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High Risk Merchant Accounts
What is the difference between an international merchant account and an offshore merchant account?
What is a high risk merchant account?
How do you apply?
How long will account approval take?
What is the application fee?
What are the requirements?
How much monthly processing volume will you have?
Do high risk merchant accounts require reserves?
Where is a high risk merchant account located?
What are the settlement times?
Do you have to be a high risk merchant to qualify for an international merchant account?
Do you need an offshore corporation to get an offshore merchant account?
Is your money safe in an offshore merchant account?
How do at which bank my international merchant account will be established?
What are the rates?
International Merchant Accounts and Offshore Merchant Accounts
What is the difference between an international merchant account and an offshore merchant account?
There is no difference. International merchant accounts and offshore merchant accounts are used interchangeably. Both terms simply signify accounts that are established in jurisdictions other than whre the company is headquartered or domiciled.
What is a High Risk Merchant Account?
A business is classified as a high risk merchant for 2 reasons. First, if the industry type statistically has a higher than normal chance for chargebacks, businesses in that industry will be classified as high risk merchant accounts. Secondly, accounts that grow quickly or have higher than average tickets are frequently classified as high risk merchant accounts.
How do you apply for a high risk merchant account?
Application for a high risk merchant account is the same as for standard merchant accounts. You fill out an application form and submit supporting due diligence documentation.
Fast Risk Free Info
How long will high risk merchant account approval take?
It takes 14-21 days from the time the completed paperwork package is submitted for the account to be approved. Be careful of companies that promise high risk merchant account approval within a few days. These companies are not establishing direct merchant accounts with acquiring banks for you. Rather, you get an account with a 3rd party, not directly with a bank.
What is the application fee for a high risk merchant account?
Application for high risk merchant accounts is always free. Watch out for companies that charge you application fees. These companies care more about getting application fees than getting you an account.
What are the requirements for a high risk merchant account?
To apply for a high risk merchant account, you must be processing at least $50,000 per month. No start up companies are accepted.
How much monthly processing volume do you have with a high risk merchant account?
Our high risk merchant accounts do not have caps. You can process as much as you want. In fact, the acquiring banks prefer high volume high risk merchant accounts.
Do high risk merchant accounts require reserves?
Most acquiring banks require rolling reserves ranging from 5-10%. Reserves can be renegotiated after processing history is established.
Where is a high risk merchant account located?
Acquiring banks for high risk merchant accounts are located in a wide variety of international jurisdictions. Merchants can establish high risk merchant accounts in more than one jurisdiction.
What are the settlement settlement times?
Settlement times for high risk merchant accounts range between 3 and 7 days.
Do you have to be a high risk merchant to qualify for an international merchant account?
Many companies that establish international merchant accounts are not high risk. Companies set up merchant accounts offshore for many reasons, including access to more favorable business conditions or different regulatory environments.
Do I need an offshore corporation to get an offshore merchant account?
It depends, sometimes yes, sometimes no. If an offshore corporation is required, it can be established quickly, easily, and inexpensively after the merchant account is approved.
Is my money safe in an offshore merchant account?
Your international merchant account is established directly with the acquiring bank. The banks are among of the largest international financial institutions in the world and your money is quite safe.
How do at which bank my international merchant account will be established?
Once your account is approved, you will receive merchant processing agreements directly from the acquiring bank.
What are the discount rates for international merchant accounts?
Discount rates are determined by underwriting after examination of application and supporting due diligence paperwork. Factors influencing rates are industry type, processing history, and the volume of monthly processing. Generally, rates range between 2.5% to 6.5%. Rates can be renegotiated after processing history is established with the acquiring bank.