credit card funds withheld
our credit card processing company is withholding funds on goods already delivered during our going out of business sale; what recourse do I have?
Answer
Re: credit card funds withheld
If you can't resolve it by negotiation, then ultimately a lawsuit if you feel you are owed money. Feel free to contact me if you think it is worth the cost of having counsel involved, which might get it paid on the threat of litigation, if the case is in SoCal.
Answer
Re: credit card funds withheld
Your relationship with your processor (merchant bank) is contractual. Your starting point is to determine the reason why funds are being withheld.
Once you know their reasoning, then you can go back to your contract, study the relevant provisions (when the merchant bank may decline charges) and form an opinion as to whether there is a breach of the contract or whether the merchant bank is within its rights.
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