Try PaymentCloud. They do not inform you before they process the money out of your account, Which in my opinion is bad business practice. Copyright 2023 eMerchantBroker, LLC. eMerchant Authority operates an in-house underwriting team. Read more below to learn why we chose these options. The Merchant Solutions is a fraud, it is an unprofessional, unethical company simple looking to scam anyone who falls for their lies. Our integrations connect you with the best tools for your business. Soar Payments is a great choice for high-risk debt collectors that are looking for a quick-yet-thorough underwriting process as well as customized quotes after their application phase. Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services. The following is a sample list of complaints filed against United Merchant . Learn more about our monetization policies here. This company will be out of business in one year or less. I attempted to cancel my contract and they are trying to hit me with over $1000 in last min charges. I would not recommend TMS to my worst enemies. 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. I have been with them since 2015 and in June,2019 I decided to go to a different processor. We have lowered the companys score in this section to a C to reflect this consistency. eMerchant Authority specializes in merchant accounts for high-risk businesses; this includes debt collection agencies. Let us know how well the content on this page solved your problem today. high risk merchant account instant approval, high risk merchant account payment gateway, offshore high risk merchant account providers, Merchant Business Funding: Making It Easier for Merchants to Get What They Need When They Need it, Instant Credit Card Processing: What You Need to Know, International High-Risk Merchant Accounts For Global Growth, Electronic Business Merchants Face Unique Challenges, We Can Help, Payment Gateways Help Merchants Keep Sites Safe and Secure, A valid, government-issued ID, such as a state-issued drivers license, A bank letter or a pre-printed voided check, 3 months of the most recent bank statements, 3 months of the most recent processing statements, if applicable, An SSN (Social Security Number) or EIN (Employer Identification Number). 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. 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. 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. Opinions expressed here are authors alone. In the United States, all debt collection companies will need to conform to the Fair Debt Collection Practices Act (FDCPA). And particularly so for debt collectors due to the consumer demographic of debtors. They are crooks. That doesnt count the canclelation fee that coming up from them. Respectable processors like EMB guarantee a fast, secure application process. Spot the latest COVID scams, get compliance guidance, and stay up to date on FTC actions during the pandemic. Their charges are exhorbitant. 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. I got a shock when they deducted total of $1000.00 from my account in 4 payments. And because I signed the document, the company is telling me, that I am liable for the contract. 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. These companies and people are banned, by federal court orders, from participating in the business of debt collection. Recently contacted The Merchant Solutions about a fee they charged me on my merchant account. 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. 2985 E. Hillcrest Drive 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. These processors offer Quickbooks integration and have low rates. They have terrible reviews on google and many many complains on BBB. I was to have 1 account with Merchant Solutions ! Disclaimer: Merchant Maverick aims to provide accurate and up-to-date information to assist you in your research. Fast turnaround: as little as 1-2 days. Horrible company. If you would like to interview Phillip for your story or podcast, please reach out here. There is PayPal and Square, why would me, a small tiny business ever agree to such a thing I wouldnt. Collection agencies that process mostly credit card payments should keep an eye out for merchant account providers that support virtual terminals. Home (425) 643-2613 (800) 755-1107. 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. I will make sure this is my last time using this company. This company should not be allowed to do business. He has also researched and published reviews about nearly every payment services provider and processor. When account underwriters are deciding the fees or terms for working with them, they will need to see the finances of your business. is the best thing you can do to improve your business cash flow and offer more payment options to your customers. Your email address will not be published. Lots of hidden fees that other companies dont charge! This company is a bunch of scam artists charging a early termination fee of 395 after we were with this company 6 yrs and only had a 3 yr contract which they took upon themselves to renew, charges for non compliance because they decided to switch companies for their compliance when I was compliant through April of 2013 and now a $50 fee for refurbishing,, it is not my problem that they need to refurbish a machine. Home Blog High-Risk Merchant Accounts The Best Merchant Accounts For Collection Agencies & Debt Collectors, Save money on credit card processing with one of our top 5 picks for 2022. Do not give them your business. TOTAL SCAMMERS!!! Most merchant providers are reluctant to offer. The company never disclosed high fees , fees for not taking a test, and excessive closing fees. 