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03-30-2017, 01:36 PM #1
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 3,001
It amazes me the amount of misinformation that is being posted. Lockboxes are bad for a merchant with numerous NSF Days?
Really? The purpose of a lockbox is to avoid ACH Requests Rejects, causing another NSF. A reserve for a Lockbox? Where did that information come from, why would you need a reserve? Changing Processors, some funders that are involved in the cc business may impose that condition, but not all.
Since I am heavily involved in the Credit Card Processing World, call me with any questions.Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
Office: 727-233-1111
Skype: fc-financial
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03-30-2017, 01:38 PM #2
- Join Date
- Jun 2015
- Posts
- 3,327
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04-04-2017, 12:41 PM #3
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 3,001
Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
Office: 727-233-1111
Skype: fc-financial
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03-30-2017, 02:14 PM #4
- Join Date
- Nov 2013
- Posts
- 600
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04-04-2017, 01:14 PM #5
They are partnered with US Bank, and the reserve amount is up to the lender. The typical rule of thumb is to wait until a few batches show to ensure the client is batching normal volume. It will also take a good 48-72 business hours for the first batch to show once the switch in processing deposits is made.
Aside from that I am just amazed at how misinformed people are here in the process in general. People who claim to have been in the business for YEARS!Anthony Diamond
Underwriter
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03-30-2017, 04:28 PM #6
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