Legal ambiguities have caused many banks to drop medical dispensaries from their merchant account roles. For business owners who feel that credit card processing is an integral part of their success, this rash of rejection notices from banks is more than a little distressing. It isn't uncommon for the owner of a dispensary to sign up with a bank only to hear a few weeks later that their services are being withdrawn.
A single law, the Bank Secrecy Act, is the source of all the trouble. It requires banks to report any suspicious activities. Put in place to keep an eye upon financial shenanigans and potential terrorist money laundering, the law is wreaking havoc in the medical industry.
When will Things Improve?
For business owners, this is really
A single law, the Bank Secrecy Act, is the source of all the trouble. It requires banks to report any suspicious activities. Put in place to keep an eye upon financial shenanigans and potential terrorist money laundering, the law is wreaking havoc in the medical industry.
When will Things Improve?
For business owners, this is really