we'll explore the factors that may contribute to a business being considered high-risk and how you can avoid being mislabeled as such.

Banks don't always understand the intricacies of your business. Cathedral Payments offers dedicated account support from the get-go.

What happens when Square or Stripe freeze or terminate your account?

Starting up a new business is an exciting time, but it requires a lot of planning. One of the things you’ll need to get sorted before the grand opening is your merchant account. Without one, you won’t be able to accept card payments from customers.

There are certain sectors, businesses, and even individual merchants that payment processors deem to be high-risk. Unfortunately, this makes it harder to find banks that will provide merchant accounts.

All merchants can be broadly broken down into three different categories. These categories are low, medium and high risk. The category risk they are defined in is down to the industry they operate in.

A high-risk merchant account is a bank account designed for companies that are in the high-risk space. Banks have ranging criteria, but they all consider potential risks and take them into consideration when granting an applicant’s application.