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TIPS AND ADVICE FOR OFFSHORE SMALL BUSINESS MERCHANT ACCOUNT HOLDERS

A Merchant Account is needed when you want to accept credit card payments from your customers. A merchant account that is designed for small or start up businesses and individuals is called as “Small Business Merchant Account”. Conventionally, small businesses with low trading volumes find it difficult to get a merchant account. However, with the advent of the “Small Business Merchant Account” even the small businesses can accept credit card payments. This also helps the small businesses to grow faster and compete with their bigger rivals.

The primary benefit that you will get from the “Small Business Merchant Account” is you will be able to process credit card payments that are received from your customers. This means that your customers can now pay for the goods bought or services received without cash in hand.

The “Small Business Merchant Account” provides your customers the convenience of making payments with a debit card or credit card. You can accept payments from your customers through the internet or the phone or in person, if you have a Small Business Merchant Account. All businesses must accept credit card payments from their clients as soon as possible, if they are not doing it already.

A good “Small Business Merchant Account” should accept credit cards like MasterCard, Discover, American Express and Visa and any other card that is available. This will increase your customer base and your sales volume, there by resulting in higher profits for your company.

Once a customer makes a credit card payment you will receive the funds within 2 or 3 business days. The money will be credited to your business account, directly. Money earned on any day can be transferred to the checking account of your business. This will provide you with a good cash flow which is an important issue with small businesses. It will also help with debt solutions for your business. You will get a monthly statement after every month which allows you to easily track the sales turnover, deposits and cash flow in your bank account.

The software and machine terminals for credit cards can be leased or purchased. Later, there are options available to buy the terminal that you have rented or leased.

With the “Small Business Merchant Account” one can get opportunities for future lending capital without any applications or credit scores. Factoring is also an option, but the businesses participating in factoring, beware because if you get caught then your merchant account will be terminated. You can also get advances on the receipts of your credit cards every month after you have done trading for one year. This allows your business, access to quick money which can be used for important purposes.

But, the advances attract charges. Therefore, you should use this option only if it is absolutely necessary. Factoring can work positively for your business if you are doing it in a disciplined manner. It will increase the cash flow and flexibility of your company. 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.