To terminate a merchant account, an authorized or delegated signatory from your company must contact our Support team or your Account Manager.
Initiating the termination request
To action your termination request, provide the following information:
- Type of termination request: Specify whether the termination is for the entire account, a specific legal entity, or a specific business/processing channel.
- Reason for termination: Clearly state why you request to terminate your account.
Confirmation of termination
Once your termination request has been processed, the authorized signatory will receive an official termination letter.
Post-Termination details
Note the following regarding the post-termination process:
- Reserve holding period: In the case you have reserves, they will be held for the duration specified in your agreement with us, typically no longer than 180 days.
- Final settlement: We will return the reserve amount to the bank account we have on file for you, minus any outstanding liabilities such as chargebacks or refunds processed during this period.
- Bank account requirements: Ensure your bank account(s) remain operational to facilitate the final settlement.
Note
The request must be made by an authorized or delegated signatory of the account. To appoint a new person as a signatory for the account, contact your Account Manager or the Support team.