Never use the card/account number to refinance existing debts or as a payment for a debt deemed as uncollectible (i.e., recover funds for a dishonored check).
2. Minimum Transaction Amount on a credit card
When a customer uses a credit card to buy goods or services, you may establish a minimum purchase amount, but it must not exceed $10. Minimum purchase amounts cannot be applied to transactions that are processed with a signature debit card. Merchants are encouraged to disclose their minimum purchase requirement. This can be accomplished through signage at the point-of sale, and through proper verbal communication at the time a card is presented for payment.
3. Credit Card Surcharging
Visa and MasterCard agreed to change their network operating rules to allow merchants to impose credit card surcharges under certain conditions(surcharge amount cannot exceed its merchant discount rate and it is capped at 4%). The proposed settlement does not cover debit card transactions, and does not supersede state laws that prohibit payment card surcharges.
*State Laws: currently CA, CO, CT, FL, KS, ME, MA, NY, OK, TX prohibit surcharging
Generally, merchants are prohibited from making cash disbursements/cash advances.
Deposit transactions only for your own business. Depositing transaction for a business that does not have a valid merchant agreement is called laundering. Laundering is not allowed; it is a form of fraud associated with high chargeback rates and the potential for accommodating illegal activity.
6. To Check Cardholder's ID
Merchant cannot refuse to complete a purchase transaction because a cardholder doesn’t want to provide ID or personal information. However, if the card is unsigned or written ‘See ID’ or ‘Ask for ID’ in the signature panel, you can ask customers to check ID. If you are suspicious about the transaction or feel you need additional information to ensure the identity of the cardholder, make a Code 10 call.