Most merchant providers are reluctant to offer. The Merchant Solutions provides credit card, debit card, EBT, gift card, ATM, and check acceptance. They even familiarize you with techniques and systems that keep customers satisfied and less likely to initiate chargebacks. Weve resolved overdue accounts for clients without damaging customer relationships. This is why when you partner with us you also enjoy transparent pricing with no long-term contracts or hidden fees. We appreciate it. When I wanted to cancel they wouldnt send me the cancellation form for weeks. Just ridiculous! 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. We have located multiple The Merchant Solutions customer service numbers: (888) 707-2836 Toll-Free Customer Support/Sales Specialized account support for multiple collection agency types. I have never had any other merchant?! However, you need to hire a merchant debt collector account provider who offers merchant collection solutions that meet your companys needs. If you are a small business owner avoid these crooks like the plague. Location & Ownership Do not give them your business. 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. Avoid this outfit as they will make your life miserable. 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. Pure scam artists just looking to steal your hard earned money. I was never given a written contract had computer generated signature. Then I began getting charged a PCI non compliant fee $40.00. To the companys credit, the website for TMS does not appear to engage in any deceptive marketing tactics. Consider whether your agency is a relatively low- or high-volume operation, whether you function as an eCommerce or brick-and-mortar business, your chargeback history, and the pricing plans you prefer before you decide on a collection agency merchant account. It's a cut throat industry. This company should not be allowed to do business. If you have your own The Merchant Solutions review to make, please do so in the comments below. Debt collection businesses should partner with a merchant A business that accepts credit cards for goods or services. I think I was the set up by Merchant Solutions. Would recommend , Merchan Solution they are very professional , Ive been talking to Austin back and forth seems like I know him, anyway every question I did not understand about this machine he explain it very clearly to me, He was not Just a sales person he wants my business to succeed Thank you very much .Austin Smith, Merchant solutions are very professional. Monthly Processing Range 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. He has nearly two decades of experience in card payment services, both as a former merchant services sales representative and as a professional journalist covering the payments industry. Try PaymentCloud. See Who The Worst Processors Are. Some merchant account providers may offer high fees. Such a vendor can be a great help for your debt collector business. Merchant Card Advisors specializes in providing comprehensive merchant account services for high-risk businesses, including businesses in the debt collecting sector. They may require countless numbers of documents. Independent sales agents are often paid by commission and are therefore motivated to sign merchants to the most expensive contract terms they can. This means that we can offer rates that are a little bit cheaper than most other high-risk merchant account providers. I have proof of all deductions after I cancelled. I paid $99 for $1000 and for another $1000 i paid $119 it means more than 10% Merchant Mavericks ratings are editorial in nature, and are not aggregated from user reviews. Get your cash flowing again with our Merchant Cash Advance debt recovery solutions. 651-398-1636. That means we spend every day sharpening our tools and providing the know-how to efficiently resolve delinquencies and liquidate accounts. In addition to those 2 complaints, the company has received 58 informal reviews. The sales rep never returned my calls and is no longer with thw company. Keep up the excellent work Austin and thank for helping us through out the entire setup process. Early penalty for cancellation. I hope there will be a class action lawsuit and I plan to be a part of it. BEWARE OF THESE DOGS! You really leave your business account open to these guys with free access to do as they like. The risks related to your business will be assessed by underwriters. Learn more about dealing with debt collection at ftc.gov/debt. Looking for legal documents or records? Recently contacted The Merchant Solutions about a fee they charged me on my merchant account. That doesnt count the canclelation fee that coming up from them. The companys rating is also impacted by its higher-than-average complaint total with the BBB. When account underwriters are deciding the fees or terms for working with them, they will need to see the finances of your business. We have lowered the companys score in this section to a C to reflect this consistency. You may be surprised to know that this is one of the top reasons why smaller companies end up having to shutter their doors. Host Merchant Services is an ideal payment processor for new agencies operating in the debt collection industry. This means that you could, effectively, lose your ability to run your business. Cancellation