Businesses that are high risk, have higher chargebacks, potential for fraud and a higher sales volume fall into the “High Risk” category. Merchants with high risk businesses have difficult time getting accepted with acquirers and credit card processors. Many local merchant account providers are not willing to take the risk and are prohibited by local laws and regulations.
Businesses related to industries like Forex trading, online pharmacies, Nutra, replica products, gambling and casino providers, sports wagering, online tobacco business, online dating, computer hardware, software, debt services, hosting, and email services, etc. are all considered high risk. The primary reason for banks and credit card processors turning down these high-risk merchants is the type of business their involved in and the high sale volumes. Because these businesses are high risk, there is always a chance that turnover will be high, and the merchant account could be closed down due to this or high chargebacks.
Also Running an eCommerce business without a shopping cart is next to impossible. So, you need a high-risk merchant processing service provider whose services will enable you and your customers to process transactions online. With the internet fraud on the rise, make sure that your high-risk merchant account provider is also offering you online fraud protection with scam control and SSL encrypted servers so that you can process the payments without any worries. Automated recurring billing, online reporting, dependable infrastructure, 24/7 customer support, multi-currency processing, and major credit and debit card acceptance are just a few of the significant benefits that your high-risk merchant account provider should offer.
In conclusion, when you partner with a reputed high-risk merchant services provider, your high-risk business becomes capable of thriving, and this will help you generate bigger and better revenues.
With an increasing number of crypto OTC trading services providers in the market, how do you know which one is right for you? Here’s what you should look for when comparing your options:
- How does the service provider store their clients’ funds? Do they work with a licensed and regulated brokerage firm? Do they have any protective measures (such as ring-fencing all funds in the client’s sub-accounts) in place? The answers will determine whether your funds will stay safe and secure with them.
- Make sure you know the amount you will be charged to set up your OTC bitcoin trading account, as well as the amount you will be charged for each trade. Most reputed crypto OTC trading services providers offer account setup at no additional costs.
- How’s the sign-up process like? What are the requirements? Every good service provider should request relevant KYC documents to complete the merchant’s verification.
- What about customer support? Will they provide you with personalized support and assistance every step of the buying/selling process? Is it easy to get in touch with a representative of the company should you have any questions or problems? If it’s not, look elsewhere. A crypto OTC trading services provider that can’t be counted on to resolve your queries can’t be trusted for handling your funds as well.
- Once you selling your crypto position can you funds be easily wire out without extensive KYC or excuses.
- How long have they been in business? Don’t work with a service provider with less than five years of experience under their belt.
By taking these factors into account, you will be able to make a more informed decision when choosing your crypto OTC trading services provider.
If you are planning on buying or selling large quantities of Bitcoin (BTC) at once, you probably do not want your trading to be at the mercy of a traditional exchange. You want a trading route that protects you from the slippages as well as the risks of hacking and theft that come with conventional cryptocurrency exchanges.
Can over-the-counter (OTC) trading be that route for you?
Although a good majority of crypto market observers tend to swear by traditional (on-exchange) volumes as the key metric by which to measure Bitcoin trading activity, the over-the-counter market is an even larger underbelly that often goes unnoticed by anyone but those involved in it.
The term “OTC” is not unique to the realm of cryptocurrency. It exists in the world of traditional finance as well, and simply refers to a method where trading is done outside the periphery of the public eye, without the supervision of an exchange. In plain English, Crypto OTC trading is a service available to large-scale traders (high net-worth individuals or institutional traders) who want to get a faster settlement of large trades and quicker access to their funds than exchange-based transactions.
What’s the takeaway for you?
If you are a trader who wants to execute large orders of BTC quickly, conveniently, and privately, going OTC by using a trusted broker might be your safest bet. OTC Bitcoin trading offers you quicker trading times, ideal liquidity, price protection and anonymity, making this the absolute best option for buying and selling large quantities of cryptocurrency.
Firstly, an offshore merchant account, as the name specifies, is essentially a type of account underwritten by a bank allowing e-merchants to process transactions in a non-resident country. The term is also interchangeably used with International Merchant Account. If you have an online business and want to accept payments on a global level, this is a good place to start.
However, having an international merchant account has its advantages as well as disadvantages. So, let us look at these:
- You have a broader selection of banks, and the application process is hassle-free.
- You can accept payments in multiple currencies.
- You will have real-time updates of your transactions, plus your information remains absolutely confidential.
