Have you ever heard of “Paymerica”? - http://www.merchanthotline.com/
They offer a 2.5% rate for Internet CC processing and the same rate for Merchant outside US. They seem to work with Morgan Chase bank, but in the application form (http://www.merchanthotline.com/apps/signature.pdf) you have two options: 1. National Bank of the Redwoods or 2. Merrick Bank.

On the other hand, the name “Signature Card Services” appears in the header of the application pages.
Have anyone dealt with them? Any comments?

Thanks in advance.

They are reliable?

I am very interested

I don’t know. I wrote them yesterday and a friendly sales manager answered all my questions.
But, I am not very involved with Merchant Accounts facts, so I think I am no able to determine if they are reliable or not.

Could you help me?

Monthly statement fee: $10

ibrahim25
Is this a big trouble for such percents? :) I suppose no :)

ALL
I am very interested too... Are they reliable? :)

Well they are an ISO for Chase bank, but there is really NO information on their site whatsoever.

They might be a reseller for Signature - which does not make that much sense though. Plus the application you pointed to shows 2.5% - but I think that is for US merchants since it is requesting a SSN. I could not see where it pointed to international merchants

Wow, great rates.

Signature Card Services is an ISO/MSP here in the U.S. based out of California.

They have been in the bankcard industry for awhile and I know that they have dealt with a lot of high risk merchant types in the past but I'm not sure of any details regarding any kind of an international merchant program.

A qualified rate of 2.50% sounds more like a U.S. merchant processing program, though, as opposed to any kind of an international program.

Might be worth checking out though in terms of whether they can actually underwrite an international merchant. The industry certainly could use some reliable options for the more conventional international merchant business types!

No privacy policy, no address, no disclaimer, no terms and conditions, no FAQ on their website.

I would be very cautious!

i cannot find any links on there website.

yeah I wont risk it at all

Dear All,

I did not see their international rates in their site. I asked them and I will show you my Email conversation:

----------------------
My first question:
I would like to know if I can apply for an Internet Merchant Account. I am from Argentina. I have been working with 2checkount for three years and my business is sports sciences products in Spanish…
----------------------
Their response:
The best solution I have right now is with a company called Signature card services which requires a minimum of 5% reserve for companies with foreign principals / owners. This basically means that they will hold 5% minimum of your monthly volume in a reserve account. They generally will do this for the first 6 months, and will then release in month number 7 whatever they held in month 1. It is not the most convenient way of working, but may at least present you with some alternative to 2checkout.
----------------------


----------------------
My second question:
Thanks for your reply. Are you saying that in month 7 they will release whatever they held in month 1, and then, in month 8 they will release whatever they held in month 2, etc. At the same tame, in month 7 and 8 they will hold 5% to release after 6 month?
It is a little worst than 2checkout, but… What about their fees and rates? Could you give me an explanation about?
----------------------
Their response:
Yes, as you described the reserve, that is how it is. Rates are 2.5% discount rate with a $.35 per transaction. You will have a $10 monthly fee for the merchant acct. Should you decide to use my services as well for the gateway, such as Authorize.Net I have a one-time $99 setup and a monthly of $15 with an additional per trans of $.07 for AuthNet. So, the account isn't priced as competitively as if you were a US-based resident with a US social security number or tax ID, but may offer one advantage which is daily deposits. The funds are deposited into your checking acct within 2-3 business days of the transaction submission.
----------------------

So, I know the 5% reserve for six month is no the best, but if we consider the poor options that we, international merchants have… It will be an option.

In spite of this information, I can not see if they are reliable or not. I would like to know somebody who has worked with them.

Corey and CDGcommerce,
You are full of knowledge about this; your comments are very helpful. Thank you very much.

I called the number listed on the site when they opened. Unfortunately, it seems the site is still down. She would not give me any information - she said everything could be found here: http://www.pay4it.net/international - hopefully it will be up soon

Somebody from Paymerica told me that they are resellers from Signature Card Services (http://www.signaturecard.com/) and they (SCS) charge 2.5% rate for Visa, MC, and Amex for International Merchants.

So, now, the question is… What about Signature Card Services? Are they reliable? Has anybody worked with them?
We will appreciate your comments.

From Signature Card FAQ:

Q: Will I have to open a separate business checking account for these funds?

A: Absolutely not. Using ACH, Signature can automatically deposit your funds into any existing business checking account at any U.S.-based bank. You just tell us where you want it.

