I Banked with a local bank for 50 years. The bank was bought by a larger bank and the personal service has gone away and now there is a sell you something you don't need or you don't want feeling every time you talk with a banker or open a piece of mail from the bank. I thought about changing banks and went to another local bank. I told the banker that I was in the firearms industry, and the banker said we would welcome your business. I opened a personal and business account depositing a substantial amount of money in their bank. They sent me checks, bank cards and credit cards. The banker said she would check on opening me a "merchant Account /Credit card processing for my customers". Last week I was in the bank depositing $5,000.00 and the banker walked up to me and said I am sorry to inform you that our bank will not extend Merchant Account Services to you. I said really, she informed me that it was because I was in the firearms business an conducted transactions that were not face to face transactions. I asked her, "you will take my customers checks but not their credit cards". She replied yep. I explained that my business was a service and parts business, I was an licensed FFL and complied with all state, local and federal laws and regulations. I told her that I was going to inquire further up the banks management and request this denial of a Merchant Account in writing. Yesterday, I received a call from the regional bank Vice President and he confirmed that the bank would not offer my business a Merchant Account. There are no credit issues with my business, and the banks decision was based on not having a store front and not having face to face contact with my customers. I will be closing my account with this bank today or tomorrow. I have found numerous other banks and Merchant Accounts that will take on Firearms Industry business. This is in part due to the Obama Administration's Operation Choke point. I feel that the consumers need to know and assist businesses in allowing the government and banking industry from interfering with lawful commerce. This has been addressed by the congress but is still going on. I am planning on putting a notice on my website and adopting a policy of not taking checks and or credit cards from these banks and merchant account vendors. Don't be surprised if other gun dealers and gunsmiths adopt the same policy. The only force stronger than "political correctness" is greed. Take away the business from these banks and Merchant Account services and maybe they will wake up. I ask all FFLs to check into their banks and merchant accounts policies as it applies to their firearms business.
Nat Lambeth
Custom Guns and Ammunition, L.L.C.
Nat Lambeth
Custom Guns and Ammunition, L.L.C.
