When a merchant processes credit cards they normally have fees taken out at the beginning of the month for the previous month's processing. And if the merchant does not have enough funds in their bank account to cover the fees that are automatically withdrawn the merchants fees will bounce and the processor will hold all transactions or possibly freeze the merchant's account if not collected which could lead to loss of their merchant account and being put in a file for terminated merchants called the "match file".
Once in this file, it is almost impossible to obtain a merchant account and if they are able to, there will be a large reserve account required with funds from each transaction being held for up to 6 months.
Speedy's overdraft protection will cover these fees. It can also cover the merchants overdraft amount in their business checking account so they do not incur bounced checks, returned ACH debits and all the fees involved and hassles it causes. There is no monthly cost for this service and no minimum credit requirements like traditional banks may charge for similar services.
In addition, merchants enrolled in this service can also request speedy fast funding by simply clicking on a link. There are no turn downs based on personal credit alone and merchants only need an average of $4,000 per month in bank deposits for the past 3 months a long with a few other simple requirements to be approved up to $500,000 (higher amounts up to $10 million are possible but credit and financials are a factor in higher approved amounts).