Need a merchant bank account with the uk for an offshore london based company

ogame

Active Member
the two banks on rapidformation website are barclays and lloyds... when reading online reviews on them , reviews were not that encouraging.

Can you please recommend a good bank for an ecommerce website for an offshore london based company
 

Samuel Newman

Offshore Desk expert
Business Angel
Mentor Group
the two banks on rapidformation website are barclays and lloyds... when reading online reviews on them , reviews were not that encouraging.

Can you please recommend a good bank for an ecommerce website for an offshore london based company
both Barclays and Lloyds are good banks, but their doors are closed for you if you are not UK resident
If you want to find some advice here, you need to tell more about your business, countries of operation and your country of residence

anyway, EMIs (TransferWise, Paysera, MisterTango) shall accept your company in most cases
 

ogame

Active Member
both Barclays and Lloyds are good banks, but their doors are closed for you if you are not UK resident
If you want to find some advice here, you need to tell more about your business, countries of operation and your country of residence

anyway, EMIs (TransferWise, Paysera, MisterTango) shall accept your company in most cases

I intend to deal with Bulksms, similar to what Nexmo,Infobip and CLX do .

I am based in Beirut but my offshore company is based in london "created it with rapidformation

The emi's deal mainly with money transfers, something i dont want to do. The reason im interested in a merchant bank account is the possibility of having credit card payment portals on my website for clients to pay and were i get the money instantly without the need of waiting 2 days for the amount to hit my account

hope the above info helps.
 

Lejla

Building Trust
Entrepreneur
Well, many EMI-s are offering C2B solutions, but for those you would have to have PSP, AML policy, AML officer, etc....So, don't give up from EMI's, and the banks that you can try for EU are Makedonia, Georgia, etc. You got quite a low-risk business model...
 

ogame

Active Member
Well, many EMI-s are offering C2B solutions, but for those you would have to have PSP, AML policy, AML officer, etc....So, don't give up from EMI's, and the banks that you can try for EU are Makedonia, Georgia, etc. You got quite a low-risk business model...

any bank you can recommend?
 

Tamarind

Building Trust
Entrepreneur
BulkSMS, so thats basiclly Spaming, you wont last long with any decent merchant, let alone with any proper bulk SMS provider.
 

ogame

Active Member
BulkSMS, so thats basiclly Spaming, you wont last long with any decent merchant, let alone with any proper bulk SMS provider.
what does spamming has to do with it... clearly you have no idea what youre talking about
 

Samuel Newman

Offshore Desk expert
Business Angel
Mentor Group
what does spamming has to do with it... clearly you have no idea what youre talking about

Bulksms is not equal to spamming, but telecommunication services are treated as high risk anyway + UBO from Beirut seems to be risky too

Latvia and Cyprus banks may accept you
Also you can simply setup EMI account and some merchant account with PSP company
 

ogame

Active Member
Bulksms is not equal to spamming, but telecommunication services are treated as high risk anyway + UBO from Beirut seems to be risky too

Latvia and Cyprus banks may accept you
Also you can simply setup EMI account and some merchant account with PSP company

well, im counting that having a uk offshore co. will show that im legit. but yeah being physically based in beirut is a risky game for them i guess.

Anyways regarding latvia and cyprus... are these banks safe? or should i worry about them taking my money and shutting down?
 

Samuel Newman

Offshore Desk expert
Business Angel
Mentor Group
.

Anyways regarding latvia and cyprus... are these banks safe? or should i worry about them taking my money and shutting down?
50/50

most of them are legit, but everything changes too fast nowadays, both Cyprus and Latvia had problems in 2018; also, all EU banks have 100 000 EUR insurance

good banks do not accept offshore business in 2019:)
 

ogame

Active Member
50/50

most of them are legit, but everything changes too fast nowadays, both Cyprus and Latvia had problems in 2018; also, all EU banks have 100 000 EUR insurance

good banks do not accept offshore business in 2019:)

jeez man, the only reason i went offshore was the cheap company registration but if i cant add a credit card payment gateway how am i going to do this

do you have any advise?
 

Lejla

Building Trust
Entrepreneur
As Samuel already said, you can try with banks, but you should also try with a EMI's, have several if it's possible, not keeping money in one place, and open merchant account with the PSP....
 

ogame

Active Member
As Samuel already said, you can try with banks, but you should also try with a EMI's, have several if it's possible, not keeping money in one place, and open merchant account with the PSP....

but with EMI's or PSP's , wont they ask for a merchant bank account so the money a client pays get transferred to it?
 
Top