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Global Payments shutting down gun processor accounts

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Federal Firearm:
We just got notified that Global Payments (this is a clearing house that many MSP/ISO's use) are shutting down gun store accounts. According to the risk manager that I talked to who setup and approved our account a couple years ago, he said that Wells Fargo is behind it. He said they are aggressively shutting down gun stores, knife dealers, e-cigs, legal marijuana, etc. He doesn't agree with it, but apparently Wells Fargo has the majority say in it.

So, now on we go looking for a different clearing house other than Global that will work with us. In the meanwhile, they are holding all our funds as of 3 days ago for up-to 6 months.

MarkB:
What does your lawyer say about the "theft" of your funds?

Perhaps you should contact Fox News?

Federal Firearm:
He's handling it...but remember their funds are unlimited..mine is limited....I spoke to several news outlets today..not much interest...

groundgrid:
Try the following company:

McMillan Merchant Solutions
www.mmsllc.com

Family owned company that is committed to supporting the Second Amendment.
Also, statement from their web site:

MMS is also the McMillan family’s way of giving back to the community which supported them for 40 years and 3 generations. MMS will donate a percentage of every dollar made to certain organizations which fight for our 2nd Amendment rights and support the firearms and related industry. Not a single penny donated comes from you, the customer, but you will be asked to tell us to which organization you would like us to contribute as a result of MMS having your account.

MarkB:
Sounds like groundgrid may have a solution.

I would not expect any regular media to be interested in this problem but Fox has done some reporting on it.  The fact that they have canceled your accounts AND are holding your funds that you need to do business with may make the story interesting.  The holding of the funds amounts to an effort to put you out of business.  I know that Wells Fargo would not want the publicity.

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