Page 20 - GS221102

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In most instances, the merchant Merchant accounts are closed every day and the monies

must request in writing that the contained in those reserve accounts will remain with the
ISO for as long as it can keep them. Merchants must be
funds be returned. Even then diligent and tenacious in getting those funds returned. The
unfortunate reality is that an attorney can get merchants
merchants are at the mercy of the farther in getting an ISO's attention and getting them to

ISO as to when it will decide to respond.
return those funds. Every day merchants give up the fight and relinquish
monies that they earned and have a right to. They just don't
believe they are going to get anywhere. Do the right thing.
Finally, they began receiving assurances from the ISO that Don't be the type of ISO that makes merchants require
it would cooperate and disburse the checks on behalf of an attorney's assistance just to receive what is rightfully
the merchants. The merchants and their attorney would theirs.
request tracking numbers for disbursements, but then, as
had happened before, they would receive only one check Bryce Van De Moere is an attorney at Global Legal Law Firm, whose
for one merchant's reserve funds. And more often than attorneys are familiar with the rapidly changing nature of electronic
not, the check would bounce. Undeterred, they stepped up payment processing, as well as the associated, ever-changing regula-
their campaign to recover the merchants' money. tions involved. GLLF has decades of expertise with ISOs, processors,
A lame excuse commercial collections, credit card brands and other forms of electronic
payment processing litigation. Let us guide you through this new and
After three months, they ultimately forced the ISO to volatile environment, rather than attempting to navigate it on your
disburse all the merchant funds. The ISO, for its part, was own. Contact Bryce at bvandemoere@attorneygl.com and GLLF at
apologetic, stating that the failure to timely disburse the info@attorneygl.com.
funds was not intentional. A representative just chalked it
up to a "lack of urgency." The merchants and their attorney
found that admission offensive.