Home – New Forums Selling online USD Capability for growing business

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  • #986223
    ProShooter
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    #1156883
    eWAY
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    ProShooter, post: 180801 wrote:
    In short, I need the ability to charge overseas (mostly USA) customers credit cards in USD and store those funds somewhere in USD (it doesn’t really matter where as long as there is no conversion to AUD along the way).

    For example: Customer X in the USA wants to pay their $1000 USD deposit to me via CC. (At present I share an AUD merchant facility with another business which is messy as we have to convert it to AUD.)

    Hi there ProShooter,

    Firstly, your point regarding sharing a merchant facility is a bit alarming, this is against the terms and conditions for merchant service accounts and if the bank finds out they’ll close the account and you’l likely end up with a nasty black mark against your business that will make future merchant banking difficult.

    On a happier note, NAB can definitely do this for you (they’re the only Australian bank that can do it) but it can be expensive. They’ll assess your chargeback risk and may require you to keep a certain level of collateral available in the account.

    Feel free to call us to chat about your options – 1800106565 – or I’m happy to answer here on the forum as well. We’ll be able to put you in touch with the right people at NAB to chat to. Unfortunately when you just visit or call them you tend to get a frontline staff member who knows little about actual merchant banking.

    Maclean

    #1156885
    markn
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    Another option is to use a third party payment processor in the USA (like FastSpring http://www.fastspring.com/) who will handle all the payments for you and once or twice a month transfer your USD balance into an Australian USD bank account (such as one from HSBC). This is potentially a lot more costly than a straight up merchant account though.

    #1156886
    David
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    Have you considered PayPal … we use them for US $ transactions and it simply stays as US$ in our PayPal account until we spend it or withdraw to AU bank account.

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