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Does Your Merchant Account Stink?

wholesale merchandise - creditOne of my students today actually called my phone going absolutely nuts because he had a dispute from one of his long-term students.


Instead of canceling their membership the proper way, a day after their last charge was made they disputed the charge telling their bank that they had canceled it.


So, of course, the bank just gave them their money back and debited his account for the money.


He went nuts because of this because he barely had any additional money in there at the time.


He couldn't understand why his merchant would take his money before the dispute was finalized.


He actually threatened the merchant to sue them for this. I seriously hope he was joking about that.



What he didn't know (which I explained to him) was that the merchant merely facilitated the withdraw. The withdraw actually came from the customer's bank itself.


Now I have had this happen on many occasions. If you are in business... it is going to happen. And I have been in business for over 17 years now and trust me... it happens.


Now it should not happen constantly, but it does happen.


The best thing to do in this situation is to


1. Remain CALM and not freak out like he did.

2. Work with the merchant and bank to resolve the dispute.

3. And in the end, if the person wants their money back... give it to them.

It is honestly not worth the hassle to fight for your money with a customer. Even if you don't have a money back guarantee or anything, give them the money.


It will make you stand out way above the crowd and will show that you are a good business to work with to others.


I have a very strict no refund policy due to the nature of my businesses. BUT, if someone requested it and wanted to quit, I wouldn't fight them for it.


That's just silly.


I actually remember a guy who sold supplements that if he ever got a refund request, he would not only give them a refund, he would also send them a free bottle of supplements just to make the person happy.


Anyways, here is the big tip: Don't be one of those people and freak out because someone wants a refund. Be a reputable business person.