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FAQ Page 2018-03-19T12:04:49+00:00
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What are the types of e-banking services 2018-03-19T12:04:12+00:00

There are several prominent forms of e-banking services.

  • Internet banking – can be accessed via your personal computer, laptop or tablet.
  • ATM banking – a computerized telecommunication system, allowing customers access to their bank accounts in order to perform a few central banking tasks, such as depositing cheques and cash withdrawal, without the mediation of a teller.
  • Tele-banking: through a telebanking number, and a series of instructions given by a user-friendly online menu or an Interactive Voice Response system, customers are granted access to their account.
  • Smart card: through its embedded integrated circuits, also known as a microprocessor, the Smart Card can be used in international financial transactions – one such example being the Reloadable Transport card.
  • Debit card: while it functions similarly to physical money, when using the debit card method, no actual money changes hands when a purchase is made.
  • E-cheques: a method which parallels the traditional paper cheques.
How to Open a Virtual Bank Account with IBAN in Europe 2018-02-28T11:31:58+00:00

Virtual corporate accounts are like “subaccounts” that route funds to and from a linked “master” current account (your regular physical bank account).  A virtual bank account allows you to do all your transactions online so that you can do your business from anywhere in the world at anytime. For this reason (and others) virtual bank accounts are extremely useful to companies and much more cost efficient. A virtual bank account with IBAN can improve your business and streamline your business banking.

How do you open a business checking account? 2018-02-22T11:01:56+00:00

You will need to open a new business bank account in order to make and receive payments as well as making your business legitimate. In fact opening a business bank account should be the first thing you do after your company is officially registered and established. The best business checking account for startups should allow you to pay suppliers, employees and affiliates; receive payments from clients; keep track of expenses; convey finances to investors; plan your budget and manage employee salaries.

What payment options the best startup bank account allows? 2018-02-22T08:34:39+00:00

The best startup bank account allows options for payments in and out. Your account must facilitate the kind of transfers you will be making. You should have several options for incoming and outgoing payments for example transfers in multiple currencies. Check your account payment options before opening the account.

What is an Authorized Payment Institute? 2018-02-22T07:51:19+00:00

The Payment Services Directive (PDS) defines “a payment institution” as a legal entity that is authorized to provide payment services in Europe. The Payment Services Directive (PSD) was implemented in the EU in 2009 establishing regulations by which all payment services providers must abide. The PSD was transposed by S.I.N.383 of2009 European Communities (Payment Services) Regulations 2009 and came into effect in Ireland on 1st November 2009. The Central Bank of Ireland is the authority in charge of implementing the Directive. As such all payment institutions must be authorized by the Central Bank to provide payment services in the EU. All those providing payment services in the EU are subject to the provisions of the PSD regulations.

What Documents do you Need to Open a Business Bank Account? 2018-02-11T13:29:28+00:00

Having the right documents in place when opening a business bank account will make the process run smoothly. It will not only make your life easier it will also make a good impression on the bank and they will treat you as a serious and reliable client. Banks are required to do due diligence in verifying the name and nature of any business before opening a corporate bank account.

What are the best rates for transferring money abroad? 2018-02-04T13:34:54+00:00

Many visitors and customers ask us this question. please follow this link for an answer.

Are international money transfer apps the same as desktop versions? 2018-01-15T11:37:03+00:00

When choosing a money transfer app to send and receive money internationally you should consider:

  1. What is the focus of the app? Is the app intended for private use or for corporate use? Does it function as an additional bank account? Apps which are geared towards private or business use differ in the services they provide.
  2. What services does the app provide? What are their working hours? What languages can be used on the app? Does the app have a personal account manager function? Is the app recognized internationally? What fees does the app charge? What is the overall cost?

For more information about the best international money transfer apps go here.

What is Cryptocurrency White Label Exchange?  2017-12-13T06:46:51+00:00

Cryptocurrencies like Bitcoin, Litecoin, Ethereum and Zcash are traded on multiple exchanges.

Setting up your own cryptocurrency exchange can be highly profitable yet creating a custom-built exchange platform can be costly and time consuming. White label platforms are available to set up your own cryptocurrency exchange without the unnecessary expense and time consuming issues which could slow down your time to market. By using a white label solution you can take advantage of tried and tested software, business solutions, resources and tools. Please note that the Cryptocurrency market is yet without solid world-wide regulation, but this situation is changing and more and more cryptocurrency regulation is being adopted.