- You can efficiently market your business globally and expand the customer base.
- As compared to onshore accounting, taxes on offshore merchant accounts have comparatively lower rates.
- Offshore merchant accounts are particularly helpful for online e-commerce businesses creating a more favorable business climate to operate in.
- High-risk merchants operating in such businesses as online casinos, pharmacies, and forex have higher chances of approval.
- There is no cap on the monthly dollar value and the number of monthly transactions, which helps expand company profits and achieve maximum potential.
- All major credit cards are accepted to process payments in various currencies.
- Offshore Merchant Accounts are more flexible and approved even for businesses with bad or no credit history.
- The time difference may be one pitfall of having an international merchant account.
- Transaction rates are usually higher as compared to domestic banks.
- Sometimes, a representative has to travel to the offshore jurisdiction to open the account.
- As accounts are offshore any disputes that can arise may make it harder to legally resolve.
Of course, the advantages outweigh the pitfalls of having an offshore merchant account. However, you must carefully weigh the pros and cons before opening an offshore merchant account to avoid any negative consequences at a later stage. The offshore banking sector can be a bit overwhelming and confusing, however, if you find a reliable provider to cater to your business needs offshore merchant processing can have huge benefits to your business.
If you have an online business and wish to offer merchant account services such as credit card processing as a method of payment to your customers, you surely need a merchant account. From more start-ups to giant enterprises operating offshore or online, every business requires having their own merchant account to take payments through credit cards.
A merchant account is currently the most cost-effective way of accepting payments through credit cards from the customers or clients. In other words, a merchant account is an arrangement between you and a credit card processor that allows you to accept credit card payments from your customers. After the sales are complete all those payments are then deposited into your bank account.
Now, basically there are two types of merchant accounts. A merchant account for card-present transactions and a merchant account for card-not-present transactions. Both the types have their own significance and usage. Now, depending upon your business model and specific requirements you can choose the suitable one. Some merchants or online business owners need more than one merchant account, especially if they have diversified their business. You can also take help of a merchant account service provider if you are not sure which merchant account type will best suit your business.
Now, regarding setting up a merchant account, look for a merchant account service provider who can help you avail valuable services specific to your business need. A reliable service provider will assist you in choosing the bank of your choice and other merchant account services. Remember, a merchant account service provider can help you get the best deals due to the huge database and expertise.
If you are an online merchant looking for ways to accept credit card payments for your online business, then there can’t be a better way than setting up an offshore merchant account. Not a single business today is complete without a merchant account. It allows business owners to process credit card transactions. However, an offshore merchant account has many advantages.
Offshore Merchant Account vs. Local Merchant Account
The foremost difference between an offshore merchant account and a local merchant account is very simple. An acquiring bank that provides offshore merchant account services resides in offshore country whereas in local merchant account the bank is located in the same country as the merchant.
Offshore Merchant Account Advantages
Offshore banks have fewer trading restrictions, making it easier for online merchants working in both low and high-risk industries such as computer services, IT tech support, etc. Additional advantages of getting an offshore merchant account are listed below:
- Offshore Credit Card Processing: The offshore IBC services enable you to accept payments in multiple currencies. By processing credit card transactions offshore, you can accept payments in almost any currency.
- No Transaction Volume Caps: Usually offshore banks do not put a tab on how many transactions you process in a month. This enables your business to maximize profits and reach its full potential.
Lastly, there are more advantages other than the above-stated which makes an offshore merchant account the right solution for any merchant looking to process credit card payments online. Hiring a merchant account service provider can help you avail all the available benefits of offshore merchant account.
A high-risk merchant account can sometimes sound too intimidating.If your business gets certified as high-risk, you will be denied from availing normal merchant account services. Now, high-risk doesn’t necessarily mean your business process or model is risky, sometimes your merchant account can fall into a high-risk category if your volume or average transaction total is high. However, here are a few ways to help your merchant account stay protected from becoming high risk.
Good account history-Maintaining a well-established business with a long credit card processing history is one of the most effective ways to prevent your merchant account from becoming high-risk. Maintaining a strong credit rating and keeping off the TMF list ensures that your account won’t become high risk and is also helpful as all reputed offshore banks are ready to provide you their services.
Secure processing-Use a strong and reliable payment service providers for your online transactions. Having a reputed service provider to process your transactions reduces much of such risks. Secure processing is a very vital tool to protect your account from becoming high-risk merchant account.
