To support this enormous responsibility we earn some of our revenue through affiliate fees and advertising. Of course, we will provide you with all of the tools that you need to process payments. The Merchant Solutions is a fraud, it is an unprofessional, unethical company simple looking to scam anyone who falls for their lies. For instance, some payment processing providers who work with debt collectors may offer services such as chargeback prevention and no additional cost when processing certain transactions. Specifically, consumer complaint activity alleges this business claims to be a law firm attempting to collect on debts that. Once the application process starts, we will find the best merchant account for you. PayKings, although a high-risk specialist, ironically exacerbates issues with reliable streams of revenue that are common to the debt collection industry. Very shady business practices and a very deceptive sales process. My contract ends in January 2015 and I am looking forward to it. They have hired unqualified reps who dont know how to initiate talks with a new business, seems like working for paycheck only, doesnt seem they take ownership in helping future customers. In addition to its storefront payment processing services, The Merchant Solutions also dedicates a portion of its website to advertising its virtual terminalandpayment gateway services. eMerchant Authority can help with this. Comp Admin Fee $9.95 I would recommend not to do business with this company. Pure scam artists just looking to steal your hard earned money. In addition, they told us the transaction fee would be 2.65% of each purchase. The Merchant Solutions provides credit card, debit card, EBT, gift card, ATM, and check acceptance. Suggestion to get rid of them is to block them from your bank account, thats how they suggested getting out of a current contract! This company was nothing but deceitful from the beginning. Youll first need to navigate the logistics of processing different customer payment types with different pieces of hardware. The rule clarifies how debt collectors can communicate with you, including what information they're required to provide you. Offers automated account application and custom quote processes. That said, Host Merchant Services exclusively interchange-plus pricing plans may be cost-prohibitive for low-ticket and very new agencies. SAVE YOURSELF THE HEADACHE! The chargeback will be made against their account. On the downside, Durango doesnt disclose its pricing plans to the public on its website, which can be frustrating. The Merchant Solutions rates as an average merchant services provider across the board according to our rating system. Needless to say, I immediately sent the keypad and tracking revealed they received it in 3 days. The sales rep is manipulative and they never disclosed a 400$ cancellation fee or an annual fee. When we both know its theirs! They said they had cancelled the account, but the following month we were charged again. She also helped us to file our annual PCI compliance saving us about $40 per month. YOU WILL BE SORRY! I wish I would have read some reviews before I sign up with these con artists. not explained. Collection agencies require a merchant account provider that supports over-the-phone as well as online payment processing and facilitates timely consumer payments to prevent interruptions to revenue streams. PCI Non-Cpmpliance. Address: Recovery Solutions Group. Debt collection | Consumer Financial Protection Bureau These people are down right crooks! Merchant Processing Advisors can find multiple merchant account providers and can offer virtual terminals and payment gateways that allow their clients to process payments in a secure manner. If your company is in the business of collecting debts, then you will need to have some way to process payments. Screw this place I wish their was a way we could put them out of business. 4 Best Merchant Accounts For Collection Agencies Collection agencies require a merchant account provider that supports over-the-phone as well as online payment processing and facilitates timely consumer payments to prevent interruptions to revenue streams. Although most of these terminals can only process card payments, they also typically include smart features like recurring billing and options to automatically collect funds. Some processors have no monthly, no annual fees, no contract, and cheap rates. As a small business owner I was looking for a way to expand my business by being able to accept credit cards, so I may be able to open my door to new clientele. When you should have paid 1.62. Therefore, if you plan on accepting ACH payments online, youll likely need a payment gateway. the rep I spoke to became Irrate and told me he didnt appreciate me accusing him of charging bogus fees and he told me he was going to hang up on me. From The Editor As is the case with other industries that fall into the high-risk category, collection agencies operate in an unstable regulatory climate and unfortunately