P.S. It MUST depend on the agreement and the law in any given place as well.
Any merchant processing agreement has cancellation terms and the normal duration of the agreement. For example one year.
And if that was not enough any given agreement or it's term is always governed by the law in the area. So if the law says that an account in the bank can not be frozen without prior written notice in 2 month no matter what - than be it.
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