And because customer satisfaction is what we aim for, we offer ongoing support to all our customers. Our proven Merchant Cash Advance (MCA) default recovery solutions are proven to turn your delinquent accounts back into cash. 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. Their customer service is simple horrible. Amazing! Telephone: (818) 409-6000. 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. The merchant solutions is the most horrible company I have ever dealt with. While the information in the above article is believed to be accurate as of its publish date, the author and publisher make no representation or warranties with respect to the accuracy, applicability, fitness, or completeness of the contents. PaymentCloud helps merchants navigate the necessary steps to become PCI-compliant within 90 days and without charging a PCI compliance fee. 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. At this point, I am looking for a new processor . If you are in the debt collection business, then you may find it very difficult to obtain a merchant account. BE AWARE!!! 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. They really do not want to do this. My request to talk to a supervisor and to review the contract I had supposely sign went unanswered. We can also provide the tools that you need to generate financial reports for any money passing through your merchant account. Horrible company. Copyright 2023 Merchant Maverick. When you ready to cancel their services they hit you with ridiculous restocking fee and cancellation fee. Fast turnaround: as little as 1-2 days. Getting paid to re-write this page? eMerchantBroker is a registered ISO/MSP of BMO Harris Bank, NA, Schaumburg, Illinois. When I wanted to cancel they wouldnt send me the cancellation form for weeks. Wondering what else to consider as a high-risk merchant that needs a reliable merchant account provider? CardPaymentOptions.com, Inc. All Rights Reserved. they charged me $450 every month out of total 10k annual monthly. This field is for validation purposes and should be left unchanged. The collections industry demands compliance with federal and state-level regulations, and payment processors should be able to facilitate easy compliance for debt collectors. Collection agencies that process mostly credit card payments should keep an eye out for merchant account providers that support virtual terminals. The Signature page of the second contract is an EXACT COPY of the account I did open. Anybody have any suggestions for getting out of this company? This is a business that is rife with fraud and chargebacks. I am looking to upgrade 4 of my restaurants systems. Within a month or two they charged me a yearly acct fee of $80.00 and then out of the blue raised the monthly rate to $20.00. when you cancel.Please take your business elsewhere. Customer service is horrible. 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. 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. When account underwriters are deciding the fees or terms for working with them, they will need to see the finances of your business. 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. These merchant account providers offer high-risk businesses like collection agencies a square deal when it comes to payment processing. In the United States, all debt collection companies will need to conform to the Fair Debt Collection Practices Act (FDCPA). Its website can be hard to use as well. We appreciate it. John in Customer Service was wonderful today with assisting me with the set up for my new Walker Bluetooth. Square is a top choice for POS for any type of business. Your business cannot opt for a standard merchant account here. No mention of 3 year contract and no proof of it. MerchantBroker is a registered ISO/MSP of BMO Harris Bank, NA, Schaumburg, Illinois. They are beyond shady and dont care at all about customer service!!! To know the right provider, here are factors to consider when looking for a debt collection agency for your debt collection business. PaymentCloud provides users with advice on choosing a chargeback management service and fraud mitigation service. Are you with The Merchant Solutions? Thousand Oaks, CA 91362. 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! Merchants can get more competitive contract pricing by instead going with a cheap merchant account provider. So not only was I billed WITHOUT my consent, but then they refused to refund more than half. I have proof of all deductions after I cancelled. Ray Siddiqui of TMS told me if I return the keypad, he would refund the $500 and 2 months of fees at $35/month. Look out for credit card processors who offer other merchant solutions that could be useful for your business. To keep an ACH account in good standing, debt collection agency merchants need to keep revokes (chargebacks) under 0.5% and returns less than 15%. 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. 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. High-risk specialist with anti-fraud and anti-chargeback protections. THIS WAS A TOTAL LIE. Their charges are exhorbitant. Maintaining these ratios is challenging for merchants in many industries. MERCHANT SOLUTIONS GROUP OPENS DOORS Business owners need capital to grow and manage their companies. Do you feel like its the right time to start a collection agency? If you think the bill is not yours, you could call the Attorney General in Tennessee at 615-741-3491. This company, Merchant Solutions, is a fraud. This company and its employees are rude, I have been trying to cancel and they make it difficult. As you're checking out a debt collection call, remember: don't respond to threats. Find legal resources and guidance to understand your business responsibilities and comply with the law. This Post Might Help: Best Restaurant Merchant Accounts. not explained. Just ridiculous! I am still waiting on on calls from their supervisors from last year. They stealing $1000.00 dollars from my account. Phone number: (302) 241-0686. Withdrew $900 from my account and told me that it was a $400 termination fee and $500 for the keypad. High-risk specialist Durango Merchant Services ability to place accounts for merchants with histories of excessive chargebacks is invaluable to new collection agencies. The overall household debt for an average family increased by 11% during the last 10 years. Its just a penalty fee that they add on you for leaving their company. Stay away from Themechantsolution!!! 