February 26, 2009
what are the competitive interest rates when you set up an offshore merchant account?
constance asked:
i’m working for a travel agency and my supervisor has assigned me to open an offshore merchant account.
i’m working for a travel agency and my supervisor has assigned me to open an offshore merchant account.
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Comments on what are the competitive interest rates when you set up an offshore merchant account?
6.5% would be a competitive rate for a high risk offshore merchant account.
Depending on your business type, some processors might also ask for a rolling reserve. That means a percentage your sales will be held for a period of time and be released later on as the months go by. This is somewhat common, so get a few quotes and try and find a company with a good reputation with the best price.
You can get a free quote from the company I represent by following the link below:
The rate in the market would be ranging from 5%-8%. I suggested a range because your rates will actually depend on the type of business you are into and other several factors. Just to make sure that you get what you’ve bargained, contact a third party processor will be useful. They have coordination with foreign banks and will give the features that will suit your needs.