| Merchant accounts are necessary for anyone | | | | In a merchant account, a certain percentage |
| who wants to take credit cards, especially | | | | of the money in the account is kept aside for |
| over the Internet. However, sometimes it can | | | | charge backs in case a customer returns an |
| be very expensive with fees and deposits to | | | | item and wants his/her money back. Offshore |
| set up and maintain these merchant accounts. | | | | accounts generally reserve a smaller |
| By moving your merchant service off shore, | | | | percentage of your money for this purpose |
| however, you can save some money and still | | | | than onshore accounts. |
| experience good service. | | | | |
| | | | One of the disadvantages of an offshore |
| In today's marketplace, paying by credit or | | | | merchant account is the high fees the |
| debit card is commonplace and if you want | | | | institution charges as service charge on each |
| your business to grow, you must offer your | | | | transaction. Onshore institutions charge less |
| customers this facility. A merchant account | | | | for this service. The financial benefits of |
| handles all your credit card transactions. | | | | an offshore account however, more than make |
| The money your business receives through | | | | up for the high fees charged. |
| credit card payments is deposited here. You | | | | |
| can choose to transfer the money to your | | | | If you, like most business owners, big or |
| normal business account or you can use the | | | | small, are looking for tax breaks, then you |
| money in the account to buy supplies. | | | | should head offshore. With an offshore |
| | | | account, you can claim part of your income as |
| When you think of an offshore account, you | | | | foreign income. It will still be taxed but at |
| probably conjure up images of something dark | | | | a much lower rate than your domestic income. |
| and unlawful. The fact is that off shore | | | | A word of caution though, consult your |
| merchant accounts in the Caribbean, Latin | | | | accountant or tax attorney before going |
| American and Europe are legal. They offer the | | | | offshore, just to make sure you are not |
| same services as their counterparts onshore, | | | | breaking any laws. |
| but at a cheaper cost. | | | | |
| | | | In today's world, technology is the driving |
| You can realize instant cost savings using | | | | force behind the way we do business. It lets |
| offshore merchant accounts. While up-front | | | | you access your bank account, anytime, from |
| deposits are a perquisite for all merchant | | | | anywhere. You can receive online payment for |
| accounts, the offshore ones require smaller | | | | goods and services via credit card, 24x7, |
| deposits up-front. This works to your | | | | without ever having to leave your office. |
| advantage, freeing up funds to employ in your | | | | With an off shore merchant account added to |
| business. | | | | your business arsenal, you are sure to reap |
| | | | even higher profits. |