FAQs About Offshore Credit Card Merchant Account Solutions
Q: Is an offshore credit card merchant account safe?
A: Yes, an offshore merchant account for credit card payments is safe both for the merchant and the customer. For the client and the merchant’s security, most credit card processors offer fraud detection tools like 3D secure (2.0 version) and advanced fraud screening software. Furthermore, if the merchant ensures that he has researched the financial stability and dependability of the offshore merchant accountprovider then the offshore merchant account is as safe as a local merchant account.
Merchant security is paramount with Instabill, hence we partner with a renowned information technology and security firm, Neoscope, here in Portsmouth, N.H. Regularly, we are notified of what’s trending as far as attacks, via e-mail and video.
Q: How can I open an offshore credit card merchant account?
A: Most offshore credit card merchant accounts can be opened simply by completing one of our online application forms, found here or by logging on to Instabill.com and clicking any of the orange buttons.
By clicking on a button and completing a form, one of our merchant account managers will contact you by telephone within 48 hours to discuss our many and diverse credit card merchant account solutions. We prefer to find out more about your business and discuss our merchant account options over the phone. Within a few minutes, we can usually select the acquiring bank best suited for your business.
Q: What kind of merchants can set up an offshore credit card merchant account?
A: Merchants categorized as high risk, startup businesses, high volume merchants, international e-commerce businesses and other e-commerce related businesses are able to set up an offshore credit card merchant account.
Having been in the credit card merchant account processing business since 2001, we’ve found that international and offshore banks are more liberal and accepting of high risk industries. Though merchants are subject to higher fees with offshore banks, such banks will accept the high risk industries sometimes shunned by domestic banks.
Q: Is it necessary for a merchant to integrate an offshore office in order to start processing online cards?
A: In most cases, an offshore office presence is not necessary. However, some countries and regions do require a presence in the country of the acquiring bank, such as the European Union. In such instances, merchants are required to have an office with a staff, office telephone number and a bank account.
Instabill arranges solutions for country registrations.
Q: What are the rates for opening an offshore merchant account?
A: Every merchant account provider has a different rate which is usually dependent on the risk associated with the business type. Rates can easily be provided by the merchant account provider once an application has been submitted.
What sets Instabill aside is that it does not charge any fees until its merchant partners begin processing transactions.
Q: What if a merchant has a poor credit history? Can he/she open an offshore merchant account?
A: Each merchant is determined on a case-by-case basis. Most offshore merchant account processors, however, will work with merchants with poor credit history with favorable approval rates.
For merchants that have landed on the MATCH list, it is particularly difficult. However, our merchant account managers are always up for a conversation.
Q: Which currencies are normally processed by merchant account processors?
A: Most merchant account processors provide multi-currency transactions for offshore credit card merchant accounts. USD, EURO, and GBP are the most common currencies available, but Instabill has solutions many others.
Q: What types of credit and debit cards are accepted by merchant account processors?
A: All major types of credit and debit cards are accepted, from MasterCard, Visa, American Express and Discover to UnionPay, JCB, Pago Facil and OneCard.