An offshore merchant account enables the business owners to accept credit and debit card payments around the world. Such account can be opened or set up with the help of an Offshore Merchant Account provider or processor. Offshore bank account providers charge a fee for their services to facilitate acceptance of international credit cards presented by their clients and also verify information provided by customers. The fees structure vary from company to company and mainly depends upon the type of services they serve. They have various features with offshore merchant account in their trolley like; tax reduction facility, operation simplicity, general asset protection and other related features.
The fees include in offshore merchant account is Discount rate, transaction fees, monthly minimum fees, charge back fees, reserve fees and in some cases even equipment and installation fees. Discount rate is created on percentage of each transaction that is paid to that merchant account provider. Transaction fee is a flat rate that a merchant account provider charges for each transaction processed. Monthly minimum fees are charged on merchant account if merchants? Discount rate and transaction fees are not able to achieve the monthly minimum amount that was specified on the original merchant application. Reserve fees are charged if merchants? Credit history is questionable, which is done by setting up a reserve account. This feature protects the merchant account provider from any possible future losses. Chargeback fees are charged by a merchant account processor to pay for disputed charges where the customer had to be refunded charged amount.
Do deep research in the market to get good deals in setting up an offshore merchant account that fulfills their specific business requirements?