Merchant accounts for pension and investment claim companies

Card processing for pension and investment claims businesses

Claims against mis-sold pensions and investments are set to rise in the coming years, with client compensation reaching thousands of pounds per case. Much like PPI claim companies, pension and investment compensation businesses are deemed high risk, when it comes to applying for card processing.

The reason mis-sold pension and investment firms carry the ‘high risk’ label is as follows;

  • The industry tends to experience high levels of chargebacks
  • Fraud if often experienced with mis-sold pensions and investment false claimants
  • Payments are often taken without the customer present, making them slightly more high risk.

Pension and investment claim payment gateways

The majority of payments within claims businesses are processed as MOTO (mail order/telephone order) where the customers give card details, which are then processed through an online virtual terminal. Therefore to process pension and investment claim payments, businesses will require both a merchant account and payment gateways.

TO FIND OUT HOW PAYMENT GATEWAYS WORK CLICK HERE

Frequently asked questions

Is it better to have an offshore merchant account for pension and investment claims companies?

We get asked this question a lot. Although there are offshore accounts available to claims businesses, these often come with higher fees. If your account can be kept within the UK – our advisors will make sure that remains the case.

 

How long will it take to get a live merchant account for pension and investment claims firms?

Applications can be live within 7-10 working days. Our experts will package your application accordingly, to ensure there are limited delays between applying and going live.

 

How long will it take for funds to clear?

Each provider is different, so have varying timeframes as to when the fund will reach your business account. On average this takes between 2-3 working days.

 

Merchant Advice Service work alongside industry experts to provide advice in securing the best possible merchant account and payment gateways for pension and investment claims companies. With over 300 merchant banks and gateway providers to choose from, our experts will work with you to find a suitable account for your business now and in the future.

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Make a quick enquiry

Speak to us directly and get any questions you have answered. Submit your details and we’ll be in touch shortly.

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Tick this box to allow Merchant Advice Service and partnering firms to contact you in relation to your enquiry and associated services. Note we do not use pre-ticked boxes or any other type of default consent. We may use the data on this form to to pass you onto an advisor who suits your specific needs. You may withdraw your consent at any given time.

We will keep record of your data and consent granted to us. Your consent will be reviewed on a five yearly basis to ensure that our relationship and the purpose of the data have not changed.

We act on requests to withdraw the information we hold on you as soon as we can.

For further information please refer to our full terms and conditions HERE.

Make a quick enquiry

Speak to us directly and get any questions you have answered. Submit your details and we’ll be in touch shortly.

Agree

Tick this box to allow Merchant Advice Service and partnering firms to contact you in relation to your enquiry and associated services. Note we do not use pre-ticked boxes or any other type of default consent. We may use the data on this form to to pass you onto an advisor who suits your specific needs. You may withdraw your consent at any given time.

We will keep record of your data and consent granted to us. Your consent will be reviewed on a five yearly basis to ensure that our relationship and the purpose of the data have not changed.

We act on requests to withdraw the information we hold on you as soon as we can.

For further information please refer to our full terms and conditions HERE.

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