Merchant Account in the USA — what is it and why is it needed?

[Lord777]

A merchant account is a special type of bank account that gives businesses access to funds received from credit and debit card payments. After the payment processor coordinates its actions with card networks and issuers to conduct card transactions, funds from card payments are credited to this account, and then transferred to your corporate bank account. As a rule, you get access to funds one to two business days after the transaction is completed; in some cases, you can get access to funds earlier.

Content​

1. Why do I need a merchant account in the United States?
2. How do I open an American merchant account?

Why do I need a merchant account in the United States?​

You will need a merchant account in the United States if you run or open your own business and belong to one of the following categories:

• the bank with which you do business DOES NOT open a Merchant Account for you
• You don'T want to deal with the US banking system
• Your company is NOT registered in the United States
• You trade online
• Your credit score is NOT A1

There are a number of organizations (all of them have their main representative office in the United States) that provide those who wish with an authorization status (Merchant Status). At first, the list of their services may attract you, but more often it turns out to be much more complicated:

1. the cost of the constituent package is too high;
2. You have to purchase expensive card processing equipment or software;
3. You must have a company in the US and a current account with one of the US banks;
4. You must be registered with the Federal Tax Service;
5. Your trading experience should be at least two years, and so on.

A credit card service authorization account is an account with your bank that processes information about your expenses/income through electronic communication with clearing centers of leading credit card service systems, such as Mastercard, VISA or AMEX. Such systems contain information about the current account of each cardholder on a global scale, and in some cases provide the ability to check the card and get information about the account status in real time.
The authorization accounts offered by us are currently available in real time, verification and confirmation of the authenticity of the information specified in the card, as well as the corresponding transfer of funds to your account is usually made within four banking hours after receiving the request. Communication between the client and the bank is carried out by "direct dialing" from computer to computer or directly via the Internet, while full protection against unauthorized access is guaranteed. To do this, use the Pretty Good Privacy (PGP) program. This software is included in the package of services for opening an authorization account.
The commission that the bank reserves for each client payment is 6%.%

How do I open an American merchant account?​

1. You must present a more or less long-term business plan that describes the nature of the products or services that you actually provide.
2. As a guarantee against unauthorized actions on your part, the bank requires a deposit, the amount of which may vary, but it can not be less than 50,000 USD.
An authorization account with a bank provides a number of virtually unique advantages to our clients:
1. Tax-free offshore account that does not require identification, recommendations, or credit checks
2. An International Debit Card that allows you to access your funds from anywhere in the world
3. The ability to accept VISA and Mastercard cards for payment in ANY currency
4. Permanent 24-hour electronic access to your account

(c) https://gsl-news.org/26739-chto-takoe-merchant-account/