Offshore Merchant Account

[lrockwood]

I'm wondering if anyone has a good offshore merchant
account in someplace like Andora with all the functionality
and ease-of-use of a US-based merchant?

Any suggestions would be appreciated.

[iseree]

If you want a offshore merchant account you need:

- A corporate bank account in offshore bank.
- A society incorporated in offshore zone.

A tip: So you shouldn't play with US-based shop or company..

The offshore merchant are between 8-12% of item price and arround $50 a month.

[kingsley]

Hi iseree,
Can you recommend the best offshore merchant/bank.

kingsley

[monkeymogul]

Can someone tell me what an offshore merchant account is please?

[iseree]

Hi,

Depending the place there are reputable banks and scam banks without license.

For example, you have got in Panamá excellent banks inside SWIFT net, with merchant account (difficult to get but possible). The problem is that they have cooperation treaty with USA in money laundering scenes..Ya, they say that there is bank secrecy and if you don't make a big-big-biggest crime (I mean in taxes) they never share the info...but it is false...They know that they are going to cooperate with IRS if the IRS want it.

To me, Seychelles has got a good ecommerce structure, you can ask for services if you want open an offshore society there, with a corporate account in Barclays (with SWIFT), they have got internet banking with your prefered currency. There are another bank but they don't support online banking.
There are few merchants who supply the services with Barclays account in Seychelles.

There is HSBC in Hong Kong and other places arround the offshore world. Very good bank.

The general tip is that you MUST forget the merchants who use the US legislation and you SHOULD avoid the banks who operate with nostro/vostro accounts.

An example of scam bank: FOB (First Oceanic bank) no license, no funds, no jurisdiction, only website. It is a longterm scam, maybe you can enjoy the bank during 2-3 years until the law enforcements close it or the owners close it and will dissapear :-)
There are another banks with bankrupties and other issues who don't inform to the customers...but it is other history,.

Cheers

[opperavoca]

I'm wondering if anyone has a good offshore merchant
account in someplace like Andora with all the functionality
and ease-of-use of a US-based merchant?

Any suggestions would be appreciated.

collecting credit card payments from an offshore juristiction is a very comlex thing. you'll won't find the right answers here on DP. ask some experts for offshore merchant accounts (http://www.allaccepted.com/) about the right juristiction for your needs. if it has to be Andorra than you'll find a solution here (http://www.creditandorra.ad/cacorporate/jsp/element.jsp?ELEMENTID=TPVCreditProd&CATEG=/Home/CreditAndorra/NuevasTecnologias&langId=English) it's a big bank in Andorra offering VISA and Mastercard acceptance for online businesses.

you'll always have to pay setup fees for offshore credit card collection but never pay an application fee! talk with different agents/banks before you pay for anything...