Merchant Account Report Template
The CFO should annually complete the Merchant Account Report Template with existing and potential merchant account provider’s fee information. The CFO should calculate the estimated total fees per period (e.g., month, quarter) for existing and potential merchant account providers and record the estimated total fees on TM1060-1 MERCHANT ACCOUNT REVIEW. The CFO should consider the following when calculating estimates:
- Information about the various merchant account fees;
- Historical merchant account use;
- Projected future merchant account use;
The CFO should list and rate important service features of existing and potential merchant account provider’s on the Merchant Account Report Template. The CFO should use the information on the form to determine if any action is required in the company’s merchant account provider.
The CFO should list reasons and justifications for the decision to continue, renegotiate, or change merchant accounts on TM1060-1. The CFO should make changes and adjustments to its merchant accounts, in accordance with the decision described on the review form. As part of the annual merchant provider review, the CFO should (re)evaluate the merchant provider evaluation process, to ensure its continuing suitability and usefulness.
Merchant Account Report Template Details
Format: Microsoft Word 2013 (.docx)
Category: Treasury Management
Procedure: Merchant Accounts Procedure TM1060
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