Belgian companies that need a solution for accepting online payments from their clients can open a merchant account in Belgium
. This allows customers to pay via a credit or debit card
and can be an important step toward diversifying the client range and for improving the services provided by the company.
Any type of company in Belgium
can provide for this service, whether it is a small company or a large corporation. In some business sectors, this remains preferred payment method.
The set-up process for a merchant account
is simple and it is usually performed with the same bank where the corporate account is opened. One of our Belgian company formation agents
can help you open an account for online payments.
The merchant account used by Belgian companies
Because many customers have become accustomed to and even prefer card and online payments, companies in Belgium choose to open a merchant account in order to offer this payment option to their clients.
The merchant account is a type of bank account in Belgium
that allows for debit and credit card payments. It includes an agreement between the client and the merchant bank that settles the payment transactions. The fees for the service are established by the bank and they can be monthly or per transaction. A merchant discount rate can apply.
Investors who open a company in Belgium
can open a merchant account in order to better provide for the needs of their clients.
Open a bank account in Belgium
Belgian companies can opt for setting up a merchant account as soon as they open the corporate bank account. This is especially useful for online businesses. Investors who set-up online stores or who provide services to international clients need to have this step in mind when they open a company in Belgium.
The bank with which the account is open will typically ask for certain company documents, like the incorporation papers and a financial situation. Smaller companies or those that have had financial issues in the past, including bankruptcy, may be subject to a stricter evaluation from the bank before the account is set up.
Opening a merchant account is just one of the steps investors needs to be concerned with when opening a company. VAT registration in Belgium is performed for all types of legal entities and it is done once the company is registered with the Crossroads Bank for Enterprises. The company number assigned upon registration will thus become that legal entity’s value-added tax number.
for more information on company formation in Belgium and how we can help you open a company here.