How it Works: Getting your Merchant Account Approved

At Green Financial Service, we’ve streamlined the process to make setting up your high-risk merchant account as fast and stress-free as possible. Whether you’re a CBD store, kratom/kava bar, smoke shop, or other high-risk business, here’s what you can expect:

Information Gathering

Submit Basic Business Info

- 📍 Physical business address
- ☎️ Business phone & email
- 🌐 Website URL

Step 1

Tell Us How Customers Connect with You

Information Gathering

Owner Information

- 🏠 Home address
- ☎️ Alternate phone number
- 🪪 ID scan for all owners
- 🔢 Social Security Number (SSN)

Step 2

Tell Us How the Government Identifies Your Owners

Information Gathering

Verify Banking Account

- 🏦 Voided business check or bank letter
(This ensures funds go to the right place)

Step 3

Tell Us Where to Send the Funds

Information Gathering

Submit Business Documents

- 🗂️ Articles of Incorporation/Organization
- 🏢 IRS EIN Letter (SS4)

Step 4

Tell Us How Your Business is Registered

Information Gathering

Share Recent Statements

- 📄 3 months of business bank statements
- 💳 3 months of merchant statements (if you have them)

Step 5

Show Us Your Recent Business Activity

Information Gathering

Give Us a Quick Snapshot of Sales

-💰 Average ticket amount
- 💳 High ticket amount
- 📈 Projected monthly volume

Step 6

Tell Us How Your Business Performs

Submission and Execution

Processing and Approval

✅ No paperwork hassle — once we have this info, we’ll send you a digital app link for quick e-signature.

Questions? Reach out any time — we’re here to help you get up and running fast.

Step 7

Approval within one week - usually 1-2 days depending on business type.

How long does it take to get approved for a high-risk merchant account?

Most approvals take 1–2 business days, but certain industries or business types may take up to a week. CBD, kratom, and smoke shop accounts are usually on the faster end because of our established relationships with acquiring banks.

Do I need perfect credit to be approved?

No. We approve nearly 100% of legal businesses, even with bad credit. Approval depends more on your business being legitimate and compliant with industry regulations than on your personal credit score.

What documents do I need to submit?

We’ll guide you step-by-step, but typically you’ll need: Business license and formation documents (Articles of Incorporation/Organization), IRS EIN Letter (SS4), Voided business check or bank letter, ID for all owners, 3 months of business bank statements, 3 months of merchant statements (if available)

Why do you need my Social Security Number (SSN)?

This is required by U.S. banking regulations for identity verification of business owners. It helps our acquiring banks confirm ownership and prevent fraud — not for personal credit checks in most cases.

I don’t have a website. Can I still get approved?

Yes. If you don’t have an active site, we can set you up with a virtual terminal so you can process payments by phone, invoice, or payment link.

Can I take payments online and in-store with the same account?

Absolutely. We set up omnichannel merchant accounts that allow you to process ecommerce, retail POS, and mobile payments under one account, with a single deposit to your bank.

How do you handle businesses in restricted industries like CBD or kratom?

We work exclusively with acquiring banks that understand and support these industries, so your account won’t be shut down unexpectedly due to “policy changes” like it might with mainstream processors.

Will my rates be higher because I’m in a high-risk industry?

Rates in high-risk industries are naturally higher than low-risk categories, but our long-standing bank partnerships help us secure more competitive pricing than most high-risk processors.

What happens after I’m approved?

You’ll receive your gateway login and setup instructions (for ecommerce) or your POS terminal (for retail). Funds will typically start depositing into your account within 24–48 hours of your first batch.

What if I have more questions during the process?

Our team is available by phone, email, or text to walk you through every step. We also provide quick digital applications for e-signature so you don’t have to deal with endless paperwork.

Unsecured Lines of Credit

Equipment Financing

Asset Based Lending

Accounts Receivable Financing

Flexible Lines of Credit

Merchant Cash Advance

How it Works: Getting your Merchant Account Approved

Submit Basic Business Info

Step 1

Owner Information

Step 2

Verify Banking Account

Step 3

Submit Business Documents

Step 4

Share Recent Statements

Step 5

Give Us a Quick Snapshot of Sales

Step 6

Processing and Approval

Step 7

How long does it take to get approved for a high-risk merchant account?

Do I need perfect credit to be approved?

What documents do I need to submit?

Why do you need my Social Security Number (SSN)?

I don’t have a website. Can I still get approved?

Can I take payments online and in-store with the same account?

How do you handle businesses in restricted industries like CBD or kratom?

Will my rates be higher because I’m in a high-risk industry?

What happens after I’m approved?

What if I have more questions during the process?