MERCHANT ACCOUNT


Through Sanemto network of European banks, we are able to assist you with the setting up of offshore merchant accounts, which includes opening a merchant account in your EU company’s name with an EU based acquiring bank.

What is a merchant account and why open one? The merchant is a business / company that accepts credit card payments. A merchant account is an account opened with an acquiring bank to accept credit card payments. An acquiring bank is paying all credit card settlements to the merchant’s bank account.

A merchant account is almost an essential aspect for many businesses these days, since clients are demanding more and more the ease of paying immediately for a product or service using their credit card.

We accept all kinds of legal businesses wishing to accept credit cards on their websites as well as businesses who need to accept orders via phone or email.


Basic requirements for pre-approval application (free of charge):

  • Website which includes products / services description, pricing and delivery information, terms & conditions, refunds policy, full contact details (including business address and phone number)
  • Planned business activity. It is important here to understand why a merchant account is necessary for your business and what will be the incoming / outgoing transactions on the account.

After pre-approval, we require the following documents:

  • Company documents (we can provide you with a low-cost EU company, if required)
  • Recent company bank account statement
  • Passport copy of owners and directors
  • Proof of address for owners and directors
  • 2-6 Months Processing History(if available)
  • Business plan (if required)

At this stage, we can provide you with the fees to set up the merchant account (including payment gateway) as well as transaction fees. Fees vary and are offered according to the business activity type, planned turnover and perceived business risk.


MERCHANT ACCOUNT WITH SCOTTISH LP

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