Grentone Meta Solutions provide the service of applying for bank accounts to clients who are working with us on our services. We have proven success in helping forex brokers to open corporate bank accounts whether being regulated or an offshore forex company. This is an exclusive service that helps customers consider various aspects before selecting the right banking institution being suitable for meeting their company’s needs. Whether it is a start-up or a forex broker in its growth stage, we can offer this assistance.
After setting up a company where you legitimately can offer forex brokerage, applying for a bank account that has the ability to conduct online transactions and transfers is your next step. By having a corporate bank account, you can receive payments from payment gateways where your clients can deposit funds via credit cards (such as Visa/Mastercard/Diners/JCB), UnionPay, or other related payments like cryptocurrencies. Through our solution, we can help you apply and attain both services so you may start receiving funds via Telegraphic Transfers on your bank account, and other payment gateways via a Payment Service Provider.
We work with banks in EU, Asia, and other offshore jurisdictions and we could help you attain the most preferred rates, services, and options to operate your bank account so that you can access your cash with ease.
Payment Service Provider
After the forex broker has attained a corporate that could allow the receiving and transmitting of funds, the next thing would be to apply for another account that could help them receive payments through credit cards and other payment gateways. This kind of ‘merchant account’ allows the broker to accept deposit payments from their clients at the convenience of their websites, accepting through payment gateways such as Visa, Mastercard, AMEX, UnionPay, Diners, JCB or even Bitcoin. The broker will apply for this merchant account via a Payment Service Provider, PSP in short.
The merchant account functions almost similar to the corporate bank account. When clients successfully deposit funds into their forex account, the amount is almost immediately transmitted into this merchant account after deduction from the clients’ credit cards or debit cards, and the company can manage fund movement from this account and accept different form of payment. Credit card, debit card, wires, Bitcoin, and other payment gateways. Some payment providers through their technological advancements are able to credit funds immediately into the trading accounts of clients, so that clients could be able to trade immediately after funds are successfully accepted through their gateways. A corporate bank account, an online merchant account to accept credit or debit card payments, a forex website, are the essential tools to run a successful forex broker, cryptocurrency exchange, or any web base business.
So how does a PSP work? After your client has gone through the process of opening a trading account, most companies will allocate clients another set of username and password that has an independent access to what we call a client portal. In the client portal and on the general administration panel clients will be able to find a button that asks for Payment. Once this is selected and client clicks on the deposit button, clients will be able to choose from a series of payment methods. Once the client selects his payment method, the payment provider links the client to a page where card payment information will be filled, and after the client submits, the payment service provider will, via their network processor, send data to the card issuing bank to request payment. Once transaction is successful, the money will be credited into your merchant account held with the PSP almost immediately. If you are already utilizing certain service with Grentone, the payment solution is something that we can assist you to set up. Through our network of payment providers, we will be able to help you find a suitable match for your needs. For more information, please contact us.