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Can finace company put down payments on a customers account that they had never made and put down reversals made on the pay ment and then say insuficient funds?
Wiki User
∙ 14y ago
If you had a dispute with a auto finance company that had put down that you had made a payment on a certain day and you and your bank no that you didnt but the finance company is trying to say that you did is it legal for this kind of stuff to be done?
Wiki User
∙ 14y ago
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What does merchants account accept?
A merchant account is a method that allows one to collect payments from customers. Typical merchant accounts will accept payments from Master Card, Visa and American Express.
What are the benefits of opening a merchant processing account?
The main benefit of a merchant processing account is that it provides more options for your customers, which opens your business to a larger number of customers. It also ensures that you will receive immediate payments.
What is the meaning of the term retail merchant account?
The meaning of the term 'retail merchant account' is a bank that enables a business to accept payments from customers via credit cards. All businesses will need such an account to operate.
When a customers account is paid the customers account is?
"credited".
How do you remove payment from suspense account to customers account?
payment in suspense to customers account as receivable account
What does adverse accounts mean?
An Adverse account means a delinquent account. An account that has not received on time monthly payments, or payments at all.
What is usually the largest single account in the overall balance of payments?
The largest single account in the overall balance of payments is, for most countries, the current account.
What is a Merchants account Credit card?
A merchants account credit card is a special type of credit card that is issued from a merchant acquiring bank. These credit cards allow a vendor or business to accept payments from customers using a credit card.
When the seller is paid the customers account is what?
The customer's account is credited.
How can you receive online payments without a bank account?
Online payments must go to a bank account. Using a routing number for the bank being used and the account for which it is being placed.
How long paid delinquencies remain on your credit?
A delinquency usually refers to an account with late payments. The late payments report on the account for 7 years.
What is lock box system and explain lock box system?
A service that a bank provides in which is processes payments for a company. The company directs its customers to send payments to a lockbox at the bank, whose employees then collect the payments and deposit them directly into the company's account. A lockbox reduces time between the receipt and processing of payments, which can be beneficial for the company using the service. On the other hand, it opens the possibility of fraud by bank employees, who could theoretically steal the payments by taking the funds from the payments and not depositing them.
