DON’T RISK LOSING YOUR PROCESSING ACCOUNT

It is important to know the severity about using your account to process a transaction for a friend. What do I mean by this? So, let's say you have a friend John that owns a roofing business. John does not have his own merchant account; he calls you up you and ask if you can take a credit card payment for him as a favor. Seems like a win / win situation. You help your friend out and your friend John can take a card from his customer. We all want to be good people in general and want to help our friends out when we can.

Not every situation will be exactly like how I'm describing but you must know that this is considered a form of money laundering. You can lose your services per the card brands and any future processing services you may inquire about in the future with another company. It could also cause issues with the IRS; these are just some of the worst-case scenarios and we want you to be informed. 

At Tampa Bay Merchant Services we are here to help you should you have questions about this post or anything related to Point-of-Sale systems or credit card processing solutions. Give us a call at 727-748-4181!