CBD AND MARIJUANA SEEDS
Since it is manufactured from the hemp plant, however, it is considered a high risk industry, and securing payment processing for CBD businesses is challenging. With that said we have establish a few ground breaking processing relationships that are up to the task.
You have come to the right place!
Acquiring banks categorize CBD oil as a high-risk industry since it is derived from the hemp plant, even though it contains barely traceable amounts of THC, the psychoactive, pain-killing component of marijuana. Because the possession, sale and use of marijuana remains illegal by federal law, some acquiring banks are leery of offering payment processing solutions for such, despite the many health benefits of CBD. With that said General Dynamicx Payment Processing has established a few ground-breaking processing relationships that are up to the task.
Will Payment Processing for CBD Ever Get Easier?
We think it eventually will, and here’s why: Because it is tied with marijuana, banks will always view CBD businesses as a risk. However, with continued evidence of health benefits, as well as continued investment by VCs, we believe banks will, in time, view the industry with less risk.
In the meantime, General Dynamicx Payment Processing, a long-time provider of high risk merchant services, can offer CBD merchant account options. Contact a live merchant account manager for a free CBD merchant account consultation with David at +1 647 612 7729 or by emailing email@example.com
CBD Merchant Account Approval Timetable
The time it takes for CBD merchant account approvals varies with each merchant and their processing history. With all the supporting documentation and materials, General Dynamicx Payment Processing can provide a credit card processing solution between 1-3 business days.
What Are the Fees Associated with CBD and Marijuana Seeds Accounts?
The fees General Dynamicx Payment Processing charges depend on several factors, such as the merchant’s processing history, type of industry (high risk or low risk) and/or projected sales volume.
Each merchant account is unique. Fees are based on history, volume, and operational stability. Typically fees include:
- There are NO upfront setup fees for operating accounts. Setup fees are charged to merchant who require “backup processing only”, and do not plan on using the account for regular daily processing
- Daily Payments to Merchants after the first 14-21 processing days
- Merchant Discount Rate (MDR): 7% and 15%.
- Per Transaction Fee: $0.35 to $1.
- Monthly Statement Fee: $29.95 per month
- Monthly Gateway Fee: $99.99 per month
- Six-month Rolling Reserve: 5% to 10% and is returned to the merchant after 180 processing days or 180 post processing.
- Chargeback Fee: $95.00 for chargebacks less than 1% of gross sales or volume. Significantly higher if above this threshold.
- Refund Fee:
- Refunds performed by the Merchant – $10.
- Refunds performed by GDI Customer Service – $40.
GDI Merchant Application
You can get started by downloading the GDI General Merchant Application (select button) and completing it offline.
Or, complete the application now by selecting the button below. The application will reveal itself, and you will be required to upload your Identification and Corporate Documents to complete the application. You should retrieve this information now before you start this application process.
|Questions, Comments or Concerns?|
|Contact David or Donna|
|Phone: +1 647 612 7729|