Can I Get A Merchant Account Without SSN? - Shift Processing
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Is A Merchant Account Without SSN Even Possible?

merchant account without ssn

There are millions of United States residents that do not have a social security number. Of those millions, many of them own their own businesses. Can these business owners get a merchant account without ssn? With most credit card processors, probably not, but there are execptions.

Merchant Account without SSN: The Problem

Business owners that don’t have a social security number can open up a bank account, get a driver’s license, and get a business license. When it comes to getting a merchant account without social security number, it seems like an impossible task. Why all the fuss? It all comes down to two words: Risk Tolerance.

When you apply for a new personal credit card, issuing banks will check your personal credit score in order to determine if you’re a good candidate for the card. They will evaluate your credit history, credit usage and a few other things to decide if they’ll issue you a new line of credit. (Check out our friends at Credit Knocks if you need to improve your credit score. A better credit score makes it easier to get a merchant account, and they’ll show you the way.)

Many merchant processing companies have a pre-determined algorithm stating that each business is worth a set amount of money to their company. To the processor, the reward (money you pay them to accept payments) has to be worth the risk. If they decide to give a merchant account without ssn to a business owner, they may ask them to pay extra upfront or double their processing fees. It’s all about risk mitigation. They may ask for a long term contract and add in extra annual fees to make the account more valuable.

Here at Shift Processing, we don’t believe that a merchant account without ssn should cost any more than a business that has a social security number. So, what do you need to set up an account without a social security number? Here are the details to help you get started.

Steps to Getting a Merchant Account Without Social Security Number

  • Card Present Business: Card present means that 80% of the business needs to be face to face. If a business has a few transactions over the phone or on the web its ok, but that number can’t go above 20% of total sales. (Remember, phone and web sales have a higher percentage of fraud, so again, this is all about risk management.)
  • Average ticket below $2000: The risk is too great if the average ticket is too high. You can have transactions that are over $2,000 but on average they need to stay below $2,000 overall.
  • The Business owner must have a US Bank Account: Business owners must have a VISA in order to set up a US bank account. The bank account must have the business name and address on the checks to verify the account and routing numbers.
  • U.S. based business: The business needs to be located in the U.S. Proof of U.S. business may warrant a copy of a utility bill proving the location of the business
  • Copy of Business License: most states require a business to get a business or professional license. This license needs to be official and up to date.
  • Copy of Driver’s License or Passport: Either of these documents may be submitted for approval. They must be current and up to date

Merchant Account Without SSN: Summary

Make sure when you look at the many options that are available for your business, you ask these simple questions. Am I paying more for a merchant account without ssn than someone who has a social security number? Are they making me sign up for a long term contract? Do I have to pay extra fees upfront? If you don’t like the answer you receive, you’re most likely working with the wrong processing partner.

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4 comments
andy chow says August 21, 2021

Hi, I have a company and bank account I the U.S but I do have not an SSN number to set a merchant account. Can you please resolve the problems? Thank you.

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Edgar Rondon says September 30, 2021

Im working to oil & gas industry as consultans…im.needing an USD account or way to recieve my payments …above 5000$ per month …how can get a way to recieve muy payments without SSN or living outside of USA…

Reply
Serhiy says May 16, 2023

Hello. I can open account in your company without SSN / ITN with my Ukraine INN and Passport? Thank for support

Reply
Sajjad says June 18, 2023

We have an registered company in USA LLC and want a online payment gateway solutions.
Please assist us in this cause. Thanks

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