High Risk Offshore Merchant Account

What is a high risk offshore merchant account?

A high risk offshore merchant account is a merchant account that, for starters, is offshore. This means that the merchant account is not based in the United States, but elsewhere - perhaps in China, Europe or even the Netherlands or far reaches of Africa. What makes a high risk offshore merchant account high risk can be high volume sales, excessive chargebacks or the risk of them, fraud, the business owner having no credit history or poor credit history, or the nature of the business itself. While offshore merchant accounts are typically more lenient in regards to business types and financial related matters, there are always risks, which is why there is such a thing as a high risk offshore merchant account.

What businesses qualify for a high risk offshore merchant account?

There are several types of businesses that will almost always qualify for a high risk offshore merchant account. One such business is anything adult in nature, such as adult entertainment (strip clubs, escort services and brothels, to name a few specific categories). Other businesses that are labeled as high risk and thus qualify for a high risk offshore merchant account are online pharmacies, online casinos, e-cash agencies (such as cash advance companies that do business online), travel agencies, and the companies that do the bulk of their business via infomercials.

What can a high risk offshore merchant account do for me?

A high risk offshore merchant account can enable you to accept and process credit card and debit card transactions. With a high risk offshore merchant account, you no longer have to turn away customers and potential loyal and repeat customers that wish to pay with a credit card, rather than cash or a personal check. In addition, a high risk offshore merchant account will always offer you the same level of service, satisfaction and guarantee that a regular merchant account will. These features and benefits include the ability to process credit cards, tax friendly solutions, customer service and easy transaction management.

How does a high risk offshore merchant account work?

A high risk offshore merchant account works much like other types of merchant accounts do. You apply for a high risk offshore merchant account using the same information you would use for a regular merchant account - your business name and information, pictures and details of its location, if applicable, and your own information, including proof of identity, bank account information and statements, and tax history. Once the high risk offshore merchant account is approved and set up, you will receive credit card processing equipment in order to process credit cards face to face, or over the phone or internet. The money will be deposited into your bank account on scheduled deposit dates, which the provider of your high risk offshore merchant account will tell you about at the time of initial setup.