53 of these reviews are positive, while the remaining 5 reviews are negative. I attempted to cancel my contract and they are trying to hit me with over $1000 in last min charges. I signed up with another company, Triumph Merchant Solutions NOT this company yet this company has illegally debited my account without authorization. Their disclosure pricing on cancellation of service was not mentioned to me when I was docusigning the paperwork via Internet. If you hear from them just Run!!! The collector has to tell you four pieces of information. 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. DONT BELIEVE IN ANYTHING THEY SAY ALL LIES AND FRAUD!!! eMerchantBroker.com. These revenues in no way influence our ratings or reviews. This means that you will be out of business. TMS offers a dedicated support phone line and an email form on its website. i signed up a few weeks ago and havent been able to get into contact with them since. 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. Run, dont Walk, from the Hustler Con Artists at The Merchant Solutions. When you choose us, youre not just getting back your assets. We occasionally send out emails with special offers. That said, Host Merchant Services exclusively interchange-plus pricing plans may be cost-prohibitive for low-ticket and very new agencies. Fortunately, there are providers willing and able to help. Toll free: (888) 544-9711. We appreciate it. This means that our job is to reduce the risk of any transactions for the merchant bank. VERY RUDE AND UNPROFESSIONAL.THEY ARE TRYING TO BLIND SIDE THEIR CUSTOMERS AND ROB THEM OF THEIR MONEY. They dont deserve a BBB rating they suck!!!! Ideal for collection agencies with a history of excessive chargebacks. Do not believe anything they say about their service. From The Editor They have been lying to me since day 1 of signing up with them. These are all fees that were started 8 months into my contract. Don't Fall Into An Expensive Trap. 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. They may require you to constantly have reserve cash in your account. Youll get your merchant account for your collection agency in as little as 24 48 hours. Phillip created this website and has written over 1,000 articles regarding all things payments. (800) 228-0210 Technical Support, The Merchant Solutions also offers a customer service email at [emailprotected]. Home (425) 643-2613 (800) 755-1107. Whats more, the debt collection industry is regulated by federal authorities including the FDCPA and CFPB, and is subject to legal requirements that vary on a state-by-state basis. I got a shock when they deducted total of $1000.00 from my account in 4 payments. When an account like a credit card, auto loan, or cell phone bill becomes past due, the original creditor may attempt to collect the amount owed. 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. You could tell a collector to send a validation notice. Get the truth here. They will tell you that there are no hidden fees and no extra charges. You should double-check with the service provider/financial institution directly as well as obtain independent financial advice prior to making any financial commitments or business decisions. We were charged a $350 restocking fee after being told there would be NO FEES. They Rip you off way more than wat they told you they would charged. Square is a top choice for POS for any type of business. Best Collection Agency Merchant Accounts For 2023 - Merchant Maverick When people stop paying, unpaid debts are sent to collection agencies These agencies go after debtors to recover the money for banks and creditors. 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? The Merchant Solutions offers a variety of e-commerce services, Audit Your Current Statement To Find Its Hidden Fees. 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. Example: If you have a sale that is then multiplied by the discount rate, and it comes out to 1.62222, you will pay them 1.63. Working with a debt settlement company may lead to a creditor filing a debt collection lawsuit against you. Swipe credit cards securely by implementing PCI compliant payment solutions. 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. Merchant Card Advisors specializes in providing comprehensive merchant account services for high-risk businesses, including businesses in the debt collecting sector. The debt collector refers to themselves as an investigator, or that they will contact the investigator on your case. 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. Ex. Merchant Mavericks ratings are not influenced by affiliate partnerships. 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. Their customer service is terrible, they are never reachable. A lot of other company with no contract and fees to work with out there. If anyone has a better option please let me know. Needless to say, I immediately sent the keypad and tracking revealed they received it in 3 days. They have terrible reviews on google and many many complains on BBB. Instead, Go with Square, go with Chase, go with Costco Elavon, go with Paypal, or any of a dozen other reputable credit card processing companies but please, dont make the same mistake i did Avoid The Merchant Solutions at all costs. These people are the biggest crooks Ive ever encountered. MERCHANT SOLUTIONS GROUP OPENS DOORS Business owners need capital to grow and manage their companies. We can help your collection agency even if you've you been turned down by service providers in the past. They actually added 19 pages to our contract virtually and said we signed them 1 1/2 years after signing the original. Help with PCI compliance is a godsend for businesses that operate in the highly regulated collections industry. Both were resolved to the dissatisfaction of the merchant or received no final response. Debt Collection | Federal Trade Commission 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. They will not return my phone calls now. If your company does not show any indication that you conform to this act, then your application will be outright rejected. Sign up today and get a free card reader! This Post Might Help: Best Restaurant Merchant Accounts. And particularly so for debt collectors due to the consumer demographic of debtors. The Merchant Solutions provides credit card, debit card, EBT, gift card, ATM, and check acceptance. The merchant solutions is the most horrible company I have ever dealt with. They are crooks. This is very dishonest company with deceptive business practices. Find Loan Options For Your Small Business. 