Offshore Merchant Account FAQs: Understanding the Offshore Account Option
Many people who are faced with having to obtain a high risk merchant account are seeing the word ‘offshore’ and the various offshore merchant account providers that are available. Too often, this term can scare people or make them question what they’re getting involved in. After all, when you hear about ‘offshore’ services and accounts, it’s usually related to crimes involving money. However, an offshore merchant account will provide you with the payment processing options that your business needs no matter what type of business you have. Here are some things to know about offshore merchant accounts:
Are offshore accounts safe?
Yes they are. They provide you much more security and keep the account provider safe, as well. This type of account will also protect customers more than a standard merchant account. Having a high risk merchant account often seems like a curse, but is actually a blessing in disguise because everyone involved will be better protected from security threats, fraud, and other complications.
Which merchants have to have an offshore merchant account?
High risk businesses, start-ups, high volume merchants, online businesses, international companies, and other companies are required to have a high risk merchant account. That account usually comes from offshore providers simply because of the nature of the account.
Do I have to have good credit?
No. Most offshore merchant account providers have a 95-100 percent approval rating for all customers, including those with bad credit. Therefore, all that you need to have is a business and the ability to apply.
If I have an offshore account do I need an offshore office?
No. Your presence can remain as is, and the only part of your operations that will be non-domestic will be your payment processing.
How much does it cost to have an offshore high risk merchant account?
The rates for your high risk merchant account will vary significantly from one company to the next. These rates will depend on the type of account you need, the level of risk you pose, and the type of business you have. Once you fill out an application with a merchant account provider, you will usually be provided with an accurate rate schedule.
What payments and forms of currency are accepted by offshore merchant account providers?
Payments are accepted in the form of all major credit and debit cards, as well as ACH transactions when you request them to be a part of the package that you get. Currencies that are accepted through offshore accounts include USD, EURO, and the GBP as well as many others. Basically, the point of the offshore account is to give you more freedom to accept multiple currency payments and various methods of payment as well.
If you would like to learn more, or have any other questions about high risk merchant accounts and offshore account alternatives, you can contact us at any time to discuss your needs.
High Risk Credit Card Processor specializes in High Risk Merchant Accounts, High Volume Merchant Accounts and Offshore Merchant Accounts. High Risk Merchant Accounts include such industries as mail order, telephone orders, adult entertainment industry, direct marketing industry, dating, online dating and escort services, outcall services, travel, telecom, timeshares industry, herbal supplements, diet companies, subscription services, membership services and clubs, ticket sales, MLM merchant accounts, multi-level marketing businesses, bail bonds, pawn shops, water filtration systems merchants, collection agencies, auto rental companies, rare coin and collectible shops, computers, custom design products, software sales and service, detective services, door to door sales, massage parlors, gun shops, hair restoration services, cosmetic surgery, high-end ticket sales, high volume merchant accounts, home based and telecommuting businesses, fortune tellers, infomercial merchant accounts, insurance products, investment products, custom jewelry sales, multi level marketing, MLM organizations, phone sales, internet businesses, seminars, educational institutions, sports collectibles, used auto sales, water purifier sales, weight loss centers, vitamin and herbal supplement stores, international merchants, companies facing high chargebacks, etc.
For additional information about this article or about obtaining High Risk Merchant Accounts, please call 877-460-8472 or email info@highriskcreditcardprocessor.com.
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