experience a higher risk of unreliable streams of income. Monthly Processing Range PaymentCloud helps merchants navigate the necessary steps to become PCI-compliant within 90 days and without charging a PCI compliance fee. Debt Collections Merchant Account Solutions - eMerchant Authority Home; Services Healthcare Services; Consumer Business Collections . RUN! They are awful and very dishonest do not use them. Such a vendor can be a great help for your debt collector business. They Rip you off way more than wat they told you they would charged. We take great pride in providing one of the only objective an unbiased merchant account review websites on the internet. To my surprise after trying them out I was told that I had signed a 3 yr contract with a $350 termination fee. Monthly Fee $25.00 We are running in the hole compared to the money we received through them from credit card transactions, and the money they have charged us for the service they provide. Business Credit Cards Without Personal Guarantee, Find Accounting & Payroll Software Reviews, Discover The Best Accounting & Payroll Software In 2023, Discover The Best eCommerce Platforms In 2023, Best eCommerce Platform For Small Business, Is Dropshipping Worth It? I left MerchantSolutions a number of months ago, even though it cost me remaining monthly fees until my contract expires. The following is a sample list of complaints filed against United Merchant . The debt collector refers to themselves as an investigator, or that they will contact the investigator on your case. They will give you false information over the phone and then tell you their salesperson had no authorization to give it. Square is a top choice for POS for any type of business. Their payment processing services also include address verification services, cardholder verification value, POS systems, card terminals, EBT, Fleet Card acceptance, gift cards, and e-commerce solutions. Click here for more product information. They need to know that if they are going to be offering you services that there is a strong chance that they will get their money back in the event of a chargeback. When their machine failed, they blamed me even though the manufacturer of the machine explicitly explained to me that TMS was to blame for connection security error. I was charged a cancellation fee for an account they had no authorization to open and then when I called to cancel they said they needed a signature. Many may find PaymentClouds organization of products on its website to be less than navigable. The Merchant Solutions has been accredited with the Better Business Bureau since 2010 and currently has an A+ rating and has received 2 complaints in the past 36 months. The company never disclosed high fees , fees for not taking a test, and excessive closing fees. TOTAL SCAMMERS!!! I would not recommend TMS to my worst enemies. So only use this business if you like being lied to and stole from cause thats what their good at. These revenues in no way influence our ratings or reviews. Stephanie T. Nguyen, Chief Technology Officer, Include spaces in matter number if applicable. As expected, a large number of The Merchant Solutions reviews on this and other consumer protection websites mention undisclosed fees, incomplete representation of rates, and a disconnect between what agents promise and what they ultimately deliver. Business owners starting a collection agency need to thoroughly account for their startup costs and potential interruptions to future revenue due to customer chargebacks and instances of fraud. The job of the business, however, is to ensure that they have processes in place to keep this risk down to the absolute minimum. Instabills main draw is its services to high-risk international merchants that process offshore payments, although its support for brick-and-mortar agencies that need on-site payment processing leaves something to be desired. Sign up today and get a free card reader! eMerchantBroker.com is a Los Angeles, California-based company that offers high risk e-commerce processing solutions including debt collection merchant accounts.The company's products include ACH processing, an online payment gateway, merchant cash advance, and a chargeback management system to help merchants dispute and resolve chargeback claims. I cant seem to get anywhere with phone calls to the company and have been shuffled around so much that I think everyone that answers the phone is a supervisorbecause that is always what the last person tells me they are transferring me to. If you have not been clear about your business with the merchant account provider that you are working with, or your chargeback rate is high, then they. All in all, the payment processors high-risk contract terms are reasonable even for lower-volume debt collectors. This means that your business will be making a lot more profit for each transaction. After he review my merchant statement he promised me that Im going to save $100.00 a month, I signed & cross the $495.00 early termination fee & initial the