Offshore Merchant Accounts

A high risk offshore merchant is an individual who operates a high risk commercial enterprise and for that purpose he requires to have a high risk merchant account. Since such an account may not be provided by any of the existing financial institutions within the country, the merchant may have to open it in some other country and this account is referred to as a high risk offshore merchant account.

The high risk offshore merchant account is offered by offshore banks which do not impose too many account restrictions as may be placed by the native banks. These accounts are tax-free in nature, are available round-the-clock for trading which can involve a number of currencies and also grant offshore benefits to the merchant.

High risk offshore merchant account is convenient since all that is required is the possession of an offshore trading company and a bank account in the name of the same company. However, due to the nature of the business the initial set-up cost along with the discount rate and the transaction fees is higher and one also needs to be prepared to make a cash deposit upfront or submit information as regards an ongoing cash reserve.

A trader who possesses a high risk offshore merchant account stands to benefit from it in a number of ways like tax, security, privacy and multi-currency international trading. In addition, the merchant can make a settlement in the currency of his choice and there are absolutely no restrictions in terms of the number as well as the size of transactions.

High risk offshore merchant accounts are generally the domain of the wealthy as well as the international businesses and while choosing an institution for opening this account the important criteria for the merchant are the credit rating of the bank, confidentiality and straightforward procedures.

Likewise, the offshore banks also have certain yardsticks which have to be met by the merchant prior to opening of the account. The first yardstick is the nature of the business as well as its potential for future growth and the second yardstick is the determination of the risk in terms of charge-backs, legal violations and financial liabilities to be incurred by the bank.

Sometimes a business owner may be fortunate enough to come across a golden opportunity for opening a high risk offshore merchant account with very low transaction fees. Although such offers are very rare, they can prove to be the requisite foundation for a successful commercial activity as they provide all the facilities without charging any fees.

An offshore merchant account is a banking venture which moves hand in hand with the foreign banks where the local revenues are excused. The merchant or the business corporation seeking an offshore account should be registered or branded before opening the account. The offshore merchant processing is a pattern of merchant account which are specialized in dealing with the high risk credit card transactions and processing. It is also included under the out sourcing activities which help in banking all over the world without limitations or restrictions in any countries.

An offshore merchant account, by attracting a wide range of customers provides the most easily accessible and available means of services thus aiding both the service provider as well as the clienteles. The revenue exemption criteria, flexibility, easiness in the opening of an account, and  faster approvals makes an offshore merchant account more favorable and accessible to the traders and large scale companies.

While opening an offshore bank account certain vital components should be kept in ones mind. One should be knowledgeable about the banker, with whom he is being dealing with. The bank should hold a transaction license of e-commerce for at least a number of years and also try to avoid banks of countries with any external or internal administrative affairs. as it could lead to vulnerable funds.

One should also thoroughly go through the policies and terms and should clarify all the each statement. Also it will be better to seek the advice of tax advisers in order to secure the transactions more clearly. An offshore merchant could effortlessly succeed in his business activities by selecting relevant bankers. Certain  banking laws and jurisdictions enhances easy business reporting, auditing and settling of financial records thus helps the traders or the business man to conserve money ,time and energy.

Many of the international banks provide best services to their customers especially to the offshore merchant account holders. This ease in the opening of the account and the secure services provided by various banks makes the offshore merchant account more familiar to the businessmen.

On the contrary an offshore merchant also creates much risk and threat if  not carefully dealt. The physical absence makes it difficult for the vendor to go through the money operations. The merchant also fails to oversee the details regarding the card, correctness of transactions, ownership identity and also about the matching of signature with that in the card. This will certainly increase the chance for illegal money transactions and corruptions especially when it deals with betting web pages and pharmacy trading.

Besides many pros and cons, the offshore merchant account certainly direct towards a successful future for the traders through its easy accessibility, minimal transaction charges and its bulky profits.

An offshore merchant account is a banking venture which moves hand in hand with the foreign banks where the local revenues are excused. The merchant or the business corporation seeking an offshore account should be registered or branded before opening the account. The offshore merchant processing is a pattern of merchant account which are specialised in dealing with the high risk credit card transactions and processing. It is also included under the out sourcing activities which help in banking all over the world without limitations or restrictions in any countries.

