Is there such a thing as a Free Offshore Merchant Account?

As they say ‘nothing in the world is free’ not even a ‘free offshore merchant account’!

In our search for free offshore merchant accounts we came across merchant account providers who were offering low cost offshore merchant accounts. The merchant account providers loosely use the term ‘free’ mainly because at times they have no application cost.

These merchant account providers allow you to apply for a merchant account without having to pay a fee and thus ascertain whether an offshore merchant account would be feasible for their business or not.

The benefits of a ‘free offshore merchant account’ or one with no application cost would include:

• Almost 100 percent approval rate
• ‘high-risk’ businesses accepted
• No credit history to be maintained
• An integrated payment gateway
• Real time processing with fully automated process
• Allows you to receive checks and international money orders

Yet, before signing up for an offshore account, a merchant should ensure that the merchant account provider provides their contact number on the website.

They should further verify whether the merchant account provider:

• Is Financially stable
• Is Legally established on the international stage
• Has a local business presence
  
  

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