If you’re planning a business and considering selling your products or services online, then you will need a merchant account. A merchant account is a must to accept payments through online transactions. Now, while you explore the available options, consider opening an offshore merchant account. It can established with a foreign bank. Just like your home bank accounts, offshore accounts can offer considerable advantages. However, please note that there are a few offshore banks which might require establishing an offshore company and/or opening offshore bank accounts before establishing your offshore credit card processing.
- Offshore accounts enable you to accept multiple currencies. You can receive payments from almost any part of the world
- If you are a host of high risk business then considering offshore accounts will help you have less trading restrictions
- With offshore banksyou can have numerous transactions as these banks do not put a cap on how many transactions you can process in a month
- All major credit and debit cards are accepted
- Receive payments and do transactions 24×7
- Get access to multi-currency processing
- Higher Chargebacks allowed
Generally, anyone can open an offshore bank account. Depending upon the jurisdiction, with just a few documents you can open an offshore account within a day. You just need to have a good research to choose the bank that fits your specific needs.
Lastly, working with a reliable merchant account provider enables your business to deliver latest and outstanding services to your customers and provides numerous opportunities for your business to excel