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#2098407 - 09/14/16 02:38 PM Third-Party Credit Card Processors
skitts Offline
Junior Member
Joined: Dec 2014
Posts: 42
Good morning -

I just discovered we opened our first account for a third-party credit card processor. I am doing some research, but thought I would ask what your f.i. does as far as BSA goes? Because of the large amount of ACH transactions expected, I am considering placing the business as a high risk entity, filling out an EDD form, conducting a semi-/annual review, and performing onsite visits. Is this overkill, or is there something I am missing? Any advice you can offer would be greatly appreciated!

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#2098409 - 09/14/16 02:53 PM Re: Third-Party Credit Card Processors skitts
edAudit Offline
Power Poster
Joined: Jul 2008
Posts: 4,733
You are here
finding out why the opened it without the BSA departments knowledge would be my first step followed by your suggestions.
Opinions can be considered as coming from anywhere but my employer.


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