Need offshore bank account and merchant account with same bank, possible?

[plotoffshore]

I would like to know if it is possible to open a offshore bank account and merchant account with one and the same bank?? for banking I just need simple Internet banking and USD account, for merchant account I need to accept VISA and MasterCard + ACH checks if possible.


Any input please??

 

[plotoffshore]

No one knows??

 

[JohnLocke]

Usually the answer is NO that's no possible. You will want to open a bank account with a regular bank and a merchant account with a so called Acquiring bank!

 

[plotoffshore]

You say there is no bank who offer both? So it is a complicated process or at least the work steps are twice. First bank account application and then merchant account application

 

[JohnLocke]

That's almost true, at least I don't know of any bank who offer both, typically that's two entities even if it is within the same bank group.

 

[plotoffshore]

Strange that it is so. I will check with different sources for Merchant Accounts to see if there should be a solution somwehere somewhow.

 

[buka]

Do you found a good solution for both offshore banking and merchant account? If any, please post here or PM me if possible, thanks.

 

[taruniis]

The problem is easy to solve. Just find two persons who will manage different accounts. It is not possible for banks to do both jobs because they are only allowed by governments to focus on one. The closest that you can get is working with sister companies. Still, you will only appreciate them because of their names. There are no substantial link between the two.

 

[pulledoffshore]

The problem is easy to solve. Just find two persons who will manage different accounts. It is not possible for banks to do both jobs because they are only allowed by governments to focus on one. The closest that you can get is working with sister companies. Still' date=' you will only appreciate them because of their names. There are no substantial link between the two. [/quote']
That may do the trick, thanks ipr

 

[taruniis]

You are always welcome. There are lots of ways on how to solve problems. It will be just a matter of managing these choices to your full advantage. Investing on what you know will help you save more time and money, too.

 

[JohnLocke]

Any solution that can sort out this problem would be appreciated if you post it here

 

[plotoffshore]

I found RBS Worldpay they can do both, but not for Seychelles or offshore company, they require a European company they say :-(

 

[plotoffshore]

Are there any alternative payment processors who accept offshore companies in Belize, BVI or Seychelles?

 

[jfab]

You will have to have at least be called a legal resident of another country to be granted access to create a bank account with them. There are others who accept foreigners, but still they will need a ton of documentation especially they will gruel you on why would you rather have your money in their country even when you tell them it's going to be for your business. They usually require a big amount of deposit too.

 

[JohnLocke]

Well, most often a offshore bank will simply requrie a valid passport copy and utility bill, from time to time (depends on the bank) they will require a bankers reference letter and maybe a simple CV.. I would not call it a ton of documents. There may be banks who require alot of docs in order to open an account.

 

[kuntobunto]

So passport copy and utility is basically what is required to open a bank account offshore?

 

[JohnLocke]

Yes that's you will need, in certain cases a reference letter from a bank will be required as well, but not always.

 

[buka]

To open an offshore bank account isn't an issue. The problems starts with the merchant account, I would like to hear from one who has found a hassle free way to open an real merchant account.

 

[JohnLocke]

Indeed most offshore bank accounts can be opened with a simple utility bill and valid passport. A merchant account for credit card processing requires a lot more and also the acquiring bank will look at what business you are into.

 

[plotoffshore]

As long as I only look at a simple bank account to receive and send moeny by Wire Transfer or IBAN transfer I only need to provide valid passport and utility bill right?