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. This company is deceitful. 651-398-1636. They use the guise that they are affiliated with Wells Fargo, but a call to Wells revealed that they never heard of TMS because Wells owns their own merchant company. Additional rates and fees, including a technical support fee may apply. What Consumers Should Do When Fake Debt Collection Scammers Call. Sequoia is located in the Agoura Gateway at: Agoura Hills, CA 91301. 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. This post will help: Cancelling a Merchant Account Without Paying a Fee. I had joined Merchant Solutions because they told me there is no contract and no charge for the machine. Were dedicated to B2B debt recovery. My request to talk to a supervisor and to review the contract I had supposely sign went unanswered. The market research firm IBIS World reports that the debt collection industry represented a $13 billion market in the US as of May 2013. 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! To support this enormous responsibility we earn some of our revenue through affiliate fees and advertising. That doesnt count the canclelation fee that coming up from them. Our integrations connect you with the best tools for your business. On the downside, Durango doesnt disclose its pricing plans to the public on its website, which can be frustrating. Get Started With Durango Merchant Services. This means that you will be out of business. The collections industry demands compliance with federal and state-level regulations, and payment processors should be able to facilitate easy compliance for debt collectors. Then to my horror these con-artists actually refused to close my account and continue to send me monthly bills to this day. Specialized account support for multiple collection agency types. John in Customer Service was wonderful today with assisting me with the set up for my new Walker Bluetooth. I am looking to upgrade 4 of my restaurants systems. Click here to earn a reward. 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Suggestion to get rid of them is to block them from your bank account, thats how they suggested getting out of a current contract! And because customer satisfaction is what we aim for, we offer ongoing support to all our customers. I was told thay my rates would be as low as 1.5%. Withdrew $900 from my account and told me that it was a $400 termination fee and $500 for the keypad. 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. This company hires predatory sales people, arent up front about fees and raped my bank account. Problems logging in? Were never worried about our overdue receivables. said no business ever. There are a bit more than 9.000 businesses in the industry that employ over 150.000 people. Sending Chargebacks to Debt Collection 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). You really leave your business account open to these guys with free access to do as they like. CardPaymentOptions.com, Inc. All Rights Reserved. MerchantBroker is a registered ISO/MSP of BMO Harris Bank, NA, Schaumburg, Illinois. A powerful, two-screen point of sale (POS) system that allows merchants to run their business . 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. This includes debt collection companies and debt buyers. If so, you may be a victim of United Merchant Asset Recovery debt collection harassment. close down your account. 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. Durango combats consumer-related fraud with anti-fraud protections such as Verified by Visa, Mastercard SecureCode, Fraud Scrubbing, and EMV 3d Secure 2.0. Min. Just ridiculous! Read more below to learn why we chose these options. Due to the risky nature of your business the typical bank wont deal with you. The salesperson on the phone neglect to inform me of a cancellation service fee of $900.49 The majority of Americans use loans, credit cards, lines of credit to pay for their lifestyles. Many may find PaymentClouds organization of products on its website to be less than navigable. In addition to those 2 complaints, the company has received 58 informal reviews. 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. If your business has been turned away and you need to process credit card payments, you can turn to a reputable merchant account provider like emerchantbroker.com. Also that free terminal will cost you $350 when you try to cancel the account. The Signature page of the second contract is an EXACT COPY of the account I did open. Payment gateways transmit data between an agencys point of transaction and the receiving payment processor. SAVE YOURSELF THE HEADACHE! Copyright CardPaymentOptions.com, Inc. (Digital Fingerprint: 0d38c6720f0d78a701b74d58653af608). Use our visualizations to explore scam and fraud trends in your state based on reports from consumers like you. The Merchant Solutions, founded in 1999, is a small merchant account provider based in Woodland Hills, California. 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. Copyright 2023 eMerchantBroker, LLC. Learn more about our monetization policies here. They, by their own admission, billed me for numerous new and unauthorized charges that were not in my contract, and then sent me an opt out form 2 FULL DAYS AFTER the charges cleared, and refused to refund my account or cancel my service in light of their unscrupulous activity. Merchant Cash Advance Debt Collection Services | Monetaria Consider the following points to more easily smooth over your application process for a collection agency merchant account: Business owners starting new collection agencies or even expanding existing ones need merchant account providers that minimize the stresses that come with the debt collection industry, not exacerbate them. Debt Collectors List | NY Debt Collections List 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. 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. Their charges are exhorbitant. Fake and Abusive Debt Collectors | Consumer Advice They refuse to refund the money. If you can get one who has worked with businesses in the debt collection industry, the better. And it was my fault for not reading the fine print on the documents. Higher cost than explained in solicitations Get Your Quote. 