Electronic Bank for merchant account
1.
The director of the connecting company submits an application to the bank serving this company to open a merchant account (merchant processing account)
2.
A couple of days after the submission of the application, the bank sends a letter with an agreement prepared for signature
3.
Director signs the agreement and sends one copy back to the bank
4.
The Bank provides the merchant ID, instructions for system integration and encryption keys
5.
A programmer makes system integration, and then on the corporate website acceptance of credit cards will be possible
The merchant account opening procedure can be completed quickly enough, just in a few days. Moreover, this ideal scenario is possible in any country of the world. However, the company, its management and the bank must meet the following requirements:

Merchant account


In the ideal case, the procedure for connecting site to the credit cards payment system is as follows:
1.
The bank has necessary acquiring license
2.
The company has typical and well-known business
3.
Business is low-risk and legal
4.
The business is fully transparent from the foundation, all taxes are paid
5.
Connecting company has all the necessary licenses
6.
Activities are carried out for a long time, the financial indicators are stable
7.
Commercial activities are carried out only in the state of registration
8.
The company and the acquiring bank are located in the same state
9.
The company's website contains all necessary user agreements
10.
Site of the company is qualitatively made and designed, the code is valid
11.
The content of the site is not beyond the core business
12.
Technical Customer Support is established and functioning
The presence of a full-fledged business plan in English with the financial part in the British accounting terminology
Demonstration of the working site, which quality of workmanship and degree of maturity shows that it is really a business website of the company
The availability on the Internet site of all user agreements is necessary for business declared in the business plan
Provide apostilled copies of the certificate of registration of the legal entity, the company documents, the license to conduct the activities, shareholder’s agreement and other documents, the final list of which is determined by the bank
Provide details of your policy with respect to the return of payments from clients in English (Chargeback policy)
Describe the features of your system for filtering fraud payments
Provide evidence of customer phone support service
Provide a copy of the identity documents of directors and the beneficiaries
Provide proof of financial viability of the company itself, as well as business owners
Report the expected monthly turnover and the average amount of payment
If the activity was conducted, then for the Internet merchant account may also be required:
The recommendations of sectorial financial institutions or banks
Copies of recent tax returns (depending on the expected volume of sales through your merchant account)
The credit profile of your company and / or personal credit file
The list of requirements can be changed at any time at the request of the bank. But everything is easier if the business owners or their representatives will attend the negotiations in person. In this case, the requirements of the bank can be negotiated - for example, the lack of policy on chargebacks can be replaced by insurance deposit. For negotiating it is necessary to understand their mechanics and rules. In particular, an example with agreement to the lack of the Chargeback policy implies that the bank with the deposit of funds reserves the possibility to blur chargebacks for payments that do not violate the requirements of VISA, for example, of not more than 1% of chargebacks. It is by far not the "white zone" of business and to discuss such issues, you need a certain level of trust.
If you do not meet at least one of these requirements, opening of the online merchant account becomes much more difficult.

The fact is that the obtaining of each merchant ID and the opening of every online merchant account is risky operation for the bank. The bank's reputation is at risk in payment systems, processing license is at risk - if, instead of a respectable online store it connects the merchants of prohibited goods, the consequences could be disastrous. Therefore, as soon as an application to open a merchant account is received, the bank is launching a set of measures to verify its client.

Open a merchant account


Banks requirements

In addition to issues relating directly to business owners the biography of a legal entity and directors are checked, credit history and the origin of the funds. In order to do this Recommendation letters from other banks and government organizations are required. The aim is to ascertain the facts for the company to be considered unreliable.

It is important to understand that opening a merchant account is not a formal process, and banks are deedful organizations for which it is important to weed out questionable contractors. And if at the moment of the most important first contact you make a mistake, then in the future negotiation process can be difficult.

Normally, if there are any suspicions, the bank's representatives express a desire to hold a private meeting with business owners and in the case of opening a merchant account there is a requirement of the security deposit in the amount of 10,000 euros. Often the negotiation process simply stops. Therefore, we should operate correctly from the very beginning.
Choose the optimal bank and processing company for you
Prepare the necessary licenses, statements, certificates and other documents
Issue recommendations for your business from the point of view of international law in the field of IT
Carry out negotiations with partner banks and offshore payment processors
Register the offshore legal entities to conduct Internet business
Get agreement on the possibility of cooperation with any chargeback percentage
Choose a suitable scheme of taxation and accountancy
Develop legal strategy of the international internet business
Dear Sirs, we are solving a variety of problems including even the creation of your own bank with a processing license. However, this does not mean that we will not take up the connection of merchant for a beginner online store. We work very individually, we are focused on long-term cooperation and are ready to discuss any interaction patterns. Please, contact us.
Открытие счета в Barclays Bank
Подключение к процессингу JCC

Merchant account


Boarding algorithm

Fortunately, many banks are acting the same way. By knowing the pattern of their behavior, it is possible to get prepared and almost guarantee successful getting of merchant account ID. Because doing Internet business on behalf of the domestic (onshore) company is rare and the use of merchant account in domestic banks is unprofitable, we will look at a respectable standard requirement of a foreign bank to an offshore company.

If your company is resident of the offshore state and did not have any commercial activity inside that state, then in 90% of cases the bank's requirements will be following:

Offshore merchant account



Our company is a contractor of many foreign and offshore banks. We have agreements to open merchant accounts in offshore jurisdictions (offshore merchant account). We are ready to assist our customers to accept payments at the internet site in the most difficult cases. To do this we will:
Прием платежей в иностранных банках
Открытие мерчант-аккаунт в иностранных банках
Сейшельский филиал британского банка
Tariffs for opening of merchant accounts:
Tariffs for opening "merchant accounts"
to accept VISA and MasterCard in the partner banks
(connection to our system is always free)
Payments for virtual
goods / services
globally
Payments for virtual
goods / services
domestic
Payments for physical goods
in EU / US
Opening a merchant-account in a foreign bank and connection to our or affiliate payment system
• Mass mailing of information on banks and payment
  systems (more than 50 providers)
• Selection of proposals with minimum commissions
• Preparation of all necessary documentation
• Correspondence with banks and payment systems
• Consultation on system integration
299 €
Opening of
merchant-account
370 €
Opening of
merchant-account
199 ~ 970 EUR
According to
availability of the necessary
documentation
Comprehensive proposal to minimize commission and taxation with a large number of payment options
• Mass mailing of information on banks and payment
  systems (more than 50 providers)
• Tax planning
• Opening of the Legal Entities (1-4 pcs. depending
  on the selected solutions)
• Selection of payment systems with optimal
  commissions and the needed list of options
• Preparation of all necessary documentation
• Negotiations with the banks on your behalf
• Consultation on system integration
1770 €
One company, account,
merchant account in the bank, processor
~3700 €
2-3 companies, accounts,
merchant account,
processor


+ 999 €
Minimization of
taxation (tax planning services)
2499 €
One company, account,
merchant account in the bank, processing deployment
Optional
• Contracts between the companies of the offshore scheme
• Contract offers to the users of the site
• Protection of the rights on the brand and products
  (domain name, code, etc.)
Obtaining licenses at any states
Opening offshore back accounts for business
At standard rates or by appointment
Кипрский процессинг для кипрских компаний
Ecommerce Payments
WORLDWIDE PAYMENT SYSTEM
Offshore technologies
for Internet-business
Dear Customers, we have many partner banks around the world. We own payment processor in Latvia and are "an agent of the zero rate" of all major payment systems. Thanks to these advantages, we offer the best conditions in the market. Please, contact us!
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