Is Your Business’s Payment Processor Withholding Access to Funds in Your Merchant Account? If So, We Can Help
Businesses rely on having a steady cash flow to fund their operations and meet payroll. So, when payment processors seize businesses’ merchant account funds, this can be a big deal.
But, even if your business doesn’t need all of the funds in its merchant account immediately, you don’t want to have to worry about whether you will eventually be able to access the funds when necessary. Once your business’s merchant account funds have been seized, recovering them isn’t an easy process. It requires time, effort, and a clear understanding of the laws and contract terms that apply, and it requires the ability to argue persuasively without putting your payment processing relationship in jeopardy.
Skilled Legal Representation for Recovery of Seized Merchant Account Funds
At Tamou Law Group, we have decades of experience helping businesses recover seized merchant account funds. Seizures can occur in a variety of different scenarios, each of which requires its own strategic and custom-tailored approach. In some cases, processors will withhold funds as a “reserve” in order to cover chargebacks and refunds. In others, they will block access to funds from specific payees or suspicious transactions. In others still, it won’t be clear why processors are seizing merchants’ funds, and the process of recovery will start with investigating the reason behind the seizure.
If your payment processor has seized funds in your merchant account, we can help. We can determine the reason for the seizure, and we can determine what steps your business needs to take in order to recover its funds. We can also review the relevant provisions of your payment processing contract, and we can represent your business throughout the process of pursuing a successful recovery.
FAQs: Recovering Seized Merchant Account Funds
Is My Business’s Payment Processor Allowed to Seize Funds in Our Merchant Account?
Maybe. Payment processors typically reserve broad rights to withhold or seize funds in their merchant account contract. But, payment processors also overreach, and in many cases seizures are either wrongful or unnecessary.
What Can I Do if My Business’s Payment Processor Has Wrongfully Seized Funds in Our Merchant Account?
If your business’s payment processor has wrongfully seized funds in your business’s merchant account, you should engage counsel promptly. At Tamou Law Group, we can get to work assessing the circumstances at hand and recovering your business’s seized funds immediately.
How Can I Avoid Having My Business’s Merchant Account Funds Seized in the Future?
In many cases, businesses can prevent future seizures by working with their payment processors. We have had significant success working with payment processors on behalf of our clients to help them establish good relationships and avoid unnecessary withholdings.
Do Businesses Need to Engage Outside Counsel to Recover Seized Merchant Account Funds?
Given the challenges and risks involved with seeking to recover seized merchant account funds, we strongly recommend that businesses engage outside counsel. Our lawyers handle the recovery process on behalf of merchants nationwide.
Speak with a Lawyer at Tamou Law Group in Confidence
If your business needs help recovering seized merchant account funds, we encourage you to contact us promptly for more information. Please call 602-618-1385 or contact us online to arrange a confidential consultation.