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!! New York, NY 10038. Help us to improve by providing some feedback on your experience today. She said that I would need to submit an application in order to verify the discounts they were offering. They Rip you off way more than wat they told you they would charged. A handful of debt collectors employ scare tactics such as calling debtors around the clock or harassing them in person for collections. 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). 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. Check out our complete list of High-Risk Merchant Account Reviews for more traits that other top-performing high-risk specialists have in common. 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. Copyright 2023 eMerchantBroker, LLC. Looking for legal documents or records? DO NOT USE!!! this will happen if you change to another company. We spoke with ANAIS today and were helped with understanding the rates. Copyright CardPaymentOptions.com, Inc. (Digital Fingerprint: 0d38c6720f0d78a701b74d58653af608). Its like they try to rip you off once last time b4 they let you go. 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. The chargeback will be made against their account. Before sharing sensitive information, make sure youre on a federal government site. As a debt collecting agency, opening a debt collection merchant account is the best thing you can do to improve your business cash flow and offer more payment options to your customers. However, these channels appear to fall short of the support levels offered by top-rated payment processors for customer service. one year. Instead, it appears merchants must contact the company directly to learn more about the exact terms of this promotion. They have fees for everything when you cancel or have to end your contract early. No doubt necessary to achieve any success, as the sales person was barely literate. Needless to say, I immediately sent the keypad and tracking revealed they received it in 3 days. Debt collectors that are trained properly cannot act in a false or misleading manner in an effort to get you to pay. This complaint total is somewhat high for a company as small as TMS, and it therefore merits a D grade in our opinion. Learn more about our monetization policies here. 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. 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. These people called me for weeks and sent me all kinds of sales materials when my business started. These customer chargebacks can make acquiring banks wary of approving merchant account applications from debt collectors. The sales rep is manipulative and they never disclosed a 400$ cancellation fee or an annual fee. If you can get one who has worked with businesses in the debt collection industry, the better. Verify before you sign with this company. 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. That doesnt count the canclelation fee that coming up from them. 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 Best Merchant Accounts For Collection Agencies & Debt Collectors. We can help you to seamlessly integrate eMerchant Authority payment solutions into your business. You really leave your business account open to these guys with free access to do as they like. Some merchant account providers may offer high fees. I set up a payment arrangement . In addition his contributions here, Phillip has also been quoted in several major publications such as The Los Angeles Times, INC Magazine, Miami Herald, Computer World, and numerous others. TMS is a registered independent sales organization and member services provider (ISO/MSP) of Wells Fargo Bank, N.A., of Concord, California. EMB is voted the top high risk processor in the US and has an A+ rating with the BBB. 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. 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 https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely. 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. PayKings comes with exclusively tiered pricing plans and only applies lower processing rates to certain qualifying transactions. TOTAL SCAMMERS!!! Not much, but still more than disclosed. CFG Merchant Solutions, LLC. These are charged beyond any percent fees. They terminated my account for non use since I was using another company and had not transferred over yet. I had to close the account, due to poor sales results. Run, dont Walk, from the Hustler Con Artists at The Merchant Solutions. With our underwriting services in place, you can enjoy a much greater success chance of obtaining a merchant account with one of these banks. 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. Then I began getting charged a PCI non compliant fee $40.00. if anyone do business with this scums be prepared to have a high blood pressure. From The Editor I would recommend not to do business with this company. eMerchant Authority specializes in merchant accounts for high-risk businesses; this includes debt collection agencies. This Post Might Help: Cancelling a Merchant Account Without Paying a Fee. Advertiser Disclosure: Our unbiased reviews and content are supported in part by. Upon cancellation after over 4 years I returned the machine in good order. 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? I left MerchantSolutions a number of months ago, even though it cost me remaining monthly fees until my contract expires. 