Can closed merchant accounts still do refunds?

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  • rowan
    Too lazy to set a custom title
    • Mar 2002
    • 17393
    #1

    Can closed merchant accounts still do refunds?

    Just popped into my head, with all the crap happening with paymonde...

    If a merchant account is forcibly closed can the (former) merchant still initiate a refund of a CC transaction?
    Tags: None
    • NETbilling
      Confirmed User
      • Jan 2002
      • 8598
      #2
      If the merchant account itself is closed, it can not process anything.

      Mitch


      Mitch Farber
      CEO - NETbilling, Inc.
      Email / Phone: 888-357-8166 / 661-252-2456
      Transaction processing & 24/7 call center services with exceptional rates and flexibility, since 1998!

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        • spunkmaster
          Confirmed User
          • Jan 2004
          • 2052
          #3
          No, but the Bank has to so that's why they hold the funds for up to a year.

          The normal contract states they can hold the funds for 180 - 240 days after the last credit or chargeback on the account so if there is a chargeback on day 179 they can hold the funds for another 180 days !

          This is why it's stupid to tell customers to do a chargeback because each day there's a chargeback the clock restarts on the merchant getting the funds.

            Comment

            • rowan
              Too lazy to set a custom title
              • Mar 2002
              • 17393
              #4
              Hmm, interesting. If I'm understanding the situation correctly Paymonde have lost their processing, but they are still allowing webmasters to initiate a refund.

              Teaching customers how to do a chargeback - even if it's against a shady processing company - is ulimately just shooting yourself in the foot. The customers aren't missing out on anything, unless the processing company goes barmy and prematurely ends subscriptions.

                Comment

                • baddog
                  So Fucking Banned
                  • Apr 2001
                  • 107089
                  #5
                  Originally posted by NetBilling
                  If the merchant account itself is closed, it can not process anything.

                  Mitch
                  Mitch, could you turn on your ICQ for a few . . . . quick question there for you.

                  Thanks

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