See Who The Worst Processors Are. If so, you may be a victim of United Merchant Asset Recovery debt collection harassment. I agreed to pay back the money that was owned. eMerchantBroker can . 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. Garbage company. The sole purpose of the material presented herein is to alert, educate, and inform readers. 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. Such a vendor can be a great help for your debt collector business. Debt Collection | Federal Trade Commission They will tell you that there are no hidden fees and no extra charges. Whether you're looking to save money on processing or to get approved for a merchant account, PaymentCloud can help. Problems logging in? The merchant solutions is the most horrible company I have ever dealt with. So not only was I billed WITHOUT my consent, but then they refused to refund more than half. Screw this place I wish their was a way we could put them out of business. Instabill offers credit card terminals albeit with little information concerning specific terminal models or features on its website. Many other high-risk merchants are notorious for offering card readers and monthly gateway fees, but Durango helps new collection agencies set themselves up for affordable success by making its hardware directly for sale online. We may earn revenue if you obtain services from a provider that we recommend. I hope there will be a class action lawsuit and I plan to be a part of it. It only makes sense then that the best collection agency merchant account providers offer processing options for multiple payment types and a reliable system to fight chargebacks and fraud. That said, Host Merchant Services exclusively interchange-plus pricing plans may be cost-prohibitive for low-ticket and very new agencies. The Merchant Solutions is a fraud, it is an unprofessional, unethical company simple looking to scam anyone who falls for their lies. They need to see how strong your profits are. Collection agencies that process mostly credit card payments should keep an eye out for merchant account providers that support virtual terminals. MCA is a premier full-service debt collection agency, providing successful debt management solutions with integrity since 1937. Processing statements are intentionally complicated so that they can overcharge you. These people are the biggest crooks Ive ever encountered. The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. The salesperson on the phone neglect to inform me of a cancellation service fee of $900.49 Merchant Cash Advance Debt Collection Services | Monetaria Don't Fall Into An Expensive Trap. 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. The Best Merchant Accounts For Collection Agencies & Debt Collectors. 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. Looking For One Of These Merchant Accounts For Collection Agencies? 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. Phone number: (302) 241-0686. Fake and Abusive Debt Collectors | Consumer Advice the name of the creditor you owe it to. Seriously they will destroy your business. They said they would beat my current rate but never could. All feedback, positive or negative, helps us to improve the way we help small businesses. Neither of these 2 complaints was resolved by the company to the satisfaction of the merchant. 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. It is worth noting that being a high-risk company does not mean that your application for a merchant account will always be rejected. I wish I would have read some reviews before I sign up with these con artists. 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. Your Merchant Cash Advances help commercial businesses succeed. 53 of these reviews are positive, while the remaining 5 reviews are negative. For this reason, they are often linked to high complaint totals. He is very knowledgeable and provided excellent support. Click here to earn a reward. I will make sure this is my last time using this company. These customer chargebacks can make acquiring banks wary of approving merchant account applications from debt collectors. 844-66-CFGMS (844-662-3467) Not much, but still more than disclosed. If anyone has a better option please let me know. This means that you will need both a payment processor and a merchant account. This is very dishonest company with deceptive business practices. Their charges are exhorbitant. Opens accounts with terms not agreed to. TMS offers a dedicated support phone line and an email form on its website. 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. Both were resolved to the dissatisfaction of the merchant or received no final response. In some cases, this leads to merchants contracting with debt collection agencies. What Is A POS System & Choosing The Best For Your Business, Discover The Best Business Credit Cards In 2023, Best Business Credit Cards For Your Nonprofit Organization, Explore Business Credit & Banking Resources, How Signing a Personal Gurantee Affects You. The company never disclosed high fees , fees for not taking a test, and excessive closing fees. Due to the high-risk nature of your business, most merchant account providers will ask you to jump through hoops if you want to work with them. Learn more about your rights as a consumer and how to spot and avoid scams. Call us now on 877-700-5790 for further assistance. Also even though I had cancelled in June, in July they also charged PCI compliance of $99.00 when I did not even process with them. The Merchant Solutions 2023: Reviews & Complaints - CardPaymentOptions.com You could tell a collector to send a validation notice. The chargeback will be made against their account. 