Sentences with phrase «merchant account contract»

Doing so would generally violate the terms of their merchant account contract with the credit card company and result in that ecommerce site's merchant account being terminated, which would effectively put them out of business.

A close reading of a pet store's merchant account contract will reveal that the bank has the power of the purse.

Not exact matches

An acquirer who signs a merchant contract with MasterCard or disburses cash to a MasterCard credit card account holder in the form of cash disbursement.

A merchant engaging in a telephone solicitation may not make or submit any charge to the consumer's credit account until after the merchant receives from the consumer a copy of the contract which complies with this subtitle.

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Brokerages considering accepting deposits by credit card must first satisfy themselves as to the terms and conditions of acting as a «merchant» in this way, and must ensure that such deposits, in the full amount required by a contract of purchase and sale, (i.e. without service charges being deducted) are deposited promptly and retained in the brokerage trust account.