An offshore merchant account, by attracting a wide range of customers provides the most easily accessible and available means of services thus aiding both the service provider as well as the clienteles. The revenue exemption criteria, flexibility, easiness in the opening of an account, and  faster approvals makes an offshore merchant account more favourable and accessible to the traders and large scale companies. While opening an offshore bank account certain vital components should be kept in ones mind. One should be knowledgeable about the banker, with whom he is being dealing with. The bank should hold a transaction licence of e-commerce for at least a number of years and also try to avoid banks of countries with any external or internal administrative affairs. as it could lead to vulnerable funds.

One should also thoroughly go through the policies and terms and should clarify all the each statement. Also it will be better to seek the advice of tax advisors in order to secure the transactions more clearly. An offshore merchant could effortlessly succeed in his business activities by selecting relevant bankers. Certain  banking laws and jurisdictions enhances easy business reporting, auditing and settling of financial records thus helps the traders or the business man to conserve money ,time and energy. Many of the international banks provide best services to their customers especially to the offshore merchant account holders. This ease in the opening of the account and the secure services provided by various banks makes the offshore merchant account more familiar to the businessmen.

On the contrary an offshore merchant also creates much risk and threat if  not carefully dealt. The physical absence makes it difficult for the vendor to go through the money operations. The merchant also fails to oversee the details regarding the card, correctness of transactions, ownership identity and also about the matching of signature with that in the card. This will certainly increase the chance for illegal money transactions and corruptions especially when it deals with betting web pages and pharmacy trading.

Besides many pros and cons, the offshore merchant account certainly direct towards a successful future for the traders through its easy accessibility, minimal transaction charges and its bulky profits.

When you hear the term, Offshore merchant account, or just the word offshore, what initially comes to your mind? Suspicious. Somewhat illegal. Sounds paranoid, isn’t it? Don’t worry. It’s just but normal to be cynical about this. We have watched in movies businessmen being arrested because of having a “hidden” offshore merchant account. But in reality, an offshore merchant account isn’t as bad as it seems.

The baseline

First, let’s get to the basic premise of an offshore merchant account. If you are engaged in an business that fall under the categories of travel, online gaming, online pharmacy, adult website, outbound telemarketing, escort service, etc., then, an offshore merchant account is a feasible option for you. But, actually, no matter what kind of business you have, setting it offshore is always a feasible option. Emphasis are given to the afore-mentioned types because they are considered high-risk businesses by domestic banks.

Preconceived notions

Talking about high risk, this is one of the myths surrounding offshore merchant account. Some say that opening up one is a risky step. One of the reasons seen is that you opt to make transactions with foreign banks. Foreign , being the operative word, smells like anonymity or hidden from the public eye. Clearing this, an offshore merchant account is not actually a secret account. You just have a privacy option. Domestic banks also have the same clause for you to check if you want to keep your account private in a certain level as well.

Another gray area regarding an offshore merchant account is that it is a way to escape tax obligations. In certain cases, you may be lured to the promise that there are super-low or virtually no U. S. taxes due on your account for the reason that you will use a separate offshore- company (your company) to handle your credit card transactions for you, o r that you;’re not actually the owner, you just manage it, or that no taxes are owned on offshore trust incomes.

The reality is you may be be able to hold over taxes until you declare your offshore earnings, but the watchful eye of the Internal Revenue Service (IRS) is just computing on the shadows on how much you actually are liable to. You will not be able to legally set aside taxes without assuming an investment risk or make a total surrendering of your control over your assets. It is a complicated process that entails legal action from a legitimate financial consulting firm. Bottom line, taxes are an inevitable part of life. Every working citizen pays taxes.

Changing the impression

Setting up an offshore merchant account may seem tricky to most, to get a better perspective, get the services of a merchant account provider. They have an established network of foreign and yes, domestic banks, to help you set up a merchant account. This move will help you be more knowledgeable of the inner workings of an offshore merchant account.

They say, what you don’t know won’t hurt you. But, at the end of the day, knowing what really happens makes you feel connected to the world, in the case of an offshore merchant account, what you know will not hurt you as well.

Offshore is becoming the banking trend nowadays. Merchants are becoming more aware of the endless possibilities to reach a worldwide market. What lures them to divert from their local banks to opening up offshore merchant accounts?

Results of applying for an offshore merchant account are hours away. The application forms are available over the their websites so it saves time to scour for the avenues to submit your application.

Choices for competent banks are endless. We’re not only talking about US banks but foreign banks from countries drawn on the world map.

