Frequently Asked QuestionsHow do I get an account? What business information is needed to open an account?

Since a merchant account is a financial service involving the exchange of funds, you will need to complete an application for the underwriting bank. The application information includes:
•    Name, address, and telephone
•    Checking account (for funds to be deposited/withdrawn)
•    Federal Tax ID (for Corporations, LLCs, and Partnerships), and your Social Security number (for Sole proprietorships)
•    Type of business
•    Credit card processing history, if applicable
•    Additional financial information, if requested from the underwriting bank

FAQ Topics

Other Topics in
General

• What is Payment Processing?
• What are the advantages of accepting credit & debit cards?
• What is a merchant account?
• How do I get an account? What business information is needed to open an account?
• What is Merchant of Record (MOR) and why is it important?
• How long will it take to process my merchant processing application?
• What types of payments can I accept through Ascent?
• What fee payment options does Ascent offer?
• What if my business is not based in the U.S. or Canada?
• Why Ascent?
• Do you have options to help offset credit card fees?
• What are assessment fees?
• What countries does Ascent service?
• What is an Effective Rate?
• What is a MO/TO Transaction?
• What is a Merchant Buying Group?

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