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      Underwriting FAQ
      • 24 Feb 2025
      • 2 Minutes to read
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      Contents

      Underwriting FAQ

      • Updated on 24 Feb 2025
      • 2 Minutes to read
      • Print
      Article summary

      Excited to start processing payments with Helcim? We are too! You might have zipped through our signup and now be wondering about 'underwriting'. Or perhaps you've been asked for some extra business details and want to know why.

      This FAQ article explains it all. We know underwriting can sometimes seem unexpected, but we want to be upfront about why we do it, what to expect, and how it helps your business. Let's explore credit risk underwriting together.

      In this article

      What is credit risk underwriting?

      Think of underwriting as a way for us to get to know your business better. It helps us make sure your payment processing goes smoothly. We want to understand your needs and be prepared for any bumps in the road, like chargebacks.  

      Our goal? To create a secure and reliable processing setup so you can focus on what really matters: growing your business.

      What is credit risk?

      Here's the thing: Helcim funds transactions pretty quickly. You get your money soon after a sale. But sometimes, customers might dispute a charge, even months later. Because of this, Helcim takes on some financial risk.

      Underwriting helps us understand your business's finances and how you operate. It's about reducing risk and making the payment experience more reliable for everyone.

      Will my business need an underwriting review?

      Not every business needs a review. We consider a few things, like:

      • Processing Volumes: Are your transaction amounts or monthly sales higher than average?

      • Industry Chargeback Risk: Do you operate in an industry where disputes or chargebacks are more common?

      • Information Needs: Sometimes we just need a little more information about your business.

      Reviews might happen when you first sign up, or we might do them later as part of regular account check-ins.

      What should I expect during underwriting?

      If we need a review, one of our Credit Risk Analysts will get in touch. They might ask for some information, such as:

      • What your processing needs are (like typical transaction sizes and monthly volumes)

      • Details about your business

      • Your return and refund policies

      • Your shipping information (if applicable)

      • Financial documents (like recent financial statements, bank statements, or statements from your previous processor)

      If you're having trouble providing certain documents, let's discuss alternative solutions together. We're committed to finding a process that works for you.

      How long does underwriting take?

      Underwriting usually takes just a day or two. The faster you can get us the information, the faster we can wrap things up.

      What are the possible results of the underwriting review?

      Most reviews are quick and easy. Often, you can start processing payments right away.

      Sometimes, we might need to reach out to you and talk more about the specifics of your business. These conversations are always collaborative – we're here to help you succeed with Helcim.

      Will there be more reviews in the future?

      Yes, there’s a chance Helcim could do periodic account reviews. This helps us stay connected and make sure your account setup is still meeting your needs as your business grows.

      Next Steps

      Have more questions about underwriting? Our support team is always happy to help! Reach out to us with any questions you may have.

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