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. * The terms and conditions of this promotion currently cannot be found on the website. In addition to those 2 complaints, the company has received 58 informal reviews. 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. You want a merchant account provider who has the experience and more so one with experience working with high-risk industries like yours. Suggestion to get rid of them is to block them from your bank account, thats how they suggested getting out of a current contract! I was told thay my rates would be as low as 1.5%. Its a TOTAL SCAM! Over the years, we have built up connections with banks all over the world. So, its no surprise that banks often deny them merchant accounts. Our experienced attorneys can help you come up with a strategy to deal with your debt while keeping your business running. Both were resolved to the dissatisfaction of the merchant or received no final response. 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. Horrible company. The types of collections that different agents and agencies deal with, though, can vary widely. 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. If your company is in the business of collecting debts, then you will need to have some way to process payments. Sequoia is located in the Agoura Gateway at: Agoura Hills, CA 91301. 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 signed up a few weeks ago and havent been able to get into contact with them since. Other companies may just outright decline your application. They dont deserve a BBB rating they suck!!!! Numerous times I informed her that we already had an account with a different company, and we were not ready to transition but would be happy to look at the numbers. 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. With a unique regulatory background and experience in high-risk industries, Flex Payment Solutions offers credit card processing that integrates simply with your system, full transparency on fees and 100% compliance. 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. A powerful, two-screen point of sale (POS) system that allows merchants to run their business . The .gov means its official. $35.00 They get you sign up with them for a minimum fees and after few months they hit you with 7% fees. The majority of Americans use loans, credit cards, lines of credit to pay for their lifestyles. 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 Might Help: Best Restaurant Merchant Accounts. 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. This company needs to be put out of business. There are also several risk factors and legal issues that can complicate your decision when choosing the proper payment processor. Location & Ownership I had to close the account, due to poor sales results. They charged me $300 for what they called setup charges. From The Editor Anybody have any suggestions for getting out of this company? This is why when you partner with us you also enjoy transparent pricing with no long-term contracts or hidden fees. Ideal for collection agencies with a history of excessive chargebacks. Note that we are not able to provide private consultations, give advice, or answer questions. FTC Staff. Click here for more product information. The worst company to do business with ever!!!! Your Merchant Cash Advances help commercial businesses succeed. Kim, this just happened to me and I wanted to see if you had any outcome in your situation. Worse company ever. Click here to earn a reward. All debt collectors track down past-due debts that businesses and consumers owe. Credit cards are, relative to ACH/EFT payments, more prone to chargebacks. I would recommend not to do business with this company. I am still trying to get that back. If you have your own The Merchant Solutions review to make, please do so in the comments below. Total $247.95. Therefore, if you plan on accepting ACH payments online, youll likely need a payment gateway. The Merchant Solutions processes most major payment types. New York, NY 10038. It took me 2 weeks of calling NON-STOP to get any response. 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!! 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. If you think the bill is not yours, you could call the Attorney General in Tennessee at 615-741-3491. As you're checking out a debt collection call, remember: don't respond to threats. This was not in our contract, but I couldnt get the money back without suing them. Businesses need cash: Restaurants, Bars & Hotels Automotive Salons & Day Spas Doctors, Dentists & Vets Franchises & more 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. Working with a debt settlement company may lead to a creditor filing a debt collection lawsuit against you. Learn more about the new debt collection rule. I will report this matter to BBB about their sales / marketing strategy for omitting such cancellation fee info. If youre interested in securing a virtual terminal that you can integrate with your businesss payment processing solutions, we recommend that you choose an online payment processor with systems to combat card-related consumer chargebacks that minimize interruptions to your revenue stream. Still interested? This means that our job is to reduce the risk of any transactions for the merchant bank. 