In this way you can integrate your unique branding with a customized user-interface but without investing in infrastructure and technological development. Using a white label cryptocurrency exchange solution you can have immediate market launch. With a white label exchange solution you can focus on building your brand; promoting  services and user retention while the white label solution provides a proven technical framework

Online Gaming License Background Check 2017-09-07T07:21:05+00:00

The background check process initiated when you apply for an online gaming license includes submitting personal documents; authorizing the release of your personal information by third parties; authorizing tax authorities to share your tax returns; release of court records and financial institutions to share your credit history. Investigators will verify that the information included in your application is true, including the information given about your education and employment history. click here for more information regarding Online Gaming License Background Check

What are Recommended KYC Methods? 2017-09-07T07:21:05+00:00

Recommended KYC Methods  include:

  • Gathering and analyzing basic personal information (CIP or Customer Identification Program)
  • Verifying names against a list of familiar parties (for example PEP or Politically Exposed Person).
  • Assess the customer’s risk in terms of their likelihood to engage in identity theft; commit money laundering or terrorist financing.
  • Determine the customer’s expected transaction behavior.
  • Monitor the customer’s transactions and compare to their expected behavior and known profile as well as the customer’s peers
What is the Curacao Gambling Commission? 2017-02-14T11:36:02+00:00

The country of Curacao is a Dutch Caribbean island. In 1996 Curacao started issuing offshore gambling licenses from the Curacao Gambling Commission. It is recognized as one of the most popular jurisdictions for offshore gambling licensing services. Curacao offers one license type which covers all games of chance and skill as well as sports betting bookmakers.

In order to be licensed in Curacao gambling enterprises must register with the Chamber of Commerce of Netherlands Antilles as either an offshore or onshore entity.

Before licenses are issued in Curacao the gambling enterprise must deposit approximately US$40,000 in a Curacao bank, payable to the Curacao Department of Justice for the purpose of investigating the licensing application – this is for master license only. For sub-license there is no sum.

Once your gambling license application has been approved in Curacao you are required to pay a monthly fee of a few thousand US dollars for the maintenance.

How do you get an offshore gaming license? 2017-09-07T07:21:05+00:00

Securing an online casino license/ offshore gaming license is one of the mostCasino online concept, gambling. Laptop slot machine with dice, cards and packs of dollar. 3d

 

critical steps necessary if you want to start an online gaming enterprise. A gaming license gives your website credibility; it avoids complications with international laws and allows you to legitimately operate your business from a financial and banking point of view.

The licensing process requires extensive resources, time, money and knowledge of gaming laws so it is extremely advisable to consult with a professional expert in gaming regulations. This will save you time, money and a lot of frustration. It is virtually impossible to simultaneously run a business and go through the complex process of gaining a license. You require the services of a professional who has connections and knowledge of the gaming licensing laws in offshore jurisdictions.

What is an Aggregate High Risk Merchant Account? 2017-02-12T10:02:01+00:00

By grouping together a number of businesses of various levels of risk the collective risk of the account, refund level and chargeback level is balanced out. The low risk businesses in the group balance out to offset higher risk businesses within the aggregate account. Banks view aggregate accounts as lower risk than accounts belonging to high risk businesses alone. This way you keep the bank happy and you have the credit and bank services that you require for your high risk business. Aggregate High Risk Merchant Account can only be set up by processors and under no circumstances can you share your regular merchant account with other businesses to gain the same result. If you attempted to share your merchant account and the bank discovered this your account would be permanently and immediately terminated.
GBO assistance with finding merchant services can help you obtain credit card processing services for your high risk business using the many solutions available to them.

What is a Corporate Account? 2017-09-07T07:21:07+00:00

Corporate bank accounts are provided with services which respond to the needs of businesses. For this reason the regulations and procedure for opening a corporate account are different to that of a personal or investment account. Primarily corporate accounts are opened to meet the needs of a business.

What are the fees involved in applying for a gaming licence offshore? 2016-12-21T08:16:18+00:00

An offshore online gambling license is essentially a license issued by an offshore jurisdiction, meaning one outside of the country of origin of the company’s owners. Offshore gambling licenses can be issued by jurisdictions around the world, although some countries do oppose the operation of online gambling business within their borders and the sale of services to its residents.

Some of today’s biggest online casino brands and betting industry giants hold offshore online gambling licenses, many of them in multiple jurisdictions.

