Don't Lose Sales By Not Having High Enough Limits On Your Merchant Accounts!

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By Matthew Hunt

 

Many Merchants are usually not aware that their merchant accounts have limits and if sales happen to have a rapid growth, like during the holiday season, then the merchant account provider could stop accepting any new transactions, until the following month, thus costing the merchant sales.

As strange as this may seem, merchant account providers shut down accounts if the total processed amount exceeds the businesses profile, which was set-up up during the initial application process and is usually only 30% higher then what the merchant initially estimated would be their monthly Credit Cards sales volume would be.

I know this may seem silly that the Provider would prevent a business from having increased sales and growth, but the merchant account provider is simply trying to circumvent any fraudulent activity. When a business has spike in sales that is much higher then their typical sales profile, it triggers suspicion bots that will put a freeze on a businesses account not allowing them to process credit card transactions until the following month and possibly even holding funds back as a reserve against possible future charge backs.

All this can cause the business owner some serious cash flow problems.

To avoid such scenarios happening to your business, you want to make sure you are aware of your merchant account limits and then make sure they are set high enough to handle sales growth and sale spikes cause by holiday seasons. Finding out what your limit is should be as easy as making a phone call to your Provider. You can never have too much communication between you and your credit card processing service provider.

If you have a good merchant account broker then they should be able to help guide you through how to deal with your merchant account limits, and how to change your profile limits as your business grows or has growth spurts.

Matthew Hunt is a Merchant Account Service Specialist. He has been involved in the Canadian Payment Processing Industry for over 4 years. Matthew has helped hundreds of Small Business Owners connect to the 'right' Payment Processing Systems while capturing low Merchant Account Rates. For more info on Matthew's Services and/or Merchant Account Service comparison quotes go to: http://www.Canadian-Merchant-Account-Services.com Article Source: http://EzineArticles.com/?expert=Matthew_Hunt