An Offshore Bank Account may be defined as any bank account opened outside of one's native country. It can be opened in various forms according to the requirement and use of an account holder. Offshore merchant account is one of them. How can you define it?
An Offshore merchant Account is a Bank account that provides the ability to accept credit or debit card payments from customers for goods and services. An offshore merchant account establishes a relationship between credit card processor, the bank and business willing to accept the credit card payments. The funds generated from sales and credit card payments are deposited with offshore bank.