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What are the requirements to setup a merchant account?

To setup a domestic or US based merchant account a merchant must have a physical location within the US and an American checking account. Once these conditions are met a merchant can apply for a domestic merchant account. If these conditions cannot be met a merchant must use an offshore merchant account.

Application Requirements for all businesses:

Physical Location in the US.
Checking account with an American bank in the name of the business or the merchant account signer.
Explanation of business type (ie: LLC, Corporation, Sole Proprietorship, etc.).
Federal Tax ID Number (EIN).
Owner or Merchant Account signers SSN.
Owner or Merchant Account signers address information.
Product or Services being sold information.
Exchange and Refund policies.
Intended method of accepting transactions (ie: swipe, internet, keyed, etc.).
General business location type (ie: Shopping Center, Home Based, etc.).
Copy of a voided check from merchants checking account.

Additional Requirements for some businesses:

Marketing material (ie: business card, brochure, advertisement, etc.).
State or Federal Business License.
Proof of business existence (ie: phone bill, utility bill, etc.).
Proof or financial stability (ie: profit and loss statements, bank statements, etc.).

Requirements for all internet businesses:

Active website with DBA of website listed on application.
Product delivery methods and timeframe clearly stated on website.
Product prices in US dollars.
Privacy Policy listed on website.
Customer Service telephone number listed.
Secure checkout system.
Domain name registered to merchant.