Many people are interested in the selling and distribution of CBD oil, which is proven to have medicinal value and to be a great alternative to the highly addictive opioids. Here is a guide to the states where it is legal to sell CBD oil.
Breaking- The Department of Justice is dismantling it’s Operation Choke Point program which targeted some high risk merchant accounts and shut them down. This reversal will hopefully lead to more banks opening up to more high risk businesses. This program that started in 2013 essentially choked a businesses ability to get credit card processing i
Before we begin to gaze into the future, let’s define what high risk credit card processing is. There are certain merchants that require a for several reasons. It could be that there is a reputational risk involved with their products or services. Or the business is in an industry with a history of chargeback problems.
Many people think that because they run a legal and legitimate business there is no reason to have multiple merchant accounts. Why would a bank shut down a perfectly legal and clean account? Regardless of whether your merchant account is at risk of being shut down by the processor, there are many benefits to having multiple accounts if you are a high risk merchant
In 2013, the Department of Justice instituted Operation Choke Point, aimed to crack down on fraud and money laundering by investigating banks and the business they do with companies that have a high risk of fraud and money laundering. However, it had unintended consequences that ended up shutting down many legitimate businesses in the process.