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Episode 10: Keep Your Merchant Bank Happy: Tips to Avoid Terminations and Holds
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Imagine waking up to find your business unable to process payments, your merchant account frozen, your funds held indefinitely. Unfortunately, this happens more often than you’d think. In today’s episode of The Payment Guy, Frank breaks down the key reasons why merchant accounts get flagged, frozen, or even terminated, and more importantly, how to prevent it from happening to your business.
In this episode, these questions and topics will be covered:
• 01:30 – Why do banks and ISOs have risk teams, and what role do they play in merchant processing?
• 06:11– Common red flags that can get your account frozen: chargebacks, disputes, transaction spikes, and changes in your business model.
• 09:36 – What happens when your funds are held, and how to respond effectively.
• 10:48 – The importance of monitoring chargebacks.
• 11:32 - Why you should always have more than one payment processor to protect your business.
Navigating merchant payments doesn’t have to be a mystery. By understanding how risk teams operate and proactively managing your transactions, you can avoid unnecessary disruptions to your business. If you found this episode helpful, don’t forget to subscribe and share it with a fellow business owner!
Connect with PayDiverse:
Instagram: https://www.instagram.com/paydiverse
Website: http://www.paydiverse.com
LinkedIn: https://www.linkedin.com/in/franksena
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