Overseas Merchant Accounts

dasha101 · 03-01-2007

Are these kinds of merchant accounts legitimate? I know offshore merchant accounts do exist but how can we be sure that it is legitimate? There is a great risk for fraud offshore merchant accounts.

swapnil90 · 03-02-2007

Quote:

Originally Posted by dasha101

Are these kinds of merchant accounts legitimate? I know offshore merchant accounts do exist but how can we be sure that it is legitimate? There is a great risk for fraud offshore merchant accounts.

I agree....Net transactions are quite risky...Merchants have to b met one...u cant direclty transact with them w/o knowing them

etali · 03-02-2007

As far as I know they're legal, but they aren't governed by the same financial bodies that would govern an account 'at home'. If you opt for one with a big bank then you should be safe though.

swapnil90 · 03-02-2007

Quote:

Originally Posted by etali

As far as I know they're legal, but they aren't governed by the same financial bodies that would govern an account 'at home'. If you opt for one with a big bank then you should be safe though.

hmm...i dun trust ne thing...even PayPal is no more safe...i think the only option left now is to use the "real life" banks

dasha101 · 03-04-2007

I think you're right to just stick with banks. If you would compare the charge of overseas merchant accounts, paypal and banks, which is more expensive?

swapnil90 · 03-04-2007

i think Banks are cheaper...i dont about outside India....but Indian banks are pretty cheap for transactions...I mean hardly anyone uses a PayPal a/c

dasha101 · 03-06-2007

I think paypal is the most frequently used method of payment for online transactions. Is this seldom used by merchants online? I thought this is the most popular.

swapnil90 · 03-06-2007

I meant that hardly any merchant in India....and these are not web related merchants....these are the merchants who run shops and manufacture goods

**louj** · 03-15-2007

For offshore money transactions, we usually use paypal or e-gold in our company. And our CEO mostly does all the necessary transactions so such transactions are always viewed by the marketing department and the CEO as well. So I think bank to bank transfers are commonly used.

**rant** · 03-17-2007

Not all offshore merchants are fraudulent, the only possible problem you might encounter is that some offshore merchants can't do business with your banks or other credit card company at home. The best way I think is still to use paypal or e-gold, at least you can check their validity in the early stage of transaction if you are using such service.