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A merchant account allows a small business proprietor in Estonia to accept credit cards, in this way being able to expand his or her business opportunity by accepting more clients.
No matter if the business operates from a physical location or online, the business proprietor is able to take advantage of the merchant account in Estonia.
Opening a merchant account in Estonia is quite a simple process which requires only a small amount of time, planning and due diligence. Our Estonian company formation consultants can guide you through this process, as well as through the process of company registration in Estonia.
Besides the attractive tax system, the banking system in Estonia also makes it interesting for foreign investors. Our company formation advisors in Estonia can provide further details on this matter.
The banking sector in this country is dominated by the famous Scandinavian banks as well as LHV, a local bank which gained a strong reputation for early adoption of modern financial technology.
Most banks in Estonia provide multi-currency accounts, online-enabled debit cards as well as merchant accounts.
The fees for business bank accounts in this country are quite low, with most banks charging only EUR 5 or less monthly, which includes free SEPA transfers.
When intending to open a merchant account in Estonia, our company registration specialists in Estonia advise you to take the following actions:
• Do your due diligence on the merchant account options available in the banks around your area;
• Apply for the merchant account in Estonia, providing all the necessary information and documents;
• Provide the bank a list with the kind of business activities your company effectuates;
• Offer a proof of website to the bank, in case you have an online business;
• Acquit the application fee and the other necessary upfront charges for opening the merchant account in Estonia.
If you would like to know more about how to open a merchant account in Estonia, we kindly invite you to contact our friendly Estonian company formation representatives.