June 21, 2009
merchant account issue?
Chiquita asked:
For unknown reasons our business merchant has put a block on our account so no money is being transferred into our checking account (since the 28th). No one will talk to us regarding what is going on. They’re telling us have your lawyer call we’re not allowed to talk to you.
Is it legal that without knowing what is going on to shut down this merchant and find a new company to run our business? We have checks going out of the account and we need the money. Also any idea why a merchant company would put a hold on the funds and not willing to talk unless its through a lawyer?? thank you
For unknown reasons our business merchant has put a block on our account so no money is being transferred into our checking account (since the 28th). No one will talk to us regarding what is going on. They’re telling us have your lawyer call we’re not allowed to talk to you.
Is it legal that without knowing what is going on to shut down this merchant and find a new company to run our business? We have checks going out of the account and we need the money. Also any idea why a merchant company would put a hold on the funds and not willing to talk unless its through a lawyer?? thank you
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Comments on merchant account issue?
Well I can’t quite figure out what’s going on by the small amount of info you gave, but if there is money going out of the account you’d better do something fast before it gets out of hand and into something really big. I don’t know how much money you are talking about but it might be your best bet to contact a lawyer and discuss this. Lawyers usually give one consult secession free.
There is one thing that could have occurred for them to react this way. There is an offense called SKIMMING. This is when one of the owners of the business processes his personal credit card through his merchant account. Some owners will do this to get a cash advance with out having to pay the fees from their credit card company that are usually associated with a merchant account.
When this happens, you are put on a blacklist, and can never have a merchant account again.