Is There Such a Thing as a Free Offshore Merchant Account?

Free offshore merchant account and other myths revealed by Instabill

Is There Such a Thing as a Free Offshore Merchant Account?

As they say ‘nothing in the world is free’ not even a free offshore merchant account.

In our search for free offshore merchant accounts, we came across merchant account providers who were offering low cost offshore merchant accounts. The merchant account providers loosely use the term ‘free’ mainly because at times they have no application cost. There is another, more transparent reason for the usage of the phrase ‘free merchant account’ – it elicits 110 searches per month on Google, which is very powerful. It is a term for which merchant account providers want to rank on page one.

But we digress. There is no such thing as a free merchant account, much less a free offshore merchant account. We tend to liken the adverts for such to certain small commercial airlines. There are several airliners that advertise super cheap flights, far less expensive than the Uniteds, Deltas and Jet Blues of the world.

We see similarities with other industries

How do they charge half of what the big airlines charge and stay in business? Most charge exorbitant fees for the number of pieces of luggage, the weight of a passenger’s luggage, a carry-on bag as well as smaller tack-on fees for booking online or at the terminal, virtually anywhere they can. A bit of research is recommended when searching for the best and cheapest airfares.

We recommend the same approach when shopping for an offshore merchant account.

These merchant account providers allow you to apply for a merchant account without having to pay a fee and thus ascertain whether an offshore merchant account would be feasible for their business or not.

The benefits of a ‘free offshore merchant account’ or one with no application cost would include:

  • Almost 100 percent approval rate
  • ‘high-risk’ businesses accepted
  • No credit history to be maintained
  • An integrated payment gateway
  • Real time processing with fully automated process
  • Allows you to receive checks and international money orders
  • Yet, before signing up for an offshore account, a merchant should ensure that the merchant account provider provides their contact number on the website.

They should further verify whether the merchant account provider:

  • Is financially stable
  • Is legally established on the international stage
  • Has a local business presence

Before signing on for that free offshore merchant account…

Very few things are free. There is always a catch.

One thing we strongly recommend is getting the merchant account provider on the telephone. Here at Instabill, we PREFER to speak with prospective merchants as the first order of business. By having an initial (free) consult, our merchant account managers can get a feel for your business through asking related questions regarding:

  • Payment processing history
  • Monthly sales volume
  • Chargeback rate

Firstly, we can identify whether we have a solution, and secondly, which acquiring bank is the best fit for your industry. We’ve been providing high risk merchants offshore merchant accounts for nearly 20 years, and have built a network of trusted domestic, offshore and international banking partners that welcome high risk industries.

We’re not going to offer a free offshore merchant account. But a conversation can be had today at 1-800-530-2444.