As an owner of a business one of the worst things you could hear is that your merchant account has been terminated. Not only does this mean that you are unable to process credit card payments from your customers which alone is a huge blow to any business because now you face the prospect of a serious drop in sales, and you would be dealing with it for a long time to come since this also means that your name is now included in the terminated merchant file.
All merchant account providers including Solid trust Pay maintain a TMF which includes the names of businesses that have caused problems to them in the past resulting in the bank having to terminate the account and this list is used as a warning to all merchant banks when opening new accounts where they will not approve applications from persons listed in the file which means you will not have credit processing facilities anymore and even if you want to you cannot have the services of reputed service providers like Solidtrustpay.
The outlook does indeed seem grim, but what can one do to restore the blacklisted status?
The first thing to do when you find out that you have been listed is to contact the merchant bank that has listed you and find out the reason for such listing. Your listing can only be reversed by the acquiring bank that listed you. Click on to www.solidtrustpay.com to find out more about your account being terminated.
If the reason is the non-payment of a fee or charge, the simple task of paying the dues will remove your name and have your facilities restored. But if the reasons are more serious such as credit card fraud it is highly unlikely that any merchant service provider including Solid Trust Pay will remove your name because of the risk you pose to the banks.
If high rate of chargebacks is the cause, the bank will give you time to rectify the chargebacks and when there have been no considerable number of chargebacks reported your name will be removed.
If you are still unable to have your name removed you still can open an account with certain acquiring banks that will provide merchant accounting services but a t a much higher cost than what was charged by Solidtrustpay.
Contact www.solidtrustpay.cm to find out more about how you can remove your name and fight to have it removed as this will seriously affect your business in the long run and be prepared for a long drawn process to have your name removed.