Merchant Accounts for Terminated Merchants

Sep 16, 2016

So, you are on the TMF file. Do you even know what this is? The Terminated Merchant File is the list you are on when you are closed out from another merchant account. This can seem like the end of the world, but it isn’t. There are merchant account options available – and one of the best comes from EMB.

EMB, or is one of the top-rated high risk merchant account providers in the US and Canada. “High risk” is what you are considered now if you are on the TMF list, and that is the type of merchant that you need to look for. While most do not deal with those on the TMF list, EMB does. High quality merchants are worth fighting for. With EMB, you will not have to jump through hoops to get a merchant account. The only requirement EMB has is that there are no outstanding fees to other merchant account providers. Without that, you are free to apply!

Application is simple, to boot. You need the average paperwork, but you can apply online which saves you time. You can also get approved in as little as 48 business hours! This is an unheard of time frame – especially for a TMF merchant account. The process is smooth, and so will your business be afterwards. One big issues merchants have with high risk merchant account processors is the lack of options. Most offer up a big, bulky terminals with no other payment options. EMB offers you the ability to accept iCheck online, as well as mobile payments, making your payment acceptance options as good as a mainstream merchant. This helps you improve sales – which is great for everyone involved.

Another big plus is the understanding that chargebacks happen. Whether you have an e-cig shop or a pharmacy, you are at risk. This is simply part of the processing game, and EMB offers you the ability to have chargeback insurance, to help better understand the process. This can save you time and money in the end, so it is a wise decision for any merchant – but especially a high risk merchant.

Let us help you get a TMF merchant account today!

Get Started

Award winning.

  • 2012
  • 2013
  • 2014
  • 2015
  • 2016

Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

Live Chat