M
merchantprince
Guest
What is the name of your state?What is the name of your state? Pennsylvania
I have an online merchant account from Paymentech (www.paymentech.net) which has been suspended due to transactions they feel were suspicious. These transactions have already deposited to my business' checking account and represent a substantial sum.
I was not given an opportunity to investigate these transactions and credit the funds back. Now, all the transactions which followed them have been withheld and subsequent deposits from Paymentech have seized, along with the cancellation of my merchant account.
This action by Paymentech effectively puts me out of business and threatens my ability to cover other bills, both personal and commerial.
What rights do I have to withdraw all the current funds in my business checking account and then close it imediately? There are no actual chargebacks outstanding at this time. But I must move quickly or I may lose what funds are remaining in my own account - as they will almost certainly move to seize additional funds.
Can I legally close my checking account and open another to protect my funds? My business is a Type S corporation. Can a credit card processor attack me personally to recoup any funds they see fit? Do I have ANY rights to protect those funds already in my possession?
This matter is rapidly-developing (Monday, 12:14 p.m. 9/13/2004) and any immediate assistance is greatly appreciated in advance.
I have an online merchant account from Paymentech (www.paymentech.net) which has been suspended due to transactions they feel were suspicious. These transactions have already deposited to my business' checking account and represent a substantial sum.
I was not given an opportunity to investigate these transactions and credit the funds back. Now, all the transactions which followed them have been withheld and subsequent deposits from Paymentech have seized, along with the cancellation of my merchant account.
This action by Paymentech effectively puts me out of business and threatens my ability to cover other bills, both personal and commerial.
What rights do I have to withdraw all the current funds in my business checking account and then close it imediately? There are no actual chargebacks outstanding at this time. But I must move quickly or I may lose what funds are remaining in my own account - as they will almost certainly move to seize additional funds.
Can I legally close my checking account and open another to protect my funds? My business is a Type S corporation. Can a credit card processor attack me personally to recoup any funds they see fit? Do I have ANY rights to protect those funds already in my possession?
This matter is rapidly-developing (Monday, 12:14 p.m. 9/13/2004) and any immediate assistance is greatly appreciated in advance.