Forum Moderators: buckworks
I'm in the process of applying for an account with WorldPay and I have a quick question to fellow uers before we complete our application.
I know that with most processors they will setup merchant accounts up to $xx,#*$! monthly processing limit without requiring extensive business documenations...etc. I know that once you request over $xx,#*$! processing limits the bank is going to want some sort of proof to backup your claim and request for high limits. I've seen these marks between $24,000 - $75,000 which is the mark where procesors want that extensive information to backup your request.
My question to you is at what point does WorldPay going to start wanting extensive documenations such as 2 years tax returns, p/l statements..etc? Can you get up to $xx,#*$! without having to send in the extra documents, what is their magic number?
Will they require the same information wheter I ask for $24,000 or $85,000?
Thanks For Your Time!
at what amount does WorldPay start wanting to see extensive business documenation to support that limit? What is the most that I should apply for without having to worry about needing extensive information to support that amount?
when you apply for worldpay they ask you to estimate your monthly turnover - then they do a risk assessment and if all looks ok, you get the account
they set a "trading limit" which isn't really a limit at all - it's a number of transactions per month that their underwriters have said is ok - if you exceed that limit, just rings a little bell at worldpay and someone takes a look at your account
but normally better to make the request before you exceed the "limit"
they won't automatically give you an increase - they'll check your account, check number of chargebacks / refunds etc etc etc
but never known anyone have any real problems with any of it
