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Originally Posted by nudecanada
I'm perfectly calm, sunshine. Lose the snappiness, I might be a prospective customer. 
So what can you do for Canadians?
And what are the restrictions on that US merch account you just posted? And who is the gateway for it? |
lol I wasn't trying to be snappy, that 'sunshine' word is one of my southern weaknesses heh heh
Actually you hit on a very common perception of the merchant accounts. Many have learned from past experience and/or word of mouth that there can be large expenses involved with this ... and sometimes there are!
Like I said, its unfortunate but true that every single bank is different and has different criteria set for it. Some offshore banks are just horrendous for gouging imho. I very, very seldom will work with a bank I'm not fully comfortable with. I can tell the client about them if there is no other alternative but .... well enough said on that. lol
Canadians are a unique group, its peeves me to no end that US banks consider ALL canadians high-risk, doesn't matter if you are selling tennis shoes or porn subscriptions! Sorry I digress ..
For you guys I like to go find out volumes, cb ratios and credit issues then find out if you are incorporated in the US.
Depending on details some US banks will allow for Canadian ownership and I would try to place you here.
If once I know details its obvious I can't use a US bank then I'd suggest probably an EU solution.
I'm sure you are well aware of trying to obtain the types of accounts you'd need from a Canadian source, its a nightmare and why so many vendors go with US/EU.
BTW US banks require non residents to have:
US corporation with tax ID number
US bank account
they must also provide 2 years of past tax returns in many instances