High risk business like gambling, CBD, nutraceuticals, telemedicine, adult entertainment, or cryptocurrency often faces challenges when trying to work with traditional banks and credit card processors. These problems may play an active part in affecting your payment procedures all around the world. However, if your company has been declined by U.S. banks for a merchant account, opting for offshore high risk payment processing can be reliable and secure. 

Why? Luckily, offshore credit card processing is an option that can provide high risk merchants with long-term, secure solutions. You just need to find a reliable partner who helps you set up your high risk offshore account, making your payment processing process seamless. 

Let’s uncover how an offshore account serves as a long-term solution for your business, especially when paired with the right payment processing solutions.

What Is Offshore Payment Processing?

Offshore payment processing allows businesses to accept card payments through a financial institution located outside of their primary country of operations. It works by setting up a merchant account in another jurisdiction and connecting it with a high risk payment solution to handle transactions globally.

This is particularly relevant for high-risk industries that experience frequent declines from domestic institutions. With the help of offshore banks, these businesses can access the same tools as any standard merchant, often with fewer restrictions and more favorable processing limits.

Why High Risk Merchants Turn to Offshore Accounts

For businesses facing hurdles with traditional banks, offshore accounts open new doors. These are just a few of the reasons high-risk merchants opt for offshore payment processing.

  • Higher Approval Rates: Offshore banks are more flexible and willing to work with industries that U.S. banks shy away from. 
  • Broader Industry Acceptance: Businesses in areas like CBD, nutraceuticals, telemedicine, adult entertainment, and background checks often qualify with offshore providers even if denied elsewhere. 
  • Less Restrictive Processing Caps: While domestic providers may offer you a $50,000 monthly limit, offshore banks can accommodate much higher volumes, sometimes without caps. 
  • More Flexible Underwriting: Offshore institutions are often more open-minded about sales patterns, foreign ownership, and credit history issues.

Even companies with acceptable credit standing sometimes choose offshore payment gateways to access international markets and expand their capabilities.

Who Typically Needs Offshore High Risk Merchant Accounts?

Offshore merchant accounts are particularly suited to businesses if

  • The business lacks an established credit profile or has a history of credit issues
  • The owner’s personal credit history may not meet standard banking requirements
  • The business experiences a high volume of chargebacks or returns
  • The owner is based outside the United States or holds non-U.S. citizenship
  • Transactions frequently involve international customers or foreign currencies
  • Sales activity is inconsistent or varies significantly over time
  • The business handles a large number of transactions or deals in high-value purchases

In these situations, getting approved for a traditional merchant account can be difficult. Offshore payment processing helps sidestep these roadblocks by partnering with institutions that specialize in high risk payment processing solutions. They can provide a secure pathway to keep your cash flow smooth.

How Offshore Payment Processing Works

Getting started isn’t as complicated as it may seem. High-risk merchants can begin processing through offshore accounts in just a few days. Here’s what the process looks like.

  1. Submit an Application: Complete a secure online form that gathers basic business and ownership details. 
  2. Provide Supporting Documents: Submit necessary records, including financial statements, ID verification, and business details. 
  3. Underwriting Review: Experts assess the health of your business, its chargeback ratios, and overall risk. 
  4. Account Setup: Once approved, you’ll be linked to a secure high risk payment gateway with full transaction tracking and fraud prevention tools. 
  5. Start Accepting Payments: You’ll gain access to multiple offshore banking partners, which provide protection and stability.

This approach simplifies how high-risk businesses access payment processing, especially when compared to the slow and uncertain approval process through U.S. banks.

Benefits of Offshore High Risk Payment Processing

Offshore merchant accounts can be beneficial for your business in the short or long run. Here is how offshore high risk merchant accounts can support business growth and operational stability.

  • Global Reach: You can accept payments from customers around the world, across various currencies. 
  • Reduced Scrutiny: Offshore banks tend to have less restrictive rules, which is especially helpful for companies with unusual sales cycles or non-traditional ownership. 
  • Expanded Limits: Larger monthly volumes and per-transaction caps allow businesses to scale more comfortably. 
  • Chargeback Management: Offshore payment processors often offer real-time alerts and chargeback mitigation tools. 
  • Multiple Accounts: Many offshore processors set up accounts with multiple banking partners. If one account gets restricted, your business remains up and running.

With access to a reliable high risk payment solution, businesses get faster approvals, broader payment options, and lower exposure to regulatory red tape.

Final Thoughts

Running a high risk business comes with a lot of challenges. But with offshore high risk payment processing, one of your problems can be solved effectively. From selling internationally to managing a product line, this approach is simple yet practical. With a secure high risk payment solution, offshore accounts bring stability and freedom to businesses that need it most.

The banks may not understand your needs, but Cathedral Payments does. We offer a fast and secure payment processing solution to your high risk business, making your payment getaway seamless. From fast approvals and dedicated support to reliable hardware and payment tools, you can focus on growing your business. Partner with us and set up your business for real results. 

Talk to a Cathedral Payment specialist now to get a free rate quote!