Open a Merchant Account in Czech Republic
Open a Merchant Account in Czech RepublicUpdated on Friday 23rd June 2017
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A merchant account in Czech Republic is necessary for most of the businesses operating in this country, as it provides a means through which the companies can increase the value of their daily transactions. A Czech merchant account allows debit and credit card transactions and it also offers a tool for preventing the usage of conterfeit money. Our team of lawyers in Czech Republic can provide legal assistance on the main requirements when setting up a merchant account in this country.
Types of merchant accounts in Czech Republic
Depending on the business activities of the company operating in Czech Republic, the businessmen may set up different types of merchant accounts, such as:
• e-commerce merchant account;
• high-risk merchant account;
• MOTO merchant account.
These types of merchant accounts impose different types of fees. For example, the fees applicable to the transactions carried out through a high-risk merchant account are higher than in the case of e-commerce transactions, which can refer to a wide range of businesses operating in the online environment. At the same time, high-risk merchant accounts may be set up by companies in Czech Republic which have encountered various financial difficulties, such as bankruptcies. Our team of Czech lawyers can provide further details on other types of situations suitable for a high-risk merchant account.
The MOTO merchant account is of interest for the businessmen who carry their operations in Czech Republic through mail or phone orders.
The European merchant account in Czech Republic
Companies in Czech Republic should open a European merchant account. This type of account is available for all types of companies operating in the European Union (EU) and European Economic Area (EEA).
The account will enable the Czech company to accept transactions performed on the territory of the country, but it will also accept international payments.
In order to set up a merchant account, the businessman is required to choose one of the service providers available in Czech Republic and a local commercial bank.
Businessmen are invited to contact our law firm in Czech Republic for more details on the legal aspects that should be met in this case.