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. Has representatives that open fradulent accounts. I have proof of all deductions after I cancelled. These people are down right crooks! Customer service is horrible. I will NEVER consider using them again. We're Proud to Advance Cash to Business Owners Like You. Dont give them, or their mother company, First Data, your business!!! This company hires predatory sales people, arent up front about fees and raped my bank account. when you cancel.Please take your business elsewhere. After youve signed up, you than learn there are more charges and feel which they will auto-deduct from your merchant account without notification. 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. Address: Recovery Solutions Group. 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. (800) 228-0210 Technical Support, The Merchant Solutions also offers a customer service email at [emailprotected]. Merchant Card Advisors specializes in providing comprehensive merchant account services for high-risk businesses, including businesses in the debt collecting sector. 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. eMerchant Authority can help with this. This means that you cannot work with companies like PayPal or Square. The Signature page of the second contract is an EXACT COPY of the account I did open. When banks determine a businesss risk status, they consider that businesss complete history of chargebacks. This is Uncle Fried Chicken LLC, and The Merchant Solutions are scammers and dont follow their own contract rules. 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. 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. Of course, we will provide you with all of the tools that you need to process payments. PCI Non-Cpmpliance. Do you feel like its the right time to start a collection agency? They round up everything, even when they shouldnt according to elementary mathematics! This means that your business will be making a lot more profit for each transaction. Ive called them over 15 times, and each time they blow me off, or offer me a partial refund if I delete the negative (yet accurate) Yelp and Rip Off Report reviews I left them. Not an existing MeS Virtual Terminal User? We also encourage merchants to check out our list of the providers of the best merchant accounts. You will not have enough time to do it, the machine terminal breaks all the time. Weve resolved overdue accounts for clients without damaging customer relationships. if anyone do business with this scums be prepared to have a high blood pressure. service provider that has expertise in high-risk merchant A business that accepts credit cards for goods or services. 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. And, likeseveral other merchants weve covered in this article, Soar doesnt publically disclose its pricing plans on its website. They Rip you off way more than wat they told you they would charged. We can help your collection agency even if you've you been turned down by service providers in the past. No doubt necessary to achieve any success, as the sales person was barely literate. CFG Merchant Solutions, LLC. Provider of affordable payment processing hardware that can streamline various debt collection operations. Why would we want a service we couldnt use? When you choose us, youre not just getting back your assets. When we both know its theirs! 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. 1008 Mattlind Way. 100$ fee come out of no where every month, and when i called them they said that 100$ fee only apprea once a year. Same situation. 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. With out so much as a single warning they withdrew ridiculously large amounts money from my amount, and were angered when I asked why. I was skeptical and decided not to switch to merchant solutions. Common themes include undisclosed fees, difficulty reaching a representative, problems with leased equipment, and termination or restocking fees in excess of $900. I have been getting charged for a second account since April of 2012 that I did not authorize and for which they are telling me I did. It is not intended as legal or financial advice. Call 1-888-288-2692. The Merchant Solutions provides credit card, debit card, EBT, gift card, ATM, and check acceptance. Cancellation take place 30 days after the day is cancel and tones of ridiculous fee charged during those 30 days. Lina M. Khan was sworn in as Chair of the Federal Trade Commission on June 15, 2021. We are on our 4th machines, the terminals are very light, and very cheap looking, they break all the time, but when you try to get out of the contract because of it, they will say something like, but we can trouble shoot for you. This means that you can always stay on top of any transactions that you are making. Requirements: 600+ credit score, 12+ months in business and $100,000+ revenue. Check out our complete list of High-Risk Merchant Account Reviews for more traits that other top-performing high-risk specialists have in common. Easier borrower qualifications that help you build business credit. Search the Legal Library instead. 