Should have know. Very rude on phone, does not care about you as a customer. Due to the unique processes that eMerchant Authority has in place, the risk of a chargeback is low. There are also several risk factors and legal issues that can complicate your decision when choosing the proper payment processor. Still interested? 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. Youll get your merchant account for your collection agency in as little as 24 48 hours. Min. Milford, DE 19963. Do not give them your business. Flexible and transparent pricing suits high- and low-ticket agencies. New York, NY 10038. 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. A collection agency merchant account is essential to process payments in this unique industry. 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.. Upon cancellation after over 4 years I returned the machine in good order. In some cases, this leads to merchants contracting with debt collection agencies. Find legal resources and guidance to understand your business responsibilities and comply with the law. YOU WILL BE SORRY! Do not believe anything they say about their service. I signed up with another company, Triumph Merchant Solutions NOT this company yet this company has illegally debited my account without authorization. If so, you may be a victim of United Merchant Asset Recovery debt collection harassment. The job of the business, however, is to ensure that they have processes in place to keep this risk down to the absolute minimum. I have proof of all deductions after I cancelled. And because customer satisfaction is what we aim for, we offer ongoing support to all our customers. These businesses are associated with a higher rate of risks related to payment processing and a large volume of chargebacks. Whatever type of debt collection your business operates in, we are confident that we can find a high-risk merchant account for you. Merchant account providers know that there will always be a bit of a risk dealing with debt collection agencies. You really leave your business account open to these guys with free access to do as they like. $695 for early termination,$1500 programming fee, I have never hear of any company charging a programming fee. You may be charged fees for using this account. they hurt me by taking un authorized money out of my account The sales rep is manipulative and they never disclosed a 400$ cancellation fee or an annual fee. 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. Horrible company. Instabill offers credit card terminals albeit with little information concerning specific terminal models or features on its website. not explained. 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. If that happens, then it will be the merchant account provider on the line. the rep I spoke to became Irrate and told me he didnt appreciate me accusing him of charging bogus fees and he told me he was going to hang up on me. PaymentCloud provides users with advice on choosing a chargeback management service and fraud mitigation service. Therefore, if you plan on accepting ACH payments online, youll likely need a payment gateway. Use our visualizations to explore scam and fraud trends in your state based on reports from consumers like you. This means that you will be out of business. 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). The Signature page of the second contract is an EXACT COPY of the account I did open. Screw this place I wish their was a way we could put them out of business. How To Make The Right Choice, Buy Now Buttons: The Key To Selling On Your Blog Or Website, automated clearing house (ACH)/electronic fund transfer (EFT) payments, types of professional liability insurance, complete list of High-Risk Merchant Account Reviews, The 6 Best E-Cigarette & Vape Merchant Accounts, The Best Options For Fantasy Sports Merchant Accounts (& How To Get Your Account Approved), The Best Merchant Accounts For Travel Agencies, Booking Firms, Tour Operators & Other Travel Businesses, FreshBooks Payments 101: The Complete Guide To Using FreshBooks Credit Card Processing Service, Coronavirus (COVID-19) Guides & Resources, Gift Card Systems For Small Business Guide: Best Ways To Sell Small Business Gift Cards In 2023, 8 Cheapest Credit Card Processing Companies & Low-Cost Merchant Services, Best Emergency Business Loan Options For Your Small Business, What Is Shopify & How To Use Shopify In 2023. Which Collection Agency Merchant Account Is Right For My Business? 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. Nasty contract . they charged me $450 every month out of total 10k annual monthly. Merchants can get more competitive contract pricing by instead going with a cheap merchant account provider. Better look for alternatives. Get the truth here. There is no monthly fee but there is a monthly minimum fee meaning if you dont process the requirement you are charged that fee. The types of collections that different agents and agencies deal with, though, can vary widely. This means that we can offer rates that are a little bit cheaper than most other high-risk merchant account providers. Our experienced attorneys can help you come up with a strategy to deal with your debt while keeping your business running. The majority of Americans use loans, credit cards, lines of credit to pay for their lifestyles. If you are a small business owner avoid these crooks like the plague. When people stop paying, unpaid debts are sent to collection agencies These agencies go after debtors to recover the money for banks and creditors. We occasionally send out emails with special offers. This field is for validation purposes and should be left unchanged. Lots of hidden fees that other companies dont charge! This means that you can always stay on top of any transactions that you are making. Get your cash flowing again with our Merchant Cash Advance debt recovery solutions. This credit card processing company is HORRIBLE! one year. 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. Licensed Debt Collectors As applicants are approved consumers can look up and verify our licensed servicers' telephone number, email address, and website information through the Nationwide Multistate Licensing System (NMLS) Consumer Access ( www.nmlsconsumeraccess.org ). Credit cards are, relative to ACH/EFT payments, more prone to chargebacks. Higher cost than explained in solicitations If you can get one who has worked with businesses in the debt collection industry, the better. They will not return my phone calls now. Annual Fee $79.00 These are charged beyond any percent fees. Ready to integrate payment processing solutions into your new business? Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services. Look out for credit card processors who offer other merchant solutions that could be useful for your business. There are more than 50 negative The Merchant Solutions reviews on this and other consumer protection websites, and many of these The Merchant Solutions complaints have been posted within a year of this update. That means we spend every day sharpening our tools and providing the know-how to efficiently resolve delinquencies and liquidate accounts. 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. Also that free terminal will cost you $350 when you try to cancel the account. So not only was I billed WITHOUT my consent, but then they refused to refund more than half. Worse company ever. The creditor may also hire a debt collector or sell the debt to someone who may try to collect the debt. I was never given a written contract had computer generated signature. Learn more about dealing with debt collection at ftc.gov/debt. If you are looking for a merchant account for your debt collection company, or you have any questions about the services that we provide, then please reach out to us today. A lot of other company with no contract and fees to work with out there. 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. Toll free: (888) 544-9711. Its a TOTAL SCAM! This post will help: Cancelling a Merchant Account Without Paying a Fee. 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. An official website of the United States government. They constantly slip in unauthorized charges. Seeking to take them to court for their theft. Stay away from Themechantsolution!!! 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. 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. To better understand why we adjust BBB ratings, please see our Rating Criteria. 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. Numerous calls went straight to voicemail without any return calls. I signed up with them and then realized my mistake as I was hit with overcharges on fees as soon as i charged my very first customer. Verify before you sign with this company. They have terrible reviews on google and many many complains on BBB. Swipe credit cards securely by implementing PCI compliant payment solutions. Opinions expressed here are authors alone. 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. Because of their undisclosed fees and charges I ended up paying more than my previous company. Tayne Law Group is a New York-based debt resolution law firm that helps small business owners resolve debts of all sizes. I called to complain upper management said theres nothing they can do I sign the contract Im the one going to get screwed complete scam scam scam! They are charging me a huge fee to cancel. eMerchantBroker can . Spot the latest COVID scams, get compliance guidance, and stay up to date on FTC actions during the pandemic. Note: We have adjusted this companys BBB rating according to our own standards. Its like they try to rip you off once last time b4 they let you go. According to The Merchant Solutions complaints filed on this site and elsewhere, TMS appears to offer a standard contract of three years with automatic renewal, an annual fee of $79, a PCI compliance fee of $99, and an early termination fee of $395 or more. 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. This is Uncle Fried Chicken LLC, and The Merchant Solutions are scammers and dont follow their own contract rules. I set up a payment arrangement . Save money with Merchant Solutions low processing rates and free terminal program. 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. Product & company names, logos, and trademarks referred to on this site belong to their respective owners. if anyone do business with this scums be prepared to have a high blood pressure. So only use this business if you like being lied to and stole from cause thats what their good at. This post will help: How to Get Out of a Merchant Account Contract. . A collector has to give you "validation information" about the debt, either during the collector's first phone call with you or in writing within five days after first contacting you. Federal government websites often end in .gov or .mil. Get clarity before you switch. the name of the creditor you owe it to. 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. It is worth noting that being a high-risk company does not mean that your application for a merchant account will always be rejected. Phillip Parker is an independent digital payment consultant specializing U.S. and Canadian point-of-sale, ecommerce, and mobile payment acceptance. *Rates quoted as the % above normal card interchange costs, dues, fees, and assessments. TMS is a registered independent sales organization and member services provider (ISO/MSP) of Wells Fargo Bank, N.A., of Concord, California. 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. Merchant Mavericks ratings are editorial in nature, and are not aggregated from user reviews. As you're checking out a debt collection call, remember: don't respond to threats. When I explained to the representative that my business is not making any money she did not care, but wanted to know where to send the cancellation to withdraw the fee. Learn more about your rights as a consumer and how to spot and avoid scams. Run, dont Walk, from the Hustler Con Artists at The Merchant Solutions. 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. 