Hi Guys,

We are working on an online internet franchise, we expect to be earning within the range of $300,000 - $1,000,000 per annum. We are NOT a company based in the USA nor is any of our board of directors American citizens. We need a great merchant account that can give us a very low rate and also provide the best service. We dont want our money to be detained for long daily or weekly deposits to our bank accounts is preffered. We do not deal with USA banks either and we prefer to keep our currency in Euro. We started to investigate Paypal and discovered that users complained about Paypal stealing their money, freezing their accounts, holding their funds and even doing reverse bank deposits so this is not an option for us. We were also looking at MerchantBoss which is an offshore merchant account something right up our alley however there was some negative turbulence in this forum about their service, peraps it was all a big misunderstanding. Again we are looking for the cheapest solution for the best service available. All advice and opinions welcome and I do thank you in advance for responding.

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What country are you based?

Hello,

We are operating out of Panama. We need a merchant account who understands our offshore needs.

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Isn't the currency of Panama the US dollar. Why do you want to deal in Euros?

Hello Daniel,

Your question is simple but the answer is complicated. When working offshore it is best not to work with USD, There are many reasons for this also the choice of bank being used also must be taken into consideration and last what jurisdiction the merchant bank is in all of this plays an important factor.

So which merchant account do you suggest ?

Thanks
SuperMonster

So I take it you are not physically located in Panama ;)

I can't recommend you any suitable merchant accounts as all my experience is dealing with Australian banks (lots of fun).

Good luck with your new business.

I think the biggest problem is, that you want an offshore MID but don't want it in USD. !

If you don't want any exchange fee from USD to EUR, then as far as I know, you will need to have a European MID. But that don't fit in your location of Panama.

For what you look for, you will need to accept that you only can have your funds in USD or you should expect an exchange fee for getting your USD exchanged to EUR.

The rest of your requirements shouldnt be a big thing to find.

Hello,

Any offshore merchant account thats reliable with low rates would be fine with me, weekly payouts is a plus.

Thanks
supermonster