How to get a Merchant Account in United States, if you are Non-Resident of United States
Today, businesses are expanding their reach to the global level that is helping them to grow at a much faster. This explanation of business has been observed due to the advent of technology. Technology also has help businesses to create a point of sale that can be accessed from anywhere in the world and customers can order online and pay through their cards.
But, one problem that business can face if they don’t have experience of selling and sending goods to other countries is their lack of physical presence in that country. As all the countries have their own laws and requirements for starting a merchant account. But, in this article, we will discuss only the requirement and ways to get a merchant account for a business that is not registered in the United States and likes to sell their products in the country.
The basic requirement of getting a merchant account in the U.S.
These conditions have been fulfilled:
- The business needs to have a registered “Doing Business As” name (DBA) that proves that the business is incorporated in the United States.
- A physical address of the business that an applicant must provide.
- A bank account in the U.S. Bank should be registered in the name of applicant’s name.
These are must required details an applicant needs to provide while applying for the merchant account in the United States.
But, a business that is registered in any other country have one option is to set up a corporation with the U.S. based company by signing a contract with them, stating that the company incorporation will act as the company of U.S. that handles the entire sales, shipping and collecting payment process of the business done in the United States. This type of incorporation will work. But one that comes with incorporation is adding a business partner in the working, which much business may not like to deal with.
You need an agent
If the company decides to have a separate and permanent account in the name of the business. Or owner without any incorporation. For a dedicated account, there is a need for an agent who has registered as a member of the business. That will help businesses to prove that they have a bank account registered in the United States, which will help business to acquire the payment of their transactions that will be done in the United States.
For this, if the company has an agent in the United States the company can have account easily. But, if the company doesn’t have any reach in the country. There are companies like Merchant Stronghold. In the United States, we can help businesses to set a merchant account.
While starting the business process in the United States or any other foreign country. Business should have a good amount of customer base. This will be worth enough for the business to cop up with the costing of doing business internationally.
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Great post. The idea of having a merchant account and accepting credit cards is well presented.
Anyone who is starting to deal with the business merchant account can understand this.
Thanks for sharing. Keep it up 🙂