Gun Merchant Account

Obtaining a merchant account for a business related to firearms and guns sounds as though it’s going to be difficult – right?

Well, think again – but only if you are fully legal of course.

Whenever someone says guns in the office, you see everyones head drop, but the truth of the matter is shooting is a popular sport, and participants of the sport need shops and retail outlets to obtain ammunition, guns or new weapons to participate in the sport they love. We pride ourselves in being able to support these genuine businesses that keep the sport of shooting alive and kicking.

Whether it’s:

Clay pigeon shooting

Benchrest shooting

Game shooting

Sporting Clays

Apply now

The bottom line is that as long as you are a fully licensed business to possess and sell guns and ammunition/firearms then our high risk acquiring banks will certainly open a merchant account for your business.

Obviously as you would expect, there is lots of due diligence to go through for all directors and shareholders to get approval for your merchant account for firearms. Anyone that tries to obtain a merchant account that is not licensed will immediately be declined for a merchant account, for obvious reasons if you are selling guns and weapons you need to be very tightly regulated as a business and the individuals behind the business.

However, our acquirers recognise that there are genuine good businesses that require the services to take payment via a card machine and will happily support in opening an account should all checks stack up.

Obtaining a merchant account for your firearms business for E-commerce might be a little trickier to obtain for obvious reasons however this facility is still available for the right businesses that can demonstrate levels of security that fits the acquirers requirements.

So, all is not lost! – if you have been terminated or your acquirer has served you notice on your firearms business and you are in need of a merchant account we can help you.

Contact us today

Below are some things you should know before you get started with your application to start accepting Visa and Mastercard payments. Before your start you must be licensed.

Artboard 11

There is a possibility that your acquirer may attribute a rolling reserve to your account if approved – traditionally this is 10% over 180 days for firearms merchant accounts, this means the bank will retain 10% of your takings for 180 days and deposit them 180 days after to negate chargebacks.

22

IT TAKES TIME – Please allow a little longer than usual to get approved for your firearms merchant account, there is a lot of underwriting to do. It usually takes 3 to 5 weeks for approval depending on how quick you come back to requests.

You will need the following documents to get started:

  • Proof of directors ID
  • Proof of business bank account – we can help here
  • Firearms licence
  • Proof of business address of directors
  • Proof of business trading address
  • 6-month previous acquiring history
  • Proof of LOW levels of change backs
  • Brochures, Management experience or a CV of director
  • Security check policy of the business
33

The rates that you are offered for your firearms merchant account will not be comparable to the high street low acquiring rates that you see banded about – firearms sector is known as high risk and the rates will be reflective of that risk.

44

Your acquirer MAY choose to charge you a $500 high risk fee for Mastercard, you can choose if you want to accept Mastercard but it’s something you should be aware of before you start the application.

55

Settlements – the settlement terms for your firearm merchant account might be a little different to your usual merchant account, it’s usually a weekly settlement with a 7 day delay.

66

We can only supply a merchant account to businesses that are registered within the EU, also the directors are required to reside in the EU.

77

Obtaining a card machine for your firearms business is a little easier to get approved for than getting a Ecommerce or a virtual terminal solution, please consider this when putting forward your application.

88

If you’d like to put forward an application for your firearms merchant account then please start the process by clicking here.

Get started

Talk To An Expert Today

We have helped hundreds of businesses throughout the UK save money on their rates. Book a review today!

Get A Quote
gold-circle

Send enquiry