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. Every review above has happened to me too exactly like the above. They changed my contract, billed me a ton more without giving me an opportunity to opt out. I got the notification in the mail 2 FULL DAYS AFTER they had billed me. This means that you could, effectively, lose your ability to run your business. This company will be out of business in one year or less. Our services are secure and reliable. Signature not by me, computer generated. Debt Collections Merchant Account Solutions - eMerchant Authority Opinions expressed here are authors alone. The reason why most high-risk merchant account providers are so strict during their application process is because of the nature of the debt collection business. This is very dishonest company with deceptive business practices. Your business cannot opt for a standard merchant account here. Banned Debt Collectors | Federal Trade Commission To support this enormous responsibility we earn some of our revenue through affiliate fees and advertising. Suggestion to get rid of them is to block them from your bank account, thats how they suggested getting out of a current contract! Instabill offers credit card terminals albeit with little information concerning specific terminal models or features on its website. Merchant Solutions Group - Merchant Cash Advance | Working Capital Monthly Processing RangeUnder $1,000$1,000 - $5,000$5,000 - $25,000$25,000 - $50,000$50,000 - $100,000Over $100,000. PaymentCloud specializes in difficult-to-place merchant accounts for credit card processing. Withdrew $900 from my account and told me that it was a $400 termination fee and $500 for the keypad. The sales rep never returned my calls and is no longer with thw company. As you're checking out a debt collection call, remember: don't respond to threats. Excessive chargebacks are relatively common to the collections industry, so merchant account providers that service high-risk businesses like collection agencies should offer features such as payment gateways with fraud detection tools that minimize the long-term damage done by fraudulent chargebacks. Worse company ever. They really do not want to do this. They charged me $300 for what they called setup charges. This is why when you partner with us you also enjoy transparent pricing with no long-term contracts or hidden fees. Not much, but still more than disclosed. Its a TOTAL SCAM! eMerchant Authority operates an in-house underwriting team. If you want to ensure that applying for debt collection merchant accounts goes as smoothly as possible, then you need to work with experts like us here at eMerchant Authority. What out business owners out there about this Merchant Solutions. A full point-of-sale (POS) system in one sleek package. Austin Smith was very knowledgeable and helpful! What are debt settlement/debt relief services and should I use them? However, you need to hire a merchant debt collector account provider who offers merchant collection solutions that meet your companys needs. 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). Before sharing sensitive information, make sure youre on a federal government site. The merchant service provider should also be transparent about the requirements of working with your business and the circumstances under which they would terminate the contract. I would have never ever sign up for such a service, if the salesperson would mentioned this info to me. The .gov means its official. 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. Do not get trap by this company. Note: We have adjusted this companys BBB rating according to our own standards. The path toward getting your collection agency off the ground is rife with hurdles that take the form of legal obligations, a complicated and sometimes bleak industry reputation, and the constant risk of interruption to your businesss revenue. Ex. Fast turnaround: as little as 1-2 days. Since 2017, Noah has worked for federal, state, and commercial clients as a proposal writer, technical writer, copywriter, and analyst. Copyright 2023 eMerchantBroker, LLC. Virtual terminals let business owners access a secure web page to process their customer payments with a built-in dashboard thats similar to a physical card reader. Check out our complete list of High-Risk Merchant Account Reviews for more traits that other top-performing high-risk specialists have in common. You almost certainly will not be able to work with companies like PayPal. 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. Neither of these 2 complaints was resolved by the company to the satisfaction of the merchant. Offers automated account application and custom quote processes. We appreciate it. Both were resolved to the dissatisfaction of the merchant or received no final response. I have filed a complaint with the bbb and am probably going to get a attorney to get my money back. If you would like to interview Phillip for your story or podcast, please reach out here. Problems logging in? Look out for credit card processors who offer other merchant solutions that could be useful for your business. 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. Some merchant account providers may offer high fees. We have located one complaint online claiming that TMS is a reseller of Global Payments contracts, but we were unable to verify this claim as of this update. That said, rather than try to sign you up for an overpriced equipment lease, Durango offers terminals, PIN pads, and mobile card swipers for direct sale on its website, and its payments gateway is a proprietary product. 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. Learn more about our monetization policies here. When we both know its theirs! Debt Collection Merchant Services - Merchant Card Advisors Certain payment gateways services support ACH payments and may be included as part of a payment processors list of basic services. Debt Collectors List | NY Debt Collections List Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services. As a debt collection agency is a high risk merchant due to the increased chances of fraud or chargebacks, Merchant Processing Advisors can find merchant . Debt Collection | Federal Trade Commission FTC Staff. I am still waiting on on calls from their supervisors from last year. You can get your approval in as little as 24 hours. Whether you're looking to save money on processing or to get approved for a merchant account, PaymentCloud can help. I hope there will be a class action lawsuit and I plan to be a part of it. 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 company, Merchant Solutions, is a fraud. Dont sign up or you will regret it at the end. Has representatives that open fradulent accounts. I left MerchantSolutions a number of months ago, even though it cost me remaining monthly fees until my contract expires. DONT BELIEVE IN ANYTHING THEY SAY ALL LIES AND FRAUD!!! Are you with The Merchant Solutions? Don't Fall Into An Expensive Trap. When I wanted to cancel they wouldnt send me the cancellation form for weeks. 