Offshore Merchant Accounts FAQ

Any type of business can establish an offshore merchant account. Many companies that are not considered high risk set up offshore merchant accounts to save money on payment processing, diversify accounts and mitigate risk, or to gain access to more favourable business conditions or different regulatory environments.

For direct accounts with international acquiring banks, incorporation in the country in which the bank is located is required before the start of payment processing. An offshore corporation can be established quickly, easily, and inexpensively after the merchant account is approved.

Your offshore merchant account is established directly with the acquiring bank. The banks are among of the largest international financial institutions in the world and your money is quite safe.

Businesses need at to present current payment processing history for the past 6 months. No start-up companies are accepted.

Yes. Merchants with direct merchant accounts with offshore acquiring banks have unique merchant ID numbers and descriptors.

Yes. Recurring billing capability is included free with every offshore merchant account. Recurring billing allows merchants to create a automated billing schedules for subscription or other recurring transactions.

Accounts are established for merchants throughout the world, with the exception of countries on the international terrorist list.

A payment gateway is the secure network that links a merchant website to the secure banking system. Payment gateways provide the necessary secure infrastructure that enables merchants to electronically process payments.

The merchant interface or dashboard is a password-protected site that allows merchants to manage transactions, change security and account settings, generate reports, and control merchant account processing.

Standard reserves for offshore merchant banks are between 5-10%. Reserves can be renegotiated after payment processing history has been established with the bank.

Approval on accounts takes 3-5 business days after application and supporting documents are submitted.