Acquiring for business. Opening merchant accounts for your business.

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    IST Hungary offers a modern and efficient way to open a merchant account. If you prefer a traditional, personalized approach to account opening, we can also provide this option. Detailed information is available below.

    For any online business—whether it’s an online store, an educational platform, online services, or any other project operating in a digital environment—the ability to accept bank card payments is critical. A merchant account (also known as an acquiring or processing account) is a special bank account that allows your business to securely process and accept card payments from major international and local payment systems, such as Visa, Mastercard, American Express, UnionPay, Alipay, and others.

    Открытие личных счетов в Венгрии

    Timur Igamnazarov
    CEO of the Hungarian consulting company IST Hungary
    igamnazarov.com

    The era of cash payments is gradually becoming a thing of the past. Businesses that don’t offer customers cashless payment options today risk losing significant market share tomorrow. According to current statistics, over 65% of consumers prefer cashless payments. By integrating payment solutions into your website, you’ll not only expand your customer base but also increase brand loyalty.

    How does our solution work?

    01

    You fill out a form, providing the necessary data about your business. Based on this information, we select a bank acquiring solution for you.

    02

    The compliance departments of these organizations receive your information and conduct a thorough analysis of the submitted data and documents.

    03

    If any of the organizations have additional questions, they will contact you to resolve them promptly.

    04

    As soon as at least one payment organization gives preliminary consent, you will immediately receive a notification with the detailed terms for connecting to processing and opening a merchant account.

    05

    You can proceed to open an account immediately or wait for offers from other institutions to choose the most profitable and comfortable terms for yourself.

    Key Advantages of Our Service

    01

    Time Saving

    You no longer need to spend days filling out dozens of forms for different banks and conducting numerous negotiations.

    02

    Priority Consideration

    Applications submitted through us receive priority status in payment organizations, significantly speeding up the decision-making process.

    03

    Cost Saving

    Many financial institutions charge a fee for preliminary application analysis. Through IST Hungary, you get this service on more favorable terms.

    04

    Special Tariffs

    Thanks to long-term partnership agreements with processing companies and a large client flow, we guarantee competitive, and often lower, service rates for our clients.

    05

    Professionalism and Experience

    We help open merchant accounts even for companies that have been previously refused. Having received comments on the reasons for the refusal, our specialists enter into negotiations with payment organizations and make every effort to achieve a positive decision.

    06

    Professionalism and Experience

    IST Hungary, having worked in the consulting services sector for many years, has extensive experience in opening settlement and merchant accounts worldwide.

    Over years of practice, we have accumulated deep industry knowledge, concluded hundreds of partnership agreements with banks and financial institutions. We have opened thousands of accounts for private and corporate clients and have also provided consulting support to the banks themselves.

    Our services are not limited to opening accounts

    Over the years, we have helped thousands of companies and entrepreneurs solve complex tasks such as account unblocking, payment disputes, obtaining loans, leasing and factoring, forming investment portfolios, as well as recovering funds from troubled financial institutions.

    The IST Hungary team consists of highly qualified specialists with extensive international banking experience, who previously held key positions in financial institutions—from managers to department heads.

    Book a Consultation

    Main countries where we help with account opening

    • Hungary
    • United Kingdom
    • Germany
    • Hong Kong
    • Indonesia
    • Ireland
    • Canada
    • Cyprus
    • Latvia
    • Lithuania
    • Malta
    • Netherlands
    • UAE
    • Poland
    • Romania
    • Portugal
    • Singapore
    • Slovakia
    • Slovenia
    • USA
    • Thailand
    • Turkey
    • Philippines
    • Czech Republic
    • Croatia

    Processing Connection for Various Business Types

    +
    Low-Risk

    This category includes projects with a minimal level of complaints and disputed transactions (chargebacks). Typically, these are online consumer goods stores, aggregator services, companies with a well-known international name and impeccable reputation.

    +
    Medium-Risk

    This group includes projects such as online schools, consulting platforms, courses, as well as stores selling goods of questionable quality or purpose, or any other projects that may raise questions from providers.