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. Businesses need cash: Restaurants, Bars & Hotels Automotive Salons & Day Spas Doctors, Dentists & Vets Franchises & more 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. Lina M. Khan was sworn in as Chair of the Federal Trade Commission on June 15, 2021. When he isn't writing about IT solutions and innovations that help his clients, he's probably sitting behind a drumkit or adding new hardware to his computer. This does not compare favorably to our list of best credit card processors. Ex. The Merchant Solutions processes most major payment types. These customer chargebacks can make acquiring banks wary of approving merchant account applications from debt collectors. To know the right provider, here are factors to consider when looking for a debt collection agency for your debt collection business. The sales rep promised that I had nothing to lose and that I can try it for 30 days and can cancel without any penalties. Then to my horror these con-artists actually refused to close my account and continue to send me monthly bills to this day. Are you with The Merchant Solutions? Other companies may just outright decline your application. After saying, I DID NOT SIGN FOR, I DO NOT WANT, AND FURTHERMORE NEVER RECIEVED A TERMINAL FOR A TERMINAL ACCOUT I DID NOT OPEN, BUT I AM AND HAVE BEEN GETTING CHARGED FOR THE PAST 10 MONTHS.I am no closer to solving this problem. Today they transferred $70 out of the bank account which now has been shut down over theyre crazy charges. All debt collectors track down past-due debts that businesses and consumers owe. Learn more about our monetization policies here. We can help you to seamlessly integrate eMerchant Authority payment solutions into your business. PaymentCloud can help almost any business get approved for payment processing. No mention of 3 year contract and no proof of it. Your business cannot opt for a standard merchant account here. This lack of transparency in pricing is typical of the industry in general. No doubt necessary to achieve any success, as the sales person was barely literate. Kim, this just happened to me and I wanted to see if you had any outcome in your situation. Besides, we understand just how financially difficult it is to become a business owner. Going to BBB and will get attorney if I have to. We can help your collection agency even if you've you been turned down by service providers in the past. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations. 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. Common themes include undisclosed fees, difficulty reaching a representative, problems with leased equipment, and termination or restocking fees in excess of $900. Search the Legal Library instead. Now illness has caused me to lose my merchant tax ID. Several complainants outright accuse the company of being a ripoff or a scam operation. A full point-of-sale (POS) system in one sleek package. Let us know how well the content on this page solved your problem today. Were dedicated to B2B debt recovery. This has Been the worst POS processing company I have ever felt with. Looking For One Of These Merchant Accounts For Collection Agencies? To my surprise after trying them out I was told that I had signed a 3 yr contract with a $350 termination fee. Fast turnaround: as little as 1-2 days. The Merchant Solutions is definitely THE worst credit card company EVER!!!! 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. Over the years, we have built up connections with banks all over the world. FTC Staff. 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. 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. 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. Payment gateways offer an additional level of protection compared to virtual terminals by encrypting payment information before transmitting it to an acquiring bank. DO NOT USE!!! However, pricing is not disclosed on either of those services. Bitty advance immediately escalated my debts to Recovery Solutions Group and they have been harassing me ever since. 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. At this point, I am looking for a new processor . We also encourage merchants to check out our list of the providers of the best merchant accounts. Wondering what else to consider as a high-risk merchant that needs a reliable merchant account provider? They actually added 19 pages to our contract virtually and said we signed them 1 1/2 years after signing the original. Do not get trap by this company. This means that you cannot work with companies like PayPal or Square. The Merchant Solutions fees and terms are average for the industry, so we have given TMS a C in this section. Thousand Oaks, CA 91362. He has also researched and published reviews about nearly every payment services provider and processor. Phillip created this website and has written over 1,000 articles regarding all things payments. These revenues in no way influence our ratings or reviews. This means that you will need both a payment processor and a merchant account. The author and publisher shall in no event be held liable to any party for any direct, indirect, punitive, special, incidental or other consequential damages arising directly or indirectly from any use of this material, which is provided as is, and without warranties. The Merchant Solutions provides credit card, debit card, EBT, gift card, ATM, and check acceptance. I agreed to pay back the money that was owned. The Merchant Solutions is a fraud, it is an unprofessional, unethical company simple looking to scam anyone who falls for their lies. The debt collection industry is a high-risk one, which means that business owners who want to start a collection agency may face a few hurdles when looking for a merchant account thats right for them. The company never disclosed high fees , fees for not taking a test, and excessive closing fees. If you need help with rate and fee negotiations, payment integrations, cost optimization, or provider selection, schedule a consultation here. Neither of these 2 complaints was resolved by the company to the satisfaction of the merchant. EMB offers customized payment solutions to collection agency merchants that offer these services: To get your merchant account, you just need to fill out EMBs quick online application. They refuse to refund the money. You may be surprised to know that this is one of the top reasons why smaller companies end up having to shutter their doors. I got a shock when they deducted total of $1000.00 from my account in 4 payments. 844-66-CFGMS (844-662-3467) 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. 1008 Mattlind Way. 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. Signature not by me, computer generated. This means that you could, effectively, lose your ability to run your business. * The terms and conditions of this promotion currently cannot be found on the website. 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. There are a bit more than 9.000 businesses in the industry that employ over 150.000 people. In the podcast below, Phillip explains how credit card processing and credit card fraud affects business owners. Due to the risky nature of your business the typical bank wont deal with you. 4 Best Merchant Accounts For Collection Agencies. 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. The Merchant Solutions, founded in 1999, is a small merchant account provider based in Woodland Hills, California.
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