Merchant accounts: can they be closed too
 

i dont really understand, thus i post on gfy to get flammed

with this paymonde bs and them losing their banks, can something like this be prevented if people got their own merchant account? Or can merchant account providers still screw you over somehow and close ur account

if it doesnt make sense, im sorry, i am not as smart as u

The bank can always close your merchant account, as well as VISA and Mastercard can do it anytime

well, that is true. im just saying, how do u prevent getting shut down and how do you prevent not getting fucked over like paymonde

Yes they can be closed. It's even worse when you lose a merchant account since you get placed on a "terminated merchant list" and once you're on there you and anyone associated with your company is pretty much blacklisted from ever getting an account again.

chargeback ratio over 1-3% and your red flagged then terminated.

You just need to follow some simple rules (which revolve around not trying to trick people) which paymonde didn't.