July 24, 2009
I had a merchant account. I sold items online. I shipped the orders to my clients?
concerned homeowner asked:
but for some reason the company i have my merchant account with went into my bank account and took back all the money. Unfortunately for me, I don’t have any of my tracking numbers for the orders any more. What can I do? Can I file a dispute for all the “unauthorized” withdrawals my merchant account went into my account and took back from me?
but for some reason the company i have my merchant account with went into my bank account and took back all the money. Unfortunately for me, I don’t have any of my tracking numbers for the orders any more. What can I do? Can I file a dispute for all the “unauthorized” withdrawals my merchant account went into my account and took back from me?
I hope you guys understand what im saying. I’m really frustrated right now.
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Comments on I had a merchant account. I sold items online. I shipped the orders to my clients?
What happened was you got chargebacks for those transactions. In other words your customers disputed the transactions and wanted their oney back. Your merchant account provider can go into your bank account to retrieve the funds necessary to pay those chargebacks as it is part of the merchant account agreement you signed with them.
Regardless, your first course of action should be to contact your merchant account provider and find out more about the chargebacks. You should have been notified about the chargebacks by them and there is a good chance that they may not have the correct contact information for you if you didn’t hear from them. You also need to find out what the reason for the chargebacks are so you can address them and prevent this from happening again. Otherwise you’ll get into even worse trouble then just losing your money. You can end up blacklisted and unable to get a merchant account ever again.