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What are the common errors people usually make while creating casino merchant accounts?

You might have heard several stories regarding the freezing of the accounts and thus terminating it. Most of these stories portray the processors of the credit card industry as a negative institution with respect stealing money from the small business establishments. Although these stories are interesting they are not correct.

            To protect the Merchants and credit card holders from fraud is in the interest of the Credit Card Processors. Any uncommon activity in the Merchant accounts is the first sign of credit card fraud. The instant the credit card processor detects any unusual activity in the accounts, no questions are asked but the funds are frozen and account closed.

But under such a strategy of freezing the funds and closing account on the first act, there will be some innocent victims who would have something foolish that would have led to the closing of their accounts.

Rest of the article will explain the causes that would lead to closure of merchants account by the Processor. Some of the actions to prevent are also explained here in this article.

  1. Unusual dispensation activity in the account

The main reason for why innocent establishments become victims for account closure is due to unexpected processing activity in their accounts. These activities are not defined properly. A little caution and some commonsense will help you overcome this problem.

  1. High charge backs

Irrespective of whether you have lost or won the charge back, the higher level of charge back will lead to the termination of the account. One should find ways to restrict the charge backs in the account and the issues which lead to the charge backs should be corrected.

  1. Product selling which is not listed in the agreement

If the provider of the merchant account finds that the selling of some products are not listed or is not similar to the one that is mentioned in the agreement, it might lead to the termination of the account.   One must list the names of each and every item that are sold.

  1. Processing of the business transactions of others

Processing of others business occurs when you get others business deals processed without prior consent of the provider. In most of the cases, businessmen opts this method in order to get the monthly target reached. If the provider of the account finds out that the merchant account is being factored, they will not hesitate to get the merchant account terminated. Moreover, you will have to bear the brunt of the providers and also will have to face the criminal charges.

  1. Higher transaction

If the business man processes any of the transactions which are higher for the business that you are doing, it can lead to the termination of the account.

  1. Processing higher volume

If the business man does higher volume of processing, it might lead to the termination of the account. The providers of the account expect the customer to stick to the volume that is mentioned in the agreement that is written.

If the merchant account is closed by such mistakes, you can still move by applying for another merchant account with another provider. Contact one of our helpful account representatives to assist you in the setup of a high risk merchant account or offshore merchant account for a high risk merchant.