Reclaiming Merchant Reserves & Understanding Chargebacks | Protect Your Business!

Reclaiming Merchant Reserves & Understanding Chargebacks | Protect Your Business! | PEP027

5M ago 26:21

Konten disediakan oleh Expert Payments Attorneys of Global Legal Law Firm. Semua konten podcast termasuk episode, grafik, dan deskripsi podcast diunggah dan disediakan langsung oleh Expert Payments Attorneys of Global Legal Law Firm atau mitra platform podcast mereka. Jika Anda yakin seseorang menggunakan karya berhak cipta Anda tanpa izin, Anda dapat mengikuti proses yang diuraikan di sini https://id.player.fm/legal.

Unlock the secrets to reclaiming your hard-earned money from reserve funds and chargebacks on this enlightening episode of the Payments Experts Podcast. Senior Associate Attorney Bryce Van De Moere and Managing Partner James Huber from Global Legal Law Firm join us to share their expert strategies for navigating the often murky waters of merchant accounts with payment processors like Stripe and Shopify. Learn how to identify unreasonable practices by comparing your average ticket price to the reserve amount and discover the legal avenues available to challenge excessive withholding.
Many merchants harbor misconceptions about reserve accounts, often to their detriment. We tackle these misunderstandings head-on, emphasizing the importance of negotiating terms to avoid being trapped in draconian contracts. Bryce and James shed light on the risk-averse nature of banks and payment processors, who frequently hold substantial reserve funds without a clear end in sight. This episode is a must-listen for any merchant looking to protect their financial interests by being proactive in their agreements with payment processors.
We also delve into the detrimental impact of unexpected fees and opaque reserve account practices, using a compelling case study involving Stripe Capital. Hear how one merchant was left in a precarious financial situation after being classified as high-risk despite initial success. The episode concludes with actionable insights on understanding merchant processing agreements and the crucial role of legal intervention in resolving disputes and reclaiming reserves. Equip yourself with the knowledge to safeguard your business and ensure your financial stability.

A payments podcast of Global Legal Law Firm

Chapter

1. Reserve Funds and Chargebacks Explanation (00:00:00)

2. Merchant Reserve Account Misconceptions (00:04:28)

3. Payment Processor Reserves and Fees (00:09:00)

4. Reserve Fund Issues and Solutions (00:21:02)

34 episode