What Documents Do You Need for a High-Risk Merchant Account Application?

Complete High-Risk Merchant Account Application Checklist

Use this checklist to prepare your application. Having everything ready before you apply significantly speeds up approval and increases your chances of success.

✅ Category 1: Company Documentation

• ☐ Certificate of Incorporation (Companies House registration)
• ☐ Company registration number
• ☐ Registered office address proof
• ☐ Articles of Association
• ☐ Shareholder register (if multiple shareholders)
• ☐ Business license (if required for your industry)
• ☐ Trading name documentation (if different from registered name)

For sole traders: Self-assessment tax return, UTR number, proof of trading address

✅ Category 2: Director/Owner Identification

• ☐ Valid passport or UK driving license (all directors and beneficial owners)
• ☐ Proof of address within 3 months (utility bill, bank statement, council tax bill)
• ☐ National Insurance number
• ☐ CV/Resume (particularly important for new businesses)
• ☐ Credit check authorization form (signed)
• ☐ Proof of identity for any shareholder owning 25% or more

Important: All directors must provide ID, not just the main contact person.

✅ Category 3: Banking & Financial Information

• ☐ UK business bank account details (sort code and account number)
• ☐ 6 months business bank statements (for existing businesses)
• ☐ Previous payment processing statements (if currently or previously accepted cards)
• ☐ Financial projections for next 12 months (for new businesses)
• ☐ VAT registration certificate (if VAT registered)
• ☐ Most recent accounts or tax returns (for established businesses)
• ☐ Proof of funds/capital (if required for your sector)

Processing history note: If you’ve processed payments before, include statements showing transaction volumes, chargeback ratios, and any account issues.

✅ Category 4: Website & Compliance

Your website must be live, functional, and compliant before applying:

• ☐ Live, fully functional website (not “under construction”)
• ☐ Clear product or service descriptions with pricing
• ☐ Transparent pricing (no hidden charges)
• ☐ Comprehensive Terms & Conditions page
• ☐ GDPR-compliant Privacy Policy
• ☐ Clear Refund and Returns policy
• ☐ Complete contact information (registered address, phone, email)
• ☐ Delivery or fulfillment timescales clearly stated
• ☐ Customer support information and processes
• ☐ About Us page with company information
• ☐ SSL certificate installed (https:// not http://)
• ☐ Professional design (mobile-responsive)

Website red flags to avoid: Aggressive marketing claims, unrealistic guarantees, poor grammar/spelling, broken links, missing legal pages, no contact details.

✅ Category 5: Processing Information

• ☐ Estimated monthly processing volume (be realistic)
• ☐ Average transaction value
• ☐ Highest anticipated single transaction
• ☐ Percentage of card-not-present vs card-present transactions
• ☐ Geographic breakdown of customers (UK, EU, rest of world)
• ☐ Delivery timescales (immediate, 1-7 days, 7-30 days, 30+ days)
• ☐ Refund rate expectations
• ☐ Customer acquisition methods (organic, paid ads, affiliates)

Industry-Specific Documentation Requirements

Depending on your sector, you’ll need additional documents to support your high-risk merchant account application:

CBD & Hemp Businesses

• ☐ Independent lab test results showing THC content compliance
• ☐ FSA Novel Foods authorization (if applicable)
• ☐ Supplier certificates and documentation
• ☐ Product labeling and packaging samples
• ☐ Marketing materials review

Peptide & Research Chemical Businesses

• ☐ Certificates of analysis for all products
• ☐ Product classification documentation
• ☐ Clear “research use only” disclaimers on website
• ☐ Supplier documentation and purity certificates
• ☐ Compliance with UK regulations on sale and marketing

Gaming & Gambling

• ☐ UK Gambling Commission license (mandatory)
• ☐ Game fairness certifications (RNG testing)
• ☐ Responsible gambling policies and age verification processes
• ☐ Anti-money laundering procedures
• ☐ Terms covering bonus offers and wagering requirements

Supplements & Nutraceuticals

• ☐ Product ingredient lists and formulations
• ☐ Certificates of analysis
• ☐ Evidence that claims are substantiated and compliant
• ☐ Manufacturing certifications (GMP if applicable)
• ☐ Clear disclaimers about health claims

Subscription & Continuity Businesses

• ☐ Crystal clear cancellation process (easy to find and use)
• ☐ Trial offer terms clearly displayed
• ☐ Recurring billing disclosures before checkout
• ☐ Email confirmation of subscription terms
• ☐ Customer account portal for self-service cancellations

Travel & Ticketing

• ☐ ATOL license (if selling flight packages)
• ☐ ABTA membership documentation (if applicable)
• ☐ Clear cancellation and refund policies
• ☐ Force majeure and disruption policies
• ☐ Financial protection documentation

High-Risk Merchant Account Application Process

Step 1: Prepare Documentation (1-3 days)

Gather all required documents from the checklist above. The more complete your application, the faster approval.

Step 2: Initial Consultation (Same day)

We review your business model, processing requirements, and risk profile to identify the best providers for your situation.