What is the best location in which to open an offshore e-commerce Merchant Account? 2017-09-07T07:21:07+00:00

E-commerce businesses have certain requirements that traditional enterprises do not have, therefore it is important to open an account in a jurisdiction that has a certain level of infrastructure available. Some of the things a jurisdiction should have in order to qualify as a suitable location for an offshore ecommerce merchant account are:

  • Robust infrastructure
  • Stable government (politically and economically)
  • Reliable internet connections
  • Banking and financial institutions with knowledge about e-commerce businesses
  • Access to qualified human capital
How do I open an overseas bank account? 2016-10-27T11:50:25+00:00
There are two basic options:
1.    Search online for the keywords “ offshore bank” and approach the bank directly. In most cases, your request to open an offshore business bank account will be denied.
2.    Contact a professional company like GBO and let us guide you through the process smoothly. Banks prefer to work with professional intermediates since we are already familiar with the process of opening an offshore bank account and in essence make their internal processes easier. Find more information here.
How to get an offshore merchant account? 2017-09-07T07:21:07+00:00
 Offshore merchant account is for business that wish to accept online payments from their customers. Our focus is mainly offshore high-risk merchant accounts for online business – eCommerce, gaming, Forex, marketing, etc.
Basically, acquiring banks request, as a basic condition, processing history of the last 3-6 months so if you are a new online business and don’t have any processing history, it can be quite difficult to open a direct merchant account so usually new online companies start with an aggregate merchant account and if their overall performance after a while is OK (low chargebacks, high volume, no refund issues), then it is possible to approach the bank and ask for a direct (MID) merchant account.We can assist to new companies (with no previous processing history) and to existing companies that are looking for additional processing options, read more here and contact us
What kind of gaming licensing there is in Curacao? 2016-10-19T08:10:57+00:00

 

There are 2 types of licenses in Curacau, a Master License and a Sub-License. With both licenses you can operate an internet gaming business (Poker, casino games, bingo, sport betting, scratch, online lottery, etc). The difference between the master license and the sub-license is that the master license can issue sub-licenses while the sub-license can not issue sub-licenses

In order to obtain the sub-license we first need to incorporate a company to which the sub-license would be issued to. The company does not need to be incorporated in Curacao but can be incorporated in any jurisdiction – onshore and offshore.

Once the company is incorporated we can submit the application for the sub-license. The sub-license is renewable annually with the associated fee. The whole procedure for the company and the sub-license takes around 2-4 weeks.

Read more information on costs & fees, time frame, required documents and additional regulation for a Curacao gaming license

 

How long does it take to open an offshore High Risk Merchant Account and begin processing payments? 2016-09-29T12:06:48+00:00
The time it takes to open a merchant account may vary depending on how long it takes you to deliver the required paperwork and supporting documentation to the merchant account service provider. Once you submit all the documentation and a full application, the process of opening a merchant account can take anywhere from 2 to 3 weeks. If you need to begin processing payments immediately, you may consider opening an aggregate merchant account, which is an account shared by several merchants, held in the name of the provider. An aggregate merchant account comes with certain inherent risks, but it can be up and running within minutes from the time you complete the application, so it may be a good way to start.
 
What are the types of online High-Risk Businesses Accepted? 2016-09-21T07:44:31+00:00
Merchant account service providers often categorize entire industries as “high-risk”. Our network of merchant account service providers offer service to a wide array of high-risk businesses and industries. If you are not certain whether your business falls under the category of “high risk”, take a look at the list below which contains some commonly listed industries:
 
  • Travel
  • eCommerce
  • Gambling
  • Adult
  • Software / IT
  • Support centers
  • Call centers
  • Retail
  • Financial Services
  • Tobacco / Smoking
  • Tickets
How to choose between online casino software companies 2017-09-07T07:21:07+00:00
Starting an online gaming company is not an easy task. The gaming industry has grown dramatically in the past few years, making it increasingly competitive with the consequence that players are always looking for the next “best thing”. Please read more about the best online casino software companies here.
What is the procedure for obtaining a Curacao Gaming License? 2017-09-07T07:21:07+00:00
Prior to applying for a Curacao Gaming License, the operator is required to submit all documents of due diligence that indicate the status of the shareholders who will be directing the company that is to be formed in Curacao. Once the company is consolidated an application is submitted for a Curacao license with all the necessary accompanying documents and related agreements. This tends to take around two to four weeks, from the time all documents have been submitted to the actual license being issued.
 
