Hello everyone,
I am trying to find the best possible solution for such a venture given my circumstances while at the same time trying to avoid any issues that would screw the merchant account and thus the business instantly.
From lots of research it appears that essentially people have 4 options;
1. Sign up for the easy options like paypal, stripe, square and likely get shut very fast soon as they figure it out.
2. Sign up with a merchant processing account with someone like a bank who underwrites you first, if they even approve it, or anyone else and then try your absolute best not to get shut down hard and fast. And when you do find another option from below...
3. Use a cloaking site where your clean site only processes the payments and the sarm site does everything else. Everything here needs to be done perfectly to cloak things well and avoid being detected shut down which may still happen.
4. Find an offshore/high risk merchant processor that will not steal your money, is not completely unreasonable in terms of hold, slow pay outs, rolling reserves and charges try your best to last there. Eg South Africa? Russia?
**Possibly forming company and business in a country and processing payments through it where its more acceptable? (even though Visa/MC frown on these?) eg UK?
Regardless of whichever way, do your damnedest to keep fraud/charge-backs to an absolute minimum and do not dispute them.
I've seen one member on here possibly doing the ** option whilst everyone generally goes through those 4 main options in one way or another.
As I am 'starting' I could do whichever option/s best.
Already have a 6 year old dormant US LLC (non US resident/citizen so only EIN though could get ITIN if really need be) that had 2 bank merchant accounts which eventually got suspended for obvious inactivity. Was told could just sign up again as before and had done nothing technically wrong. Perfect standing with zero strikes or issues and ideal would be to actually start this up and use it. Considering its already 6 years old customers might consider it somewhat stable and its marketable.
Likewise, following the logic in those options outlined above, could try to restart that one up but instead of using it as the actual sarm site and then losing merchant account eventually and having to go through the rest of the steps, I could use it as the clean site whilst getting a new site as the real sarm site?
Alternatively, ditch US entities altogether and start one in the UK or somewhere else that would allow such a setup to work?
Have I missed anything? Summed it up overall ok?
In a perfect world would just restart the dormant US entity with 2 or more merchant accounts linked to it and focus on the business.
Confused as to how to proceed.....
I am trying to find the best possible solution for such a venture given my circumstances while at the same time trying to avoid any issues that would screw the merchant account and thus the business instantly.
From lots of research it appears that essentially people have 4 options;
1. Sign up for the easy options like paypal, stripe, square and likely get shut very fast soon as they figure it out.
2. Sign up with a merchant processing account with someone like a bank who underwrites you first, if they even approve it, or anyone else and then try your absolute best not to get shut down hard and fast. And when you do find another option from below...
3. Use a cloaking site where your clean site only processes the payments and the sarm site does everything else. Everything here needs to be done perfectly to cloak things well and avoid being detected shut down which may still happen.
4. Find an offshore/high risk merchant processor that will not steal your money, is not completely unreasonable in terms of hold, slow pay outs, rolling reserves and charges try your best to last there. Eg South Africa? Russia?
**Possibly forming company and business in a country and processing payments through it where its more acceptable? (even though Visa/MC frown on these?) eg UK?
Regardless of whichever way, do your damnedest to keep fraud/charge-backs to an absolute minimum and do not dispute them.
I've seen one member on here possibly doing the ** option whilst everyone generally goes through those 4 main options in one way or another.
As I am 'starting' I could do whichever option/s best.
Already have a 6 year old dormant US LLC (non US resident/citizen so only EIN though could get ITIN if really need be) that had 2 bank merchant accounts which eventually got suspended for obvious inactivity. Was told could just sign up again as before and had done nothing technically wrong. Perfect standing with zero strikes or issues and ideal would be to actually start this up and use it. Considering its already 6 years old customers might consider it somewhat stable and its marketable.
Likewise, following the logic in those options outlined above, could try to restart that one up but instead of using it as the actual sarm site and then losing merchant account eventually and having to go through the rest of the steps, I could use it as the clean site whilst getting a new site as the real sarm site?
Alternatively, ditch US entities altogether and start one in the UK or somewhere else that would allow such a setup to work?
Have I missed anything? Summed it up overall ok?
In a perfect world would just restart the dormant US entity with 2 or more merchant accounts linked to it and focus on the business.
Confused as to how to proceed.....
