- Sole proprietors - your tax returns for the last two years.
- Corporations - your financial statements for the last two years.
- A voided check for the bank account where you want your funds to be deposited.
- If you are switching credit card payment processing providers you will have to submit your processing statements for the last three months.
In addition you will have to submit your personal information, including your SSN, and to personally guarantee your credit card processing account. Small business merchant accounts come in many shapes and forms and you may be asked for additional paperwork as well.
Be advised that if your business falls into a high-risk category, you will need a high-risk merchant account provider as not every processor will be willing to work with you. There are however certain business categories for which no US bank will underwrite a merchant account processing service. Prime examples are adult-oriented websites, third-party collection agencies, online gambling sites, etc. If you operate such a business, you will need to look for an offshore solution or a third-party processor.