Refund Policy

This Refund Policy applies to products and services provided by Velocity Processing, LLC (“VELOCITY”). By purchasing equipment or using our merchant services, you acknowledge and agree to the terms outlined below.

Equipment purchased from VELOCITY includes a one-year manufacturer warranty.

Purchased equipment may be returned for a full refund within ten (10) days of purchase. To qualify, the equipment must be returned with all original cables, power supplies, manuals, and peripheral devices.

After ten (10) days, equipment is not eligible for a refund. Exchanges may be permitted at VELOCITY’s discretion and may involve additional costs.

All refunds are issued to the original form of payment.

Refunds processed to a credit or debit card will generate an electronic receipt. Once initiated, your issuing bank may take up to ten (10) business days to post the refund to your account.

Elavon charges fixed expenses to maintain merchant accounts regardless of processing activity. These may include PCI compliance fees, statement fees, value package fees, next-day funding fees, annual fees, and monthly minimum fees. Fixed fees are not refundable unless billed in error. Account inactivity does not constitute account closure or waiver of these fees.

Variable processing fees are assessed based on card usage and card classification. Classifications are determined by the card brands (Visa, MasterCard, American Express, and Discover). Variable processing fees are not refundable unless billed in error.

Merchant accounts may be classified as seasonal to avoid fixed fees during approved periods of inactivity. Seasonal classification is subject to eligibility requirements. Accounts may not be temporarily closed solely to avoid monthly fees.

Except for chargebacks, all fees are billed in arrears. Fees incurred during a given month are typically debited on the first business day of the following month. Pursuant to card-brand guidelines, a merchant account is considered active if open as of 12:00 a.m. on the first day of the month. Accounts terminating for any reason remain liable for that month’s fixed fees.

VELOCITY does not issue refunds, credits, or reimbursements for fees assessed on merchant accounts that are inactive, unused, no longer needed, or otherwise remain open without processing activity. VELOCITY and its processing partners incur ongoing costs to maintain merchant accounts in an active or on-file status, whether or not transactions are being processed.

Each merchant is solely responsible for monitoring its merchant account(s), reviewing its bank account activity, reconciling deposits and withdrawals, and reviewing all fees and charges associated with its merchant processing services. VELOCITY does not perform or oversee a merchant’s internal accounting, bookkeeping, bank reconciliation, or financial controls.

VELOCITY provides monthly merchant statements showing applicable merchant account numbers, processing activity, and fees. Merchants are responsible for reviewing these statements promptly and notifying VELOCITY of any questions or concerns. Failure to review statements, reconcile bank accounts, or recognize recurring charges does not constitute grounds for a refund or reimbursement.

A change in ownership, management, accounting personnel, bookkeepers, controllers, employees, or other individuals responsible for financial or merchant-processing matters does not close, suspend, or terminate a merchant account.

Merchants are responsible for maintaining internal procedures to ensure that incoming owners, managers, and other appropriate representatives are informed of existing merchant accounts and services, and that any accounts no longer required are formally closed in accordance with VELOCITY’s account-closure procedures. VELOCITY is not responsible for fees incurred because a current or former owner, employee, or other representative failed to communicate the existence of an account or failed to submit a proper closure request.

Discontinuing processing, changing processors, closing a business location, changing ownership, replacing accounting personnel, or ceasing use of a merchant account does not constitute notice to VELOCITY that the account should be closed.

All requests to close a merchant account must be submitted through VELOCITY’s official Change Request Form, available through the ticket system on our website. This is the required and exclusive method for requesting account closure. Verbal requests or other informal communications will not be accepted as closure requests.

Until a properly completed closure request is submitted and processed, the merchant account may remain open and applicable fees may continue to be assessed.

VELOCITY will not provide retroactive refunds, credits, or reimbursements for fees resulting from any of the circumstances described above, including account inactivity, failure to review merchant statements or reconcile bank accounts, changes in ownership, management, or personnel, or failure to submit the required account-closure request.

Gateway providers maintain independent billing cycles and refund policies. Refund inquiries related to gateway services must be directed to the applicable gateway provider.

Refunds will not be issued for fees charged by a merchant’s prior processor unless expressly agreed to in writing by VELOCITY.

Velocity Processing, LLC 401 E. Las Olas Blvd Suite 802 Fort Lauderdale, FL 33301

Last Updated December 14, 2025