[Subscribe to Daily Digest] |
[Main General Bulletin Board | BBFAQ |
Next by Date | Post Followup ]
Member Login / Signup - Members see fewer ads. - Latest Member Gallery Photos
Merchant Accounts Posted by Bill Homer [Email] (#3427) [Profile/Gallery] (more from Bill Homer) on Mon, 7 Mar 2005 10:55:34 In Reply to: Re: Not very sweet from seller side either (+), Rafe, Mon, 7 Mar 2005 08:51:32 Members do not see ads below this line. - Help Keep This Site Online - Signup |
Merchant accounts are tied in with your business bank account and come with very little control - if a credit card company has a disputed charge, they can immediately debit your account.
And it gets worse: Because I have a home-based wholesale business (and had a mistaken dispute, immediately resolved, although Amex claims that it was irrelevant in their decision), Amex has placed me on their "credit watch" list. This allows them to immediately deduct money from your account WITHOUT ANY NOTIFICATION on a disputed charge - allegedly to guard against the high level of fraud in this type of business. When I asked how I was supposed to find out about disputes, they told me that I should be able to pick it up from my monthly bank statement. Yeah right, up to 45 days later, more work. Needless to say, we now tell customers that we accept Visa/MC and will only accept Amex if faced with losing the sale.
posted by 129.188.33...
No Site Registration is Required to Post - Site Membership is optional (Member Features List), but helps to keep the site online
for all Saabers. If the site helps you, please consider helping the site by becoming a member.