So, this company is not an option for non-US resident merchants, because 99.99% of US based banks asking for SSN/TIN and US driver license for checking/business accounts.

Well their website seems to be back up now.

With the exception of Canada, it seems the cheapest is 5.45% and going to about 8.45%

Corey,
Where are you seeing these rates? SignatureCard.com does not show these rates. In fact, they do not show any rate. But, if you ask them, they will tell you about their 2.5% rate for international merchants.
Please, let us know where you found these rates.

BurakUeda,
Yes, they will require an US bank account, an US mailing address, and an US telephone number. You can get everything trough Valis International except your US bank account.
I am lucky to have one, but you know that ALL MAPs will require an US bank account. Try Card Service International, Merchant 4 less, etc.
I am from Argentina and I know we have a slim range of options, but I fighting to get a better rate.

Originally posted by mamoyano
Corey,
Where are you seeing these rates? SignatureCard.com does not show these rates. In fact, they do not show any rate. But, if you ask them, they will tell you about their 2.5% rate for international merchants.
Please, let us know where you found these rates.
I found these rates from: http://www.pay4it.net/international. But I am sorry, that was actually for another thread on another board. They asked me to call & I posted on the wrong thread, wrong board even! LOL

I did call the other person though at http://www.merchanthotline.com/ just now, and he said that if your customers are not U.S. based, then chances are going to be that your discount rate is going to be about 4% due to the non-qualified status of those charges.
Originally posted by BurakUeda
From Signature Card FAQ:

Q: Will I have to open a separate business checking account for these funds?

A: Absolutely not. Using ACH, Signature can automatically deposit your funds into any existing business checking account at any U.S.-based bank. You just tell us where you want it.

So, this company is not an option for non-US resident merchants, because 99.99% of US based banks asking for SSN/TIN and US driver license for checking/business accounts.
Well not really - the only time a SSN is needed is when you have an interest bearing account. There is actually old laws on the books that prevent a bank from asking you for an SSN since the SSN was not designed to be used to open up checking accounts.

(now off to find that other board)

http://pay4it.net/international/

I'd say that these guys are just reselling Worldpay.

Originally posted by coreybryant
Well they are an ISO for Chase bank, but there is really NO information on their site whatsoever.

They might be a reseller for Signature - which does not make that much sense though. Plus the application you pointed to shows 2.5% - but I think that is for US merchants since it is requesting a SSN. I could not see where it pointed to international merchants

I don't give out my ssn online. any company that wants it doesn't get my business. There's just so much that can go wrong giving out a social security number.

Originally posted by newmarket
http://pay4it.net/international/

I'd say that these guys are just reselling Worldpay.

Wow, look at THESE discount rates now! Where is the 2,5% gone ? ;-)

They seem to be reselling Worldpay. www.worldpay.co.uk. You'll probably get it much cheaper and a better discount rate directly :)

I think we are talking about different thinks. I do not know where are you asking for information, but I can show you my email conversation with a Paymerica (http://www.merchanthotline.com/) sales manager.

When I asked him if I would be able to apply for a qualified 2.5% discount rate, he told me the following:
“Yes, with international merchants or even US businesses with International owners, the only institution that I can set up your account with is Signature Card Services. They will allow this type of account to be setup at 2.5% qualified discount rate.”

After that, I asked him which ISO/MSP he is going to use, and his response was:
“So, if you want to move forward with this account, it would have to be setup with Signature Card Services. I can only use Paymerica if the owner of the business is a US resident and has a US tax ID, such as a Social Security Number.”

Corey,
Where did you get these rates?

In order to clarify some facts: (please, let me know if I am wrong)

* Paymerica: Resellers from Signature Card Services. (Paymerica told me)
* Signature Card Services: ISO/MSP from California, US. (CDGcommerce told us)
* http://pay4it.net/international/: They seem to be reselling WorldPay (you said)

So, the important thing here is SIGNATURE CARD SERVICES AND HIS QUALIFIED 2.5% DISCOUNT RATE FOR INTERNATIONAL MERCHANTS.

Let us talk about them!

Originally posted by coreybryant
Well not really - the only time a SSN is needed is when you have an interest bearing account. There is actually old laws on the books that prevent a bank from asking you for an SSN since the SSN was not designed to be used to open up checking accounts.
(now off to find that other board)
So how come they all asking for it? I tried almost every bank in US, but in all of them, somewhere in the application process I was asked for SSN and that was the mandatory field (I couldn't go further in the application without it)

Actually, in your webpage (in your signature) you're asking for SSN too :D for the first principal.
For the second principal, there is a "not required for foreign merchants" note. But for the first principal SSN seems mandatory, correct?

