How To Get Your Merchant Account Approved
The underwriting team at our partner banks will need to review specific documents prior to the approval of your merchant account. The best way to prepare your documents for review is to:
- Scan each document.
- Give each document an appropriate name for easy identification.
- Upload your documents to a DropBox folder or a Google Drive folder.
Website Compliance Guidelines
Required Policy Pages On The Website
- Terms and Conditions of Use
- Refund & Returns Policy – must describe the conditions upon which a refund will be approved and the manner, method and time frame that funds will be received
- Shipping Policy – must include the actual postal couriers used and the estimated time-frame for delivery.
- Complete Contact Information – info must include a physical business address, a customer service phone number, and a customer support email address.
Dietary Supplement & Suggested Usage
Hemp-derived CBD is not a dietary supplement nor a drug. For this reason, the sponsoring bank requires that any instructions regarding ‘suggested use’ or ‘recommended dosage’ be removed from the website or changed. Replace any usage/dosage instructions with verbiage similar to the following:
This product is non-toxic, contains no psychoactive substances, does not cause a euphoric high, and is safe for humans or pets if ingested.
Prohibited Statements or Claims In Advertising & Marketing
The website must not contain any false or misleading statements suggesting ‘cures, heals, mitigate’, or any other alleged medical claims. Links to clinical students, academic research, are acceptable.
Comply with the Federal Food, Drug, and Cosmetic Act (“FDC Act”) marketing and advertising practices acceptable rules of conduct.