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  1. #1

    Merchant Account

    Hi! Well, this is the thing Iím looking help with from any of you guys:
    A partner and I are trying to start running a web hosting business from outside the U.S. (Argentina) and, of course, we are looking forward to operate globally.
    Since all of our suppliers will be American companies and noticing that the best (if not the only) way to collect money properly and safely is to operate with a business platform in the States (bank account, merchant account, LLC and otherwise), Iím researching about opening an American merchant bank account which would allow us to receive global credit card payments and withdraw funds via credit card, check exchange or ATM withdraw.
    Iīve read most of the posts involving this kinda situations buy Iíve got a new one Iíve not read of. Iím a U.S. citizen but iīve never actually lived in the U.S. (born abroad and family never went back), so as for the passport and SSN, Iíve got them, but my concerns are about the other requirements in order to open a bank account and particularly a merchant. Iíve got neither address nor credit record in the States. A BofA guy told me that address is no problem since I can use somebody elseís (friend, relative, etc.), but what about the credit record? Will that deny me the chance to open an account? Will creating any kind of Corporation ease things for me? On the other hand, is it possible to get a Business License, Tax ID and even a merchant acc for a business that runs and operates outside the States? Is traveling to America and file things personally the best choice? Are online incorporation companies (such as ParadiseInc.com and others) trust worthy?
    Thanks in advance,
    Tad

  2. #2
    Join Date
    Nov 2004
    Location
    Costa Rica
    Posts
    180
    I think your best bet for beginning your business would be using a processor like 2Checkout.. I know some businesses in Costa Rica and Panama who are using it successfully for their processing needs. That will get you off the ground quickly and easily.
    Pioneer Payments | high risk merchant accounts
    Processing credit card, electronic checks, and alternative payments
    EU & offshore incorporations and bank accounts

  3. #3
    Join Date
    Aug 2002
    Location
    US
    Posts
    416
    why don't you consider rather setting up presence outside US, it would be easier from taxation point of view
    Offshore incorporation and bank accounts
    @offshoreoffer - offshore services, tax optimization info

  4. #4
    With the scenario you describe, it will be pretty difficult to set up either a US merchant account or business bank account. The banks usually prefer you to have a physical location from which you are actually conducting business. Your chances would definitely be enhanced if you could meet with them face-to-face so that they can confirm your identity.

    2Checkout or WorldPay could be good alternatives. Or, if you want a direct account, you could apply with a non-US bank. If there isn't a provider in Argentina, you would have to form an incorporation in same country as the bank, but its possible to get pretty competitive rates. Not as low as the US, but probably a lot easier to set-up than a US merchant account.
    Dave
    PH: 800-761-7475
    PH: 802-876-5087
    www.RiskPayments.com

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