Bank Accounts

Merchant Account

Through IBCC’s network of European banks, we are able to assist you with the setting up of offshore merchant accounts, which includes opening a merchant account in your EU company’s name with an EU based acquiring bank.
What is a merchant account and why open one? Merchant is a business / company that accepts credit card payments. Merchant account is an account opened with an acquiring bank to accept credit card payments. An acquiring bank is paying all credit card settlements to the merchant’s bank account.
Merchant account is almost an essential aspect for many businesses these days, since clients are demanding more and more for the ease of paying immediately for a product or service using their credit card.
We accept all kinds of legal businesses wishing to accept credit cards on their websites as well as businesses who need to accept orders via phone or email.

Here below are few steps you need to take in order to start your merchant account setting:

Step 1: Fulfill basic requirements for pre-approval application (free of charge):

• Website which includes products / services description, pricing and delivery information, terms & conditions, refunds policy, full contact details (including business address and phone number)
• Planned business activity. It is important here to understand why a merchant account is necessary for your business and what will be the incoming / outgoing transactions on the account.

Step 2: Send us documents

• After pre-approval, we require the following documents:
• Company documents (we can provide you with a low-cost EU company, if required)
• Recent company bank account statement
• Passport copy of owners and directors
• Proof of address for owners and directors
• 2-6 Months Processing History(if available)
• Business plan (if required)

Step 3: Approve merchant account fees

After your application approval you will receive agreement with the bank for merchant account services. The proposal of the bank will describe the following conditions:

• Processing fee
• Integration
• Monthly fee
• Transaction fee
• Claim processing fee
• Refund fee
• Rolling reserve (for a term not exceeding 180 days)

The above fees vary and are offered according to the business activity type, planned turnover and perceived business risk.

Step 4: What will you receive?

• multicurrency IBAN (in SEPA zone) or to your corporate bank account
• access to internet banking
• merchant account gateway on your web site that will accept VISA and MasterCard online payments

Step 5: Receive more! A fully set EU company for your online business.

Here at IBCC we have been offering clients from all over the world the most effective solution combining in one bundle: EU Company: Scottish LP: tax transparent, confidential, reputable structure, with no requirements to submit accounting statements

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EU Corporate Account

with client’s full control, low transaction costs, modern and safe internet banking
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EU Merchant Account
with processing platform based at the same bank with the corporate account, making it easy for the client to receive funds from the online payments

Apply now and receive full description and fee proposal of our Merchant Account Package.
Our First Stop Advice is free of charge! We will guide for the easiest way to open your merchant account. You do not have to have previous processing history. But if necessary we will suggest improvements to your website in order to correspond to the bank requirements. Don’t hesitate to ask us questions.