Your merchant account is very easy and simple to establish. They are also a very important aspect of your business. Most merchant account providers will have the forms that you will need to complete in order to obtain your merchant account. Others may even send a representative to you business’s location. Here is a list of items you will need to be able to apply for your merchant account.

Your Business Checking Account: This is an easy one for most companies. If you are just starting your business then it is as simple as going to your bank and establishing a checking account. Your local bank may offer merchant accounts as well.

A Voided Check: The voided check will be used to provide a sample to the merchant bank so the bank knows where to deposit the funds from your credit card processing transactions.

Business Licenses: You will need to provide eveidence that you are infact, a “real business”. A copy of your license will usually be sufficient.

If applicable - Your Website Address: The would only be necessisary if you are planning on selling goods or services thorugh the internet. You will need to supply the bank with your URL.

A copy of your Return Policy: This is simply a description of your return policy. If your sales are final then you should simply state that in your policy. If you have a 30 day money back guarantee then the details as to what qualifies will need to be disclosed. Many place post their return policy on receipts and others only have it posted in the stores location. If you are a web based business than supply the merchant bank with the a copy from the web sites of your refund policy.

A couple Trade References: Trade references are the relationships that you have already establishedwith various vendors. What the processor is looking for is evidence that you pay your business related bills on time. The longer you have done business with a supplier / vendor the better, but if you are just establishing a business you may need to have your personal finances weigh in on any decisions.

Tax Forms: A merchant bank may also ask for copies of your previous tax forms to establish the income of your business. This will guide them as to how many sales and possible amounts that will be used through your merchant accounts.

This list is the most commonly requested items by processing banks when setting up your merchant account, but other pieces of information may be requested by the bank. You will need to know the estimated number of credit card transactions. Remember that this is an estimate and adjustments can be made once your merchant account is established. In no time you will be accepting charges for your goods.