Why We Request Bank Statements
Why We Request Bank Statements During Unusual Account Activity
At Vantage Card Services, our goal is to ensure your business continues processing securely and without interruption.
From time to time—especially when we notice unusual or unexpected activity—we may request recent business bank statements or other financial documentation.
This is a standard compliance practice and is also something you agreed to when you signed your Merchant Agreement.
🧐 Why Am I Being Asked for Bank Statements?
We may request financial documentation if we detect:
- A sudden increase in your processing volume
- A high-ticket transaction outside your normal sales range
- An uptick in refunds, chargebacks, or disputed transactions
- Activity that differs from your original business profile
This request is not an accusation of wrongdoing—it's a proactive way to protect your business and ensure compliance with industry regulations.
📘 It's in Your Merchant Agreement
When you signed up to process with Vantage Card Services, you agreed to the terms outlined in the Card Services Terms and Conditions, which includes the following clause:
7. Financial Information.
Merchant agrees to furnish Global Direct and Member such financial statements and information concerning Merchant, its owners, principals, partners, proprietors or its affiliates as Global Direct or Member may from time to time request. Global Direct and Member, or their duty authorized representatives, may examine the books and records of Merchant, including records of all indebtedness previously purchased or presented for purchase. Merchant agrees to retain copies of all paper and electronic sales slips and credit slips submitted to Global Direct for a period of two years from submission, or such longer period of time as may be required by the Card Association Rules, by law, or by Global Direct as specifically requested in writing in individual cases.
Failure to provide requested documentation is considered a breach of contract, and under the Merchant Agreement, we reserve the right to:
- Place a funding hold
- Temporarily or permanently suspend processing
- Terminate the merchant account entirely
🔐 Why Are These Requests Legal?
Under federal regulations—including the USA PATRIOT Act, Bank Secrecy Act, and Card Brand rules—merchant processors are required to:
- Monitor for high-risk or suspicious activity
- Perform periodic account reviews
- Maintain up-to-date records and financial verification
🔗 References:
- FFIEC BSA/AML Compliance Manual
- USA PATRIOT Act - Summary
💬 Common Questions
“I’ve been processing fine for months—why now?”
Changes in transaction behavior (like large sales, refunds, or spikes in volume) can automatically trigger a routine review—even for long-time merchants.
“I’m not comfortable sharing this.”
You may redact any personal transactions unrelated to the business. We are only verifying business-related deposits and financial health.
“What happens if I don’t send them?”
We may place a hold on your funds, suspend future deposits, and/or discontinue your processing ability. This is not personal—it’s a contractual and regulatory obligation.
✅ What We're Looking For
When reviewing your bank statements, we look for:
- Verification of account ownership
- Healthy and consistent cash flow
- No unexpected or unexplained activity inconsistent with your business
We do not share this information with third parties, and your documents are protected under PCI compliance and data security standards.
🛠️ Need Help?
We’re here to answer any questions you may have and help you through the process. Our Risk & Underwriting Team is committed to working with you to keep your account in good standing.
📩 Contact Support: support@vantagecard.com
📞 Phone: 1-800-397-2380