Step 3: Application Submission (1 day)

We present your application to suitable providers, highlighting strengths and addressing potential concerns proactively.

Step 4: Underwriting Review (3-10 days)

Provider’s underwriting team reviews your application, may request additional information or clarification.

Step 5: Approval & Setup (1-2 days)

Once approved, account credentials are issued, payment gateway is configured, and you’re ready to process.

Total timeline: Most high-risk merchant account applications are approved within 5-14 days for compliant businesses with complete documentation.

Application Success Tips

Common Application Mistakes to Avoid

1. Incomplete Applications

Missing even one document delays approval significantly. Use this checklist to ensure everything is ready before submitting.

2. Poor Website Quality

Websites with broken links, missing legal pages, or unprofessional design get declined immediately. Invest in a professional site before applying.

3. Unclear Business Model

If the underwriter can’t understand what you sell and how, they’ll decline. Provide clear explanations and product descriptions.

4. Hiding Previous Issues

Previous account terminations or chargebacks will be discovered during underwriting. Disclose them upfront with explanations – honesty is valued.

5. Unrealistic Projections

Claiming you’ll process £500K monthly when you’re a brand new business raises red flags. Be realistic about volumes.

6. Missing Industry Licenses

If your sector requires licenses (gambling, travel, etc.), you must have them before applying. Applications without required licenses are auto-declined.

7. Poor Contact Information

Using free email addresses (@gmail.com), missing phone numbers, or PO box addresses appear unprofessional and suspicious.

What Happens After Approval?

Once your high-risk merchant account application is approved:

1. Account credentials issued: Login details for your merchant dashboard and payment gateway
2. Integration support: Technical setup assistance to connect the gateway to your website
3. Testing phase: Process test transactions to ensure everything works correctly
4. Compliance review: Final check of website and processes before going live
5. Go-live: Start processing real transactions
6. Monitoring period: First 30-90 days closely monitored to ensure smooth operation

High-Risk Merchant Account Application FAQs

How long does a high-risk merchant account application take to approve?

Most applications are approved within 3-10 days for compliant businesses with complete documentation. Complex cases or businesses with previous terminations may take 2-3 weeks for thorough underwriting review. Incomplete applications can take 4-6 weeks as documents are requested and provided piecemeal.

Can I apply if I’ve been declined by other processors?

Yes. Previous declines don’t automatically disqualify you from high-risk merchant accounts. We work with providers who specialize in businesses declined elsewhere. However, you must disclose previous declines and explain what happened – hiding them causes instant rejection.

Do I need a UK business bank account?

Yes, for UK merchant accounts you need a UK business bank account. Some European providers may accept EU bank accounts. Personal accounts are not acceptable – you must have a business account in the company name.

What if my website isn’t ready yet?

Don’t apply until your website is live and compliant. Applications with incomplete websites are automatically declined. Build a professional, compliant website first, then apply.

How much processing history do I need?

New businesses with no processing history can still get approved, though they may face higher fees or reserves initially. If you have processing history, provide statements showing volumes, chargeback ratios, and account status – clean history significantly improves approval chances and pricing.

Can I apply for multiple high-risk sectors at once?

It’s better to focus your application on your primary business activity. If you operate in multiple high-risk sectors (e.g., CBD and supplements), disclose all activities but emphasize your main focus. Some providers approve multi-category businesses, others prefer single-focus operations.

What happens if my application is declined?

We find out why and either address the issues and reapply, or approach different providers with better risk appetite for your sector. Decline reasons typically include: incomplete documentation, website compliance issues, previous undisclosed terminations, or operating in sectors the provider doesn’t support.

Do I need to provide personal guarantees?

Sometimes, yes. Directors of limited companies may need to provide personal guarantees, especially for new businesses or those in very high-risk sectors. This protects the provider against losses from chargebacks or fraud.

Can I update my application after submission?

Yes, if the underwriter requests additional information or clarification. However, it’s much better to provide complete, accurate information upfront rather than updating repeatedly.

How does We Tranxact help with applications?

We review your documentation before submission to ensure completeness, present your application to the most suitable providers for your sector, highlight your business strengths to underwriters, address potential concerns proactively, and follow up throughout the underwriting process to ensure smooth approval.

Download Your Application Checklist

Save this checklist and tick off items as you gather documentation. Having everything ready before you apply significantly speeds up the approval process and increases your chances of success.

Related High-Risk Payment Guides

• High-Risk Merchant Accounts UK
• High-Risk Merchant Account Costs
• High-Risk vs Standard Merchant Accounts
• Peptide Payments UK
• Ecommerce Payment Gateways

UK Payment Compliance Resources

• Financial Conduct Authority (FCA) – Payment Services
• GOV.UK – Money Laundering Registration
• UK Gambling Commission
• Food Standards Agency – Business Guidance
• PCI Security Standards Council

Start Your High-Risk Merchant Account Application

Get your business approved for payment processing with expert guidance from We Tranxact. We handle the entire application process, ensure your documentation is complete, and connect you with providers who understand your industry.