Yes, they can but banks do have a higher standard for approval and do not generally like new businesses. It’s widely suggested to obtain a merchant account with a company that specializes in offering merchant services. These organizations, known as Merchant Service Providers (MSP), specialize in providing merchant accounts for new businesses. MSP’s usually have less strict approval requirements, and often have lower fees, better understanding of risk issues and better customer service departments that focus solely on handling inquiries about merchant accounts.