take place 30 days after the day is cancel and tones of ridiculous fee charged during those 30 days. Do you feel like its the right time to start a collection agency? The company is headquartered at 22801 Ventura Boulevard Suite 300, Woodland Hills, California 91364. Before sharing sensitive information, make sure youre on a federal government site. The rating of this company or service is based on the authors expert opinion and analysis of the product, and assessed and seconded by another subject matter expert on staff before publication. Higher cost than explained in solicitations Youll first need to navigate the logistics of processing different customer payment types with different pieces of hardware. Our 24/7 customer support team is always on call to answer your questions and attend to your needs. This Post Might Help: Cancelling a Merchant Account Without Paying a Fee. Excellent provider for collection agencies with a strong eCommerce presence. Phillip Parker is an independent digital payment consultant specializing U.S. and Canadian point-of-sale, ecommerce, and mobile payment acceptance. This company, Merchant Solutions, is a fraud. What out business owners out there about this Merchant Solutions. TMS is a registered independent sales organization and member services provider (ISO/MSP) of Wells Fargo Bank, N.A., of Concord, California. Suggest you consider that Paymentech and many others do not charge this. Dont take their Free credit card machine or any of their so-called free equipment as they will charge you a $350 Restocking Fee when you try to close your account after you find out they are overcharging and ripping you off on credit card processing fees. However, pricing is not disclosed on either of those services. This means that our job is to reduce the risk of any transactions for the merchant bank. The second your merchant account closes down is the second that you are no longer able to accept payments for your company. Credit cards are prone to chargebacks and tend to be more expensive to process on a per-transaction basis than automated clearing house (ACH)/electronic fund transfer (EFT) payments. Signature not by me, computer generated. The worst company to do business with ever!!!! The second your merchant account closes down is the second that you are no longer able to accept payments for your company. when you cancel.Please take your business elsewhere. Still interested? Merchants can get more competitive contract pricing by instead going with a cheap merchant account provider. I foolishly fell for the lies that were fed to me by one of The Merchant Solutions(TMS)sales representative. As a debt collecting agency, opening a debt collection merchant account is the best thing you can do to improve your business cash flow and offer more payment options to your customers.. PaymentCloud helps merchants navigate the necessary steps to become PCI-compliant within 90 days and without charging a PCI compliance fee. WOW, I wish there is a -star to rate this company, when i first started using my pos, it kept taking the money i received from my clients to a different bank account in a different state, and it took them 3 months to fix this and get my money back. Telephone: (818) 409-6000. These customer chargebacks can make acquiring banks wary of approving merchant account applications from debt collectors. This means that you will be out of business. The market research firm IBIS World reports that the debt collection industry represented a $13 billion market in the US as of May 2013. To get a reliable and low-cost collection agency merchant account, you just need to turn to emerchantbroker.com. However, you need to hire a merchant debt collector account provider who offers merchant collection solutions that meet your company's needs.. To know the right provider, here are factors to consider when . What Debt Collectors & Collection Agencies Need To Know About Payment Processing, 6 Tips For Getting Your Collection Agency Merchant Services Approved. They will tell you that there are no hidden fees and no extra charges. If you stop using it, they still charge you a lot of fees. Although users may request an interchange-plus pricing plan, PayKings non-transparent pricing and early termination fees can actually work against up-and-coming collection agencies that may not have a consistent stream of revenue. Their customer service is simple horrible. These people called me for weeks and sent me all kinds of sales materials when my business started. Licensed Debt Collectors As applicants are approved consumers can look up and verify our licensed servicers' telephone number, email address, and website information through the Nationwide Multistate Licensing System (NMLS) Consumer Access ( www.nmlsconsumeraccess.org ). This Post Might Help: Cancelling a Merchant Account Contract Without Paying a Fee. 