Auto Approval Guidelines - Level 3 (MO/TO, Internet-Based)


Level 3 - 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 - A site survey and photos are NOT REQUIRED for Level 3 Merchants. EXS will be responsible for conducting a verification of the account including: telephone call to the merchant, verification that the designated checking account will accept ACH deposits and withdrawals, website registration verification, and reverse-lookups on the business and home telephone number.


  3. Marketing Materials - Internet-Based merchants need to provide a website disclosing the merchant DBA Name, address, telephone number, return policy, delivery method, and email address. Non internet-based merchants need to provide a copy of brochures, marketing materials, or advertisements showing the merchant DBA Name, address, and telephone number.
  4. Processing Statements - If the merchant is currently processing Visa/MC, we need the most recent credit card processing statement.


  5. Financial Information - We require financial information only when the Level 3 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 2 fiscal years
    2. Business Tax Return - most recent 2 fiscal years
    3. Personal Financial Statement including Statement Of Annual Income
    4. Personal Tax Return - most recent 2 calendar years


  6. EXS AUTO-APPROVAL - All Level 3 merchants using ANY credit card processing software, 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, and for merchant applications that have falsified or fictitious information.


  7. Funds Availability - Auto-Approved internet-based merchants receive their funds in 5 business days. All other merchants receive their funds in 2 business days.

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