Obtain a High Risk Jet Charter Merchant Account
As a high ticket industry, with appreciable risk display, traditional merchant service providers may be careful of commencing a merchant account for an initiating airline or charter business.
As the economic environment agenda and the general business view turn more confident, investing in luxury items for example chartered flights, is foreseen to soar over the coming five years, according to the report.
Apart from this positive prediction, banks examine businesses in this industry as way too risky. Elimination, accidental trips, and huge volumes of chargebacks, which are when a credit card provider asks a business to refund the mislaying of a disputed or fraudulent transaction, are some of the causes why traditional financial institutions don’t ask to sanction them for a jet charter merchant account.
An answerable, legal company that desires to process credit card payments effectively must turn to a processor, like Binary Gateway, to get a jet charter merchant account.
Afterward Binary Gateways train in high-risk merchant accounts, namely private airline and jet charter businesses, it customizes payment processing solutions to connect every merchant’s needs. The practical tips and suggestions here make it quick to sanction a jet charter merchant account. Fill out the Binary Gateway online application right now and get sanctioned for a merchant account in between 24 and 48 hours. Binary Gateway also provides tools, PCI-compliant payment gateways, and fraud filters.
Why a business needs a jet charter merchant account
Nevertheless, there are 22,000 businesses in the chartered flight industry, banks don’t permit to take a possibility and grant them jet charter merchant accounts. To efficiently and successfully process credit card payments, businesses, mainly charter flight companies that depend on online reservations and payments, must get merchant accounts.
These merchants are declared as high-risk businesses because they are open to higher numbers of chargebacks, which is when a credit card provider asks a company to give them the loss amount on a disputed or fraudulent transaction.
Email us anytime!
Email customer service 24/7 at email@example.com
Call us anytime!
Reach customer care 24/7 at (801) 761-5001
Since banks will either face them away or give very hard limitations on them, jet charter merchants have to go to high-risk merchant account suppliers, like Binary Gateways. Binary Gateway’s underwriting team will go through the application, which can be finished in a few minutes online.
With flexible payment solutions and lower card processing account rate structures via merchant account services, Binary Gateways assists businesses doing well. Faithful to considerable customers’ expectations, jet charter merchant accounts can get sanctioned in as little as 24 hours.
What’s needed to apply for a jet charter merchant account?
Get started on the application process by writing out Binary Gateway’s fast and easy online application. Though nothing is guaranteed, Binary Gateways assures a smooth process.
Apart from this to the application, the following documents are needed:
- An authentic, government-issued ID, such as a driver’s license or passport
- A bank letter or a pre-printed canceled check
- Three months of the most recent bank statements
- Three months of the most recent processing statements, if applicable
Fly through the underwriting process
The fastest method to get sanctioned for a jet charter merchant credit card is to work for a legal, accountable business. When underwriters begin estimating businesses, they examine to make sure that the companies are built on stable business principles and don’t involve in any unlawful activity.
Underwriters examine businesses to decide their hazards to processors. Credit scores, credit card processing history, bank statements, and websites are reasons that help evaluate risk. These are calculated and examined to make sure that the merchant doesn’t have bad bank account balances, outstanding bills, and history of spilling chargebacks. At last, a jet charter business’ website is inspected to ensure it has safe and protected by (SSL), as well as well-established privacy and refund policies.
Private charter jet businesses that desire to increase their possibility of approval should:
- Keep some money saved in the bank
- Pay any overdue bills and debts
- Boost the business principal with an amazing credit history to apply for the merchant account
Intelligent merchants not only want to get approved for merchant accounts, but they also want ones that aren’t loaded with huge processing volume caps and lower rolling reserves.
Some Related Blogs
Getting higher credit processing volumes for jet charter merchant accounts
Every business’s motive is to bring in high sales. Due to the risk connected with these sorts of businesses, many are given a 30 days credit card processing volume cap. This states merchants are only allowed to tackle a specific number of credit card transactions every month. Once that cap amount is achieved, the merchant cannot make any more credit card purchases, necessarily keeping a business from operating. Huge volumes are necessarily in jet charter businesses because of their more costs for services.
Jet charter and private airline categories to use
Federal statistical agencies’ rank initiation utilizes a list of six-digit numerical codes known as the Northern American Classification System (NAICS). The data is used to get, analyze, and publish graphical data about the same sort of businesses. Also, it is used to decide the way they affect the economy in the U.S.
Jet charters and private airlines often use the following NAICS codes:
- 481211: Nonscheduled Chartered Passenger Air Transportation
- 481219: Other Nonscheduled Air Transportation
- 487990: Scenic and Sightseeing Transportation, Other
The four-digit numerical Standard Industrial Classification (SIC) codes are used to figure out the main agenda of businesses. They are allotted by the United States and other countries.
Airlines and Jet Charters
Get your business aerial quick with merchant account training in aviation transportation.
In as little as 48 hours, we can sanction your jet charter company for an airline merchant account.
We can get your business off the ground
- No Application Fees
- Competitive rates
- No VISA/MasterCard Required
- Secure Payment Gateway
To get approved for an Air Liner or Jet Charter merchant account in at least 24 hours with Binary Gateways.