Offshore Merchant Account - The Benefits and Potential Scams
The Benefits of an Offshore Merchant Account
Once you've obtained an offshore merchant account you will find its advantages to be very appealing. Easy access, credit card processing and decreased taxes are only some of the benefits you will be enjoying. Having your business offshore is an advantage on its own but, being careful when selecting the merchant account provider you decide to do business with is important.
Be Aware For "Unbelievable" Offshore Merchant Account Offers
Some offshore merchant account providers will give you a great offer at times when you are having trouble getting an account at others. I strongly recommend keeping an eye open for scams. There are companies that try to get you to open an offshore merchant account sounding all "peachy" when in fact all they are after is your setup fee when sometimes can reach a couple of thousand dollars. Do your research and don't be fooled.
Offshore Merchant Accounts Rates and Fees
Some offshore banks and credit card processors do charge a slightly higher processing fees and discount rates however when the merchant realizes the tax savings they are incurring by processing offshore they discover they are far better off than if they had remained processing onshore. High risk businesses like online casinos, adult, pharmacy and travel merchants prefer using an offshore merchant account as most domestic banks (US) decline these business categories, owing largely to the high volume sales, potential charge back and refunds etc. Offshore banks tend to be more liberal with their under-writing policies, tax savings and there are no sales volume restrictions.
For more related information see our third party credit card processor page.
Related Tags: credit card processing, internet merchant account, offshore merchant account
AdjustCredit.com provides helpful information and tested strategies to eliminate credit card debt online. For information about bad credit loans see bad credit debt consolidation
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