Looking for advice on this situation. Chase Closed My Business Account With No Warning - $15K Inaccessible Any guidance would be greatly appreciated.
Details: I'm in a situation where I need to understand my legal options. Has anyone dealt with something similar?
For anyone in this situation: don't rely on a single payment processor. Always have a backup processor ready to go. Diversification isn't just for investments.
This happened to me with a different processor. The demand letter approach works — cite their Terms of Service provisions about timely disbursement and threaten arbitration. Most processors settle to avoid the cost.
Look (at least in my experience), for anyone in this situation: don't rely on a single payment processor. Always have a backup processor ready to go. Diversification isn't just for investments.
Update: Thanks everyone for the guidance. I consulted with an attorney and we're moving forward. The advice here helped me understand what questions to ask and what to expect. Will update when there's a resolution.