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! Instabill offers credit card terminals albeit with little information concerning specific terminal models or features on its website. By keeping the risk of chargebacks and fraud to the absolute minimum, your business can benefit. From The Editor To better understand why we adjust BBB ratings, please see our Rating Criteria. Horrible company. Its important to be able to connect with a real person on the phone. Also that free terminal will cost you $350 when you try to cancel the account. 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). This means that our job is to reduce the risk of any transactions for the merchant bank. The types of collections that different agents and agencies deal with, though, can vary widely. I was skeptical and decided not to switch to merchant solutions. They round up everything, even when they shouldnt according to elementary mathematics! Monthly Fee $25.00 Your Merchant Cash Advances help commercial businesses succeed. As of right now, I have this company for falsifying documents, and felony forgery. Get Started With Durango Merchant Services. I have been in contact with them for months now, and they still cannot give me a justifiable answer. These revenues in no way influence our ratings or reviews. MCA is a premier full-service debt collection agency, providing successful debt management solutions with integrity since 1937. This post will help: How to Get Out of a Merchant Account Contract. eMerchant Authority operates an in-house underwriting team. PayKings, although a high-risk specialist, ironically exacerbates issues with reliable streams of revenue that are common to the debt collection industry. Location & Ownership This company will be out of business in one year or less. 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. $695 for early termination,$1500 programming fee, I have never hear of any company charging a programming fee. The collector has to tell you four pieces of information. Monthly Processing RangeUnder $1,000$1,000 - $5,000$5,000 - $25,000$25,000 - $50,000$50,000 - $100,000Over $100,000. BEWARE OF THESE DOGS! (800) 228-0210 Technical Support, The Merchant Solutions also offers a customer service email at [emailprotected]. 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.. Abdulali Mithani is the CEO and chairman of The Merchant Solutions, though LinkedIn also lists a Zahra Mithani as CEO and a Taufia Mithani as CEO and chairman. 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. There are a bit more than 9.000 businesses in the industry that employ over 150.000 people. I would not recommend TMS to my worst enemies. Product & company names, logos, and trademarks referred to on this site belong to their respective owners. Keep your money you work for and dont use them. They never have any answers and are only looking for ways to disconnect you. But the majority of merchant-acquiring banks reject applications from debt collectors because of the collections industrys complicated reputation. Use our visualizations to explore scam and fraud trends in your state based on reports from consumers like you. This does not compare favorably to our list of best credit card processors. Some processors have no monthly, no annual fees, no contract, and cheap rates. 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. Don't Fall Into An Expensive Trap. This has Been the worst POS processing company I have ever felt with. We have lowered the companys score in this section to a C to reflect this consistency. We were charged a $350 restocking fee after being told there would be NO FEES. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); BE AWARE!! I work damn hard to run my business and I will be damned if they are going to steal money from me. This company needs to be put out of business. 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. Credit Card Processing for Debt Collection Businesses The Merchant Solutions processes most major payment types. Toll free: (888) 544-9711. BBB received a pattern of complaints concerning collections practices. 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. Then to my horror these con-artists actually refused to close my account and continue to send me monthly bills to this day. What Is A POS System & Choosing The Best For Your Business, Discover The Best Business Credit Cards In 2023, Best Business Credit Cards For Your Nonprofit Organization, Explore Business Credit & Banking Resources, How Signing a Personal Gurantee Affects You. Working with a debt settlement company may lead to a creditor filing a debt collection lawsuit against you. eMerchantBroker.com. After I cancelled my account with them, they debited my account $50.00 to refurbish the terminal they provided free of charge. 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. Swipe credit cards securely by implementing PCI compliant payment solutions. With out so much as a single warning they withdrew ridiculously large amounts money from my amount, and were angered when I asked why. 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. Find the resources you need to understand how consumer protection law impacts your business. 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. Youre also working with a business that knows your problem and has the fix. 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. Due to the unique processes that eMerchant Authority has in place, the risk of a chargeback is low. To my surprise after trying them out I was told that I had signed a 3 yr contract with a $350 termination fee. $35.00 Not an existing MeS Virtual Terminal User? The Merchant Solutions provides credit card, debit card, EBT, gift card, ATM, and check acceptance. When we both know its theirs! 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. CFPB accused Encore Capital Group and Portfolio Recovery Associates Inc. of misleading and harassing consumers, which led . We take great pride in providing one of the only objective an unbiased merchant account review websites on the internet. This Post Might Help: Cancelling a Merchant Account Contract Without Paying a Fee. 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.
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