QB Merchant Service Contracts and How to Get Out of it

Posted by on Mar 5, 2013 in News Updates | 0 comments

Merchant Services AdHere’s a news flash that I’m passing on to you people that are dealing with Merchant Service contracts.

Merchant Service contracts are usually lengthy, expensive to break, and you may also have to deal with the auto-renewal clauses.  But did you know, due to recent market changes, some Merchant Service Contracts can be broken penalty-free?

Here’s Why:

Recent increases in VISA fees¹ have led many Merchant Service providers to increase their rates
Under the Code of Conduct, whenever rates are increased, there is a 3-month window where contracts can be cancelled, penalty-free.

Excerpt:
By signing a contract with an acquirer, a merchant will have the right to cost certainty over the course of their contract. As a result, in the event of a fee increase or the introduction of a new fee, merchants will be allowed to opt out of their contracts, without facing any form of penalty, within 90 days of receiving notice of the fee increase or the introduction of a new fee. Code of Conduct For the Credit and Debit Card Industry in Canada

At Intuit, merchants have the right to cancel anytime with no penalty²
Turn on credit card processing in QuickBooks and you will enjoy the freedom to walk away from your contracts anytime with no cancellation fees. You’ll minimize admin work too, because QuickBooks processes payments and updates the company file in just one step! Try it risk- free now.  You may qualify for a $100 rebate and you can cancel anytime.

QuickNotes: www.quickbookstrained.com is now mobile friendly. From the web address you can choose Options/Mobile formatted and the site will appear in its entire living colour for you to view. Check it out.

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