It is axiomatic to regard merchant account service providers with low pricing as deceptive enterprises with notorious tactics ready to exploit loopholes they keep hidden in drudgery contracts. Since the advent of e-commerce and the necessity of third-party payment processors, businesses interpret more or high pricing as better or premium service.
Big cities each have their own unique traits, and in one as large as NYC, there are enough of them that they make significant impacts on how business is done. There are local regulations, business payment expectations, and demands that may not exist halfway across the country. For this reason, it’s a good idea to deal with local B2B service providers whenever possible.
Many merchant processors only offer funding for completed transactions with a two- or three-day delay. If you’re used to this, you may not realize how much this is affecting your business, but it shouldn’t take much thought before you can think of some problems it has caused. New businesspeople can also easily envision scenarios in which a delay in the funding of a bank account can cause plenty of problems. Here are some scenarios that are caused by funding lag: