While this information is correct, it does not cover everything you need to keep in mind before closing your account. You should carefully review your dealer agreement to find the full details of the closure of your account. An important overview here is that you can`t close your account over the phone. Worldpay, like most suppliers, requires you to submit your application in writing. While the company knows full well that this requirement makes closing your account more uncomfortable and tedious, a written record of your application also protects you. If you find that you will still be charged a monthly account fee after your account closes, you will receive a written statement of the date your application was sent and proof that you have provided all the necessary information. As we said above, traders have found many reasons to leave Worldpay for a better (and more affordable) supplier. Manufacturing is extremely competitive and suppliers are always trying to convince established companies to move from their current supplier to them. Some companies will even offer to pay your early termination fee from your current provider if you register with them. It may be a good deal, but it is not. What for? Because nothing is ever really “free” in the manufacturing industry, and every supplier that pays your ETF for you will almost always require you to accept another long-term contract with them in exchange for that benefit. In addition to identifying specific procedures and requirements for closing your account, you also need to set the anniversary of your account.
This is the date on which your current term expires and a new deadline automatically begins if you haven`t initiated the process of closing your account. This date can be either the date you signed your contract, the date you started using your account, or another date, as defined in your contract. Unfortunately, while suppliers are going to go to great lengths to spell out how your birthday is determined in your contract, they are not so early on the date they actually use for your account. Customer service staff should be able to provide them with this information, as your supplier uses your birthday to determine when your contract will be automatically renewed and when an annual fee is due. In addition to the usual problems of high prices, long-term contracts and poor customer service, one of the most persistent complaints merchants have about Worldpay is that it is extremely difficult and frustrating to get out of your contract and close your account once you have decided to do so.