Picking the right one-Picking up the right service provider is one of the easiest and trusted ways to prevent a merchant account from becoming high-risk. A reliable merchant account service provider will advise you what to choose and what not to do, so that, your business doesn’t fall into the high-risk category.
Lastly, although there are high-risk ACH merchant accounts and ACH processing services available for high-risk businesses, if there is a chance, then it is better to prevent your merchant account from becoming high-risk rather than suffering from it.
When you are looking for ways to run an online business, take credit card payments and manage your money, an offshore merchant account is the best way to do so. Offshore merchant accounts offer an easy and reliable way to process low and high-risk businesses alike. Offshore merchant services such as credit card processing prove to be very beneficial if you have a high risk of chargeback.
Apart from this, offshore merchant accounts have numerous advantages. Offshore merchant solutions can include onshore e-checks bank transfers, credit card processing help you in increasing your consumer coverage and eventually, drive in more traffic for your business.
Also, being able to accept multiple currencies is a huge advantage while dealing with consumers from across the globe. This helps you in evolving your e-commerce business. Offshore merchant accounts set up in a particular jurisdiction that is targeted by your online business can prove to be exceptionally convenient.
Also, unlike domestic accounts, you have thousands of offshore banks available to choose according to your specific requirements. With thousands of worldwide offshore banks, you just need a thorough research and you are guaranteed to get the best deal that perfectly suits your requirements.
However, there are many people who think domestic merchant account are better but, on contrary to this, offshore merchant accounts integrate all the advantages of a domestic merchant account and being offshore they offer even more advantages. Offshore merchant accounts are practical and easy to acquire and are also great in terms of availability which is making them quite popular anda perfect choice for a new and experienced merchant alike.
Competing with larger businesses with greater resources is one of the biggest challenges often faced by small businesses. And, accepting credit cards is one of the proven and tested methods to level the competition and increase the sales. According to Federal Reserve, around 70-80 percent of consumers have at least one credit card. So, for small business which doesn’t plan to remain small for a long time, accepting credit card payments is a vital tool to grow. Since every small and big business leave no stone unturned to offer the superior customer service expanding their payment option to include the debit and credit card processing is a no brainer.
Apart from this, accepting credit cards payments not only provides an ease for consumers but is also beneficial for merchants. Credit card transactions save a lot of time and foster shorter transactions. Shorter transaction times means as a merchant you can serve more customers more efficiently. And, at the end of the day, you can send all your transactions in one batch to your credit card processor for electronic settlement. Credit card processing with a reputable merchant services provider is a very secure operation. Merchants who accept credit cards also usually see an increase in their sales and profit. The reason behind this is simple – credit card shoppers tend to spend more than shoppers who pay with cash or a check.
On a closing note, today’s merchant processing services such as credit card processing is fast, convenient and secure. For a small business, being able to accept credit cards is the smart way to go and grow. The only thing you require as a merchant is a reliable merchant processing service provider that offers you services to meet all your requirements.
To know more visit: http://confidentialbanking.com/
Despite what you may hear, offshore incorporations and offshore banking are completely legal. It is snot just about the tax evasion or other illegal activities. Setting up an offshore bank account is simply about legally diversifying your political risk by putting your hard-earned savings in sound and well-capitalized institutions or banks that offer safety and flexibility with your business dealings.
It is a no secret that it is becoming harder to set up an offshore bank account. Sooner or later, it could be impossible. Even if you don’t have any plan to use the account immediately, this is a strong incentive to act sooner rather than later. Offshore incorporation is a prudent step which makes sense no matter what.
Why you need an offshore bank account today?
An offshore bank account is similar to your home bank account. An offshore bank account is simply a bank account that you have in a country out of your residence. It has a wide range of benefits such as
- Dilute Your Political Risk- Today; the biggest threat to your savings isn’t the market risk. It’s your own government.
- Asset protection- An offshore bank account also protects you from your home government agencies that are armed with the power to freeze your assets in special situations.
- Currency Diversification- Holding foreign currencies is a great way to diversify your portfolio risk, protect your purchasing power, and internationalize some of your savings.
- Confidential banking- hold your assets in privacy.
- International trading-Allow yourself more great freedom and flexibility with your international business
In conclusion, look for a reliable merchant account service provider to set up your offshore bank account today and avail its many benefits.
To know more visit: http://confidentialbanking.com/