Merchant accounts for CBD and other high-risk businesses
Many payment providers turn away CBD sellers and other businesses labeled high-risk, even when they operate legally. We help you present your business clearly to underwriters and explain the terms before you accept them. Approval is never guaranteed, and we'll tell you plainly what affects it.
Who it's for
Businesses that processors classify as higher risk because of what they sell, how they sell it or their processing history. Each processor draws the line differently.
- CBD and hemp product sellers, in store and online
- Pawn shops and secondhand dealers
- Home-based and online businesses with little processing history
- Merchants with past chargeback problems or a closed processing account
- [PLACEHOLDER: Confirm the full list of high-risk industries TurnKey can place]
How it works
- Step 1
Talk through your business
We ask about your products, how you sell, your volume and any processing history, so nothing surprises the underwriter.
- Step 2
Gather your documents
High-risk applications need more paperwork. We tell you exactly what to prepare for your industry.
- Step 3
Underwriting review
We submit your application to an acquiring bank that accepts your industry. Underwriters may ask follow-up questions or set conditions, such as a reserve. [PLACEHOLDER: Typical underwriting timeline]
- Step 4
Review the terms, then go live
Before you sign, we go through the rate, any reserve and the contract terms with you.
Pricing and terms
High-risk accounts usually cost more than standard accounts and can include a rolling reserve, where part of each deposit is held for a set period. Your terms depend on your industry, history and volume, and are set during underwriting. [PLACEHOLDER: High-risk pricing approach, e.g. quoted after underwriting]
- Written terms, including any reserve, before you sign
- Rolling reserves explained in plain language
- Chargeback alerts and monitoring [PLACEHOLDER: Confirm chargeback tools offered]
What to have ready
Having these on hand speeds up underwriting. We'll confirm the exact list for your business when you apply.
- Government-issued photo ID for each owner with 25% or more of the business
- A voided business check or a letter from your bank
- Three to six months of business bank statements
- Three to six months of processing statements, if you take cards today
- Your business license and federal tax ID (EIN)
- Industry licenses or registrations that apply to your products
- For CBD: certificates of analysis (COAs) for the products you sell
- Your website address, plus refund, return and shipping policies if you sell online
Find out where your application stands
Book a consultation. We'll review your business and documents and tell you honestly what to expect before you apply.
Prefer the phone? Call 1-888-365-8876
Questions we hear
The questions merchants ask us most. Ask us anything else on a call.
Why is CBD considered high-risk?
Banks and processors weigh changing regulations, card-network rules and higher chargeback rates in some product categories. CBD rules differ by state and by product type, so many processors avoid the category altogether.
Can you guarantee approval?
No. Approval is decided by the acquiring bank's underwriters. We'll tell you honestly how your application looks and what could strengthen it before you apply.
What is a rolling reserve?
A share of each deposit held back for a set period to cover possible chargebacks, then released on a schedule. Reserves can often be reduced after a period of steady processing with few disputes.
Can I sell CBD online as well as in store?
Often, yes, but online sales get extra scrutiny. Underwriters review your website, product labels and certificates of analysis. [PLACEHOLDER: Confirm online CBD sales support]
My last processor closed my account. Can you help?
Possibly. Tell us why the account was closed. Being placed on the MATCH list, a card-network database of terminated merchants, makes approval much harder but not always impossible. We'll be upfront about your options.