In order to know what to do if you are placed on the terminated merchant file you must first understand exactly what the list is and how it can affect you. While many companies may deserve to be placed on this list it’s not always the case and when it happens it can cause a seriously negative effect on those that are attempting to open a new merchant account.
A TMF list basically consists of companies that have had their merchant accounts closed by the processing bank due to negative issues revolved around their account. Because of this it can prevent you or anyone else from your company to be able to successfully open a new merchant account.
If for some reason you find out that you have been placed on a TMF list you will need to do everything within your power to get off. Using a reputable Solidtrustpay.com company can help to get you the merchant account that you need even when other companies may not give you the time of day. In order to get off the list especially if it was something that can be fixed you will need to contact the company that placed you on it to begin with. Most Solidtrustpay companies will want proof that the older issue has been resolved before giving you a new merchant account. You need to use a reliable company such as Solid trust pay or other similar company after contacting your previous merchant to find out what you were placed on the list and do your best to resolve it.