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merchant account and llc

Discussion in 'Business & Tax Advice' started by alanpafka2, Nov 29, 2011.

  1. alanpafka2

    alanpafka2 Newbie

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    Hi,

    I'm from Europe. I need a merchant account and do I also need a registered LLC or any other form of a company?

    Can I also register an LLC online?

    How do I get a merchant account - is this difficult?

    I would be grateful for your answers! thanks guys! :)
     
  2. charmol

    charmol Junior Member

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    It depends where in Europe you are I suppose, Each country will have different rules for registering companies.

    You could buy a "shelf" company, which is one that has already been set up to sell to people cheaply wanting one quickly. Or you could get a company to set one up for you.

    In Britain I'm sure you can register a Limited company online with Companies House, if you fill out all the forms, but its a bit of a hassle, its the cheapest way though. But you can get a cheap shelf company for under 20£, so even though that would be slightly more expensive, its still not a huge amount of money, and probably more cost effective than spending the time on the forms.

    ~|ChaRoN|~
     
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  3. alanpafka2

    alanpafka2 Newbie

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    thanks for the info. I will look this up.

    But do you know anything about getting a merchant account??
     
  4. charmol

    charmol Junior Member

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    I'm sorry I don't know much at all about merchant accounts, I've never had one. If I need to take payments I use Paypal and AlertPay. I think it depends what you are going to do with it if you need a tailored solution. If you are making an ecommerce site, you could use some kind of shopping cart software like 2checkout or zencart.

    All banks offer merchant accounts if you tell them you are setting up a business, but I refused when they asked me, I didn't need one and I'm sure they will charge big fees, but if you need something specific to your needs, they would be the best option, after all, taking payments is what they're in business for.

    Sorry, but someone with more experience will have to give you some advice on this one.

    ~|ChaRoN|~
     
  5. jonnyquest

    jonnyquest Regular Member

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    Merchant accounts usually require banking information and credit check on the individual. Lots of places you can find on the net that offers merchant accounts.

    Don't know how the European countries handle this, but in the USA this is usually all it takes.

    JQ
     
  6. jonnyquest

    jonnyquest Regular Member

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    Don't know that is absolute in the US. Found a bank that does business accounts online.

    WSFS Bank in Delaware

    http://wsfsbank.com/default.aspx

    Check your LLC for the actual name of your business
    Get an EIN number from the US IRS
    Physical address of your business.

    Have not opened account with them, but it appears to be rather easy.

    You are probably going to fax or email copies of your LLC documents the state sent you at a minimum.

    All the best and post back here if you are successful.

    JQ
     
  7. MerchantBroker

    MerchantBroker Newbie

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    Depends on your industry - what are you selling? Different countries and banks take varying views on different industries.
     
  8. superaff1984

    superaff1984 Power Member

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    I have an LLC setup I'm not using. It's called Capital Source LLC. I could sell it to you. Help you get the account setup as well. As long as you don't mind paying me. Let me know and I'll e-mail my accountant to see what we got to do to transfer it to you. I can provide you with my Skype or Phone number