Have Cyprus Corporation wondering to use Cyprus bank account

Discussion in 'How to accept credit card payments' started by LetsRock, Jun 16, 2017.

  1. LetsRock

    LetsRock New Member

    Hello All,

    I have a Cyprus company and bank account and I am looking for a good merchant account in which I can pay employees from with the sales made online. With a Cyprus bank account am I able to do wire transfers to my employees by name as they are independent and do not have a company?

    I am also looking for a credit card processor changing from my current processor as they charge to high of fee's. It is in the education industry and I think it won't be hard to find a merchant being in Cyprus (EU).

    What merchants or 3rd party processors do you recommend that can transfer to Cyprus with low transaction fees. I can also provide 6 months of processing transactions or more which have a chargeback rate of less then 1%

    Would it be better to open a LeuPay EMI bank account as it is easier to send out payment and open a business merchant account with LeuPay and take transactions from there?

    I do not like 2checkout.com as I used them in the past like 10 years ago and was not happy with them and will never go back. I am interested in using Paypal again but wondering if anyone knows any others and if it is a good idea to open a Cyprus Bank account or just a LeuPay account as it will be easier to payout employees.
  2. auric

    auric Offshore Agent Mentor Group Sponsor Business Angel

    You may look into WireCard, GlobalPay, Ogone, and similar providers. Actually Visa Europe has a list available about PCI certified providers, Google it and you can find a few hundred Payment Service Providers.
  3. LetsRock

    LetsRock New Member

    Thank you for your reply auric. You seem to know what you are talking about on here read many of your posts.

    Would you go with a Cyprus bank account or something like LeuPay EMI bank account as I have employees and I think it might be difficult to pay employees via a Cyprus bank account as they are not a business. Am I wrong here?

    Also regarding a Cyprus bank which Cyprus bank account would you recommend as I know they had issues before and some I might be worried about their balance sheets. Don't want monies taken if they go belly up...
  4. Brutus

    Brutus Member Entrepreneur

    What's the problem with 2checkout.com?

    What type of Cyprus bank account do you have? It is strange to think that you can only pay businesses with that bank account, why would that be the case?
  5. LetsRock

    LetsRock New Member

    I didn't receive transfers from 2checkout for about a month and I have had some bad experiences with their company. I was like one of the first using them but they might be different now don't know.

    I would like to streamline my payments to employees thinking to go with Paypal. Debating though to go with a Cyprus bank account of a LeuPay bank account.