Some credit card processors cringe when they hear the words grant assistance merchant accounts, but not us here at Instabill. The grant assistance industry has sprung up to help befuddled consumers navigate their way through the confusing maze of government grants available to those who qualify. Using a third party to help with the grant assistance merchant account process can be a huge value add. A grant assistance company is immediately able to let the consumer know which grants are available and simplify the paperwork process, saving many a big headache.
However, over the past decade or so, this industry developed a bad reputation amongst processors. A mixture of broken promises of free money, simply taking a fee to direct a customer to a government website and false advertising has landed many in hot water.
The bad industry reputation has meant that getting grant assistance merchant accounts can often be the biggest challenge that a merchant in this space can encounter. Moreover, once a grant assistance merchant account is approved, it can be difficult to maintain. At the first whiff of a chargeback, a processor can investigate, realize that the merchant works with grants and snap the account away without a moment’s notice. It’s a story that I hear all too often.
At Instabill, we have built up a robust network of banking partners who are able to approve this industry, giving us the ability to give grant assistance merchants multiple offerings, for once allowing them to be the recipients of good financial advice. At Instabill, we do a thorough due diligence process upfront, so there are no nasty surprises after just a week or two of processing. This ensures that both the acquiring bank and merchant are 100 percent comfortable right from the boarding and throughout the life of the merchant account.