900  EUR: All included!
800 EUR: All included!
950 EUR: All included!

990 EUR: All included!
1750 EUR: All included!
1950 EUR: All included!

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Merchant accounts

The merchant account

It’s impossible now to imagine successful eCommerce without making payment with banking and payment cards, which are the most common form of payment for most consumers of your services or goods. The visitor is more likely to turn into your client if he can pay for goods and services directly at your website 24 hours a day.

To accept online payments you need the merchant account, it's a special type of bank account tied to the gateway of the processing company, coordinating the calculations for payment cards between the card holder, bank card issuer, merchant and merchant serving of the acquiring bank.

Do you want to accept any payment cards directly at your website?

The specialists of the company FinAdvice will help to open merchant account for your online store in any of these banks:

Bank Country Cost
Latvia 800 EUR
Latvijas Pasta Bank Latvia 800 EUR
Latvia 800 EUR

Note: When you purchase an offshore company here with us you'll get a discount on our service – the opening of an offshore account in any of the banks. (you can know a discount from our experts). 

The opening of a merchant account

The terms for opening a merchant account vary depending on the type of the company (offshore). Sometimes it happens that the banks do not open accounts for companies from certain jurisdictions or for people of a particular nationality, so you might need to buy an offshore company or onshore company - if the opening of a merchant account is essentially in a particular bank.

The necessary documents

  • The certificate of the establishment of the company, the founding documents
  • Copies of licenses (if they are required to engage in certain activities)
  • Copies of passports of directors and owners of the company
  • The list of company’s websites and confirmation of the rights to the data of the websites
  • Copies of the receipt of payment of the rent from the director and owner of the company (proof of address)
  • A copy of bank balance of the last 3 months

The Bank has the right to request additional documents.

There are following requirements to the information posted on the website:

  • a precise description of the general terms and conditions of company’s services
  • a clear description of the refund the payments for goods / services
  • a telephone number and / or e-mail of a customer service department
  • a description of the options and timing of delivery / terms of service
  • an indication of the registered name of the company and its legal address

The expenses for opening and servicing a merchant account

The cost of services FinAdvice is pointed depending on the bank. We offer a discount for opening a merchant account when you buy a company here with us.

The value of commissions for the service of the account is set by the bank individually depending on the features of your business, turnover on the accounts, etc. Usually, the cost of servicing of a merchant account with a turnover of 10.4% (transaction fees), various fees (for the monthly report, for the refund, etc.). It may also be required to provide a reserve amount.

Bank acquirers risk more when servicing merchant account than servicing a usual offshore accounts, it requires more services, providing for operations and reputational risks of the bank itself. Therefore, the opening of a merchant account is a responsible and complex issue, but the opening of a merchant account is worth it.