When companies hear the phrase terminated merchant file they immediately start to worry. This is due to the fact that if you are a company who accepts sales via credit cards, this can basically cripple the amount of sales you can actually take in on a daily basis.
So what exactly is the terminated merchant file, and how can you get off of it if you get hit with the merchant file? The terminated merchant file is a list of companies or merchant accounts who have been banned from being accepted by a particular financial institution such as Visa, Mastercard, or others.
In order to get off of the terminated merchant file, you need to go to the company who put you on it in the first place. The financial institution that put you on the terminated merchant file is the only company who can also take you off of it. You will need to work with your merchant account provider such as Solidtrustpay to work to get removed from the list. Getting added or removed from the terminated merchant file can either be quite easy or it could be near impossible depending on the circumstances. solid trust pay will work with you to help you get a fair shake with the financial institutions so that you are not wrongfully on this particular list. Merchant account providers or operators want you off of that list so you can conduct normal business, but if you get on the list you need to work with them to be removed.