Black listing and TMA

[JohnnyGTO]

We were stung by a very large credit card fraud and were not able to pay back the processing company in a timely manner. They have since been payed off and we have take steps to prevent the problem but we are now on a "TMA ?" list and have been banned from signing up for CC processing anywhere it seems.

 

Has anyone got any information on what this list is and how we can get off or what we can do to get back in business?

[cdi-buy.com]

ask one of the cc processing companies that denied you. you have a right to know.

[241]

Not sure what that is in the states as it would be Texas Medical Association.

 

The Uk has the Trade and Manufacture Act, then there are lawyers and accountants TMA lists with the law side it is indivuals and or companies that have had actions brought against them and accountants and insurers have the list of bad debts and credit.

 

In the Uk we have Companies House which holds records of trading to include whether companies or individuals such as directors have poor credit ratings, whether this is due to debts, liquidation, bad Tax paying, fraud, unfair business practices etc.

 

If you are in the states I am sure that you will have an equivalent body

[420]

Perhaps they are referring to The Market Age PLC ???

 

We are a financial Application Service Provider, or an ASP. We are slightly different from the classical description of an ASP in the sense that we don't host other people's intellectual property - it's our own applications and intellectual property which we provide within the ASP model. The core business is delivery of a financial analysis service to institutional banking clients, typically traders and trader-salespeople in banks, in London and Continental Europe, the US, and we're now breaking into Southeast Asia and the Far East as well.

[gal1264]

cardservices international will always give you an account. They may just require a deposit or some other verification. I think it's important to know that a lot of sucessful people have gone bankrupt at one time or another or dealt with some sort of issue like this and they CC companies know it. Did your current merchant provider boot you?

 

Tom

[d_8220]

We were stung by a very large credit card fraud and were not able to pay back the processing company in a timely manner. They have since been payed off and we have take steps to prevent the problem but we are now on a "TMA ?" list and have been banned from signing up for CC processing anywhere it seems.

 

Has anyone got any information on what this list is and how we can get off or what we can do to get back in business?

let me tell you that this is VERY BAD NEWS.

 

you may not understand how serious this is. virtually all places that allow you to accept credit cards (banks, internet services, amex etc.) will check the terminated merchants list (also known as match list) before they will approve your application.

 

virtually no one will accept you if you are on this list. visa and mastercard regulations make it very difficult for a bank to accept you if you are on this list, and no bank will want to.

 

you will be placed on the list for a variety of reasons, such as if you commit fraud, if you have too many chargebacks, if you skim or if an employee skims customers credit cards etc.

 

so you may ask, how to get off the list. this is not easy. some would say it is impossible. on the list is stored things such as your personal name, your business name, your address, your business description, and if you are in the US, your SSN number. therefore if you are in the US and you change your business name, you will still not be accepted as they have your social security number. if you are in another country, you have a chance of being accepted if you change your business name, but it is still likelly that they will find you based on your personal name.

 

according to mastercard, the only way to be removed from the list is if the bank that placed you on the list requests for you to be removed. and even if the bank does this, mastercard may or may not decide to remove you.

 

there have been many people who have simply had to close their business because they have been placed on the list. for many businesses it is simply not possible to operate if you are on this list. you may be able to find a very small payment procssing company that does not check this list, but often it will be inconvenient, will have high transaction costs, will look unprofessional, and often will not be around for long.

 

so if you want to try and get off the list, be ready for a huge struggle. yes, i was on the list, and it took me around three years and a lot of work to get of. how to get off will depend on the country you are in. you should try putting a written complaint into your bank. if this is no success, then you should put a complaint with either someone such as the privacy commissioner or banking industry ombnusman (depending what things you have where you are). if you are in the US, there is a law firm which deals just with the terminated merchants list. they will try and help you negotiate with the bank to get off the list. you could also try legal action if you want. if you had the dollars, you could mount an excellent case with excellent lawyers, and then you may be able to privately deal with visa/mastercard to get you off the list.

 

what i did, i do not want to reveal, but lets just say that it took a bloody lot of work. also, i have heard, but am not sure if it is true, that the listing only last five years. if this is true, then you may just want to wait five years. but i have a feeling that the listing is for life.