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. Credit card processing for debt collection agencies Several complainants outright accuse the company of being a ripoff or a scam operation. Seattle Collection Agency | Merchants Credit Association 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. 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. 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. 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. Location & Ownership On November 30, 2021, the Debt Collection Rule became effective. You almost certainly will not be able to work with companies like PayPal. Debt Collection Agency Merchant Account| Fast Approval After youve signed up, you than learn there are more charges and feel which they will auto-deduct from your merchant account without notification. Once the application process starts, we will find the best merchant account for you. We occasionally send out emails with special offers. Learn more about our monetization policies here. An official website of the United States government. Only. Click here for more product information. This means that your company can process debit and credit card transactions, and it will do this for an affordable price. Banned Debt Collectors | Federal Trade Commission (800) 228-0210 Technical Support, The Merchant Solutions also offers a customer service email at [emailprotected]. Min. Do not give them your business. The job of the business, however, is to ensure that they have processes in place to keep this risk down to the absolute minimum. 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. 1008 Mattlind Way. PayKings, although a high-risk specialist, ironically exacerbates issues with reliable streams of revenue that are common to the debt collection industry. Its range of POS systems and card readers provide solutions for both card-present and card-not-present payment processing, which creates flexibility for various collection agency types. This company, Merchant Solutions, is a fraud. 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. They would take their sweet time to deposit my earnings but would immediately make unauthorized withdraws, even after my account had been closed. So then I cancelled and they charged me a $945 restocking reprogramming fee? I have proof of all deductions after I cancelled. MerchantBroker is a registered ISO/MSP of BMO Harris Bank, NA, Schaumburg, Illinois. They may even have maximum limits to any transactions that you complete. Some processors have no monthly, no annual fees, no contract, and cheap rates. They have been lying to me since day 1 of signing up with them. Provider of affordable payment processing hardware that can streamline various debt collection operations. This means that we can offer rates that are a little bit cheaper than most other high-risk merchant account providers. Although Soars $495 early termination fee (for some accounts) may be steep, the termination fee is voided after the initial contract period. The market research firm IBIS World reports that the debt collection industry represented a $13 billion market in the US as of May 2013. Here are other additional benefits that you receive when you apply for an internet merchant account with eMerchant Authority. Worse company ever. Whatever type of debt collection your business operates in, we are confident that we can find a high-risk merchant account for you. 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. Forgotten Password? Home - Merchant Solutions LLC No doubt necessary to achieve any success, as the sales person was barely literate. They have terrible reviews on google and many many complains on BBB. How to look up licensees and those debt collectors allowed to do 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. 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. 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. 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. eMerchant Authority specializes in merchant accounts for high-risk businesses; this includes debt collection agencies. I would recommend not to do business with this company. I was told thay my rates would be as low as 1.5%. This company will be out of business in one year or less. I think I was the set up by Merchant Solutions. The rule clarifies how debt collectors can communicate with you, including what information they're required to provide you. 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. This was not in our contract, but I couldnt get the money back without suing them. Every review above has happened to me too exactly like the above. Excellent provider for collection agencies with a strong eCommerce presence. Agree with our rating?Tell us about your experience with The Merchant Solutions in the comment section below. dont believe what they tell you This company should not be allowed to do business. Its important to be able to connect with a real person on the phone. Some of these limitations can be pretty tough on a business, particularly in their early days. Annual Fee $79.00 Which Business Bank Account is Right For You? The second your merchant account closes down is the second that you are no longer able to accept payments for your company. I am looking to upgrade 4 of my restaurants systems. Certain payment gateways services support ACH payments and may be included as part of a payment processors list of basic services. Under federal law, a debt collector must send you a written validation notice within five days after they first contact you. Were never worried about our overdue receivables. said no business ever. They are charging me a huge fee to cancel. I got a shock when they deducted total of $1000.00 from my account in 4 payments. The second your merchant account closes down is the second that you are no longer able to accept payments for your company. Today was the last straw which we really been shut down since April over covid19. All they do is to get you sign up the contract, but be sure to read the fine print on auto renew, they will auto renew you into another contract even their machine never works. 