Bank Change

Earlier this year my husband and I decided to change banks. We pulled our funds and moved them to a more secure financial institute. I completely forgot that we had a few bills tied to that account until a letter came into the mail notifying us that we were past due. I got on the phone and immediately notified all vendors and update our information.

The same is true with credit card processing. Below are a few vendors that merchants will need to notify:
- The company you choose for merchant processing (MasterCard, Visa and Discover)
- If you decided to lease a terminal, the leasing company
- If you have electronic check processing like Telecheck, you will need to notify them as well
- If you decided to build customer retention with gift cards, then the gift card company
- Amercian Express – they are a third party vendor to all merchant processing companies

I hope this helps and that you won’t be caught off guard like I was when I saw that letter that said PAST DUE.

Posted in Uncategorized on September 1, 2009 by Sheree