This may not be the post you are expecting. We spend a lot of time talking about prospecting, and closing the deal, but I don’t think I ever talked about how to close an account. As a merchant services salesperson, you know the game: signing up merchants is the win, but sometimes you’ve got to help them close their accounts—whether it’s their choice or yours. Maybe they’re switching providers, shutting down their business, or you’re cutting ties with a bad client. Whatever the reason, closing an account cleanly is just as important as opening one. It keeps your reputation solid and avoids headaches down the road. Here are three battle-tested ways to get it done right.
1. Follow the Contract Termination Process to the Letter
Every merchant services agreement has a termination clause—your first stop is digging into that fine print. Most contracts require written notice, usually 30 or 60 days in advance, sent via email or certified mail to a specific contact at the processor. Double-check the merchant’s copy and yours to confirm the terms match. If there’s an early termination fee (ETF), calculate it upfront and let them know what they’re on the hook for—no surprises.
Pro tip: Document every step. Send a confirmation email after they submit the request and keep records of all correspondence. This covers your back if they claim they “never agreed” to the fees later. A smooth exit here shows you’re a pro who respects the rules, even when they’re walking away.
2. Coordinate With the Processor Directly
Sometimes merchants drag their feet or don’t know the ropes, so you’ve got to take the lead. Call up the processor’s support line—yeah, the one you’ve got saved from your onboarding days—and get the exact steps for cancellation. Some processors have online portals for submitting closure requests; others want a signed form faxed over (old school, but it happens). Ask about any outstanding batches or chargebacks that need to clear first—those can delay things if you don’t flag them early.
Why bother? Because you’re the one they’ll blame if it goes sideways. Plus, staying on top of it keeps your relationship with the processor tight. You’re not just closing an account; you’re setting yourself up for the next deal.
3. Offer a Personal Walkthrough (and Sell the Exit)
This one’s for the closers who turn lemons into lemonade. Schedule a quick call or meetup with the merchant and walk them through the cancellation step-by-step. Explain how to submit the request, what fees might hit, and how long it’ll take to finalize. Keep it friendly—thank them for their business and ask why they’re leaving (you might learn something useful for your pitch next time).
Here’s the kicker: if they’re jumping to a competitor, sadly it happens, subtly remind them of your value—without being pushy. “Hey, if things don’t work out with the new guy, you know where to find me.” You’re not just closing an account; you’re leaving the door cracked for a comeback. I’ve had several over the years return later. Worst case, they remember you as the rep who didn’t burn the bridge.
Closing a merchant services account isn’t glamorous, but it’s part of the gig. Stick to the contract, lean on the processor, or go the extra mile with a personal touch—pick your play based on the situation. Do it right, and you’ll keep your name clean in this industry where word travels fast. Now, go handle it like the pro you are.
Happy Selling,
David
Payment Lynx Daily 