Processor Raised My Rate From 2.9% to 4.5% — Buried in Contract

Looking for advice on this situation. Processor Raised My Rate From 2.9% to 4.5% - Buried in Contract 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?

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.

Keep in mind that payment processor disputes are governed by the contract you signed, not consumer protection law (since you're a merchant). Read your merchant agreement carefully for the dispute resolution process.

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.

File a complaint with the CFPB immediately. Payment processors and banks respond much faster to regulatory complaints than to customer service tickets. I've seen $20K holds released within a week after a CFPB complaint.

Good discussion. Tagging this for the resource library.

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.