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Leon

New member
Hello,



I am in E-Commerce and since 6 months i own a HK Ltd. Before I went to HK I processed around 500k$ a month with a EU entity. Because i totally underestimated the PSP & Banking hassle with „start up“ offshore company‘s, we didn’t manage it until today to get back to this revenue level. The that‘s also what this thread is about:



We are currently applying to a PSP for specific Payment Methods (iDEAL). They can provide this methods for non EU company’s (unlike many other), but his bank wants at least 150k$ / Months Processing History of the applying company / website, and that’s where the frustration comes in: I know that we will proceed potentially much more then this when we would get accepted, but I can’t provide this proof to them. All I can proof to them is around 50k a month over 4 months almost chargeback-free.



I also can’t give them docs from our former EU company to proof that we are able to do that, because their bank will just don’t accept this. They want it from the applying company and they will not make a exception.



Did anyone face a similar situation with PSPs? How did you solve it? I am thinking about the possibility to use bank statements and processing statement from our former EU company and just „photoshop“ them with our HK company. I also could get these docs from other merchants I am cool with. Does anyone have experience with this?
 

Sols

Mentor Group Gold
This is usually not a problem if your growth target is realistic. Just explain your situation and your history with the EU company.

If they don't want to listen to it, keep looking for other iDeal processors. There are many.
 

Admin

Forum Moderator
Staff member
Elite Member
If it can be of help for you, you want to do a search here Access Denied just adjust the search fields to fit what you are looking for and you may find soemthing that will work for you.
 

SaintVince

Active Member
I would suggest to show them the real documents and explain the situation, reach out to a manager who has authority.
i had a similar situation setting up account with UBS and had to push it higher up for the situation to play in our benefit.

so in this non standard situation act in a non standard way
 

SaintVince

Active Member
corporate banking, but they did require a mid 7 figure sum to be held in a separate investment product as a collateral.
 

Admin

Forum Moderator
Staff member
Elite Member
hmmmm. payment processing and banking are different things. The requirements are even different so it may not be the same and for that reason won't help OP at all.
 

SaintVince

Active Member
The main advice was to get the issue sorted by involving managers from within the organization.
as for banking vs psp, agree however ubs doesn’t open banking to anyone who applies so it was an achievement when we got the account set up.
 
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