Open a merchant account

Starting from mid-2020, Private Financial Services clients have a unique opportunity to submit a preliminary application for opening a merchant account to more than 50 processing organisations around the world in 5 minutes, absolutely free!

Send request

In case if you are interested in the traditional method of opening an account, it is also possible, this information is provided below.

Open a merchant account

For any online business, be it an online store, an online school, a bookmaker, or any other online service, it is important to be able to accept credit and debit cards as a payment method.

A merchant account (sometimes called acquiring or processing) means a special bank account that allows processing and receiving payments from Visa, Master, American Express, UnionPay, Alipay and others bank cards.

Cash payments are a thing of the past and if you don’t move your business online today, you risk losing a large segment of customers tomorrow.

According to statistics, today more than 65% of consumers prefer cashless payment methods. By connecting payment solutions to your website, you will increase the number of customers and earn loyalty to your brand.

How does this solution work?

You fill in the required data

The filled in data is encrypted and automatically sent to more than 50 payment organizations around the world

Managers of payment organizations, having received this information, analyze the application

If they have any additional questions, you will be sent a message

As soon as any payment organization has provided a preliminary acceptance, you will immediately receive a notification with the conditions for connecting a payment solution and MDR (merchant discount rate)

You can immediately start opening a merchant account or wait for offers from other institutions and choose the most suitable conditions for yourself

Open a merchant account

The main advantages of this solution:

Save time on filling out dozens of questionnaires and negotiations

Save the time it takes to review. Applications sent through this form are considered by organizations on a priority basis

Save money – many payment institutions charge a preliminary review fee. Through this form you get a preliminary review for absolutely free

Save money twice – due to the fact that Private Financial Services have concluded agreements with processing organizations and we bring them thousands of clients, we get lower processing rates for our clients

Get help in opening a merchant account, even if you were refused. Having received comments related to the reasons for the refusal, the specialists of Private Financial Services negotiate with payment organizations and help open a merchant account!

Open an account

Open a merchant account

Private Financial Services has been opening accounts and merchant accounts in banks around the world since 1998. For more than 20 years, we have accumulated tremendous experience, knowledge and have concluded hundreds of partnership agreements with various banks and institutions. We have opened thousands of accounts for individuals and legal entities and even helped some banks to obtain licenses.

Private Financial Services are not limited to account opening. During this period, we also helped thousands of companies and entrepreneurs “unfreeze accounts”, dispute payments, obtain loans, leases, factoring, draw up investment portfolios, and helped some clients recover money from collapsed banks.

Our team includes specialists with colossal international banking experience who previously held various positions in banks, from ordinary managers to department heads.

Open a merchant account

The main countries in which we help with opening a merchant account (relevant at the end of 2020)

England

Hungary

Vietnam

Germany

Hong Kong

Georgia

India

Indonesia

Ireland

Canada

Cyprus

Costa Rica

Latvia

Lithuania

Mauritius

Malaysia

Malta

Netherlands

UAE

Poland

Portugal

Romania

RF

Singapore

Slovakia

USA

Thailand

Turkey

Philippines

Czech Republic

Open a merchant account

We help to connect processing for the following types of business

200

Merchant account connection fee starts from EUR 200

24

Preliminary assessment within 24 hours

14

14 days is an average timeline for the opening

60

Available more than 60 acquiring banks and payment systems

Open a merchant account

Available crypto acquiring

3

MDR from 3-10% for high-risk

500

We have opened merchant accounts for more than 500 clients

1,5

MDR from 1,5-2,5% for low-risk

200

Merchant account connection fee starts from EUR 200

Open a merchant account

Available crypto acquiring

24

Preliminary assessment within 24 hours

3

MDR from 3-10% for high-risk

14

14 days is an average timeline for the opening

500

We have opened merchant accounts for more than 500 clients

60

Available more than 60 acquiring banks and payment systems

1,5

MDR from 1,5-2,5% for low-risk

Commonly required documents for opening

As of end-2020 processing providers would be requesting following set of documents to open a merchant account:

For participants individuals

Certified passport

Selfie with a passport

Certified document confirming the place of residence

CV/Resume

For participants, legal entities

Certified set of corporate (statutory) documents

Certified extract from the business register

A diagram of the organizational structure

Extracts from previous current accounts (if any)

Share certificate

Brief business plan

Contracts with partners, examples of invoices

Extracts of the previous processing history (if any)

Please note that this is an average list that can be expanded depending on the service provider.
We also draw your attention to the fact that all documents, as a rule, should not be older than three months. If the language of the documents differs from English, then, as a rule, a notarized translation into English, or the language of the country where the account was opened.

Special attention should be paid to the website. As a rule, it should contain a privacy policy/data processing policy, SSL certificate, contact and legal information, policies for purchasing goods/services, return policies and other information depending on the specifics.

Open a merchant account

Opening procedure

At the initial stage, you should understand what goals you are pursuing by opening a merchant account.
After that, it is necessary to analyze possible processing organizations and compare their conditions and commissions. Having an understanding of which processing organizations are suitable for you, we advise you to contact one of the employees to clarify the opening procedure. Typically, this procedure looks like this:

1. Filling out questionnaires;

2. Provision of primary documentation;

3. Initial assessment of the case by the processing organization, in particular, checking the website, the declared activity, previous business history, beneficiaries, directors, company. Many processing organizations charge fees already at this stage;

4. If after the initial check no questions arise, then a more in-depth study (due diligence) is carried out; at this stage, you will be asked for additional information, documents, narratives;

5. If you have passed the check and the processing organization has no questions to you and your company, then further, you will usually need to sign various contracts and agreements;

6. Further, the integration with the processing organization begins, the information on the site and in the conditions is drawn up accordingly;

7. Next, test transactions are carried out;

8. After that, you can launch this payment solution live.

If you have successfully opened a merchant account, this does not mean that you have completely passed the verification. Most processing organizations monitor your behavior closely enough in the first months of operation in order to verify the information and data you have declared.

GET A PERSONAL OFFER!

  • European Companies
  • Offshore Companies
  • Bank Accounts
  • Companies in Estonia
  • Crypto-Licenses
  • Accounts for Crypto-business
  • Gambling licenses
  • Forex Companies
  • Non-licensed Forex
  • Merchant accounts
  • EMI Licenses
  • Funds/Trust
  • Licensing
  • Cryptocurrency Platforms
  • Other Services
  • Legal Advice/Legal Opinions

Private Financial Services will assist you!

We will really dive into your case, analyze and advise options and solutions according to your criteria

We will make our own Due Diligence of your case “through the eyes of a provider”, we will draw your attention to the aspects that require elaboration

If necessary, we will help prepare various legal forms and documents for the website, including privacy policy, GDPR, rules of use and others

Some projects, for example cryptocurrency, in accordance with the requirements of Visa, Master need a legal opinion (Legal Opinion). We can also help you with this

We will receive preliminary confirmation from the processing organization about opening a merchant account

We will help you to collect and correctly draw up all the necessary documents

We will provide all the necessary information and documents in the required form to the provider

We will carry out all the necessary procedures and negotiations with the provider before successfully opening a merchant account

We will provide comprehensive assistance in the process of work, if necessary

We will resolve any other issues related to the banking sector and finance

Private Financial Services – a reliable link of your business!