Auto Approval Guidelines - Level 2 (Retail/Service/Trade Show)


Level 2 - Documentation Requirements

  1. Completed Merchant Application


    1. Length of current ownership
    2. Physical address of business location (P.O. Box is not sufficient)
    3. Federal Tax ID (Social Security Number is OK for Sole Proprietorships)
    4. Principal/Owner information and signature representing a minimum of 40% of the ownership of the company.
    5. Complete and accurate description of the products/services sold.
    6. Complete and accurate description of method of sales (Retail, Mail Order, Phone Order, etc . . )
    7. Annual Volume and average sale amount
    8. Kiosks and Flea Market Merchants need to provide a lease agreement for at least 6 months.
    9. Voided Check from a checking account that is able to receive ACH credits and debits in the business DBA name listed on the Merchant Agreement. Starter checks require a verification telephone call by a EXS underwriter, or a letter from the bank.
    10. Fully completed and properly signed "Schedule of Fees".
    11. Fully completed "Business Description Profile".
    12. Fully completed "Cover Sheet" describing the setup instructions.


  2. Site Survey - You can provide a site survey and photos. Or, in lieu of conducting a site survey and providing photos, we need you to provide a minimum of ANY ONE of the following items (in order of effectiveness):


    1. Credit Card Processing Statements (if applicable)
    2. Business License/Fictitious DBA Name Filing/Sales Tax License
    3. Utility Bill
    4. Yellow Page Advertisement
    5. Black Book EXACT match - dba Name, Location Address & Business lLocation Phone#


  3. Processing Statements - If the merchant is currently processing Visa/MC, we need the most recent credit card processing statement.


  4. Financial Information - We require financial information only when the Level 2 merchant is processing over $120K/year ($10K per month). The following is the order of effectiveness for financial information - (a) being the most effective:


    1. Business Balance Sheet & Income Statement - most recent fiscal year
    2. Business Tax Return - most recent fiscal year
    3. Personal Financial Statement including Statement Of Annual Income
    4. Personal Tax Return - most recent calendar year


  5. EXS AUTO-APPROVAL - All Level 2 merchants with less than $10,000/month (Visa/MC processing volume), and less than a $300 average ticket are AUTO-APPROVED. The only exceptions are for merchants in a current bankruptcy that has not been discharged for a minimum of six months, for merchants on Visa/MC's CTMF File, for merchant applications that have falsified or fictitious information, and for merchants selling computer hardware products.


  6. Funds Availability - Merchants receive their funds in 2 business days.


  7. If the type of business is unclear, you may be asked to supply a Business Description Profile and/or marketing materials / invoices that explain what is being sold and how.

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