The Search is over….

As companies are in a frantic search to place both existing and new business due to merchant account closures in the US, many are looking offshore.  Getting an offshore account is fairly easy but finding a good one is usually by trial and error, this method can literally put a company out of business.  Finding double digit interest, with false promises of lowering the rates “once established” and high reserve amounts are common place, as most processors are sending their business to Banks where stability and financial resources are only as stable as the countries that they reside in. 

The biggest risks are obvious ones, slow payment, holding of reserves, and bank closure.  At 1 Merchant our preferred banks are G-7 world banks, and internationally accredited institutions that offer competitive base rates with reasonable reserves in addition these banks are some of the largest and most respected banks in the Europe.