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. And it was my fault for not reading the fine print on the documents. The rule clarifies how debt collectors can communicate with you, including what information they're required to provide you. Thousand Oaks, CA 91362. My contract ends in January 2015 and I am looking forward to it. This is a business that is rife with fraud and chargebacks. All debt collectors track down past-due debts that businesses and consumers owe. These processors offer Quickbooks integration and have low rates. Merchant Mavericks ratings are not influenced by affiliate partnerships. Seeking to take them to court for their theft. Payment gateways offer an additional level of protection compared to virtual terminals by encrypting payment information before transmitting it to an acquiring bank. You could tell a collector to send a validation notice. We occasionally send out emails with special offers. Either the sales agent or someone at Merchant Solutions copied my contract changed the account numbers and other information to open a second account that involved a terminal. Garbage company. Debt collection abuses cause harms that financially vulnerable consumers can ill afford. That said, Host Merchant Services exclusively interchange-plus pricing plans may be cost-prohibitive for low-ticket and very new agencies. Home; Services Healthcare Services; Consumer Business Collections . 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. Our mission is protecting consumers and competition by preventing anticompetitive, deceptive, and unfair business practices through law enforcement, advocacy, and education without unduly burdening legitimate business activity. CardPaymentOptions.com, Inc. All Rights Reserved. per month so-called PCI-DSS Validation Fee , a $19 per month so-called Data Breach Security Program fee, plus kilobyte fees: fixed network CP Fee etc I immediately packed up their credit card machine and shipped it back to them with a written demand to close my account immediately. She said that I would need to submit an application in order to verify the discounts they were offering. This complaint total is somewhat high for a company as small as TMS, and it therefore merits a D grade in our opinion. close down your account. As a debt collecting agency, opening a debt collection merchant account is the best thing you can do to improve your business cash flow and offer more payment options to your customers. Their customer service is terrible, they are never reachable. Were dedicated to B2B debt recovery. The companys chargeback and fraud prevention assistance is a huge help to high-risk collection agencies and can go a long way toward making your customers more satisfied with your customer support systems and less likely to initiate chargebacks. 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. As is the case with our other top choices for debt collection merchant account providers, Soar supports systems for chargeback management and fraud prevention that can make or break the long-term success of any type of collection agency. 20+ Proven Bank Relationships Medium/High-Risk Accounts Fast Merchant Account Approval E-Commerce & Retail Options B2B Vendors Supported, Multiple E-Commerce GatewaysChargeback PreventionACH, E-Check, Credit CardsB2B Level 2/3 Data Discounts3D Secure Frictionless CheckoutMobile PaymentsEMV Readers, Gateway Recurring BillingVaultE-Commerce Cart PluginsPOS/TerminalsInternational Merchant AccountsDedicated Account Managers. Annual Fee $79.00 This was not in our contract, but I couldnt get the money back without suing them. They said they would beat my current rate but never could. PaymentCloud specializes in difficult-to-place merchant accounts for credit card processing. It isnt just the finances of your business that they pay attention to either. Screw this place I wish their was a way we could put them out of business. They round up everything, even when they shouldnt according to elementary mathematics! Min. They are thieves because they stole money from my account and wont make it right with me. Should have know. Phillip created this website and has written over 1,000 articles regarding all things payments. Suite 209 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. Milford, DE 19963. DigiPay Solutions has created a "Debt Collection Industry Primer" with important information about setting up a merchant account, controlling chargebacks, managing risk and keeping merchant accounts in good standing. Noah is a writer and content creator currently living in Fairfax, VA. After youve signed up, you than learn there are more charges and feel which they will auto-deduct from your merchant account without notification. Only. Do not believe anything they say about their service. HORRIBLE ! He was patient and knowledgeable and I am more than pleased with the assistance I receive from the Merchant Solutions. eMerchant Authority prides itself in being a leader when it comes to the provision of merchant account solutions. Use our visualizations to explore scam and fraud trends in your state based on reports from consumers like you. eMerchant Authority can help with this. If anyone has a better option please let me know. Look out for credit card processors who offer other merchant solutions that could be useful for your business. They are very rude and they will not correct the problem with me even though they said they would. Phone number: (302) 241-0686. This does not compare favorably to our list of best credit card processors. Find the resources you need to understand how consumer protection law impacts your business. The Merchant Solutions provides credit card, debit card, EBT, gift card, ATM, and check acceptance. This company and its employees are rude, I have been trying to cancel and they make it difficult. this will happen if you change to another company. DO NOT USE!!! It was revoked by State of TN. 