Offshore Merchant Account -

Western Union Money Transfer

YES, we accept credit cards!" - these five words are among the most powerful in the business language!

We welcome ALL corporate businesses excluding X-rated adult oriented sites and we can serve clients from almost ALL countries.

  1. Transaction Rate:

We charge a 5.75-7.50% transaction rate with a minimum of US$0.50 per transaction, refusals to accept cards are also subject to a US$0.50 charge. Whilst in some respects these charges may seem higher than 'on-shore based merchant accounts', please view them in relation to the fact that they include:

- A fully functioning No-Reference Offshore Numbered Bank Account in USD currency which can be used independently of the Merchant Account.

- A completely set up Offshore Merchant Account to accept both Visa and MasterCard debit/credit cards.

- The availability of both ATM Debit and/or Secured Credit Cards directly linked to your clien'ts merchant account.

- No Reporting Requirements, US clearing nor other financial obligations.

- No tax on any funds held in the accounts.

- Many privacy related account facilities not available elsewhere

  • Non-Refundable Set up Fee:
  • For a typical client we charge a one time set up fee of Eur 750.00. This fee may vary if the client has deficiencies in the security of his server. We want the web site to be secure and comply with a series of requisites.

  • On Going Fees:
  • There is a monthly fee of US$25.00.

    These rates are for a total offshore turn-key solution: Internet Credit Card Acceptance Account, Payment Gateway Services, Numbered Bank Account in USD currency, and one linked Visa Debit Card. No additional fees to Offshore Manual or the acquiring bank, or any other third party, need be made before your company will be ready to accept payment by credit card over the Internet.

    Client Type: We will only contemplate corporate clients. No persons or "doing business as" individuals. The client must open an account with our offshore bank and all cleared transactions will be deposited on this account in no more than a 24 hr. period including weekends and holidays. Needles to say the funds are accessible via debit/credit card, check or wire transfer. Of course an incorporated customer can use his already existing entity. He will just have to provide us with the usual corporate documentation such as certified copy of the Certificate of Incorporation, Memorandum & Articles of Association, Certificate of Good Standing, Power of Attorney naming account signatory(ies) etc. Also, as far as a new company is concerned, Offshore Manual will handle the incorporation process and all other necessary diligence.

  • Rolling Reserve/Security Deposit:
  • i) Our bank will withhold a reserve equivalent to 15% of the total annual volume of transactions for an existing e-commerce site provided that the company can proof a maximum charge back history of 2% of the total transactions. If the client is a new site and has no history, the bank will demand a reserve until the limit of 15% of total transactions occurs. The reserve account of needed will be placed in a CD bearing interest at a rate of 4% per annum.

    ii) For clients having a charge back history of more than 2% of the total transactions, then all incoming credits will be held in a 'blocked' account for a 6 month period. Funds held in this 'blocked' account will be used by the bank should they have to pay out any refunds or charge backs which your clients' customers may present. At the end of the 6 month period, the balance of the 'blocked' funds will be released to your main account. Realising that customers do need access to incoming funds, the bank will release these 'blocked' funds to your client's main account at the rate of 15% per month. Also, since clients are denied access to them, the bank will consider 'blocked' funds to be 'on deposit' and will pay a 4% interest on the average annual balance held in the 'blocked' account. This interest will be credited to your client's account on a monthly basis. These terms may be reviewed by the bank at the end of the first 6 month trading period and if there has been a good trading history during that time - i.e., no or minimal payments back to customers - very serious consideration will be given to either reducing the 'blocking' period or increasing the 15% per month release rate.

  • The transactions are real time
  • and the charges are submitted daily by the operator of the site or owner of the business via dedicated in-house software. Then the money of charge is automatically "frozen" on the clients account but the merchant has to do close of day in order to have the funds credited to his account. The approval of the transaction is done automatically once the client or purchaser makes a transaction. Finally, we provide HTML instructions for the clients to use in their on-line order.

    Merchant Rates Updated February 1st, 2008
    High Risk Rate Authenticated Declined Holdback*
    0-500M 7.50% .65 .50 85% 1st month
    500-1MM 7.00% .65 .50 85% 1st month
    1MM + 6.50% .65 .50 85% 1st month
    Low Risk
    0-500M 6.00% .50 .50 15%
    500M+ 5.75% .50 .50 15%
    *6 month rolling reserve Holdback


    After signing and returning the merchant account agreement, the parties set up the data exchange procedures. For that purpose, dedicated in-house software is utilized as a confidential means of communication. The Merchant communicates the card data to the Bank via an on-line gateway, and the latter proceeds with approvals and credits, reporting the results to the Merchant within seconds.


    It is no secret that the today's world of business is not free from fraudulence and many cases of unfair card operations take place (e.g. using card data of other people for purchases, or disputing the fact of one's own purchase later on).

    It is essential whether the merchant is able to get a signed deal confirmation from the customer (e.g. the signed agreement, receipt, order, with the copy of the card attached). In case of future chargeback, those confirmations have to be presented to our bank.

    If not, the necessity arises for the bank to establish a 6-month long retention period, during which funds are being released on monthly basis, 15% each 30 days. This, for one thing, leaves some space for the merchant's operational activities and ensures protection against possible refund claims. The amounts kept with the Merchant Account are stored at 4% p.a. calculated from monthly average.

    ALTERNATIVELY, it is possible to place a security deposit with the bank and to avoid blocking of funds - Such security reserve being 15% of the total annual volume of transactions for an existing e-commerce site provided that the company can proof a maximum charge back history of 2% of the total transactions.

    For bigger amounts are apparently different from average authorized amounts, (those exceeding 2% of the total turnover) no release is foreseen before the 6-month term expires.

    In case the merchant can show the bank he is better protected from unmotivated chargebacks, the release percentage and terms can be reviewed.

    Delivery Time: 3-4 weeks.

    Price: Eur 750.