What is Terminated Merchant File or Credit Card Blacklist?

Terminated Merchant File (TMF) is an unofficial blacklist of consumers who broke the terms of their merchant agreement. Used by Visa or MasterCard processing banks (“acquiring banks”) extinguish those who have already been terminated.
It is mandatory for acquired banks to list your business and primary name if you have been terminated.  There are eight cases that will get you on the list immediately:
1. If you have been convicted of credit card fraud.
2. Visa or MasterCard obtain information that a merchant is identified as having large amounts of fraudulent charges.
3. An audit or investigation.
4. Excess number of counterfeit sales.
5. Laundering, which is a violation of Visa and MasterCard rules.
6. Deposited sale not authorized by the card holder.
7. Excess number of cardholder charge backs.
8. A serious violation of the merchant agreement.
If you feel like you have been put on this list by mistake, you must talk to your processing bank. Only the bank that put you on has the power to request you be taken off. It is very difficult to be taken off and rarely happens. Your acquiring bank must give a detailed explanation than they submit the request to MasterCard where they decide whether you will be removed.
Being on this list is a very serious matter that should not be taken lightly. If you want your business to prosper you should do everything possible to refrain from being added to this list. Furthermore, all applications you submit for a additional credit or another merchant account will be denied.
The best advice to avoid this issue is read your merchant agreement carefully and always follow the rules.  If there is any suspicious activity on your statements be sure to follow through and correct all matters.
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