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Thread: Best place to get a merchant account?

  1. #1
    God/dess scarlett_vancouver's Avatar
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    Default Best place to get a merchant account?

    Not necessarily for an 'adult' business... I'm having trouble navigating through all the companies that offer merchant account setup services.

    Ideally, I'd like to set up an account under an umbrella company name that can be used for a bunch of (non-adult) enterprises, but it looks like all the US-based service providers (like beanstream) require a different account for each type of card, currency and company.

    This company http://globalmerchantcards.com/ is based near me, and seems like they'd facilitate the umbrella dealie. I WOULD be claiming all of my income, so I don't know that the offshore thing would be necessary, but it would be handy to have an account in Belize, as it's a country well known for being hospitable to canadian money. Are the risks reduced since the company is registered in BC and assumedly I could go after them provincially if something went awry?

    Any opinions/advice appreciated!

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  2. #2
    Sitri
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    Default Re: Best place to get a merchant account?

    The best place I found is through Quickbooks. They have a payroll service, merchant accounts, etc.

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    Banned Melonie's Avatar
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    Default Re: Best place to get a merchant account?

    Two issues. First, if you are not planning on including an 'adult business' under your umbrella, then any of the merchant account banks/providers will be happy to work with you. It is only where 'adult businesses' are concerned that the criteria for obtaining a merchant account seem to resemble an Olympic pole vault.

    Second, and this may be far less applicable for Canadians than it is for Americans, the very existance of an offshore bank account, and especially making regular money transfers to/from an offshore bank account, can attract a great deal of scrutiny by various government agencies towards the account holder these days. In the USA, the FBI are focusing on this issue as part of a 'follow the money' investigation of potential terrorist supporters, and the IRS are focusing on this issue as part of a tax shelter investigation program.

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    Banned Katrine's Avatar
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    Default Re: Best place to get a merchant account?

    We use National Bankcard Systems-NBS. I am friends with a rep so we got a good deal through them.

    http://www.enbs.com/

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