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Is it possible for a high risk business to get an offshore merchant account

A Merchant Account is required for any business which has to accept payments made through credit cards. Even high risk businesses will need a merchant account. Do you own a high risk business? Do you have a merchant account for the business?

In the “Credit Card Processing” industry, there are several different reasons why any business is considered as a high risk business.

  • Firstly, it may actually be a high risk business from old times. Such businesses include collection agencies, aggregators, e – commerce, Multi – Level marketing and travel.
  • Secondly, the high volume of the business makes it very risky.
  • And finally, a company is branded as Risky because of its credit history.

The question still remains: Can high risk businesses get a merchant account?

The answer is an overwhelming “Yes”. However, it is not very simple or easy to get an account for your high risk business. You have to go to the right people and get the right guidance and advice before opening a merchant account. This is also necessary because you should be safe from high rates and fees that are associated with the High Risk Merchant Account.

Taking the advice of an expert is very critical for the success of a high risk merchant account.

Five points that you should consider before selecting your account provider:

1)    All the rates and fees should be disclosed, discussed and understood by you before you sign the contract.

2)    If your intend to take your business abroad, then your experts should be able to negotiate a deal which will attract the lowest rate that is available in the market.

3)    The Processor of the “High Risk Merchant Account” should have proper access to several credit sources which include offshore options and liberal banks.

4)    Your Processor should have sufficient experience in dealing with “Offshore High Risk Merchant Accounts”, related to your industry.

5)    Your application must be filled and submitted by professional risk experts.

Three tips that will take you a step closer to acquiring the “High Risk Business Merchant Account”:

1)    Be honest with your financial experts and disclose all your financial history and challenges, accurately. If you acknowledge your previous mistakes such as bankruptcies, missed payments, etc. then you are one step closer to that “High Risk Business Account”.

2)    Be open to other options such as the offshore accounts because they have the capability to offer you the best solution of a merchant account.

3)    Do some research and look for processors of credit card who have expert knowledge related to High Risk Merchant Account for your industry. Don’t get scared to ask as many questions as your like. Remember one fact, the more educated you are the better your choice will be for your business.

Therefore, the conclusion is: If your business is considered high risk, then also you can obtain a merchant account called as the “High Risk Merchant Account”.

Contact one of our helpful account representatives to assist you in the setup of a high risk merchant account or offshore merchant account for a high risk merchant.