    +
    High-Risk

    Traditionally, high-risk business models include those related to bookmaking and betting, Forex trading, cryptocurrency operations, adult products, gambling, online casinos, pharmaceuticals, and other regulated spheres.

    Our Key Metrics

    24

    Preliminary application assessment is completed within 24 hours

    14

    The average timeframe for the full cycle of all procedures is 14 days

    60

    Choice of over 60 banks, acquirers, and payment systems

    3

    Transaction fee for High-Risk projects ranges from 3% to 10%

    1,5

    Transaction fee for Low-Risk projects ranges from 1.5% to 2.5%

    Merchant Account: Required Documents and Timeframes

    For Individuals (Individual Entrepreneurs, Self-Employed):

    • Certified copy of passport.
    • Certified document confirming residential address.
    • Up-to-date CV / Resume.
    • Bank statement or bank reference letter.

    For Legal Entities:

    • Certified set of corporate documents (charter, foundation agreement, etc.).
    • Certified extract from the trade or state register.
    • Company organizational chart.
    • Good Standing Certificate and/or
    • Statements from previous settlement accounts (if available).
    • Share certificate (if available).
    • A concise but substantial business plan.
    • Examples of contracts with counterparties and invoices.
    • Statements from previous processing history (if available).

    Please note that this is a general, average list of requirements, which may be expanded depending on the internal policy of a specific provider.

    It is also important to note that all provided documents must be up-to-date (typically issued no earlier than 3 months before application submission). If documents are not in English, a notarized translation into English or the official language of the country where the account is being opened will be required.

    Special requirements apply to your company’s website. It must mandatorily contain: Privacy Policy / Data Processing Policy, SSL certificate, legal and contact details, rules for purchasing goods/services, refund policy, as well as other information depending on the business specifics.

    Merchant Account Opening Procedure

    At the initial stage, it is important to clearly define the purposes for which you need a merchant account. Next, you should analyze the market of processing services and compare the terms and fees of different providers. Having identified suitable organizations for yourself, we recommend contacting our specialists to clarify the details of the procedure. The standard process is as follows:

    01

    Filling out detailed application forms.

    02

    Collecting and providing the initial package of documentation.

    03

    Initial assessment of your case by the processing organization, including checking the website, declared type of activity, business history, company beneficiaries and directors. Many providers charge a fee at this stage.

    04

    If no questions arise from the initial check, the stage of in-depth due diligence begins, during which you may be asked for additional documents, explanations, and narratives.

    05

    After successfully passing due diligence and in the absence of questions from the provider, you proceed to the stage of signing service agreements.

    06

    Next, technical integration with the chosen processing organization begins, making necessary changes to the website and user agreements.

    07

    After integration is completed, you can launch the payment solution in live mode.

    Successfully opening a merchant account does not mean the end of checks. Most processing organizations closely monitor transactional activity during the first few months of operation to finally verify that the declared data corresponds to the actual activity.

    Request a Quote

    How can IST Hungary help?

    • We will deeply immerse ourselves in the specifics of your business, conduct a detailed analysis, and propose solution options that correspond to your goals and criteria.
    • We will conduct a preliminary internal Due Diligence of your case from the “provider’s perspective,” point out weak spots, and help eliminate them before submitting the official application.
    • If necessary, our experts will help you prepare all the necessary legal documents for the website, including the Privacy Policy, GDPR compliance rules, User Agreement, and others.
    • For some projects, in accordance with Visa and Mastercard requirements, an independent Legal Opinion is required. Our lawyers will help you prepare this document.
    • We will obtain preliminary approval from the processing organization before submitting the full document package.
    • Our specialists will help you correctly collect and prepare the entire package of necessary documents.
    • We will provide all information and documentation to the provider in the required form and format.
    • We will handle all communication and negotiations with the provider, accompanying the process until the successful account opening.
    • We provide comprehensive support at all stages of work, should the need arise.
    • We are ready to assist in resolving any other issues related to the banking sector and financial services.
    Contact us

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      1052, Budapest, V. kerület Szervita tér, Hungary

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      • Phone: +36205977777
      • E-mail: business@isthungary.hu
      • Opening hours:
        Mon-Th: 8:30-18:00
        Fri: 8:30-17:00
        Sat: 9:00-14:00

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