A Complete Guide to High Volume Merchant Accounts

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You don’t often hear the term high volume merchant account. Instead, the term “high-risk merchant account” is a much more common and popular term. In this article, we have compiled all the basics, essentials and necessary details of high volume accounts, just so that you don’t have to worry too much the next time you come across this term. To begin with, let’s start with the basics:

What Is a High Volume Merchant Account?

A high volume merchant account actually refers to the accounts that deal with a large number of transactions and payments that are processed on a monthly basis. This term is used by and for merchants who process large volumes of transactions each month and use such accounts to facilitate their payment processing.

Why Do Merchants Need High Volume Accounts?

For merchants who do not have high volume merchant accounts, it can be difficult to process certain transactions that are over their payment processing limits. In such cases, account holders often find their payments being held or declined. This is why business owners who tend to deal with large transactions need high volume merchant accounts.

What Do You Consider to Be “High Volume”?

For anyone wondering what exactly defines high volume, it is when a merchant’s transactions exceed the average limit, which can be anywhere from $2000 to $10000, depending upon the merchant’s specific account type. Therefore, high volume is essentially anything that exceeds your prearranged transaction limit.

What Are the Benefits of a High Volume Merchant Account?

High volume merchant accounts offer a wide range of benefits and advantages. For example, with such accounts, a merchant’s transactions and currency volume are safe. Business expansion also becomes easier and more convenient. Moreover, with such accounts, service providers offer better deals and higher security measures, thus ensuring that the merchants get the most out of these accounts. Processing discounts and saving options are added perks for high volume merchant account holders.

Are High Volume and High-Risk Merchant Accounts Any Different?

Perhaps the most commonly confused terms in the merchant processing industry are these two. High volume and high-risk merchant accounts are very different in terms of both function and procedures. High volume accounts need the applicant to prove their credibility and a validated credit card history. These measures help assure the service provider that the merchant’s business is genuine and well established. High-risk accounts, on the other hand, deal with businesses and companies with a bad credit history, which is why they are named as such.

What Kind of Cards Are Functional With High Volume Merchant Accounts?

High volume merchant account holders have similar services to regular account holders, which means that they can use all standard cards that are globally accepted, such as Visa, MasterCard, American Express, etc.

For everyone who was struggling with the concepts and technicalities of high volume merchant accounts, we hope this article helped you understand this term better.