Merchant account

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Fafoo

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Jul 1, 2012
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Hi I'm Farah, I live in Domincan Republic and i need your help, I have a business online, I searching for a way to open a merchant account in banco popular, because I really don't want to use paypal, I don't know if that will be possible, please help me to find an answer!

Thank you!!!
 
cobraboy

cobraboy

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What's wrong with PayPal? People can use credit cards there. A merchant account in the DR is very expensive.
 
S

SKY

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Apr 11, 2004
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cobraboy said:
What's wrong with PayPal? People can use credit cards there. A merchant account in the DR is very expensive.
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Do you use Payapal to collect money in a DR bank? I was told that this is not possible.
 
M

mido

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May 18, 2002
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Paypal only works here if you have a US bank account, otherwise there is no way to get your money here.
 
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slas7713

Member
Aug 9, 2004
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A friend of mine opened a merchant account in the U.S. to use at his business in the DR, online transactions only, but then you have the same issue, you're money is in the U.S. Also it's not cheap and kind of a pain with all the paperwork.

Paypal also has a debit card available on your account, so you can accept credit card payments and withdraw the money in the DR using your Paypal debit card. It's the easiest way and you can use it like a credit card also, as long as you have funds there.
 
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Fafoo

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Jul 1, 2012
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How can I have that debit card from paypal? the problem is I can not take my money from paypal and send it to my bank account, here, in DR, and I don't want to use another person in the us for my transactions!
 
cobraboy

cobraboy

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Fafoo said:
How can I have that debit card from paypal? the problem is I can not take my money from paypal and send it to my bank account, here, in DR, and I don't want to use another person in the us for my transactions!
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Withdraw the $$$ via ATM then deposit it in your account.
 
M

mido

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May 18, 2002
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How can you withdraw US$ with your PayPal debit card while you are in the DR?
 
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rubio_higuey

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Feb 7, 2007
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I have a solution for you - apply for a US prepaid card, that comes with ACH data assigned to it (e.g. Readydebit.com, accountnow.com, or Western Union.com prepaid card). Then fund this card with some money so you can link it to PayPal. This account will also give you ACH data for ACH (electronic funds) funding - which is the way PayPal and GoogleCheckout do their fund disbursement to US bank accounts. In reality, this prepaid card account data (unique to you) looks like a regular US bank account, with the exception that you cannot issue checks and receive incoming WIRE transfers (there is a difference between Wire Transfer and ACH electronic funds transfer). Once you have the account info, you can link the bank account info (ACH info) given to you by the prepaid card provider to your PayPal account. Now you can transfer funds out from your PayPal account into a prepaid card. Your account will be VERIFIED because you will have a US bank account linked to it. These accounts are usually issued by Metabank or Bancorp.

To get your prepaid card, use your Miami mailing address from one of the mail forwarders.
 
cobraboy

cobraboy

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mido said:
Where is the ATM loaded with US$$$ located? Would be interesting to know how to get US Dollars with a debit card in the DR.
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Withdraw pesos-->exchange-->deposit US$.

Not much of a reason to have $$$ in the DR. Keep the $$$ in PayPal and do the above...if needed.
 
V

vmhatup

Member
Aug 18, 2009
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You can open a merchant account in the US and use any payment gateway (ie. elavon) to accept credit cards. That's what I do.

The only drawbacks are that you will only be able to process transactions in US currency and that Address Verification System (AVS) is not available.
 
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rubio_higuey

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Feb 7, 2007
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vmhatup said:
You can open a merchant account in the US and use any payment gateway (ie. elavon) to accept credit cards. That's what I do.

The only drawbacks are that you will only be able to process transactions in US currency and that Address Verification System (AVS) is not available.
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To open Merchant account in the USA you would need a US Corporation, a US business bank account and US Social Security Number plus a US credit history. The OP does not have either.
 
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