TMF Merchant Accounts Account Type

　　TMF Merchant Accounts offer various account types tailored for businesses that have faced challenges with credit card processing due to being listed on the Terminated Merchant File (TMF). These accounts are designed to help businesses regain their ability to process payments efficiently. The main types of TMF merchant accounts include:

• Retail Merchant Accounts:
• Suitable for businesses that operate in a face-to-face environment.
• Allows acceptance of Visa and Mastercard payments without volume limits.
• No credit requirements, making it accessible for merchants with bankruptcies or tax liens.
• MOTO (Mail Order/Telephone Order) Accounts:
• Designed for businesses that process transactions via mail or phone.
• Offers secure payment gateways and chargeback mitigation tools.
• E-commerce Accounts:
• Ideal for online businesses looking to accept credit card payments.
• Provides a range of online payment solutions with competitive rates.
• High-Risk Accounts:
• For businesses categorized as high-risk due to previous chargeback issues or industry classification.
• Customized solutions to meet specific processing needs.

　　

TMF Merchant Accounts Broker Account Opening Process

　　Opening a TMF merchant account involves a straightforward application process. Here are the steps to secure your account:

• Application Submission:
• Complete the online application form provided by the merchant account provider.
• Ensure no application fees are required.
• Documentation Required:
• A valid government-issued ID (e.g., drivers license).
• A bank letter or a pre-printed voided check.
• Three months of recent bank statements and processing statements (if applicable).
• Social Security Number (SSN) or Employer Identification Number (EIN).
• Proof of a secure, fully operational website with trusted privacy and refund policies.
• Chargeback ratios must be under 2%.
• Proof that no funds are owed to former processors.
• Approval Process:
• After submission, the provider will review your application and documentation.
• Approval can typically be granted within 24 to 48 hours.
• Account Activation:
• Once approved, you will receive your account details and can start processing payments.
• Ongoing Support:
• Access to chargeback management tools and customer support for any issues that arise during transactions.

　　By following these steps, businesses that have been previously listed on the TMF can regain their ability to process payments and continue their operations effectively.