The revolution of foreign merchant accounts, bringing a new dimension to business to combat the heavy burden of tax regulations and money lending. Yes, compared to the onshore merchant account, the offshore business offers huge advantages with its unique requirements. The bank account does not use restrictions and limitations like the standard onshore bank account.
Your ecommerce business is proven to be incomplete without having a merchant account as you cannot process card transactions, how can you complete the payment process without a merchant account. Many traders are still unaware of the benefits of an offshore trader account.
Features like multi-currency processing with reduced tax regulations and more can give you the glory of international trading with multi-currency processing. The bank account offers revolutionary services with 24/7 technical support.
Proven to be the most appropriate and advanced options for businesses processing high volume sales and foreign currency transactions of at least $50,000 per month. Apart from that, bank account provides credit and debit processing for your business with secure gateway and data encryption system, fraud prevention tool and management systems to avoid credit chargebacks. The accounts are tax-free and allow companies to sell the products at competitive prices from competitors.
Those businesses that conduct high-risk deals and are at risk of massive chargeback activity have tailored options to combat the chargeback burden. Also, high-risk businesses involved in gambling, adult entertainment, tobacco, bankruptcy attorneys, fantasy sports websites, and software downloads, offshore merchant accounts are the best options to meet their needs.
Offshore merchant accounts offer many benefits to merchants with a history of credit card chargebacks, high turnover and highly regulated industries – high sales volumes, unlimited transactions, fraud and chargeback management tools.
When you think about price and setup costs, yes, it’s high and slightly more expensive than an onshore merchant account. Comes with a high price and costly setup, but the transaction rate is also higher than on land. The account is for each business entity, the process is also simple and easy, but the only worrying thing is a high price. It is obvious that you have to ask for more and pay more.
There are many offshore merchant account providers all of which you will find on the internet with unique and advanced features for your business. They had earned an expert degree to obtain account approvals. You know all the costs and transaction fees associated with opening an offshore account. All you need is to own a foreign company and have a bank account in that company’s name. Opening such an account is not a complicated process. You can also apply for such accounts online, but first decide on a reliable service provider and the particular offshore bank you wish to open an account with. Check the background of that particular bank where you want to invest your hard income. Services such as privacy, security and tax benefits should also be your concerns.