Precious Metals and Coin Dealers Merchant Accounts

Proven payment processing solutions for coin dealers and precious metal merchants.  Specialists in high ticket, high volume merchant accounts.  Easily accept debit / credit cards and ACH / echecks.  And watch your sales grow. 

Payment processing accounts for retail, eCommerce and mobile-based precious metal companies.  All precious metal businesses are welcome to apply including gold, silver, and precious metal dealers; brokers; scrap collectors and scrap recovery; bullion sellers; pawn shops; gold, silver and collectible coin dealers; and coin shops.


 

Consumer Demand Drives Sales for Coin Dealers and Precious Metal Merchants

The US and world economy are slipping into recessions that will take years to recover from.  The stock market is uncertain.  Traditional investments have increasingly unpredictable returns.  And there appears to be no end of uncertainty in sight for the near future. 

In precarious times, investors seek protections against risk and future volatility. Precious metals along with gold, silver and antique coins help balance financial portfolios.  And are considered safe and secure investment vehicles. 

Inclusion of precious metals like gold, silver, platinum, and palladium have long been included in well-balanced portfolios, even when markets are thriving.  Still, when stocks, bonds and traditional investment vehicles offer unpredictable, returns, precious metals and coins become increasingly attractive. In risky markets, investors are driven by an emotional search for certainty, which precious metals provide.

As the economic outlook continues to look bleak for the foreseeable future, the demand for precious metals and coins will continue to soar.  To take advantage of market demand, precious metal traders, brokers, coin dealers need to have effective methods of accepting payments.  


 

Credit Card Processing for Precious Metal Merchants

Both debit and credit card processing are available for precious metal merchants and coin dealers.  Naturally, accepting all major card brands is simply smart business.

Still, when you have a choice whether to accept credit cards or debit cards, your best option is debit cards.  The reasons are easy to understand.

Credit card transactions are much easier for consumers to charge back than debit card payments.  Consumers can dispute a credit card transaction for six months after the payment was made.  The consumer simply calls the card issuing bank and files a dispute. 

Savvy consumers frequently initiate credit card chargebacks as an attempt to get the products for free. Chargebacks are a big issue for high ticket credit card merchants where a single transaction represents a big financial loss.  And can jeopardize merchant credit card processing accounts.    

Credit card issuing banks have a vested interest in siding with the consumer over the merchant. The banks are motivated to keep consumers using the credit cards for other purchases.  After, banks make huge profits from credit cards, particularly when cards are not paid in full monthly.

Fighting credit card chargebacks takes time & effort.  And, let us face the facts. The odds of winning chargeback disputes are stacked against the merchant. 

Additionally, interchange rates for credit cards are significantly higher than interchange for debit cards.  As a result, credit card transactions cost more than any other payment method. Increasing your cost of sales. 


 

Debit Card Processing for Precious Metal and Coin Merchants

Debit cards are not associated with lines of credit from an issuing bank. Debit card transactions are paid via debiting funds from the consumer’s bank account, not from a line of credit.    

Banks are less concerned about debit card chargebacks because the money has already been deducted from the consumer’s bank account.  Since there is no line of credit involved, banks have minimum risk of financial loss.  As a result, banks are less motivated to side with consumers in debit card disputes compared to credit card chargebacks.

It is significantly harder for a consumer to dispute a debit card transaction compared to a credit card payment.  Lots of documents are required.  The process is time-consuming since it is up to the consumer to prove that a transaction was not authorized, the product was not as ordered. or a myriad of other excuses to attempt to get out of paying.     

If a debit card holder contacts the issuing bank within 2 days, liability is limited to $50 or $500 if the consumer disputes a payment within 60 days.  Waiting more than 60 days means that the debit card holder is responsible for the payment and that is the end of the story.  

Additionally, debit card processing rates are significantly lower than credit card payments.  Saving you money on cost of sales.


 

ACH Merchant Accounts for Coin Dealers and Precious Metal Merchants

ACH is the lowest cost method of accepting payments. There is no “interchange” involved in ACH processing as there is with card payments.  Therefore, rates for ACH merchant accounts are 50-80% less than card payments. 

ACH payment processing debits payments from consumer bank accounts.  Cleared funds settle to your bank account, like the way card payments settle.

Same day ACH debits are now available.  Speeding up clearing time for ACH transactions.  And allowing you to ship items faster. 

Businesses to business transactions can be disputed for only 3 days.  Consumers can dispute an ACH payment for up to 60 days. 

Still, ACH payments are very hard to dispute.  Consumers are required to visit their bank, swear out an affidavit, and provide proof that the transaction was not authorized.  This requires a lot of time and effort on the part of the buyer which many consumers are not willing to do. 

Other methods of accepting payments via echecks are also available.  Contact us today for more information. 


 

Fast Approvals for Precious Metals and Coin Dealer Merchant Accounts

NationalACH specializes in providing high volume payment processing accounts.  Get the payment processing capacity you need to manage and grow your business.

Applying for a merchant account is a straight-forward process.  You submit an application along with supporting documentation about your business.  Account approval takes 3-5 business days. 

Once approved, you can easily accept payments through all channels. 

Integrate payments with your website so customers can pay you online. Accept phone or mail orders by entering order details into a virtual terminal.  Accept payments from mobile phones or within apps.


 

Why Choose NationalACH for Your Precious Metal or Coin Dealer Merchant Accounts?

Put our expertise in high risk processing to work for you.  Below are reasons precious metal merchants choose us.

  • Competitive rates with fast approvals.
  • Free application with no obligation.
  • Extensive network of banks. Set up a single account.  Or diversify processing with multiple coin and precious metal merchant accounts. 
  • Superb customer from highly trained account managers dedicated to your success. 
  • High volume merchant account specialists. Get the processing capacity you need to grow your business.  
  • Fully compliant payment processing gateway exceeds standards for secure transaction processing. Military grade encryption protects your business and your customers. 
  • Free technical support. Get the help you need when you need it.
  • Fraud-fighting weapons & chargeback mitigation services safeguard your processing.

Let Us Work for You

Your Success is Our Mission

At National ACH, we’ve done our homework on payments. Use our expertise to get the payment processing capacity you need to manage & grow your business. Our “niche” market is high risk & high volume payment processing. Yet, standard risk merchants also benefit from our services. We are always happy to talk with you, with no obligation. Discover top notch service along with the iron-clad secure processing solutions you are looking for. Payments power your business success.

CHOICE OF MERCHANT SERVICES

National ACH is a one-stop-shop for all your merchant service needs.

Debit Credit Card Processing

High Volume US & International merchant accounts

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ACH Processing

Auto debits your customers’ bank accounts.  Electronically settles funds  to you

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Same Day ACH Credits

Money sent today is received today

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Echecks Processing

More flexible than ACH for high risk merchants

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Want to see NationalACH in action?

See a Free Demo

Contact us at 866-ACH-7600