If your business account gets terminated, it can be a devastating experience. Suddenly, all of your hard work has been wiped away, and you’re left scrambling to figure out what to do next. Luckily, there are a few things that you can do in order to try and recover your account. This article will discuss some of the most important steps that you need to take if your business account is terminated.
Get Off The Blacklist
This is the first step you need to consider if this unfortunate event happens to you. Do some research to learn how to get off match lists in order to be able to continue in your pursuit of restoring your business account. You may need to match certain conditions or criteria in order to be eligible for getting off the blacklist. But it is still possible and worth doing if you want to be able to use your business account again.
MATCH stands for Merchant Alert To Control High-Risk meaning if you are a high-risk merchant and your account gets terminated, you will be placed on the list. This is a database that other banks consult when considering whether or not to do business with you. Getting off the blacklist can be difficult, but it’s not impossible.
Stop Incoming Payments
Make sure to immediately stop any incoming payments to your account if your business gets terminated. This will help minimize any potential financial loss. Stopping incoming payments is easy to do and only takes a few minutes.
Simply go to your bank’s online portal and navigate to the “Stop Payment” section. From there, you will be able to select the account from which you want to stop payments. Once you have selected the account, enter the amount of the payment you wish to stop. Finally, confirm your selection and submit the form.
Stop Bill Payments
You should also stop all bill payments associated with your business account. If you don’t, you may continue to be charged for services even after your account has been terminated. To do this, log into your account and navigate to the billing section. From there, you should be able to find the option to stop all payments. If you’re not sure how to do this, you can always contact your bank or the company that you’re being billed by for assistance.
Stopping billing payments is an important step to take when your business account is terminated. This will help ensure that you’re not charged for any services that you no longer have access to.
Determine The Cause Of Termination
Various things can cause a business account termination. Some of them are the following:
- Not providing accurate information: This is one of the main reasons why business accounts get terminated. Make sure that all the information you provide is accurate to avoid this issue.
- Violating terms of service: Every social media platform has a set of terms and conditions that users need to agree to. If you violate any of these terms, your account can be terminated.
- Inactivity: If you don’t use your account for an extended period of time, some social media platforms will terminate it.
- Spamming: Posting too much spammy content can also lead to account termination.
If your business account has been terminated, determining the cause is the first step to getting it reinstated. Once you know why your account was terminated, you can take the necessary steps to fix the problem and get your account reinstated.
File A Complaint
Once you know why your business account was terminated, you can take steps to fix the issue and then file a complaint with the company. This will help to get your account reinstated and also prevent future issues.
To file a complaint, you will need to gather all of the information about your account termination, including any correspondence you have had with the company. Be sure to include your account number, the date of termination, and the reason given for the termination. Once you have this information, you can contact the company’s customer service department and file a complaint.
Get Legal Help
You should hire a good lawyer who will help you with your request for reinstating your business account. Your lawyer will help you fill out the proper paperwork and file it with the court. The lawyer will also represent you in court if necessary. If your business account was terminated because of illegal activity, your lawyer can help you clear your name and get your account reinstated.
If you cannot afford a lawyer, there are many legal aid organizations that can help you. These organizations provide free or low-cost legal services to people who don’t have the funds for a lawyer.
Business accounts are your livelihood, so you should take action as soon as they’re terminated and get off the blacklist. Make sure to stop incoming and billing payments quickly. After that, you should determine what caused the termination and file a complaint. Finally, you should hire legal help and request for your account to get reinstated. Good luck!