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. 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. When you should have paid 1.62. eMerchant Authority can help with this. High-risk specialist Durango Merchant Services ability to place accounts for merchants with histories of excessive chargebacks is invaluable to new collection agencies. In addition to those 2 complaints, the company has received 58 informal reviews. Weve been hit with so many fees that are hidden and that they deduct for no unknown reason as they do not tell you before hand. This post will help: How to Get Out of a Merchant Account Contract. The majority of Americans use loans, credit cards, lines of credit to pay for their lifestyles. PCI Non-Cpmpliance. 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. They dont deserve a BBB rating they suck!!!! You may be charged fees for using this account. Weve resolved overdue accounts for clients without damaging customer relationships. While the process for applying for a merchant account with us is not instant, we have been doing this a long time. Horrible company. We enforce federal competition and consumer protection laws that prevent anticompetitive, deceptive, and unfair business practices. Do not believe anything they say about their service. I am still waiting on on calls from their supervisors from last year. 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. It took me 2 weeks of calling NON-STOP to get any response. This is why we want to help you get the right debt collection merchant account from the very start. Recovery Solutions Group, LLC (RSG) Contact Information. 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. He has a BA in Creative Writing and a Minor in German from Goucher College. Our integrations connect you with the best tools for your business. Of course, we will provide you with all of the tools that you need to process payments. 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. Square is a top choice for POS for any type of business. SAVE YOURSELF THE HEADACHE! Save yourself stress and aggravation and sign up with a different processor. When banks determine a businesss risk status, they consider that businesss complete history of chargebacks. Spot the latest COVID scams, get compliance guidance, and stay up to date on FTC actions during the pandemic. That means we spend every day sharpening our tools and providing the know-how to efficiently resolve delinquencies and liquidate accounts. The Merchant Solutions then hit me with a new $99 a year for a so-called PCI Compliance Program charge, a $35. 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. Youll need a robust suite of hardware and services to accept payments online and over the phone, if so. These merchant account providers offer high-risk businesses like collection agencies a square deal when it comes to payment processing. Avoid this outfit as they will make your life miserable. Search the Legal Library instead. Since I have tried to cancel with them and agreed to pay them whatever fee I can to get rid of them (which was not in my contract I signed), they are now telling me their equipment I returned is not theirs so that I cant cancel or Ill have to pay more than the equipment cost for losing it and again because I already paid for it! services due to the high risk associated with debt collection businesses. AFNI Collections Agency Mailing Address: PO Box 3097Bloomington, IL 61702-3427 Phone: 866-352-0479 PFD: Yes https://www.afnicollections.com/ Alacrity Collections Corp. 1-800-355-2221 PFD: Unknown Aldous & Associates (1) 385-388-8005 PFD: Unknown All Debt Solutions, Inc. (774) 804-3328 PFD: Unknown Copyright 2023 eMerchantBroker, LLC. They constantly slip in unauthorized charges. I attempted to cancel my contract and they are trying to hit me with over $1000 in last min charges. This form is for feedback only. 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. They are awful and very dishonest do not use them. If your company does not show any indication that you conform to this act, then your application will be outright rejected. High-risk specialist with anti-fraud and anti-chargeback protections. Whether youre a startup or an established business, you can count on us to provide you with a perfect merchant service solution with the latest hardware and software tools such as Clover systems that are perfect for your retail payment needs. Sequoia Financial Services - 2021 Ideal for collection agencies with a history of excessive chargebacks. 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. Start by leaving a comment at the end of this review, Compare Top Rated Processors: Compare Rates, Reveal your hidden fees: Audit Your Statement, Working in merchant services: Our Free Guide. Since these banks know and trust the quality of our services, they will be able to trust you too. Merchants Solution Group | Better Business Bureau Profile EMB serves both traditional and high risk businesses, and has already helped thousands of hard-to-approve merchants to get the best for their business. Read more below to learn why we chose these options. Numerous calls went straight to voicemail without any return calls. i signed up a few weeks ago and havent been able to get into contact with them since. 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. 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. This means that our job is to reduce the risk of any transactions for the merchant bank.
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