My name is Brian Armstrong and I'm responsible for the content on the sites mentioned this post, specifically MerchantHotline

To clarify a few points... Visa and Mastercard have specific rules about how individual sales agents (like me) are allowed to market their products. In the case of merchanthotline, I am marketing the services of Paymerica, a registered ISO for Chase Bank, NY.

In the case of international merchants, or more specifically, US companies with foreign principals, Chase Bank will not approve those accounts, so I don't use Paymerica for international accts.

I am, however, affiliated with Signature Card Services as a sales agent. They work with Merrick Bank who will allow US-based businesses (again requiring a US tax ID) to submit merchant account applications with a foreign business owner. The minimum reserve requirement for a foreign principal is 5%.

This reserve is ongoing and will generally not be reviewed or release for the duration of the account. This is usually up to the underwriting / risk departments and doesn't involve me as a sales agent. There are exceptions to this, but basically expect that the 6 month rolling reserve will be 5%. To briefly explain this, you'll have 5% of your monthly volume held for the first 6 months. In month 7, they'll release whatever they held in month 1 and so on... If your product or service can handle this lack of cash, this will be a great account as it is compatible with virtually all the gateway products out there, including AuthorizeNet, Cybersource, Plug'n Pay, etc.

So, I can setup these types of accounts, keeping in mind the requirement for the bank to approve is a US company / entity, whether an LLC or Corporation or even a sole proprietor as long as there is a Tax ID number and a US bank account.

If you'd like to quiz me further about these account, I'm happy to respond to any emails. < removed >

Brian

Originally posted by mamoyano
BurakUeda,
Yes, they will require an US bank account, an US mailing address, and an US telephone number. You can get everything trough Valis International except your US bank account.
I am lucky to have one, but you know that ALL MAPs will require an US bank account. Try Card Service International, Merchant 4 less, etc.
I am from Argentina and I know we have a slim range of options, but I fighting to get a better rate.


At which bank is your account?

Originally posted by ibrahim25
At which bank is your account?

At Pacific National Bank, Miami. (www.pnb.com)

I wanted to post an additional follow up to this topic per a question I had from a merchant located in Canada.

I have an option for credit card processing for companies located in Canada. The only prerequisites for this are that the Canadian-based company is marketing to US customers and the majority of their transactions are from US card-holders.

This account does process in US dollars and requires a US bank account into which funds would then be deposited.

This account is different than the account with Signature Card Services as this does not require a US tax ID. This seperate account can be setup through the Canadian Social insurance number and Canadian corporate ID (assuming it is a corporation).

This option may work better as it does not have a mandatory 5% reserve just because the business owner is a Canadian merchant. The account is through Moneris Solutions, Buffalo Grove, IL. The only difference in pricing is this account with Moneris does have a $75 application fee.

All that being said, you're welcome to contact me for questions regard that account as well. I'm not here to compete as much as to educate and hopefully, whether you use my service or not, this will empower you to find some additional solutions.

Thanks again.


<<< Signatures need to be set up in your profile. >>>

So in other words, it's a domestic account that you are placing. It's just that international merchant's are obtaining a US incorporation and you are securing them a US merchant account, not an offshore merchant account.

Yes, that is correct. Everything I've alluded to so far are domestic accounts.

The only international options i.e. offshore accounts I have are for established businesses processing in excess of $50K/month and the setup process is seemingly very long, on average 1-2 months to setup.

International pricing is around 4%, on occasion will have a reserve, but the majority of the time, the reserve is held back with a days deferred. So instead of receiving payment 2-3 business days after the transaction, they'll start receiving payment 10-15 days after submitting transactions. That is always subject to review assuming a good processing history.

Thanks for the clarification.

Brian

Yes, that is correct. Everything I've alluded to so far are domestic accounts.

The only international options I have are for established businesses processing in excess of $50K/month and the setup process is seemingly very long, on average 1-2 months to setup.

International pricing is around 4%, on occasion will have a reserve, but the majority of the time, the reserve is held back with a days deferred. So instead of receiving payment 2-3 business days after the transaction, they'll start receiving payment 10-15 days after submitting transactions. That is always subject to review assuming a good processing history.