Terminated Merchant File is created when the account is terminated. The account may get a TMF tag because of many reasons. TMF merchants may get approved but not all. There is a very strict process of evaluation that is followed by processing companies. If you are listed as a TMF merchant follow the steps to improve your chances of approval.
- Talk to the PSP that has raised TMF request. See if you can resolve the issue and clear the doubts. If they are convinced and take corrective steps then you may get other accounts easily.
- When approaching new provider make sure you mention that you are listed as Terminated merchant.
- Send a detailed email about the reason and why you think you may get another chance.
- If none work above approach a merchant service reseller like us. We may work with you and try to get you approved somewhere.
- Start accepting payments with echeck and ACH.
- Start accepting Crypto currencies
- If approved then be very cautious and use your account extremely wisely