When applying for a merchant account, Instabill offers its merchant account application checklist, a list of documents required by our underwriting team. Knowing upfront which underwriting documents you will need to submit can expedite the process of obtaining a merchant account. Instabill underwriters accept the required documents all at once or in increments, so we can quickly and accurately match you with one of our banking partners.
The required documents on the merchant account application checklist are referred to as Know Your Customer documents, or KYC documents. We use these documents to determine a business’ risk factor, which, in turn, helps acquiring banks set merchant account fees, payout schedule and more.
Each acquiring bank and credit card processor has its own list of KYC documents. Since we have a vast network of banking partners, our list may alter slightly. In most cases, however, Instabill requires our merchants to submit the following documents.
To apply for an offshore, international or high risk merchant account, call us at 1-800-318-2713 or contact us online. Our merchant account managers are on hand to assist you with understanding which documents are required as well as any other questions throughout the application process.