Merchant Services Policy

Merchant Services Program Policy Update - 06/20/06

Bankpolicies.com is proud to announce the immediate availability of our revised Merchant Services Program Policy Template product.

The major revision to this product is in response to clients who have requested greater detail in the areas of risk management, underwriting, and fraud and chargeback monitoring policies and procedures to ensure appropriate control of their financial institution's merchant services activities.

What's New

The following new topics were added:

Topic 3 - Definitions.

Topic 4 - Structure of Accountability.

Topic 5 - Risk Management.

Topic 7 - Operational Overview.

Topic 11 - Fraud Monitoring.

Topic 12 - Chargeback Monitoring.

Topic 13 - Audit Policy.

What's Revised

Topic 2 - Policy Statement. The "General" subtopic was expanded and new subtopics of "Bank Operations Classification" and "Adherence to Customer Identification and Anti-Money Laundering Regulations" were added.

Topic 6 - Product Definition and Pricing. New subtopics of "Pricing and Methodology", "Pricing Model and Fee Schedule Structure" and "Profit Analysis and Monitoring" were added to replace the "Sales and Maintenance Fees" subtopic.

Topic 8 - Underwriting Guidelines Policy. The "General" subtopic was greatly expanded regarding required documentation. The following new subtopics were added:

Review and Approval Process

Approval Authority - Within Approved Limits

Approval Authority - Over Approved Limits

Prohibited or Restricted Merchant Customers

Additional Guidelines for Internet Merchant Customers

Periodic Credit Review

Acquiring Bank Underwriting Requirements

Agent Bank Underwriting Requirements

Topic 9 - Service Establishment Procedures and Responsibilities. A reference to the new Merchant Services Application and Agreement Form Template was added.

Topic 14 - Retention of Documentation.

Product Contents

Purpose and Contents - Topic 1
Policy Statement - Topic 2

Definitions - Topic 3

Structure of Accountability - Topic 4

Risk Management - Topic 5

Product Definition and Pricing - Topic 6

Operational Overview - Topic 7

Underwriting Guidelines Policy - Topic 8

Service Establishment Procedures and Responsibilities - Topic 9

Changes or Deletions - Topic 10

Fraud Monitoring - Topic 11

Chargeback Monitoring - Topic 12

Audit Policy - Topic 13

Retention of Documentation - Topic 14

Includes the following form templates:

Merchant Services Application and Agreement (6 pages)
Merchant Services Personal Guarantee (3 pages)
Merchant Services Training Checklist (1 page)

Ordering Information

This revised product is available to purchase from Bankpolicies.com for:

$225.00 - List Price

- or -

$100.00 - Update Price (applies only to clients who have previously purchased our Merchant Services Program Policy Template)

If you have ordered our Merchant Services Program Policy Template after 05/20/06 you are eligible to receive this new product at no charge.

Click here to place an order for this product. Clients who are eligible for our Legacy Rewards Volume Discount can apply their applicable discount level to the list or update price (whichever applies).

NOTE: Refer to our Place an Order page for important information regarding payment terms and our return policy. Orders placed for Product Updates are only available directly through Bankpolicies.com.