North Bay Merchant Services

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While the circumstances are terrible, it’s always great to know that Susheel Kumar is back in town. Shusheel works for the Small Business Administration who ar...e offering very low interest loans for businesses affected by the recent bout of fires. He has the info so please make sure you help your small business. Shusheel told me that many businesses that close for five days, as many of you have, don’t reopen and we need all of you.

In case it slipped under your radar, effective May 11th, 2018, the US Department of the Treasury's Financial Crimes Enforcement Network (aka FinCEN) will start requiring that all acquiring banks and their processors collect information on all owners and controlling managers of businesses opening new merchant processing accounts. What does this mean for new merchant accounts? Moving forward you must list the names, titles, and percentage of ownership for all owners of the business applying for a merchant account. You will also be required to designate one owner/controlling manager as the Primary Control Contact, as well as, indicate which owner is the Personal Guarantor. Other than a bit more robust application, not really a big deal unless an investor does not wish to be noted on the application.

Attention ATM operators, below is a message from my service provider regarding misinformation you may have received from telemarketers. 3G SERVICE - STAYING OR GOING? Let's clear the air right away - Verizon 3G service will continue operating for years to come. ... We have received numerous calls from customers who have heard another wireless provider state that they have a "special deal" with Verizon. According to this provider, their 3G service will be kept on by Verizon while all other wireless providers' 3G service will shut off by 2020. Yes, it is as ridiculous as it sounds. Truth is, there is no such special deal or special letter because ALL WIRELESS PROVIDERS will be able to continue offering Verizon 3G service at least through 2022. Now, we cannot activate new lines on the 3G network, but the units that are currently active on the 3G network will continue to operate. We want everyone to RELAX and stop worrying - you are hearing false statements about 3G service.