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. New York, NY 10038. So then I cancelled and they charged me a $945 restocking reprogramming fee? Today was the last straw which we really been shut down since April over covid19. CFPB accused Encore Capital Group and Portfolio Recovery Associates Inc. of misleading and harassing consumers, which led . For this reason, they are often linked to high complaint totals. My company is no longer doing business and I have not used the machine in 6 months. Memo from Chair Lina M. Khan to commission staff and commissioners regarding the vision and priorities for the FTC. The Merchant Solutions homepage previously advertised a $1,000 Savings Guarantee, stating If we cant save you money on processing, well give you $1,000! Looking For One Of These Merchant Accounts For Collection Agencies? Screw this place I wish their was a way we could put them out of business. 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. Some merchant account providers may offer high fees. $35.00 BE AWARE!!! Dont give them, or their mother company, First Data, your business!!! He has also researched and published reviews about nearly every payment services provider and processor. Garbage company. They Are Not truthful about their service. Very shady business practices and a very deceptive sales process. With out so much as a single warning they withdrew ridiculously large amounts money from my amount, and were angered when I asked why. Suggest you consider that Paymentech and many others do not charge this. eMerchant Authority works exclusively with businesses, such as credit repair companies, that have been deemed to be high-risk clients. I hope there will be a class action lawsuit and I plan to be a part of it. If you are thinking of signing up with them just read the BBB website with all the complaints against them and read how they arrogantly respond and refuse to ever admit they are wrong. Amazing! 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. The site is secure. PaymentCloud can help almost any business get approved for payment processing. This company is nothing but a fraud. 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. Im so glad I read these before making a huge mistake. 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. : 182 3125, Competition and Consumer Protection Guidance Documents, HSR threshold adjustments and reportability for 2023, A Century of Technological Evolution at the Federal Trade Commission, National Consumer Protection Week 2023 Begins Sunday, March 5, FTC at the 65th Annual Heard Museum Guild Indian Fair & Market - NCPW 2023. Horrible company. They will give you false information over the phone and then tell you their salesperson had no authorization to give it. Only. I set up a payment arrangement . I DO RECOMMEND THAT YOU DO NOT ATTEMPT TO USE THEIR SERVICES!! DO NOT USE!!! When account underwriters are deciding the fees or terms for working with them, they will need to see the finances of your business. Seattle Collection Agency | Merchants Credit Association A full point-of-sale (POS) system in one sleek package. This does not compare favorably to our list of best credit card processors. Therefore, if you plan on accepting ACH payments online, youll likely need a payment gateway. Sequoia Financial Services - 2021 I have been with them since 2015 and in June,2019 I decided to go to a different processor. 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. Early penalty for cancellation. They even familiarize you with techniques and systems that keep customers satisfied and less likely to initiate chargebacks. 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. Biggest rip-off company, holding my $ 2500 in the name of government, one employee working all the time and dont know ownership of this company , dont sign any account with this company, This post will help: How to Make Your Payment Processor Release Your Money. Still interested? Comp Admin Fee $9.95 844-66-CFGMS (844-662-3467) 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. Let us know how well the content on this page solved your problem today. As of right now, I have this company for falsifying documents, and felony forgery. Disclaimer: Merchant Maverick aims to provide accurate and up-to-date information to assist you in your research. It is not intended as legal or financial advice. 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. 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. What out business owners out there about this Merchant Solutions. Certain payment gateways services support ACH payments and may be included as part of a payment processors list of basic services. How To Know If A Debt Collector Is A Scam | Bankrate This company should not be allowed to do business. The sales rep never returned my calls and is no longer with thw company. Flexible and transparent pricing suits high- and low-ticket agencies. service provider that has expertise in high-risk merchant A business that accepts credit cards for goods or services. 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. At Monetaria, we understand that your MCA agreements are time-sensitive. Thousand Oaks, CA 91362. The company never disclosed high fees , fees for not taking a test, and excessive closing fees. They said they are the cheapest one but they are not. In the United States, all debt collection companies will need to conform to the Fair Debt Collection Practices Act (FDCPA). You may be charged fees for using this account. eMerchant Authority is a registered ISO of Woodforest National Bank, Houston, TX Member FDIC. EMB is voted the top high risk processor in the US and has an A+ rating with the BBB. Which Collection Agencies Will Accept a Pay For Delete Agreement? the name of the creditor you owe it to. An official website of the United States government. Payment gateways offer an additional level of protection compared to virtual terminals by encrypting payment information before transmitting it to an acquiring bank. The sole purpose of the material presented herein is to alert, educate, and inform readers. These processors offer Quickbooks integration and have low rates. 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. These gateways may also support online portals through which users must enter before they can submit their payments online. There are zero termination penalties or contract fees for agencies using Host Merchant Services, and disclosures of processing rates and account fees online provide a welcome amount of pricing transparency. Once the application process starts, we will find the best merchant account for you. how much money you owe. Credit card processing for debt collection agencies The companys rating is also impacted by its higher-than-average complaint total with the BBB. Calls from United Merchant Asset Recovery? - Consumer Law Firm Center

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