Merchant Accounts in Panama

Onlypanama.com offers an introduction to a merchant account with the objective of helping you take advantage of our asset protection plan. Please keep in mind that we cannot guarantee the approval of your bank application.

The bank will not accept application of businesses conducting any of the following activities:

  • Adult Entertainment (Gambling, Horoscope, Psychic, Sexually Oriented)
  • Age Verification
  • Airline Ticket Sales
  • Alcoholic Beverages
  • Animal Sales And Breeding
  • Antiques Or Collector Items
  • Any Product / Services Considered Illegal
  • Auctions
  • Charities Through Outbound Telemarketing
  • Check Cashing Services Collection Agencies
  • Child Pornography
  • Credit Card Protection
  • Credit Repair Agencies
  • Drug Paraphernalia
  • E-Cash Merchants
  • Exporters Of Any Type
  • Future Deliver Beyond Three Months
  • Gaming, Lottery Or Raffles
  • Gift Certificates
  • Golf Clubs / Accessories
  • Home Bases Gun Dealers
  • Investments By Internet
  • Life Time Guaranteed Products
  • Multilevel Or Pyramid Marketing
  • Non FDA Approved Drugs Or Medicines
  • Outbound Telemarketing
  • Pawn Shops
  • Programs On How To Apply For Low Interest Credit Cards
  • Replicas
  • Third Parties Billing Processing . Aggregators
  • Tickets (Travel, & Others)
  • Timeshares Programs
  • Tobacco
  • Travel Clubs, Reservation Center
  • Vitamins
  • Products Originally Form Cuba, Libya, Syria, Iraq, Iran, Nigeria, Afghanistan, North Korea, Eastern European And Or Any OFAC Restricted Countries.

Your business should generate a minimum of $20,000 a month and 6 months of credit card processing statements are required. 

Please keep in mind that the bank pays every two weeks and there is a hold back of two more weeks.  This means you won’t have access to your merchant account’s profits for about one month.  This is important to know if you are counting on your payment to provide your customers with the service they paid for, otherwise they will request chargebacks.  Another thing is that the merchant account agreement is asking for a chargeback percentage of only 1% of the total sales every month, so if your chargeback level is higher this account is not for you.  When you open your merchant account you also open a risk account that will hold 10% of the daily total sales for six months. At the beginning of the 7th month the 1st. month is released back to your merchant account.

If your business is brand new and you don’t have merchant account statements for the last 6 months we will introduce you to a third party merchant account provider that will be able to help you.

Contact Us to get started!
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