At that point, once they have achieved the status of a legally formed entity, applicants must then immediately register with the Curacao Chamber of Commerce, irrespective of whether they are an onshore or offshore company and additionally they are required to state which of the Island territories that choose to operate from. Upon the completion of this application the Curacao Department of Justice will then conduct an audited investigation. Once the investigation has been completed, for which the DoJ has allocated a six week time period, and there are no objections which have been voiced in the process, the applicant is then entitled to receive a provisional license. Under this license the applicant is free to operate, albeit under a number of stipulated conditions.
How to launch your own brand of online payment gateway 2017-09-07T07:21:07+00:00
If you’ve ever wanted to offer your very own brand of online payment gateway services, we are the partner you are looking for. Why should you launch an online payment gateway under your own brand?

Benefits of selecting a payment service’s white label gateway:

  • Design and offer a fully-branded payment gateway with your own desired look and feel
  • Easy deployment with the use of a platform designed for white labels
  • Provide customers with a cost-effective solution that you can load and customize with value-added services
  • Have full autonomy over your product, marketing, project management and sales
  • Take advantage of your provider’s product innovations, professional training and fully-redundant network
  • Offer your own support, or if you prefer, you can leave the task to us as well

Your clients benefit too
The main benefit in implementing a payment gateway white label solution is that it will not only increase your sales volume, but it will increase the sales volume of your clients as well.
Your clients will be able to:
  • Offer their customers a bigger variety of online payment methods.
  • Reach a wider audience by offering the preferred local payment method in any market, with a payment page available in up to 23 languages.
  • Localize their payment page and customize it to match their desired look and feel, so they can build trust with their client base.
  • Optimize their checkout process with features such as one-click payments and ‘save card details’ for quicker payments.
  • Accept more safe orders, which will in turn limit their exposure to fraud.
How much does it cost to start an online casino? 2017-09-07T07:21:07+00:00

There are several approaches, let’s examine the average and most common way to start an online casino:
While label solution – no need for you to develop the casino software and the licensing yourself (you can save millions of dollars this way).

The main costs are:

  • Set up fee – Initial set up fee that you pay to the white label company, cost starts at around $8,000 for simple solution and can reach up to $100,000.
  • Maintenance fee – Monthly maintenance fee payable to the white label company, depending on the products and services you ordered.
  • Revenue share – the casino software company is your partner, they charge a percentage from your income, the range can be from 5% to 25% – depending on the agreement you sign.
  • Sub licensing – some companies charge for the use of their licence and some don’t, it can cost thousands of dollars.
    (There are some additional minor costs)

As you see, in order to start an online casino you need to invest a significant amount of money and that does not include the marketing costs that can reach tens of thousands each month

What is the best offshore bank account? 2017-09-07T07:21:08+00:00

There is no one standard answer for this question. It is more dependant on your needs, business model, location requirements and other factors. An experienced broker can help you ensure what solution is best for you. At GBO our focus on the client’s business model ensures the most robust long term solution. Our experience with offshore bank accounts and offshore business incorporation means that our clients will receive the best, most up to date  advice for their offshore banking solutions. find more information regaring offshore bank account here

How to set up a forex broker company: 2017-09-07T07:21:08+00:00

There are several steps one needs to take in order to set up an online forex brokerage business that includes the following:

 

White Labels and IBs

If you don’t feel ready yet to buy your own trading platform license, then you have the option to start with an IB or a White Label solution provided by a prime broker (your clearing company).

A prime broker will customize the interface and platforms accordingly with your company image such that you will run your business under your own logo.

What is considered to be a high risk business? 2015-09-08T12:44:28+00:00
  • A start-up business with little or no credit card processing history
  • Poor credit rating, history of bankruptcy.
  • An industry with a high chargeback ratio (such as travel)
  • High average amount per ticket (such as airline tickets)
  • Subscription-based products or services (online dating, magazines)
  • History of merchant account terminated by a bank
  • A business that processes high volume
How to start an online gambling business 2017-09-07T07:21:08+00:00

To start an online casino business you need professional casino software, a gambling license, a company (can be offshore or onshore) a merchant account, and a dedicated server and full marketing operation.

How long does it take to set up and maintain an online casino based on your solutions?  The approximate time of an online casino set up and release it online can be approximately estimated as 1-2 months, in accordance with your specific demands and requirements.

Why online business needs a bank account? 2017-10-01T14:01:09+00:00

It is essential for every business to have a bank account in order to process their finances, whether it is an online company or offline. GBO’s online business banking solutions are tailored especially for online companies operating in a variety of fields, such as:

  • e-Commerce/Services
  • Media
  • SEO and internet services
  • Online casinos and gambling sites
  • Online Lottery messenger
  • Clothing and fashion stores
  • Internet services and more

Read more

What is a Nominee Director? 2017-01-23T09:52:46+00:00

A nominee director service is typically used when the beneficial owner of the company wishes to retain anonymity. The purpose of having a third party who is unrelated in any way to the company owner or the company is that it will be the nominee’s name that is signed on all the public company documents instead of the actual beneficial owner. Typically, the nominee director is not involved in the day-to-day goings on of the company as he really is appointed merely to be a name on the documentation. The beneficial owner of the company is provided with a Power of Attorney that proves that he has the ultimate control over his company.

