Eternity Law International News Opening merchant accounts for High Risk activities

Opening merchant accounts for High Risk activities

November 10, 2020

Companies are looking for expanding frames of their business and bring it to the international level and often decide to engage in such types of work that are characterized by high risks. This is especially true for online commerce. However, this area is distinguished by the presence of specific conditions and rules of work, and the companies employed in it impose strict requirements for confidentiality.

In this situation, opening a High Risk account is necessary in order to competently conduct transactions and payments. The presence of such an account will allow you to work with accounts related to the high-risk activities, such as the following:

  • Forex and bitcoins business;
  • services for dating and file transfer;
  • trading with licensed generics and other pharmaceutical products;
  • brokerage services and financial intermediary operations;
  • virtual halls with slot machines, lotteries and other forms of gambling;
  • sale of products for animals, tobacco products and others;
  • booking tickets, services of travel companies, etc.

The procedure for opening a High Risk account involves financial costs and requires a large package of documents. So that this process does not take too long and does not lead to large expenses, turn to experienced specialists who have been working in this area for more than a year.

Advantages of merchant accounts

In most cases, in order to develop a high-risk business, users choose merchant accounts, with the help of which they can optimize e-commerce to the maximum. With this solution, you will be able to accept and process clients’ bank cards by making payments remotely or through a POS terminal. The merchant account has the following advantages:

  • protection of the management of transactions with high risks, including the use of offshore jurisdictions and foreign acquirers;
  • the account is connected with the main bank account;
  • the client can pay for services directly through the form on the site;
  • availability of many methods for making payments;
  • optimized procedures for taxation and foreign exchange control, etc.

Help from experienced professionals

Our company works with all types of services related to the opening of High Risk accounts. Employees with the appropriate qualifications and many years of experience will help in the following:

  • chose a bank suitable for partnership relations, which will require the provision of a minimum set of information;
  • draw up the necessary documents;
  • accompany at all stages during account opening;
  • advise on any questions.

We fully preserve the confidentiality of customer data and chose for each client only the most reliable partners, the best implementation methods, and think over the work scheme to the smallest detail.

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