Collection agencies have a rough time getting approved for a merchant account, let alone getting a good rate. Many collection agencies will apply at 3 or 4 places and get declined, then they will try to set up an account under a generic business type, or try to “fly under the radar” as a different business type. This will eventually result in the account getting shut down, and funds being held up for over 6 months.

The correct way to go about getting a merchant account for your collection agency is to apply for merchant account through a “high risk merchant services company” such as The High Risk Guys. This way, you can be forthcoming and honest about the type of business you operate. The rates may be slightly higher, but being able to process credit cards without worrying about funds being held up is well worth the additional fees.

Statistically, collection agencies have a higher rate of chargebacks, and high risk merchant providers are willing to accept a higher chargeback percentage than traditional low risk credit card processors. Our merchant advisers can talk to you in more detail about our chargeback thresholds, as well as how to reduce the number of chargebacks your collection agency gets.

Why Choose The High Risk Guys for your Collection Agency?

  • Lowest Rates Guaranteed
  • No Application or Set Up Fees
  • Accept Visa, MasterCard, Discover and ACH
  • No Reserves on Approved Credit w/ History


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