Comments on: chargeback on my merchant account? http://smallbusinessmerchantaccounts.org/chargeback-on-my-merchant-account.htm Mon, 13 Feb 2012 22:48:04 +0000 http://wordpress.org/?v=2.7.1 hourly 1 By: stymiee http://smallbusinessmerchantaccounts.org/chargeback-on-my-merchant-account.htm/comment-page-1#comment-1083 stymiee Tue, 15 Sep 2009 18:34:13 +0000 http://smallbusinessmerchantaccounts.org/chargeback-on-my-merchant-account.htm#comment-1083 Unfortunately nothing good. :( Here's what is likely to happen: 1) Your merchant account will be terminated. 2) All funds currently being processed will be held. 3) You will be added to the Terminated Merchant File (TMF) which means you and your business will NEVER be able to get a true merchant account again. This means you'll be stuck with services like Paypal or worse. 4) You will probably end up in collections and may take a hit to your personal credit. If at all possible you may want to see if they'll set up a structured payment plan where they take and keep your processing until you pay off the chargeback. Good luck. Unfortunately nothing good. :( Here’s what is likely to happen:

1) Your merchant account will be terminated.

2) All funds currently being processed will be held.

3) You will be added to the Terminated Merchant File (TMF) which means you and your business will NEVER be able to get a true merchant account again. This means you’ll be stuck with services like Paypal or worse.

4) You will probably end up in collections and may take a hit to your personal credit.

If at all possible you may want to see if they’ll set up a structured payment plan where they take and keep your processing until you pay off the chargeback.

Good luck.

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