Moving your Money to an Offshore Merchant Account

Did you know that your business can reduce its tax liability by moving your merchant account offshore? It’s true. An offshore merchant account is basically an account that allows high risk merchant accounts to accept credit card orders, most often as a part of internet transactions. In the past, these accounts could sometimes send up a red flag to the IRS; but now offshore accounts are fairly typical in certain industries, such as adult services and high volume merchants.

The Difference Between an Offshore Merchant Account and a Domestic Account
A domestic bank will often require security deposits for future chargebacks, particularly for small high risk merchant businesses that may not have perfect business credit. Further, many domestic account providers will cease to provide merchants with an account if they begin to do large volumes of transactions, because they may believe that the business is performing less-than-ethical business as a way of laundering money. Ina way, some high risk merchants may be led to believe that domestic banks are doing them a favor by providing them with an account—this attitude is less common for merchants who open accounts offshore.

Offshore merchant account providers will usually offer lower monthly rates, as well as make it much easier for new businesses to open their accounts. Since these offshore accounts are competing with providers from all over the globe, they recognize that they must provide top quality customer service at very affordable prices. Many high risk merchants are pleased to discover that offshore providers are more than simply willing to offer them an account, they are actually grateful for their business!

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