It would be against the banks regulations and compliancy if anyone would have such a solution available for sale, only if you inform the bank(s) involved before such a transaction is executed it would be legal and compliant! If someone will offer you a offshore company with bank account and merchant account (with pressure on the latter) then you will need to know exactly where this bank is and if they are OK with the sale, otherwise it would be waste of money, your money!
Correct, a merchant account is not the same as a regular bank account. the first one is only to accept typically credit card or check payments on your website while the latter is to receive payments into your "bank account".