A merchant account is an account arrangement for receiving and settling a business's card payments. Dedicated accounts exist alongside models in which a provider serves multiple merchants through an aggregated arrangement.[1] It is not simply synonymous with the ordinary business bank account receiving eventual payouts.
Establish how receipts, fees, reserves and payouts are recorded. Check the contracting party and permitted trading activities. A positive processed balance need not be wholly available for withdrawal. Compare the actual account structure rather than relying on the account's marketing label.
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Compiled with AI assistance using public sources. General explanation, not individual legal or tax advice. Describing a concept does not mean Zoloo offers it as a feature.