Bail Bonds Merchant Accounts
In this digital age, there is a tremendous amount of opportunity for businesses. One area of business that most individuals do not think about is bail bonds. Long a stereotype in the movies and on TV, providing bail bonds for clients is a healthy and growing business. Revenue is over $3 billion a year, and there are over 9,000 businesses in the bail bonds trade with a total employment of over 15,000 people. However, businesses who specialize in bail bonds face an uphill battle in securing a good merchant account provider as banks consider them high risk merchants. Merchant Processing Advisors is here to help those in the bail bonds industry find payment processors that offer a wide range of services and highly competitive rates.
We are increasingly living in a society that rarely uses cash and instead prefers to use debit and credit cards. The typical brick-and-mortar store needs to process such transactions in order to stay in business, and this holds true for bail bonds merchants as well. The normal bail bonds transaction process begins with a criminal defendant needing to post a bail of a specific amount. The reality is that few defendants can afford to pay $5,000 to $20,000 by themselves, so they secure a bail bond by putting up 10%. Again, few defendants are capable of putting up the ten percent requirement, so they use a credit card to do so. If they do have the necessary funds, then they’ll likely use a debit card because A) it’s convenient and how most financial transactions are done today, and B) few people want to carry around that amount of cash. A bail bonds merchant will need the capability to accept such payments, which is where Merchant Processing Advisors comes in.
Being a high risk merchant, it can be incredibly difficult for such a business to find a bank to work with them as most banks will either say no outright or offer ridiculously high rates. Merchant Processing Advisors specializes in high risk merchants, and we have extensive worldwide contacts and multiple account providers that will be glad to form a partnership and offer a great rate. When you’re tired of being turned down, give Merchant Processing Advisors a call. Once you fill out our short application, we will have a rate quote for you within 24 to 48 hours.
Our services are provided at no additional cost to you.