pages. I will NEVER consider using them again. No mention of 3 year contract and no proof of it. This company will be out of business in one year or less. Debt collection businesses should partner with a merchant A business that accepts credit cards for goods or services. This has Been the worst POS processing company I have ever felt with. These people called me for weeks and sent me all kinds of sales materials when my business started. See Which Processors Offer No Monthly Fees And No Contracts. Total $247.95. The Merchant Solutions commits serious unethical and possibly illegal business practices, and you can see their legacy of fraud at RipOff Report.com or the BBB for Woodland Hills California, or on Yelp.com. Seriously they will destroy your business. Horrible company. Check out their google and Yelp and RipOffReport.com reviews for the testimony of hundreds of other customers who have been ripped off by The Merchant Solutions! Debt Collection Agency Merchant Services, Collection Agency Credit Card Processing Collection Agency Merchant Account Solutions At Premier One Payments, we are the rare merchant account services provider that is ready and willing to work with collection agencies. A lot of other company with no contract and fees to work with out there. $1350 fee if terminal is not returned within 10 days. Besides, we understand just how financially difficult it is to become a business owner. Merchant Solutions Group - Merchant Cash Advance | Working Capital Get your cash flowing again with our Merchant Cash Advance debt recovery solutions. Noah is a writer and content creator currently living in Fairfax, VA. I have been getting charged for a second account since April of 2012 that I did not authorize and for which they are telling me I did. Best Collection Agency Merchant Accounts For 2023 - Merchant Maverick Now that youre familiar with the logistics of payment processing youre likely to navigate, its time to consider some tips to get your collection agency approved by an acquiring bank. Teaming with IVR Technology Group, we also provide pay-by-phone voice . The collections industry is a particularly high-risk one, and some high-risk merchant account providers still dont suit the needs of new and growing debt collection businesses. Check out our complete list of High-Risk Merchant Account Reviews for more traits that other top-performing high-risk specialists have in common. They stealing $1000.00 dollars from my account. They are very rude and they will not correct the problem with me even though they said they would. Credit card processing for debt collection agencies Within a month or two they charged me a yearly acct fee of $80.00 and then out of the blue raised the monthly rate to $20.00. Find Loan Options For Your Small Business. Login - vt.merchante-solutions.com Most merchant providers are reluctant to offer. The overall household debt for an average family increased by 11% during the last 10 years. Today they transferred $70 out of the bank account which now has been shut down over theyre crazy charges. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations. The payment processors tiered pricing plan increases processing rates for non-qualified and mid-qualified transactions as well, which can be particularly constricting for very new collection agencies. Businesses need cash: Restaurants, Bars & Hotels Automotive Salons & Day Spas Doctors, Dentists & Vets Franchises & more Copyright CardPaymentOptions.com, Inc. (Digital Fingerprint: 0d38c6720f0d78a701b74d58653af608). Save money with Merchant Solutions low processing rates and free terminal program. They are beyond shady and dont care at all about customer service!!! Looking For One Of These Merchant Accounts For Collection Agencies? Provider of affordable payment processing hardware that can streamline various debt collection operations. Common themes include undisclosed fees, difficulty reaching a representative, problems with leased equipment, and termination or restocking fees in excess of $900. Their payment processing services also include address verification services, cardholder verification value, POS systems, card terminals, EBT, Fleet Card acceptance, gift cards, and e-commerce solutions. This company is nothing but a fraud. This means that the process is fast. A recent negative review mentions poor sales techniques: Merchants that are worried about undesirable fees being added to their contracts should review which contract terms to avoid. Just ridiculous! Debt Collection Industry and Merchant Accounts (800) 228-0210 Technical Support, The Merchant Solutions also offers a customer service email at [emailprotected]. for lack of use and Merchants want 490 dollars to terminate service. They really do not want to do this. Find the resources you need to understand how consumer protection law impacts your business. The majority of Americans use loans, credit cards, lines of credit to pay for their lifestyles. After being a member of The Merchant Solutions for over 10 years I discovered (by simple