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?
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?