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. 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. You can get your approval in as little as 24 hours. SAVE YOURSELF THE HEADACHE! Dont believe anything their salesman tells you on the phone as they will lie to you endlessly and then screw you later. The debt collection agency industry is one that grossed over $10.4 billion in 2013, domestically, collecting $55.2 billion in acquired debt, and these numbers just continue to grow with every passing year (approximately 15% each year since). Very shady business practices and a very deceptive sales process. We're Proud to Advance Cash to Business Owners Like You. $695 for early termination,$1500 programming fee, I have never hear of any company charging a programming fee. I got this straight but for the next several months they continued to charge me after 30 min of me wasting my time on the phone they refunded me, the next month charged me again. In addition to its support for merchants who may be on the TMF or MATCH List, Durango also works to prevent chargebacks in the future with multiple reputable anti-fraud services. If you think the bill is not yours, you could call the Attorney General in Tennessee at 615-741-3491. Our proven investigation tools help us create fast and effective debt recovery services. Even though some providers may appear to be a good fit for you at first, the best payment processors can satisfy your current business needs and grow with your future growth plans. Fax: (818) 707-7070. One The Merchant Solutions complaint mentions that TMS relies on Authorize.Net or PC Charge Pro for its online payment gateway; if this is the case, Authorize.nets payment gateway will be chargeda per-transaction fee of 2.90% plus $0.30 and a daily batch fee of $0.10 in addition to the $25 monthly gateway fee. This means that the process is fast. Additionally, merchants who sign up with TMS report finding themselves also committed to long-term equipment leases with early termination fees ranging from $350-$400. Payment plans, too, are transparent and predictable enough for even very small debt collection businesses to quickly parse through and understand. DO NOT use this company. Tayne Law Group is a New York-based debt resolution law firm that helps small business owners resolve debts of all sizes. The Signature page of the second contract is an EXACT COPY of the account I did open. 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. Comp Admin Fee $9.95 Exclusive Promo: PaymentCloud will give you $200 if they can't beat your current rate. The Merchant Solutions is definitely THE worst credit card company EVER!!!! For new business owners who place a particular focus on hands-on customer service, PaymentCloud offers dedicated account representatives available to you throughout the lifetime of your account. Beware, do not do business with merchant solutions. We can also provide the tools that you need to generate financial reports for any money passing through your merchant account. When you ready to cancel their services they hit you with ridiculous restocking fee and cancellation fee. From The Editor Im so glad I read these before making a huge mistake. I DO RECOMMEND THAT YOU DO NOT ATTEMPT TO USE THEIR SERVICES!! 1008 Mattlind Way. Any unauthorized copying and reproduction of the content of this page, including all meta data and computer code, is strictly prohibited. They constantly slip in unauthorized charges. Neither of these 2 complaints was resolved by the company to the satisfaction of the merchant. If so, you may be a victim of United Merchant Asset Recovery debt collection harassment. Getting paid to re-write this page? 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. Get the truth here. TOTAL SCAMMERS!!! Run, dont Walk, from the Hustler Con Artists at The Merchant Solutions. Dont give them, or their mother company, First Data, your business!!! Teaming with IVR Technology Group, we also provide pay-by-phone voice . They charged me $300 for what they called setup charges. Call us now on 877-700-5790 for further assistance. At this point, I am looking for a new processor . I signed up with another company, Triumph Merchant Solutions NOT this company yet this company has illegally debited my account without authorization. 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. PaymentCloud doesnt publically disclose its pricing on its website, which can make it more difficult for new collection agencies to accurately project their startup costs. I will NEVER consider using them again. I will continue fighting for their dishonest practice.Do not fall for Merchant Solutions,they are a ripoff company and have a false advertisement for the free machine which on Amazon sells for $250.00.and they charge $1000.00!! Click here to earn a reward. Note that we are not able to provide private consultations, give advice, or answer questions. if anyone do business with this scums be prepared to have a high blood pressure. Requirements: 600+ credit score, 12+ months in business and $100,000+ revenue. They may even have maximum limits to any transactions that you complete. Click here for more product information. Credit cards are, relative to ACH/EFT payments, more prone to chargebacks. Ex. Seriously they will destroy your business. You will not have enough time to do it, the machine terminal breaks all the time. Some processors have no monthly, no annual fees, no contract, and cheap rates. Youll get your merchant account for your collection agency in as little as 24 48 hours. 