Get rid of all your payment processing roadblocks with HMS’ specialized merchant accounts for document preparation companies. Our experienced team has solutions for even the most difficult situations, like a document preparation merchant account. Trust us with your business’s continuity and subscription payments.

Who Are Document Preparation Merchants?

Loan modification, debt consolidation, debt relief student loans, and loan rate reductions require a lot of paperwork. The amount of documentation required by the application process is overwhelming for most consumers who may lack the time or skills to prepare such documents appropriately. This is where document preparation merchants come into play. These companies understand how to fill out all the necessary forms properly.

People go to doc prep merchants so that they can have their papers done accurately, which will relieve them from the stress and misunderstandings they often face when going through complex financial systems requirements. Whether this involves gathering income verification forms for a student loan application or organizing financial statements for debt consolidation, doc prep merchants help people simplify their financial lives without making costly mistakes along the way.

The Need for a Document Preparation Merchant Account

Each business that receives credit card payments has a merchant account. This account provides an in-person or online terminal where customers enter card info to buy something from your business. The payment processor that supplies the account is backed by an acquiring bank, which then backs the transactions.

Popular merchant account providers can be considered an option, but unfortunately, most well-known payment processors don’t work with high-risk industries like document preparation. So, businesses in such industries must find alternatives for their merchant accounts to be able to continue processing card payments as easily as possible.

This is where HMS comes in – we specialize in merchant accounts for document preparation companies and other high-risk businesses. If you’ve been turned down for payment processing, you can count on HMS to have a tailored solution just for you. Our team of experts has the knowledge and understanding of your industry and the challenges you face.

Which means we can approve practically every business type out there, including those who have been shut down by their previous processor. We are dedicated to finding a way so that you can build your business with confidence, even though your industry is known for its complexities. We offer ongoing support and assistance to our valued customers so they know they’re never alone.

Why Document Preparation Merchants Considered High-Risk?

Doc prep merchants face high-risk classifications from banks and processors for two central reasons:

• Primarily, consumers seeking services like student loan relief or debt consolidation often struggle financially. Desperate for aid, some wrongly dispute charges for the services rendered. It is a deceitful practice dubbed “friendly fraud.” This threatens merchants with lost revenue and credibility.
• Merchants frequently take payments by phone, elevating the chargeback likelihood over traditional transactions. The higher dispute ratios tied to these telephone orders further make the merchant a high-risk merchant.

These two factors account for the majority of traditional payment processors’ and banks’ refusals to offer business accounts to the document preparation industry as a whole. Nonetheless, since its founding, HMS has taken pride in providing merchant services for document preparation. With our combination of fraud and chargeback fighting technologies and our outstanding partnerships with credit card processors and banks, we are uniquely positioned to provide doc prep merchants with affordable, dependable merchant accounts.

Understanding fully well how hard it is for doc prep merchants to access payment processing solutions, we have custom-made our services to suit their needs while covering all aspects like regulatory and security concerns. Therefore, let us be your partner in payment processing for the doc prep industry. We are eager to team up with you and ensure that your business growth journey in this regard covers every milestone.

Selecting the Right Merchant Account for the Document Preparation Industry

a. Examine the terms of services diligently to identify any unfavorable terms or hidden fees. It’s crucial not to overlook reading through these terms before endorsing any documents.

b. Seek expertise in the field. Opt for a trustworthy merchant account provider specializing in the high-risk industry to secure the best deal for your business.

Host Merchant Services (HMS) stands out as a reputable payment processor, recognized as the top high-risk credit card processor in the US, with an A rating from the BBB. HMS offers merchant accounts tailored to businesses providing various document preparation services. The team at HMS engages with each business owner, gaining a deep understanding of their specific needs to deliver the right merchant services for their unique requirements.

c. Prepare for the screening process when seeking a merchant services provider. Legitimate providers typically require businesses to undergo this process to assess their credibility. To ensure a smooth experience, gather essential documents such as financial statements, business documents, processing statements, and a cover letter for submission.

For swift and easy approval of your document preparation merchant account, opt for a provider well-versed in every aspect of the industry. Only a merchant account provider, like Host Merchant Services, with a comprehensive understanding of state legislation and restrictions impacting your business, can assist you in securing the best solutions for your business needs.

Types of Document Preparation Services HMS Covers

At Host Merchant Services, we take pride in our high-quality merchant account services for many different types of Document Preparation Merchants. For example, you can trust us to help you with your:

• Debt Document Preparation Services,
• Business Requirement Document Services,
• Loan Document Preparation Services,
• Loan Modification Document Preparation Services,
• Business Reports,
• Business Financial Plans Services,
• Legal documents like contracts, notices, and affidavits merchants Services.

These kinds of documents are used to outline agreements between parties in a number of different industries. All these types, among many others, exist under our umbrella. At Host Merchant Services, we’re excited about the opportunity to help you with the payment processing of your document preparation business.

Requirements to Get a Merchant Account

Once you land on the credit card processing company for your doc prep service, it’s time to complete the application process. When you get here, you’ll be asked to provide:

• EIN Tax ID
• Social security number,
• Processing volume
• A copy of the owner’s ID or driver’s license,
• Voided business checks,
• Recent credit card processing statements, if any.

These documents will help you set up a payment gateway that caters to document preparation businesses. With this step done, there’s no need to worry about the safety of your payments since they are in good hands with a reputable and trustworthy doc prep credit card processor like HMS.

Do You Require A Document Preparation Merchant Service?

Host Merchant Services (HMS) is a number one solution for document preparation merchants who face unique challenges due to the nature of their high-risk industry. We help businesses like yours with a fast approval process, versatile payment acceptance options, seamless integrations, and dedicated account management to ensure business continuity in loan modifications and debt relief services.

Document preparation services are often considered high risk due to “friendly fraud” and elevated chargeback risks, leading most standard processors to decline these merchants. Our experience in this industry, plus our banking relationships and advanced fraud prevention systems, make us a reliable, low-cost solution that covers all regulatory and security concerns. We’re here to be your trusted partner as you manage the complexities of payment processing for document preparation services. Set up a document preparation merchant account with us in simple steps.

Frequently Asked Questions