 

 

What is a High-Risk Merchant Account? 2015-08-04T11:11:45+00:00

There are certain industries which are considered to be high risk among all merchant providers and are generally refused by such providers, unless they are specifically a high-risk merchant provider.

These sectors include: alcohol, Tabaco products, pharma products, nutraceuticals, drug prescriptions and online e-commerce activities like: travel, tourism, tickets, forex, loans, gambling, gaming, dating, adult, insurance, software, media and ads, “How to” services and jewelry. Read More

How to Start an Online Casino White Label 2017-09-07T07:21:08+00:00

Starting a white label online casino requires several factors to be taken into consideration.

The white label casino package includes:

https://www.gbo-intl.com/payments-center/online-casino-merchants-and-payments/

We will guide you through the entire process and assist you from A to Z with all your requirements for setting up your new online casino.

Is it possible to do open bank account remotely? 2017-09-07T07:21:08+00:00

Yes. We specialize in opening bank accounts remotely, meaning that you don’t need to make a personal visit to the bank in order to open your account. We can do the entire procedure by email.

Where is it recommended to open an offshore bank account? 2014-12-08T14:37:07+00:00

There are many options with regards to opening an offshore corporate bank account. One should take several factors into consideration: the location of the bank, the reputation of the bank, whether the bank fits your branding, service and products.

Must I have a license to run an online casino? 2017-09-07T07:21:08+00:00

No – even if your company is non-regulated you can still use platforms that already have licenses and payment solutions – white label. This is the simplest and fastest way to run an online casino. The White Label online casino allows you to operate almost instantly.

Where are most online casinos regulated? 2014-12-08T14:33:55+00:00

Many casinos are regulated in either the Isle of Man, Belize, Cyprus or the Netherlands

Is it legal to start a gambling website? 2016-02-18T11:06:33+00:00

Yes, however each country differs with regards to its laws in gambling and one should take those into consideration.

You can use a casino white label solution that includes regulation and license so you don’t need to take care of it. Please see some our business partners that offer white label casino solutions

Can I register with PayPal? 2015-08-06T11:17:02+00:00

Yes, PayPal accepts several banks that we work with – contact us for more information.

Anyway, Paypal has it’s own regulations and terms and condition so you must verify your needs directly with Paypal

Can I manage my account via the internet? 2014-12-08T14:30:41+00:00

Yes, most banks offer full internet access where you can execute a range of actions, including transfers, outgoing payments, receive payments, buy securities, issue debit cards etc.

Can I get a credit card from the bank? 2014-12-08T14:23:38+00:00

No, as most banks issue a debit card and credit card. You can use the debit card for online shopping, payments accounts and more.

Which jurisdiction should I choose to register my affiliate company? 2017-09-07T07:21:08+00:00

There are several factors to take into consideration when choosing a jurisdiction for your new affiliate business: what the expected business activity of the company is; whether or not a license is required; company formation fees; which location or bank you will need to incorporate a bank account (note that some bank will refuse to open corporate bank accounts for companies that have been incorporated in offshore jurisdictions).

Where can I open a corporate bank account for my Internet company 2018-02-08T13:56:17+00:00

There are many banking options worldwide when it comes to your online business. You should take the following into consideration before deciding on a particular bank: the location of your potential clients, bank fees, expertise of the bank, whether credit/debit cards are available and the reputation of the bank. We can assist you in deciding which e commerce bank would best suit your business needs. Also, in today’s’ atmosphere, it is not easy to find a bank that willing to open corporate bank accounts for overseas companies – not domestic companies but companies and more important, shareholders that are outside the country. if you hold an offshore company then your chance in finding a bank that will open for your offshore company a bank account is very low, if any.

Why would you be considered High Risk? 2014-12-08T14:18:19+00:00

There are several reasons for which a provider might consider your business to be high risk. The various factors include the industry in which you are involved. The industry may have a tarnished reputation for high chargebacks or fraud. Another factor could be you have a history of bad credit. But in most cases the high risk companies are those that deal with Forex and Binary Options, Adult entertainment, online tobacco or cigarette sales, online gambling, pharmaceutical, ticket sales, travel and others.