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Home » Merchant Accounts » Terminated Merchant Account / TMF / Match List

Terminated Merchant Account / TMF / Match List

A TMF merchant account also known as a terminated merchant file merchant account  or a match list merchant account is the worst thing that can happen to an online business. If your merchant account comes under “terminated merchant file” it means that your account has been blacklisted. This may happen due to several reasons some of which are under the control of the merchant and some, which are not.   If the bank ends the contract with the merchant on negative terms, it is most likely that the account would be terminated. The most common reason for which an account is terminated is when the merchant fails to pay the dues of the bank. The dues might be in the form of the termination fees, the monthly, six monthly or the yearly fees to the bank, or settlement of any past transactions. If the merchant fails to make any of these payments, they are deemed to be black listed. Another reason for the account being black listed if there is an unusually high rate of chargeback. No matter what the reason for the chargeback is, it is not really easy to convince the bank that it was the fault of the customer resulting in the merchant’s account being suspended. Other reasons can be processing fraudulent transactions and breaching the merchant accounts terms and services in any other way.   Once an account has been blacklisted, it is virtually impossible to get back on the bank’s list and you are unable to get an account from any other bank. Without a merchant account, you are not able to process the transactions and accept payments and hence getting your online merchant account blocked can be fatally harmful for your business.   We, at Advanced Merchant Systems understand that it is not always the fault of the merchant for which their account is terminated. We therefore help you to set up an account again as we know how vital a smoothly running online account is to your business. We help businesses who have had their online merchant accounts blacklisted by helping them get an offshore account. We first analyze the situation of your business and might ask for various documents that can help us understand the critical points. We then offer you solutions based on the best of our knowledge and skill and the practicality. Once you go through the quotes and the rates that we provide you, you can make a decision that will suit you the best. With Advanced Merchant Systems you can be assured that you would be out of this fix sooner than you expected and that too at a surprisingly nominal fees.

Introduction to Terminated Merchant File (TMF) or MATCH List

The worst that can happen to an online business is a termination of its merchant account. When a merchant account is terminated due to some reason, themerchant gets added to the MATCH list or Terminated Merchant File (TMF). Merchants whose merchant accounts fall under the TMF category or have been blacklisted get their application for new accounts declined by all the providers.

So, it’s always better to stay informed and prevent authorities from placing you on the MATCH list. Here are the answers to questions that you may have about Terminated Merchant File (TMF) or MATCH List:

Q 1: What is the MATCH System about?

A system introduced and managed by MasterCard, MATCH is basically a database that keeps the entire information about businesses with terminated credit card processing privileges. All merchant processing banks or acquiring banks use this database in order to screen their potential applicants. It helps them find out whether or not an applying merchant has ever been terminated before. An acquiring bank having a proper justification can add and remove businesses to and from the Terminated Merchant File.

This list is maintained as a blacklist which is always accessible for acquiring banks that need to cross-check while taking on new merchants. This prevents them from getting into business with ineligible businesses. One of the major downsides to this system is that the information listed on the database is not verified or confirmed for accuracy by MasterCard itself. This, in a way, allows the acquiring banks to take decisions on their own, which often makes things difficult for merchants.

Q 2: When Are Merchants Placed on the MATCH List?

While the causes for being placed on the MATCH list may vary from merchant to merchant, the most common reasons are excessive chargebacks, money laundering, and participation in fraudulent activities. Although it was very easy for the banks to place merchants on the database in the past, MasterCard has now become stricter with them.
As per the new guidelines, acquiring banks are now required to give proper reason codes before adding anyone to the list. This has made it easier for merchants to check the table and find out the meanings of reason codes applied on them. For example, the code “01” refers to Account Data Compromise. Similarly, the codes “02” and “03” imply Common Point of Purchase (CPP) and Money Laundering, respectively.

Q 3: What Happens When You Are Blacklisted?

When you getadded to the MATCH list as a merchant, all the details related to your business are recorded, including the company’s name, business type, head, and business partners. Once blackballed, you lose your eligibility to new merchant accounts. You may get a new merchant account with other banks, but it’s a very complicated process.

On finding a merchant applicant on the blacklist, a bank can ask the previous acquiring bank for an explanation as to why their account was terminated in the first place. After getting the information, it is totally up to the bank whether it wants to accept or decline the application. The bank can also offer a conditional permission based on definite terms and conditions, trying to prevent the same thing from happening in future.

Q 4: How Can a Merchant Get Removed from the List?

The only way out after getting terminated is to seek help from the same acquiring bank that placed you on the list. The best way is to call the provider and explain your case as politely as possible. You may have to be patient while they put the line to the concerned person. After getting into contact with the right person, you can know the reason for your termination, as well as the best way to get off the list.

While acquiring banks often help terminated merchant get off, it may be impossible in certain situations. In case of fraudulent activities, for example. However, you can get time to correct your credit report if the reason for your termination was too many chargebacks.

Q 5: Is it Still Possible to Get a Merchant Account after Termination?

There are only a few processing banks that support terminated merchants and approve them for new merchant accounts. If you are on the MATCH list and need a merchant account, you need to provide them with the exact and precise reasons for your termination. But since you may not find such a provider that easily, the best way is to try your best to avoid falling into the category of blacklisted merchants. Being blackballed not only affects your existing credit card processing services, but also makes it difficult to survive in the highly competitive corporate market!

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