- Suspicious Merchant Activity
The majority of canceled merchant accounts are caused by excessive chargeback levels (over 2%).
- Ask why the termination happened.
- See if the merchant was MATCHed.
The MATCH List (Member Alert to Control High-Risk Merchants) is a database with information about businesses and owners whose merchant account has been canceled. The networks require banks to report all terminated merchant accounts to the MATCH List. Ensure the business has, in fact, been MATCHed. The application process for a new merchant account is different for businesses that have not been placed on the MATCH List.
- Save statements.
- Start looking for a new acquirer.
Placement on the MATCH List following a canceled merchant agreement isn’t ideal, but it isn’t an impossible situation to overcome. It is possible to secure a new merchant account.
- Be honest and forthcoming.
- Stay professional.
- Be compliant.
- Get professional help.
A terminated merchant account is evidence of insufficient chargeback management techniques. Chargebacks911 offers a guaranteed ROI.