. Also, there are other categories of business which are not essentially legit and leave a lot of grey areas for the merchant banks to meander. Since the online banking also require online credit card processing, the high possibility of fraud makes it a viable threat to the merchants. These businesses are hence looked at with more than ordinary scepticism. It’s not that you would not find a vendor – but high risk accounts would often draw a much higher interest rate.

Here are a few examples of businesses that qualify for a high risk merchant account:

Adult Entertainment
Online Gaming/ Gambling
Gun Dealers
Medical Marijuana
Travel & Reservation
Technical Support
E-Cigarettes, etc.

Apart from that, if you have your business registered outside of the USA, you directly qualify for a High Risk Merchant Account and should accordingly reach out to vendors that can provide you with the same.

Satrangi capital-The best option to finance your start up

When you have the passion to succeed in business, you need to work with the best. Satrangi is definitely the best especially when it comes to financing the business venture. This is one of the best online fundraising means that enables you to get the best out of the funding. One of the reasons why it is the best is because of the ease at which the invoices are factored in. It is very easy to factor in the invoices and so you will get the cash in a short time. The service provider here is much more efficient than any other. It is not like a bank where you will have to wait for a couple of days or even months, for approvals to be made before you get the cash. The other reason why this is the best patent market place is because of the many credible investors you will get here. This is one place where you are assured to get only the best investors in the field. You will be at ease knowing that your product is safe even when you sell or buy patents.

It is in this site that all the patents for sale are always sold. This ends up becoming an added advantage for the entrepreneurs. The other reason why this is the best option to finance your capital is the fact that you are going to get more than just finance. You are going to meet with some of the best brains when you make the choice to come here. This is one of the best public relations platforms. You are given the chance to interact with the best to improve your business. Partnership formation is also more likely in this platform. You will get the chance to form partnerships with some of the best investors that will help you scale the heights of success. If you had some cash then you can merge it up with the partners’ cash. You will also be glad to know that these partners are like no other. They are partners that are serious with taking the business to greater heights. They will share the profits as well as the losses from the business.

Satrangi has also been known for the best place to buy ideas. If you have a great idea, you can make money from it by selling it in this platform. The best part is that you can be sure you are going to get value for your money when you come here. Not all the other platforms out there can be able to offer you this chance. There are platforms that can take several years for people to even notice the wonderful ideas you have. This is because they lack the visibility that you are guaranteed at Satrangi. There are so many reasons why Satrangi is the best place for startup investors. These are some of the many advantages. You can take a look at the many reviews the platform has received over the years to get a glimpse of what you stand to gain from this platform.

Can High-Risk Driver Get Affordable Auto Insurance Coverage?

Another way to generate more income is by avoiding risky customers, and in the auto insurance case, high-risk drivers are not prospective clients in the standard market. As a matter of fact, most insurers avoid providing coverage for high-risk drivers. Their best chance to acquire coverage is from the less affordable non-standard market. Some underwriters do specialize in this market, and Good2Go Insurance is one of them.

High-risk vs. Low-risk Drivers.

Every insurance company has their formula to classify each potential customer. Low-risk classification is for drivers with clean driving records, zero insurance lapses, excellent credit score, and those who always pay their premiums on time. Some variables including age, homeownership, profession, marital status and address also play their roles in the classification process. High-risk drivers are risky customers because of existing tickets for major traffic violations on their driving records, for examples DUI and reckless driving. Involvement in accidents causing severe injuries and death are a serious red mark, too. Insurance companies that specialize in the non-standard market, including Good to Go Auto Insurance, have more flexible rules for classification, and it does not matter if you’ve crashed your vehicle in the past.

Getting Affordable Coverage.

Every state has a minimum auto coverage requirement. All drivers must include the minimum requirement in their insurance policies. The rules are different from state to state, so you may need to check with the local DMV regarding this rule. Many high-risk drivers purchase only the minimum coverage requirement to avoid spending too much on insurance. However, being a legal driver does not always mean that you are well-protected. Optional coverage such as Comprehensive and Collision are useful and often necessary in many situations. When you crash your vehicle to your neighbor’s fence, for example, Collision Coverage kicks in to give payout. Some high-risk insurers also provide optional coverage; Good 2 Go Insurance offers both Comprehensive and Collision as well.

Just like purchasing home appliances or furniture, it is important to compare prices between many different sellers. When it comes to insurance, you can ask for quotes from various companies and compare the prices. Nowadays, insurers allow everyone to request a quote via Internet. A quote is like an estimate that tells you how much you can expect to spend for the coverage. Insurance companies often provide discounts to help reduce premium. Take the deductions into account to get a more accurate estimation. In the middle of a fierce competition in the market, many underwriters, such as Good2Go Insurance, offer many discounts to draw potential customers.

Typical auto insurance discounts.

Although the amount of savings is different between companies, there are some common types of cuts in all of them. Put in mind that the following discounts are not unique to Good to Go Auto Insurance or any other underwriter.

Defensive Driving Course: for high-risk drivers, taking defensive driving course shows your good intentions to avoid involvement in accidents in the future and not repeat the same traffic violation. Insurers often give discounts for every driver who completes this course.
Multiple Vehicles: insuring two or more vehicles with the same company may grant you significant savings.
Good Students: if you are still a student, you have a big chance of getting auto insurance discounts if you have good grades.
All those three discounts are available from Good 2 Go Insurance, but other companies may offer similar savings in different names. Other common discounts include homeownership, safety devices, and always one-time premium payment.

Payment Options.

To manage your expense better, ask your insurance agent about possible payment options. They are not available from all insurance companies, but at least an underwriter, Good to Go Auto Insurance, has three options available including Monthly Installment Plan, Quarterly Installment Plan, and Annual Up-Front. All payment plans are for one-term policy or one year. Other underwriters may provide similar offers but in different forms. Insurance coverage from the non-standard market is more expensive than the standard market. Payment options are helpful to keep every expense more manageable.

Revoking high-risk label.

A different ticket affects driving records in a different way. A minor violation is revocable by paying fines, and the tickets will disappear from your record. A major breach like DUI is harder to revoke, and it stays on your record for several years. High-risk label does not stay forever. When the time comes, driving records will be clean. When you are still high-risk, chances are you need to purchase insurance from the non-standard market, for instance, Good2Go Insurance. After you revoke the high-risk label, you can buy insurance from the standard market again.

Complying with state’s regulation.

Before purchasing coverage from any company, please make sure that the policy includes at least the minimum coverage requirements according to your state’s law. Some companies do not provide services or sell insurance in all states in the country. Take Good2Go Insurance, for example, the company sells insurance policies only in some states, but it works with a network of underwriters to cover all states.