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. Different benefits and drawbacks that come with high-risk merchant account providers make it particularly tricky for new agencies to find a merchant account thats the right match for them. They dont deserve a BBB rating they suck!!!! She also helped us to file our annual PCI compliance saving us about $40 per month. There are a bit more than 9.000 businesses in the industry that employ over 150.000 people. I asked him his name and he refused to give it to me, the only reason I know it was Kurt is because I called back and another rep told me. JUST SAY NO. My request to talk to a supervisor and to review the contract I had supposely sign went unanswered. I wish I would have read some reviews before I sign up with these con artists. We work to advance government policies that protect consumers and promote competition. Debt collectors that are trained properly cannot act in a false or misleading manner in an effort to get you to pay. Austin Smith was very knowledgeable and helpful! I was skeptical and decided not to switch to merchant solutions. Take a few minutes to get comfortable with the process of choosing a provider for your debt collection agency and learn how to decide on a provider with minimal frustration. Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. 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. Credit Consulting Services, Inc. is an accounts receivable management firm that provides solutions for reducing bad debt and improving overall cash flow for businesses in Los Angeles, California. This post will help: Cancelling a Merchant Account Without Paying a Fee. They stealing $1000.00 dollars from my account. 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. Due to the risky nature of your business the typical bank wont deal with you. Find Loan Options For Your Small Business. A handful of debt collectors employ scare tactics such as calling debtors around the clock or harassing them in person for collections. PaymentClouds repertoire of POS solutions, card-present and card-not-present processing options, and focus on eCommerce makes it a great choice for both new and slightly more established debt collectors. No doubt necessary to achieve any success, as the sales person was barely literate. Stephanie T. Nguyen, Chief Technology Officer, Include spaces in matter number if applicable. The merchant account providers POS systems and card readers as well as its excellent integration capabilities are thankfully easy to navigate with a strong reputation for standout customer service. With our underwriting services in place, you can enjoy a much greater success chance of obtaining a merchant account with one of these banks. Debt Collection Agencies & Lawyers in New York If you received a court Summons and Complaint, or have been threatened with lawsuit for a consumer credit card account in the states of New York and New Jersey by one of the collection agencies below, or by one of their debt collection lawyers, contact us to learn your rights. Save yourself stress and aggravation and sign up with a different processor. Upon cancellation after over 4 years I returned the machine in good order. This post will help: How to Get Out of a Merchant Account Contract. Fraud protection should be high on the list of priorities for a debt collector of any size and type, and Durango is well-placed to handle instances of fraud that are common to the collections industry. I, like everyone else on this thread, was charged outrageous fees and then told that I cannot m leave my contract after it ended because it auto renews. Lets start with the salesman Daniel A. The following vendors dont currently make the cut for our list of best merchant account providers due to drawbacks like fees and rates, contractual obligations, and relative lack of products and services provided. There are a bit more than 9.000 businesses in the industry that employ over 150.000 people. These actions contribute to a negative public perception of the industry and demonstrate to some banks offering merchant accounts that the businesses in the collections industry are high-risk. If you do business with a debt settlement company, the company may tell you to put money in a dedicated bank account, which will be managed by a third party. This is Uncle Fried Chicken LLC, and The Merchant Solutions are scammers and dont follow their own contract rules. Our proven Merchant Cash Advance (MCA) default recovery solutions are proven to turn your delinquent accounts back into cash. Today they transferred $70 out of the bank account which now has been shut down over theyre crazy charges. THIS WAS A TOTAL LIE. Our experienced attorneys can help you come up with a strategy to deal with your debt while keeping your business running. Home (425) 643-2613 (800) 755-1107. The majority of Americans use loans, credit cards, lines of credit to pay for their lifestyles.

Annualized Endorsement Premium Calculator, Switchback Road Design, How To Control Dinosaurs In Jurassic World Evolution, Articles M