Closing an account should be as simple as opening one, but processors often make it difficult. Unexpected closure fees and final charges can leave a bad taste. Here's how to close your account cleanly.
Check your merchant agreement for: contract term remaining, early termination fees, account closure fees, and equipment return requirements. Knowing your obligations prevents surprises.
Call to initiate closure, then follow up with written notice (email or letter). Request written confirmation of the closure date and any final charges.
Before closing, ensure all transactions are batched and funds are deposited. Closing with pending transactions can cause funding delays and complications.
Keep records of: closure request date, confirmation received, equipment return tracking, and final statement. This protects you from future billing or collection attempts.
| Feature | Clover | CapClover |
|---|---|---|
| Customer Support | ✗ Long hold times, unresponsive | ✓ Your assigned rep's direct line |
| Business Funding | ✗ Limited or no options | ✓ Up to $500,000 |
| Approval Time | ✗ Weeks or denied | ✓ Same-day decisions |
| Hidden Fees | ✗ Frequently reported | ✓ Transparent pricing |
| Contract Terms | ✗ Early termination fees | ✓ Flexible terms |
Get business funding up to $500,000 with your own dedicated rep - this is their direct line, not a call center.