In my experience as an entrepreneur, finding and getting approved for a decent merchant account can be a hassle. And as a home business owner, that hassle is multiplied significantly, because to them, every home based business is some kind of a pyramid scheme they want no part of.
Sound familiar?
If you’ve ever applied for a merchant account and have been denied because of the industry you’re involved in, you know what I’m talking about.
I’ve tried PayPal, Chase, Bank of America…and the list goes on. For traditional brick and mortar business models, not a problem. But for the typical network marketer, they got no love.
Here’s a quick example of my past frustrations with merchant accounts.
Back in the day, I was part of a great company which offered top tier products. It was a direct sales company and by being so, was also a network marketing company. I had recently sold two conference tickets, which came out to a total of around $21,000. Well, the merchant account I was with decided, out of the blue, that they were going to hold every penny $21,000 for six months….just to make sure it wasn’t fraudulent.