Responsibilities with a Merchant Account

From:- aota.net

The following are some additional rules and regulations that apply to merchant accounts:

Credit card transactions should never be processed for another merchant.

Your merchant account should never be used to buy merchandise from yourself or to obtain cash from one of your own credit cards.

You may not charge any kind of fee, or surcharge, for purchases paid by credit card.

You may not establish any minimum or maximum transaction amounts for credit card purchases.

Any tax that is required to be collected on a sale must be included in the credit card transaction and not collected separately.

You must ship or deliver your product or service within 24 hours of capturing a credit card transaction. If separate shipments are required, you should charge for each portion as it is shipped.

Credits should not be issued to a different credit card than the one used for the original charge.