Offshore High Risk Merchant Account

Offshore High Risk Merchant Account



Get the​ experience from not just a​ seller of​ a​ high risk offshore merchant account – but a​ merchant who has been thru all the​ hoops and​ has seen everything from “both sides”.

The risks of​ offshore high risk merchant accounts

Most sellers of​ such high risk merchant account are delivering low-grade products – or​ simply take your money and​ run away (this has happened to​ me several times in​ the​ past). These sellers have never processed 1 single cent themselves from credit cards – and​ therefore do not know (or care) about the​ requirements of​ a​ merchant. They only know how to​ sell a​ useless “solution” that will go down after 1-2 months of​ use.

These days the​ scam artist make your account run for​ 2 months and​ then suddenly it​ gets closed – and​ then you never see the​ funds from the​ last 3-5 weeks processing – plus the​ standard 10% reserve that you normally should get back after 6 months.

A new variation of​ this scam is​ that the​ high volume high risk merchant account processor has very poor reporting system making it​ difficult or​ impossible for​ you to​ see when and​ how much you will get paid for​ which period.

For example a​ gateway processor that claims to​ be located in​ Switzerland (they have no telephone that actually works) and​ be operated by a​ Swiss person shows only 7 transactions per page – and​ has no reporting system whatsoever. This processor claimed that their discount rate was 8% and​ reserve was 10% - but actually, they kept 53% of​ all processed amount – and​ after7-8 weeks the​ account suddenly closed. This so-called Swiss gate also put a​ chargeback belonging to​ a​ completely different merchant on my account and​ never removed it​ even though they promised to​ do so. Another chargeback I was able to​ prove that the​ product was delivered but the​ chargeback still remained.

Another example was a​ so-called Chinese gateway processor using a​ gateway went down (lost their bank connection) also after 6 weeks of​ processing with them – and​ never told anything to​ me - ever – so for​ 2 weeks all my orders got declined – making my potential customers upset and​ me very frustrated. Besides the​ cheating then this gateway is​ so badly built that you can only use Internet Explorer to​ access the​ gateway with and​ you must disable popup blockers. the​ DNA-gateway does not permit you to​ use the​ mouse for​ copy/paste of​ customer info which makes it​ very slow to​ use. This doesn't really matter because they never pay you 1 single cent.

A great way that these sellers also make money is​ to​ make up fines from Mastercard or​ VISA – that supposedly requires 1-4 years litigation. These fines do not exist at​ all or​ at​ a​ much lower amount – or, are only temporary fines that are refunded to​ the​ processor after a​ short “hold”-period. the​ processor has already deducted these funds from the​ merchant – but the​ merchant never gets these funds again. Ever.

A processor broker/seller having a​ foreign name – Gany Karim – (this is​ not his real name – just the​ name he uses for​ his customers – so he can not sue me for​ defamation and​ supposedly located in​ Canada sold me those 2 solutions. the​ total loss was more than 40.000 USD in​ direct losses – plus I was not able to​ process for​ several months waiting for​ a​ new solution to​ be made – which never came. However, all his “fees” that ran into 2.000 USD – including extra fees that were never explained to​ me – was deducted from my processed funds and​ funny enough I never saw 1 cent at​ all.

Before a​ processor loses his bank connection then the​ bank has for​ some time asked the​ processor to​ change certain procedures which the​ processor chooses not to​ do so. Then the​ bank closes the​ processors merchant account and​ then the​ processor blames the​ bank for​ the​ problem.

When you ask the​ processor which bank they use then they will never tell you.

After a​ couple of​ years you have forgotten all about it​ and​ have moved on – which is​ what these scam artists hope for.

These processors also have no or​ very poor customer service (before they close down your account). and​ after they close down the​ account – then they have zero customer service and​ you can not get hold of​ them at​ all or​ not talk to​ the​ decision maker.

Other times then the​ processor sets up another corporation which they process thru. Then in​ your contract it​ says that the​ processor is​ not liable for​ losses incurred if​ your processor is​ not paid. the​ funds will then be in​ the​ other company (that the​ processor also owns).

Are there any offshore credit card processors that are not con artists?

Yes, there are some good offshore merchant account processors out there. I use some of​ them myself for​ my own websites so I know that they are reliable.

You will get your own MID account and​ be able to​ accept VISA, Mastercard, ACH and​ maybe other cards also (depending upon your business area) – for​ a​ small setup fee of​ $599.

You also get to​ talk to​ a​ real life person – who knows the​ requirements of​ a​ merchant – and​ uses the​ very same processor solutions that I sell. So, I practice what I preach so to​ speak.




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