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 Advertiser Disclosure: Our unbiased reviews and content are supported in part by. The majority of Americans use loans, credit cards, lines of credit to pay for their lifestyles. All Rights Reserved. Square is a top choice for POS for any type of business. Suggest you consider that Paymentech and many others do not charge this. I had joined Merchant Solutions because they told me there is no contract and no charge for the machine. We work to advance government policies that protect consumers and promote competition. These people are the biggest crooks Ive ever encountered. This means that you will be out of business. That means we spend every day sharpening our tools and providing the know-how to efficiently resolve delinquencies and liquidate accounts. Additional rates and fees, including a technical support fee may apply. Understand how the CFPB's Debt Collection Rule can help you. How Can Merchants Use Debt Collectors to Recover Chargebacks? I paid $99 for $1000 and for another $1000 i paid $119 it means more than 10% The Merchant Solutions has been accredited with the Better Business Bureau since 2010 and currently has an A+ rating and has received 2 complaints in the past 36 months. Memo from Chair Lina M. Khan to commission staff and commissioners regarding the vision and priorities for the FTC. Offers automated account application and custom quote processes. Which Business Bank Account is Right For You? RUN! Beware, do not do business with merchant solutions. You may be charged fees for using this account. 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. So only use this business if you like being lied to and stole from cause thats what their good at. Problems logging in? 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! The Merchant Solutions rates as an average merchant services provider across the board according to our rating system. . Teaming with IVR Technology Group, we also provide pay-by-phone voice . Several complainants outright accuse the company of being a ripoff or a scam operation. These merchant account providers offer high-risk businesses like collection agencies a square deal when it comes to payment processing. Home; Services Healthcare Services; Consumer Business Collections . Some collectors harass and threaten consumers, demand larger payments than the law allows, refuse to verify disputed debts, and disclose debts to consumers' employers, co-workers, family members, and friends. Besides, we understand just how financially difficult it is to become a business owner. A full point-of-sale (POS) system in one sleek package. Many may find PaymentClouds organization of products on its website to be less than navigable. 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. $1350 fee if terminal is not returned within 10 days. eMerchantBroker is a registered ISO/MSP of BMO Harris Bank, NA, Schaumburg, Illinois. PaymentCloud specializes in difficult-to-place merchant accounts for credit card processing. They charge you all kinds of fees which your not told about. 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. They are thieves because they stole money from my account and wont make it right with me. This includes debt collection companies and debt buyers. They actually added 19 pages to our contract virtually and said we signed them 1 1/2 years after signing the original. The companys rating is also impacted by its higher-than-average complaint total with the BBB. They constantly slip in unauthorized charges. Only. Thats why weve broken down the basic features of the best merchant accounts for collection agencies and debt collectors. Lets start with the salesman Daniel A. Customer service is a joke and they just gave me a run around, once even saying they would transfer the info to the analytical Dept while the rep was laughing. Are you with The Merchant Solutions? Debt collectors that are trained properly cannot act in a false or misleading manner in an effort to get you to pay. They said they are the cheapest one but they are not. This is very dishonest company with deceptive business practices. Get Started With Durango Merchant Services. DO NOT EVEN talk to their salespeople. Find Loan Options For Your Small Business. Merchants can get more competitive contract pricing by instead going with a cheap merchant account provider. I have filed a complaint with the bbb and am probably going to get a attorney to get my money back. I am still waiting on on calls from their supervisors from last year. This is a business that is rife with fraud and chargebacks. So not only was I billed WITHOUT my consent, but then they refused to refund more than half. I set up a payment arrangement . Help us to improve by providing some feedback on your experience today. Do not get trap by this company. Its website can be hard to use as well. Merchants are advised to thoroughly review their merchant agreements with The Merchant Solutions and to renegotiate their contracts if hidden fees are suspected. Disgusted. The Merchant Solutions, founded in 1999, is a small merchant account provider based in Woodland Hills, California.
Eaa Witness Magazine Base Pad,
North Central Province Education Department,
Articles M
