Document Preparation Merchant Accounts

Fast Approval + 25% Lower  Fees

First Card Payments has over 20 years experience as an online merchant processor.

First Card Payments understands how volatile the student doc prep industry is. The document preparation industry has been one of our main focuses for over 10 years, and many of our longest and most valuable clients are from document preparation merchant accounts.

Banks and ISOs are constantly changing their rules and terms of service to comply with the ever-changing underwriting regulations. For some credit card processing companies, this level of volatility makes it difficult for them to accept student doc prep companies.

Banks and ISOs consider companies in the document preparation industry high risk.

Here at First Card Payments we understand how to strategize to get your company as many merchant accounts that are needed so volume is never a concern, whether you do a million dollars a month in volume, you’re a startup or somewhere in between, or just rebranding.

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You will be setup with multiple accounts to ensure there is never an interruption in service. You can focus on running your businesses and leave the banks to us!

We understand exactly how the student doc prep industry operates from almost a decade of experience within the industry. We know where to go to obtain multiple startup accounts (MIDS), allowing your business all the volume it needs. After 3 months of processing, we know the right banks & ISOs to apply to for additional merchant accounts, which will up your volume across the board. This will typically result in a starting volume cap of $60-$100k and $200k-$400k in volume after the first 3 months.

When you work with First Card Payments, you’re getting more than a document preparation merchant account. You’re getting a partner and an experienced advisor, with all our vast expertise.

Why Are Doc Prep Companies Considered High Risk?

For years, lenders have been taking unfair advantage of students who struggle to pay off their student loans. That opened a door for companies to come in and assist students with preparing the documents needed to take full advantage of the government programs that are designed to help students.

Many students don’t have the time, patience, or know how to handle the document preparation on their own. These student doc prep companies are helping them get the job done.

The lenders would prefer not to have students take full advantage of these government programs, and so it’s fairly common for lenders to falsely claim that student doc prep businesses are fraudulent because this is a service that can be done for free directly through the lender.

Most students would not think of it as good practice to ask for help from the lenders, whose interest is their own first and then the students.

When students hear that they can take advantage of these programs, they are convinced by lenders to file a chargeback against the student doc prep company they hired, after all services have been rendered. That’s  why this industry is considered high risk and why multiple merchant accounts for document preparation services is necessary.

Of course, the goal of the lender is to put the doc prep companies out of business if they can.

Additionally, some students that are low on funds see a chargeback as a way to get some more cash in their pockets.

Documentation Preparation Business Consulting

Looking for multiple student loan merchant accounts? Looking for more volume? Just rebranding?

We offer consultations and our one-of-a-kind expertise to help you manage the ups and downs of running a doc prep business and your document preparation merchant account.


starting a credit repair business in FloridaJust because student doc prep is considered high risk, it doesn’t mean you must pay high fees for merchant services.

We have secured fees 25% below our competition for 99% of our document preparation merchant accounts. We have long standing relationships with over 30 banks and ISOs and we use our relationships to secure the best prices for your business. Some of these relationships are personal, directly with the owners, presidents, and CEOS of these companies. This can only be a big advantage for approvals that may need special considerations.

The student loan doc preparation business is no shrinking violet. 1.5 billion dollars are owed by students in the United States. Services that can help students get out from under this type of debilitating debt are needed. There are over 44 million students affected by this debt. Some students owe as much as $250k and many never get out from under that debt. If the students can be helped in anyway with their debt, it will not only help anxiety levels of the students, but it will also help the economy. That’s why it is our goal at First Card Payments to help businesses acquire the merchant processing accounts they need.

How to Apply for Document Preparation High Risk Merchant Account

This year, the document preparation services industry is already worth $4.4 billion yet it’s still one of the many unrecognized businesses in the country even if they offer essential services for other industries like finance, legal and healthcare.

That is why if you’re running such business, you may find yourself having a hard time applying for a payment processing account and that’s because document preparation is tagged as a high risk merchant.

But if you’re going to succeed in your application, you need to take some smart steps to make sure that you have the best chance at getting the good graces of your merchant account provider:

Groom your business well.

When you apply for a high risk merchant account, your application will go through a team of underwriters who will scrutinize every detail of your business to make sure that you’re worthy of their approval.

So before you submit an application, it’s best to groom your business first by fixing any loopholes that could jeopardize your success.

If you have bad credit, take care of late payments and make sure that you have enough funds in the bank to show that you are capable of paying refunds and chargebacks.

You should also look into your refunds and chargebacks policies and make sure that they are published in all your public platforms including contracts, receipts and on your website.

Find the right merchant account provider.

A lot of financial institutions would promise to offer the best payment processing service, but not all of them will deliver. To find the right merchant account provider, you need to read through the fine print of its terms and conditions. Any unfavorable terms and hidden charges should be a red flag because you don’t want to be tied up to a provider that will only make you spend more. You should also work only with providers that have A+ ratings with the BBB.  

Gather the documents to back up your application.

Once you’re ready to apply, you will be required to submit some documents to back up your application. This will include a copy of your driver’s license or any valid, government-issued ID, your three months most recent credit card processing statements if you already process this type of payment, your Social Security Number (SSN), and a copy of a voided business check.

You may also be required to submit other supporting documents so it’s best to have them ready to speed up your application.

Finally, you need to be ready for the screening process. Merchant providers do this to determine whether you are fit for their business model or not. Although this process could prove to be tedious sometimes, it’s necessary to prove yourself and get a better shot at an approval.

Just prepare all the necessary business documents and financial statements, and always be honest and upfront when answering questions from underwriters.

Remember that a bad credit history or a recently bankrupt business doesn’t disqualify you of an account right away. You just need to prove your worth to these underwriters.

Compatibility with CRMs

Our doc prep payment gateways integrate with your current CRMs to ensure there is no interruption in service. We offer document preparation merchant accounts that seamlessly integrate with these CRM software companies:

  • Captaloans CRM
  • Cimmaron CRM
  • DebtPayPro CRM
  • Debtonator
  • LoanPost CRM
  • LendingWise CRM
  • Set Shape CRM
  • SX3 CRM
  • & Many more

Other Document Preparation Businesses We Service:

  • Legal doc prep
  • Business doc prep
  • Personal identification doc prep

Why First Card Payments

  • No application or setup fees, unlike just about everybody else. We don’t believe in nickel and diming you or hiding fees.
  • Most times there will be no early termination fees or cancellation fees, which means this agreement is month to month-you can leave anytime without consequences!
  • Whether you been in business many years or you have at least 6 months of prior processing history, 99% of the time, First Card Payments will save you a minimum of 25% of the markup off your current fees.
  • Over the past decade we have accumulated over 30+ relationships with banks and ISOs. Some of these relationships are personal, directly with the owners, presidents, and CEOS of these companies. This is a big advantage for approvals that may need special considerations.
  • No matter the situation- termination reasons (high chargebacks, bad credit, card not present (CNP))- we have additional solutions that will accept almost any situation.
  • We offer an encrypted and easy to use credit repair gateway.

When you are ready to take the next step towards your success, give us a call!

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