When you hear the words “offshore account,” you probably think of some kind of illegal and glamorous monetary activity, such as money laundering or hiding your income in a Swiss bank account instead of paying taxes. This is a Hollywood view of Offshore Merchant Accounts – in reality, Offshore Merchant Accounts are simply a more convenient way for merchants (particularly high risk merchants or high volume merchants) to conduct their everyday business.

An Offshore Merchant Account is a merchant account set up through a bank outside of your own country. Really, that’s all. Offshore Merchant Accounts tend to be affiliated with high risk merchants, mainly because high risk and high volume merchants tend to do both domestic and international business and need a credit card processor that can handle international credit card transactions.

There are many advantages to establishing an Offshore Merchant Account. In the internet age, it is easy to take your business global. If you have a computer, you have the resource to reach a huge international market for your products and services. However, your local bank may not always have the resources to accept international forms of payment (foreign currency, debit cards from foreign banks, etc.) If you can not process these payments, you could lose this valuable business. Many banks that provide Offshore Merchant Accounts are willing to work with you on whatever services you need to provide and are more than willing to provide them, rather than limiting you to domestic customers and currencies. Some Offshore Merchant Accounts even offer tax breaks or benefits to merchants who utilize them.

As with any merchant account, you can expect to pay more for an Offshore Merchant Account if you are a high risk merchant. (High risk merchants include such businesses as collection agencies, adult-themed websites and escort services, check-chasing providers, online dating services, multi-level marketing (MLM), detective services, internet pharmaceuticals, weight loss services, pawn shops, software downloads, and time share sales.) As with domestic high risk merchant accounts, these businesses are considered high risk due to the high volume and instances of credit card fraud typically associated with them. However, these high risk merchants may find that even though they will pay more for a high risk Offshore Merchant Account than a typical merchant account, they are more likely to be approved by a foreign bank than a domestic bank.  

Whether you choose a domestic or Offshore Merchant Account, it is always important to shop around and research your options. Compare rates and services before you commit to any high risk merchant account provider or credit card processor. Look for the one that has the variety of services that best meets your needs as a merchant and does not scam you with hidden fees and charges. In other words, make sure you are getting what you are paying for.

High Risk Processor specializes in High Risk Merchant Accounts, High Volume Merchant Accounts and Offshore Merchant Accounts. High Risk Merchant Accounts can include mail order, telephone order, adult industry, direct marketing industry, dating, online dating, escort services, outcall services, travel, telecom, timeshares industry, herbal supplements, diet programs, subscription services, membership services, membership clubs, ticket sales, MLM merchant accounts, multi-level marketing merchants, bail bonds, pawn shops, water filtration systems sales, collection agencies, auto rental, rare coin shops, computers, custom design products, software sales, detective services, door to door sales, massage parlors, gun shops, hair restoration services, cosmetic surgery, high ticket sales, high volume merchant accounts, home based businesses, fortune tellers, infomercial merchant accounts, insurance products, investment products, custom jewelry sales, multi level marketing, MLM, phone sales, internet businesses, seminars, schools, education, sports collectibles, used auto sales, water purifier sales, weight loss centers, vitamin stores, international merchants, companies facing high chargebacks, etc.