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Cryptocurrency can be used at an international level because it is not bound by the exchange rates, interest rates, or transaction rates of foreign countries, enabling businesses and expand into various markets. Octapay LLC is one of the top international payment gateway system, it helps in open a Cryptocurrency Merchant Account. For more information, visit our website.

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Are you looking best and instant approval merchant services? Octapay LLC is one of the best leading and known company in UK are offering instant approval merchant account services and customizable payment gateway solutions with multi layers of security. For more read via blog.

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Finding the best payment gateway providers  UK ? Octapay LLC is the best company in UK provides high-risk merchant account services & customizable payment solutions at competitive prices with  multiple layers of security.  For more read via article

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High Risk Merchant Account UK

Are you Seeking for a High Risk Merchant Account in UK? Octapay LLC is the only company in the industry that offers Instant Approval Merchant Account, high-risk merchant account services & customizable payment solutions at competitive prices with multiple layer of security. For more visit our website

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Understanding high-risk merchant accounts in the UK

Most banks in the UK consider Bitcoin merchant accounts as high-risk accounts. It is universally agreed that such accounts are risky and hence banks are quite forthright in rejecting such accounts. 

However, with the advent of technological solutions and upgrades, crypto merchants are finding solace in alternative payment solutions where the accounts are getting opened hassle-free and without much wait time. 

Why are Bitcoin merchant accounts high-risk accounts?

Most of the risk comes from the nature of crypto payments. Bitcoin payments are mostly anonymous. There are no statements, reversible and chargebacks are almost impossible with the result that there are refunds possible.

Another risk arises from the fact that there are no specific laws and regulations in the UK that govern such transactions. So, in case of any issue, no laws of the state can help banks get their money back or trace culprits against frauds. Also, the very nature of crypto transactions is unstable and filled with uncertainty –there are risks involved and often traders online lose a good amount of money because of the inherent nature of the transactions. The Bitcoin market is also often viewed in the financial sector with prejudice as it is believed that money laundering, theft, and illegal buying and selling happens too often through the cryptocurrencies. 

Bitcoin merchants are therefore required to submit a lot many documents to the banks for getting their accounts approved. Documents like the certificate of incorporation, details of company directors and owners, bank statements, utility bills, address proof, identity documents of the owners, etc. are mandatorily required to process such accounts.  

What are high-risk merchant accounts in the UK?

There are two types of accounts – high-risk and low-risk accounts. Once an account is identified as high-risk, there are limitations that the processing company puts on the account. Plus, the merchant needs to pay higher fees and has to deal with numerous restrictions to work with the payment processor. 

High-risk as the term indicates, are accounts where risks are high and therefore for the payment processing company, it is a risky investment. This is why only a limited number of processors are willing to work with such high-risk accounts. The way to identify a high-risk account is dependent on several factors that include the number of currencies the account accepts, the value of average credit card transactions, the monthly sales volume on an average, whether there are subscription payments or not, and the kind of services the merchant offers. Selling online tickets, Bitcoins, seasonal items, etc. all fall under high-risk merchant accounts in the UK.

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Instant Approval Merchant Services

Seeking for a Instant Approval Merchant Services? Octapay LLC is the only company in the industry that offers Instant Approval Merchant Account, high-risk merchant account services & customizable payment solutions at competitive prices. For more visit our website.