reviewing the statements) the December invoice had the following charges. According to The Merchant Solutions complaints filed on this site and elsewhere, TMS appears to offer a standard contract of three years with automatic renewal, an annual fee of $79, a PCI compliance fee of $99, and an early termination fee of $395 or more. The merchant solutions is the most horrible company I have ever dealt with. Nasty contract . Lina M. Khan was sworn in as Chair of the Federal Trade Commission on June 15, 2021. I am looking to upgrade 4 of my restaurants systems. When people stop paying, unpaid debts are sent to collection agencies These agencies go after debtors to recover the money for banks and creditors. What Consumers Should Do When Fake Debt Collection Scammers Call. Phantom debt collectors impersonate law firms | Consumer Advice Copyright 2020 eMerchant Authority | Website by JM Marketing. Merchant Mavericks ratings are editorial in nature, and are not aggregated from user reviews. And, likeseveral other merchants weve covered in this article, Soar doesnt publically disclose its pricing plans on its website. If you need help with rate and fee negotiations, payment integrations, cost optimization, or provider selection, schedule a consultation here. That means we spend every day sharpening our tools and providing the know-how to efficiently resolve delinquencies and liquidate accounts. reporting it to the relevant supervisory organizations, top-rated payment processors for customer service, Cancelling a Merchant Account Without Paying a Fee, How to Get Out of a Merchant Account Contract, How to Make Your Payment Processor Release Your Money, Cancelling a Merchant Account Contract Without Paying a Fee. He is very knowledgeable and provided excellent support. Calls from United Merchant Asset Recovery? - Consumer Law Firm Center When I explained to the representative that my business is not making any money she did not care, but wanted to know where to send the cancellation to withdraw the fee. Product & company names, logos, and trademarks referred to on this site belong to their respective owners. Learn more about the new debt collection rule. If you have already signed up with them, get out fast. Whether youre building your agency from the ground up or already have a business that needs to switch to a better merchant account provider, your agencys success depends on multi-channel payment support, systems to combat fraudulent chargebacks, and transparent pricing plans and contractual requirements. In Summary: 4 Best Merchant Accounts For Collection Agencies. So then I cancelled and they charged me a $945 restocking reprogramming fee? the 24/7 support is fake, they never support you on weekends or after hours, NEVER finally i got my business closed and I was lucky someone bought my POS, because otherwise i had to pay 950 USD to them for cancelation, the funny thing is when i transferred the pos system to the other company name (the company that bought it) nobody told me that i should request a cancelation form to cancel my account, SO i ended paying 67 USD a month after the system was transferred and being used by their new client Finally i sent the cancellation form beginning of the month, 20 days later i called them and they said yes we received it, but you will be charged for the next month (67 USD) because that is our policy PLEASE NO ONE CHOOSE THIS COMPANY, THEY ARE REALLY BAD, THEY WILL STEAL YOUR MONEY AND YOU WILL KEEP PAYING THEM EVEN AFTER YOU END YOUR CONTRACT WITH THEM. Get the truth here. Are you with The Merchant Solutions? We are on our 4th machines, the terminals are very light, and very cheap looking, they break all the time, but when you try to get out of the contract because of it, they will say something like, but we can trouble shoot for you. The sales rep promised that I had nothing to lose and that I can try it for 30 days and can cancel without any penalties. Youre also working with a business that knows your problem and has the fix. Instead, it appears merchants must contact the company directly to learn more about the exact terms of this promotion. From the beginning I was deceived,I was promised free terminal support and replacement, discounted terminal paper, and outstanding customer service all of which I never received. These customer chargebacks can make acquiring banks wary of approving merchant account applications from debt collectors. Understand how the CFPB's Debt Collection Rule can help you. We can help your collection agency even if you've you been turned down by service providers in the past. Debt Collection Merchant Accounts Host Merchant Services caters well to collection agencies with various business models due to its specialized accounts with customized pricing for large- and small-ticket agencies as well as nonprofits. I have filed a complaint with the bbb and am probably going to get a attorney to get my money back. Merchant Mavericks ratings are not influenced by affiliate partnerships. 