Hi, I had Merchant account "Leaders Merchant Services" got closed because I sold an item (gift card) they said it's not allowed, my sales representative did not mention it when I applied or when got approved, even though no chargeback is filed at all. Good thing I've been told I won't be in TMF list. They said my funds will be on hold for 90 days for review. And I cannot make refunds, bad thing one of my customer wants to cancel his order, and I cannot do that. Will I get my funds after 90 days passed? What will happen if I click "Refund" in Authorize.NET? Any decision for good Merchant Services for high risk items?
I don't know anyone that allows gift cards through a merchant account. If you think about it, it creates a liability gap where the purchaser can make a chargeback on their credit card, but they also have converted their credit into cash. Not a good situation. You should get your refund after 90 days. Call and ask them what you should do with regard to the refund. They may allow you to refund it from that balance, or they may require you to refund it separately.
stripe.com ! stripe.com ! stripe.com ! this is not a promotion after learning about them and implementing them on my sites, I forgot the need about ever having to get a merchant account. Like, really, the best thing on the Internet, since Paypal.
Hey Penicillin, I work with Platinum Relations, which is an established Merchant Account provider that specializes in High Risk processing and has the ability to accept any legal business. I believe we can work together with our network of providers to create a solution that will fit your needs. Please shoot me an email at mike@platinumrelations.com if this is something you are interested in pursuing.
Hi Penicillin, Will I get my funds after 90 days passed? Yes less chargebacks and if visa or mastercard don't emit a fine !! What will happen if I click "Refund" in Authorize.NET? Normally the processor allow refund you can try !! Any decision for good Merchant Services for high risk items? If you looking for a new solution contact me, we can work together on a long time and trust solution. You can apply online best-account.com Regards