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. 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. These companies and people are banned, by federal court orders, from participating in the business of debt collection. Independent sales agents are often paid by commission and are therefore motivated to sign merchants to the most expensive contract terms they can. when you cancel.Please take your business elsewhere. Not an existing MeS Virtual Terminal User? When you choose us, youre not just getting back your assets. When account underwriters are deciding the fees or terms for working with them, they will need to see the finances of your business. Owe CFG Merchant Solutions? Learn More Here - Tayne Law Group When banks determine a businesss risk status, they consider that businesss complete history of chargebacks. No mention of 3 year contract and no proof of it. Here are other additional benefits that you receive when you apply for an internet merchant account with eMerchant Authority. Login - vt.merchante-solutions.com eMerchantBroker.com. EMB is voted the top high risk processor in the US and has an A+ rating with the BBB. The company has a higher-than-expected number of complaints for its apparently small size, and the contract terms that we have seen reported for this company arent especially competitive, especially when compared to the best overall credit card processors. This company and its employees are rude, I have been trying to cancel and they make it difficult. 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. Help us to improve by providing some feedback on your experience today. With our underwriting services in place, you can enjoy a much greater success chance of obtaining a merchant account with one of these banks. Of course, we will provide you with all of the tools that you need to process payments. I was to have 1 account with Merchant Solutions ! If you want to pay unregulated fees like a $9.99 a month regulatory fee and a $6.95 monthly data insurance fee and a $150.oo yearly anuall PCI FEE this is the processor for you.. Merchants Solution Group | Better Business Bureau Profile This means that you will need both a payment processor and a merchant account. High-risk specialist Durango Merchant Services ability to place accounts for merchants with histories of excessive chargebacks is invaluable to new collection agencies. I would not recommend TMS to my worst enemies. dont believe what they tell you They round up everything, even when they shouldnt according to elementary mathematics! Agree with our rating?Tell us about your experience with The Merchant Solutions in the comment section below. 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. Early penalty for cancellation. YOU WILL BE SORRY! We have focused on merchant cash advances over two decades. We ordered their smartphone credit card processor and found that their application was incompatible with our phone we couldnt use it so decided to return product and cancel service. The Fair Debt Collection Practices Act expressly prohibits debt collector conduct meant to "harass, oppress or abuse" you to collect on a debt regardless of whether you owe the debt or. Annual PCI Fee $99.00 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. I didnt understand the fees so I called them and asked them to give me the run down of EVERYTHING on the fees page and was told just the requirements the gateway fee they said wasnt in the contract because its a regular thing with all processors. The salesperson on the phone neglect to inform me of a cancellation service fee of $900.49 Now illness has caused me to lose my merchant tax ID. 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. Seriously they will destroy your business. I have no other choice than to seek legal action against Merchant Solutions and/or the agent that opened up a second account with forged/copied paperwork. There is also $395 restocking fee, and $550 reprogram fee when you have to return their pin pad. 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. Annual Fee $79.00 The Merchant Solutions provides credit card, debit card, EBT, gift card, ATM, and check acceptance. Debt Collection Agency Merchant Account - PayKings 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 light of the companys complaint total and resolution ratio, we have adjusted the BBBs rating to a C for the purposes of this review. 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. They even familiarize you with techniques and systems that keep customers satisfied and less likely to initiate chargebacks. High-risk specialist with anti-fraud and anti-chargeback protections. Due to the risky nature of your business the typical bank wont deal with you. Ray Siddiqui of TMS told me if I return the keypad, he would refund the $500 and 2 months of fees at $35/month. 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. Call 1-888-288-2692. Click here to earn a reward. You will be far too high of a risk to work with. I didnt fill out anything to open OR close the account and today was hit with $495 fee. All they want is your money. Some processors have no monthly, no annual fees, no contract, and cheap rates. 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. Phone number: (302) 241-0686. They need to see whether you have run into any issues previously, particularly when it comes to chargebacks. I paid $99 for $1000 and for another $1000 i paid $119 it means more than 10% Its website can be hard to use as well. They also debited my account for $395.00 for a cancellation fee even though I cancelled my account 4 months after my contract was over!!! Which Collection Agency Merchant Account Is Right For My Business? Disclaimer: Merchant Maverick aims to provide accurate and up-to-date information to assist you in your research. The market research firm IBIS World reports that the debt collection industry represented a $13 billion market in the US as of May 2013. Before You Switch Processors, Find Out How Other Businesses Got Fee Refunds From Their Current Processor. Any and all use of trade names and/or marks are for identification purposes only and shall not be construed as a claim of affiliation, or otherwise, with CardPaymentOptions.com, Inc. ("CPO") in any form. MerchantBroker is a registered ISO/MSP of BMO Harris Bank, NA, Schaumburg, Illinois. Get your cash flowing again with our Merchant Cash Advance debt recovery solutions. A lot of other company with no contract and fees to work with out there. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations. Their charges are exhorbitant. We have lowered the companys score in this section to a C to reflect this consistency. This field is for validation purposes and should be left unchanged. 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. Banks consider collection agencies as high-risk for several reasons, the first of which being the sometimes-negative public perception of the debt collection industry. 1008 Mattlind Way. I have proof of all deductions after I cancelled. Same situation. If they cannot claim the money back from the seller, then the merchant account provider will have to pay these fees. Merchant Card Advisors specializes in providing comprehensive merchant account services for high-risk businesses, including businesses in the debt collecting sector. Maintaining these ratios is challenging for merchants in many industries. All feedback, positive or negative, helps us to improve the way we help small businesses. service provider that has expertise in high-risk merchant A business that accepts credit cards for goods or services. 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. Try PaymentCloud. Still interested? Opens accounts with terms not agreed to. 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. Learn more about your rights as a consumer and how to spot and avoid scams. they hurt me by taking un authorized money out of my account Teaming with IVR Technology Group, we also provide pay-by-phone voice . 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. My company is a small business that processes $200000.00 a year with this processor,,I have the right to question a fee But KURT didnt think so.I have contacted MS on other occasions and received less than favorable customer service. Debt Collection Agency Merchant Account| Fast Approval *Rates quoted as the % above normal card interchange costs, dues, fees, and assessments. 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. They are beyond shady and dont care at all about customer service!!! If you have already signed up with them, get out fast. My contract ends in January 2015 and I am looking forward to it. 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. Very rude on phone, does not care about you as a customer. If your company does not show any indication that you conform to this act, then your application will be outright rejected. Although their websites navigability can be clunky, PaymentClouds history of few public complaints and excellent track record for customer support suggest that overall, it is a helpful and easy-to-work-with payment processor. They may even have maximum limits to any transactions that you complete. Horrible company. Essentially, they steal from the customer. Since debt collection merchants are considered high risk, traditional banks and other financial institutions usually try to stay away from this type of businesses. We are not being charged an ADDITIONAL $159.90 (received bill in the mail) with no explanation of what the fee (s) is for. 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. Higher cost than explained in solicitations 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. Ideal for collection agencies with a history of excessive chargebacks. 2985 E. Hillcrest Drive Were never worried about our overdue receivables. said no business ever. Debt collection businesses should partner with a merchant A business that accepts credit cards for goods or services. Weve resolved overdue accounts for clients without damaging customer relationships. Fortunately, there are providers willing and able to help. Collection agencies that process mostly credit card payments should keep an eye out for merchant account providers that support virtual terminals. If you have your own The Merchant Solutions review to make, please do so in the comments below. Merchant Solutions retail credit card processing solutions allow merchants to offer flexible methods of payments at the point-of-sale, including major credit cards, debit cards and checks. Instead, you need to search for high-risk merchant accounts. Under federal law, a debt collector must send you a written validation notice within five days after they first contact you. This means that the process is fast. Suite 209 They charge you all kinds of fees which your not told about. They never have any answers and are only looking for ways to disconnect you. This means that your company can process debit and credit card transactions, and it will do this for an affordable price. Keep up the excellent work Austin and thank for helping us through out the entire setup process. Zero star rating, they are big time scam He is very knowledgeable and provided excellent support. Monthly Processing Range Then they sent me a replacement machine that I had absolutely no use for; they actually sent me the wrong machine and billed me for it. 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. Home - Merchant Solutions LLC Soar offers an automated application process online that takes minutes to complete and provides merchants with a quote after the fact. 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. Debt collectors that typically process credit card payments rather than alternative transactions such as ACH payments should nevertheless choose a payment processor that supports options for electric check processing and fraud detection. She also helped us to file our annual PCI compliance saving us about $40 per month. And particularly so for debt collectors due to the consumer demographic of debtors. 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. 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 will close down your account. Which Collection Agencies Will Accept a Pay For Delete Agreement? Get Started With Durango Merchant Services. I was told by a company Rep, Ray Siddique, that there will not be any hidden fees or cancellation fees ever, and they will offer the best lowest deal. BEWARE OF THESE DOGS! 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. Due to the unique processes that eMerchant Authority has in place, the risk of a chargeback is low. I tried to cancel but they said when I signed up it would automatically renew for two years and I could not cancel for another year. 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. There are a bit more than 9.000 businesses in the industry that employ over 150.000 people. Exclusive Promo: PaymentCloud will give you $200 if they can't beat your current rate. this will happen if you change to another company. 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. The Merchant Solutions provides credit card, debit card, EBT, gift card, ATM, and check acceptance. Ensure you understand the contract terms and all the costs involved with the credit card payments before you sign the contract.
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