Have You Applied for a CBD Merchant Account with Instabill Yet?

The popularity of CBD oil is growing. This compound is derived from hemp plants. It offers anti-anxiety and anti-inflammatory properties that make it ideal for treating a wide range of conditions. It doesn’t contain large quantities of THC, the psychoactive substance found in marijuana.

Despite its medicinal focus, CBD merchants are still considered high risk by financial institutions. That is because it is made from hemp plants. The possession and sale of such plants is still illegal at the Federal level which makes some banks nervous about providing services to businesses who sell CBD products. The good news is that Instabill offers a viable solution that’s affordable and secure.

Why Use Instabill for Your High-Risk Merchant Account?

Instabill understands the challenges and is prepared to provide financial services that cater to the needs of high-risk businesses. Payment processing is a normal part of any company. When you limit the ways you can accept payments, you also limit your customer base. Expand your capabilities, and you’ll attract more business.

Many companies already trust Instabill for their merchant account services. The platform was named among the best CBD oil merchant account providers by industry analyst CardPaymentOptions.com. Other experts have praised Instabill for providing one of the best solutions when working with offshore and high-risk merchant account providers.

Instabill provides many money-saving benefits, including:

  • Expands your ability to accept different forms of payment
  • Includes advanced fraud protection to increase security
  • Includes chargeback protection to minimize loss
  • Experience working with CBD businesses

How Do I Apply for a CBD Merchant Account with Instabill?

The first step to obtaining your CBD merchant account is to talk with a representative. Get in touch with us, and we’ll get the process started. Instabill provides services to e-commerce businesses only at this time. You will need:

  • Bank statements for your business from the previous 4 to 6 months
  • To bring in at least $1,500 per week in payment processing
  • If you are a startup, you will be required to pass a vetting process

Instabill offers competitive rates to help you keep more of your hard-earned profits. Merchant account fees will vary based on factors relating to your business. Items considered include your processing history, projected sales volume, and type of industry. The fees usually include a per-transaction fee, chargeback fee, refund fee, monthly gateway fee, monthly statement fee, and a merchant discount fee. Speak to a representative to find out what fees will apply to your CBD merchant account.

When Will I Know If I Am Approved for My CBD Merchant Account?

The time required for approval can vary. Most have a response and credit card processing setup within 5 to 15 days when all supporting documentation is supplied. Get started now so you can complete setup as soon as possible. It is possible for CBD businesses to get approved for merchant accounts. Contact us today to learn more.

Yes, You Can Get a Merchant Account for Your Kratom Business

Kratom is one of many industries that face difficulties when it comes to obtaining business financial services. Even though this tropical tree can be used to help treat opioid withdraw, chronic pain, and mood disorders, it is still under scrutiny from the FDA. As a result, kratom businesses are considered a high risk by banks. The good news is that there are options available that will allow you to operate your business legally and effectively.

Opening Your Kratom Merchant Account

We work with Instabill to help you find the best financial solution for your Kratom business. Instabill maintains a network of acquiring offshore banks as well as other financial solutions that cater to high risk industries. Applying for an offshore Kratom merchant account will require three to six months of payment processing statements that show total sales, company name, chargebacks, and refunds. You will also need to provide three months’ worth of banking statements for your business.

Only offshore solutions are offered at this time. No domestic payment processing is available for Kratom. Instabill provides all clients with a dedicated account manager. They can provide information and updates on financial products and recommend the best option for you.

How Long Does It Take to Get Approval for a Merchant Account?

The length of time required to establish your account will vary. Factors like payment processing history, country registration, and financial details can affect the process.

Once Instabill receives all supporting documentation and related material, your credit card processing service can be set up within 10 to 14 days. Kratom sellers should get started now to begin the process and take the next step in growing their business.

Benefits of Opening Your Kratom Merchant Account

Attempting to open a merchant account can be intimidating for some business owners. The good news is that Instabill makes it as easy as possible. Why should you consider applying today?

  • Firms Understand the Risks of Your Industry – High risk merchant account providers understand the risk that comes with this type of financial solution. While other firms may be quick to close your account due to excessive chargebacks, high risk merchant accounts are designed to deal with this kind of problem.
  • Improved Security Strategies Are Already in Place – Due to the nature of the account, improved security strategies are put in place. These methods are often capable of identifying theft early in the transaction. This will also defend your business from potential scammers.
  • Your Opportunity to Expand Your Reach – Offering more payment options like credit card processing is a great way to attract new customers. You can tap into markets you may be missing now and make your business more attractive to more consumers. It also strengthens your company’s overall reputation within your community.

Financial services are available to the kratom industry. Contact us now to learn how you can get a high risk merchant account for your business.