You can securely accept payments on your offshore merchant account through the advent of internet payment gateways. This also enables you to simultaneously take in payments in different currencies.

Deposits made into the account are updated real-time. Definitely suits your need for speedy and accurate information regarding your offshore merchant account.

You also have a worldwide reach to potential customers. Since you are operating on an offshore merchant account, marketing is also of global scope as well.

The saying,” Nothing is permanent except death and taxes”, applies to all, and, yes, to merchant accounts as well. But setting it offshore will definitely reduce your tax responsibilities. fees are reduced to a considerable portion.

Banking guidelines and policies are also a major turning point in offshore banks, they tend to be less strict starting from the application. They entertain virtually almost all inquiries from all over the world, regardless of past business performance or shaky credit rating. Criteria for approval are clear and concise that’s why you can expect for immediate results. Plus, they don’t require initial or security deposits compared to domestic banks. Expect results as fast as 24 hours and a week to set up the actual offshore merchant account.

Your options for the perfect bank to cater to your merchant account needs are limitless. They may be offshore, but these banks are established that’s why they have the resources to go international. Competition is less stiff than domestic banks. They adjust to your needs, you don’t compromise your merchant account desires.

Security is everyone’s concern. Offshore is not synonymous to hidden, the information is just located on foreign territory, still virtually open to verification. When you have an offshore merchant account, you can accept credit card payments over the internet. Once this happens, then you can actually sell your products online as well, thanks to the advent of shopping carts.

The products are displayed online and a payment gateway to purchase the product of the customer’s choice is next to the display. This payment gateway will ask for the credit card account number and then immediately process the transaction like a normal domestic credit card transaction. In a matter of minutes, the customer will know if the transaction was approved or rejected. The payments gateways have multiple security protocols but on a faster pace.

Access to your offshore merchant account information is also convenient. After passing critical verification, you can check on the state of your account round the clock. Thus, liberating yourself from waiting for business days to actually check on your account’s performance

Reduction of taxes become possible by using a separate offshore-incorporated company (your company) to handle your credit card business for you. Taxes are actually cut down by 15% and in some cases, to 0%.

The benefits you can get from the offshore merchant account bandwagon are countless. Once you’re in it, you’ll realize that it’s one of the best merchant strategies you ever ventured into.

The aim of most businesses is to continuously increase their client base.Thanks to the Internet, this can be easily achieved by going online,Most online businesses aim to go global to sell their products and services in every person around the world regardless of the time differences. Therefore, a client based in Italy can buy from a store that is based in Dubai through the Internet,The Internet really has made the world smaller.

Online payment

When a consumer goes online,he or she has the choice of purchasing a product or a service.After making the order, the consumer will now make the payment. What payment options are offered by the offshore online business? This aspect is very important.If a business wants to offer its products or services globally, it must be equipped in processing financial transactions made by people from all over the world.

First,it is important for the offshore business to accept a wide range of credit and debit cards,thats why offshore merchant accounts are provided,You will never know what specific type of card the consumer has,Second, the payment portal must be able to make multi-currency transactions. Whether the consumer is paying in euros, dollars, or yen, the portal must be able accept these payments.And third, the offshore business must be secure enough to guard against hackers,This is a very important aspect because consumers will be supplying their financial details to make the payment.These details must stay confidential.The offshore business must be able to ensure them that its payment system is highly secured against any possible hacking.

Offshore merchant accounts

If you are an offshore business owner,how can you address these needs regarding payments? The answer is to obtain an offshore merchant account.The offshore merchant account will facilitate the processing of online financial transactions.It is equipped with high-quality software that will enable an offshore business to process large volumes of transactions every day of the week for 24 hours and without disruptions.With offshore merchant accounts, there is no limit with the number and size of financial transactions that can be processed online.And you will not be afraid of the system shutting down while a transaction is being processed.All online financial transactions are processed accurately and in real-time.Another advantage of offshore merchant accounts is that it minimizes the tax liability of business owners.And to reduce the high probability of fraud, merchant account providers have also included fraud protection in their offshore merchant services.

Where can you get an offshore merchant account?

HR Merchant Services is the leader in merchant account services,We have a team of efficient and competent people who will help you in getting an offshore merchant account. Our years in the industry have enabled us to provide excellent services and products with prices that are lower than our competitors. Our expertise is to provide targeted solutions for your specific needs.

Are you ready to conquer the world with your offshore business? Come to HR Merchant Services for your offshore merchant account.