Merchant bank

Merchant account provides the facility for payment of goods and services. Is a merchant bank a requirement to complete the payment process ? How does a merchant bank differ from the rest?

It is required.. how else would the money come from and go. The bank part of the merchent account is how the money is collected and transfered.

sry dont know about this.

Merchant bank is required in the transaction if it is Visa or MC. To be more specific, the bank has to be a member bank of the Visa or MC system. Often there are payment processors or third party sales organizations involved, but the tx gets cleared thru the member bank . . .

I am guessing that you are asking about a business checking account. You do not necessarily need a business checking account, but you do need a checking account. Personal accounts will work if you are a sole proprietor (owner) of your business.

If you are overseas, you need a bank account to wire your money to.

Either way you look at it, you need a checking account in either your name or your business name to open a merchant account.

[Jeanie]

Thanks For The Tips Helpmerchants!