180 Maiden Lane, 15th Floor. When scammers threaten to arrest you, suspend your driver's license, or call your employer if you don't pay immediately, hang up and report the collector to the FTC at ReportFraud.ftc.gov. Los Angeles Debt Collection - Credit Consulting Services I have been with them since 2015 and in June,2019 I decided to go to a different processor. They need to see whether you have run into any issues previously, particularly when it comes to chargebacks. Other companies may just outright decline your application. High-risk specialist with anti-fraud and anti-chargeback protections. Verify before you sign with this company. Min. This is Uncle Fried Chicken LLC, and The Merchant Solutions are scammers and dont follow their own contract rules. With a unique regulatory background and experience in high-risk industries, Flex Payment Solutions offers credit card processing that integrates simply with your system, full transparency on fees and 100% compliance. I had signed up with them thinking they can offer me the lowest rates with a price beat guarantee. 844-868-8436, 877-664-9642, 877-599-2008, 407-544-3632, 814-351-0205, 888-667-0533, 844-378-7772, 386-478-4129, 850-391-2427. PaymentCloud provides users with advice on choosing a chargeback management service and fraud mitigation service. Very rude on phone, does not care about you as a customer. Higher cost than explained in solicitations Merchants Solution Group | Better Business Bureau Profile We enforce federal competition and consumer protection laws that prevent anticompetitive, deceptive, and unfair business practices. As of right now, I have this company for falsifying documents, and felony forgery. We were charged a $350 restocking fee after being told there would be NO FEES. This company should not be allowed to do business. eMerchant Authority specializes in merchant accounts for high-risk businesses; this includes debt collection agencies. Also when you call they have no customer service and are rude on the phone. Your Merchant Cash Advances help commercial businesses succeed. CFG Merchant Solutions, LLC. Search the Legal Library instead. Now illness has caused me to lose my merchant tax ID. Suggest you consider that Paymentech and many others do not charge this. Keep your money you work for and dont use them. They round up everything, even when they shouldnt according to elementary mathematics! This field is for validation purposes and should be left unchanged. A full point-of-sale (POS) system in one sleek package. I finally called and asked to cancel they told me I was in a 3yr contract, I was never told this or else I wouldnt signed up for this torture. Better look for alternatives. Such a provider will have a better understanding of the challenges facing your industry, and they may even advise on how to solve such issues. BBB received a pattern of complaints concerning collections practices. By working with eMerchant Authority, this is a problem that can be avoided. This post will help: How to Get Out of a Merchant Account Contract. Tayne Law Group is a New York-based debt resolution law firm that helps small business owners resolve debts of all sizes. The debt collection industry is a high-risk one, which means that business owners who want to start a collection agency may face a few hurdles when looking for a merchant account thats right for them. The second your merchant account closes down is the second that you are no longer able to accept payments for your company. eMerchantBrokers strictly long-term contracts and expensive early termination penalties can significantly hinder the ability of a new collection agency to flourish, and the payment processors reputation for misleading sales gimmicks doesnt help matters much. You may be surprised to know that this is one of the top reasons why smaller companies end up having to shutter their doors. Click here to earn a reward. Complaints for Recovery Solutions Group, LLC - Better Business Bureau When account underwriters are deciding the fees or terms for working with them, they will need to see the finances of your business. Certain payment gateways services support ACH payments and may be included as part of a payment processors list of basic services. when you cancel.Please take your business elsewhere. Seeking to take them to court for their theft. Try PaymentCloud. I was to have 1 account with Merchant Solutions ! Its likely that Instabill offers terminals through a lease, which is nearly always more expensive than purchasing a terminal of your own in the long run. I have proof of all deductions after I cancelled. eMerchantBroker lacks options for agencies to integrate payment platforms with processing hardware and payment gateways, which limits the speed at which a debt collector can collect the past-due payments its tracking down. For this reason, they are often linked to high complaint totals. When I set up an account they told me there would be no contract if I used the mobile software and no fees just the $9.00 per month maintenance fee.
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