By default, banks consider MLM companies to be high risk. Contrary to what you have believed all these years, banks are less in the business of managing money than they are of managing risk. Risk to a bank is everything. Even if you have conducted business with a particular bank for an extended period of time, that bank will consider your MLM company to be high risk.
This does not mean that you cannot get a merchant account; it just means that there are certain boundaries you will need to operate within when obtaining your merchant account. The bank that you have been with all of your life may be great for your personal transactions, but might not be the best choice for your MLM venture.
Fortunately, Card Systems specializes in the procurement of merchant accounts for Multi-Level Marketing companies or high risk merchant accounts. We understand the explosive growth in these industries and we’ll make sure you are placed with the appropriate processor. We can set up an electronic funds transfer program to process transactions directly through your website or for paying your distributors electronically. We are here to steer you through the minefield of setting up a merchant account.