We work to advance government policies that protect consumers and promote competition. We spoke with ANAIS today and were helped with understanding the rates. Look out for credit card processors who offer other merchant solutions that could be useful for your business. Seriously they will destroy your business. DO NOT USE!!! I have tried to use card reader several times without success. Payment gateways offer an additional level of protection compared to virtual terminals by encrypting payment information before transmitting it to an acquiring bank. This means that you can always stay on top of any transactions that you are making. All Rights Reserved. There are a bit more than 9.000 businesses in the industry that employ over 150.000 people. Please refer to our Advertising Disclosure to learn more about how we earn compensation from affiliate partnerships and how we maintain our independent editorial integrity. 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). Keep up the excellent work Austin and thank for helping us through out the entire setup process. They bill me $100.00 more for the first month & when I complained they told me they going to have a rate review and correct it, the second months they did the same, one week in the third months I stop using them for processing and then they threatening me with a $495.00 early termination fee that I cross in the application then I find out that Daniel A. forged my initial and change the page. 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!! It took me 2 weeks of calling NON-STOP to get any response. To my surprise after trying them out I was told that I had signed a 3 yr contract with a $350 termination fee. 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. one year. Dont give them, or their mother company, First Data, your business!!! 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. 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. 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. 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. 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. service provider that has expertise in high-risk merchant A business that accepts credit cards for goods or services. You could tell a collector to send a validation notice. Learn more about our monetization policies here. 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. Strongly suggest that anyone does there homework and compare companies for this service. For this reason, they are often linked to high complaint totals. He was patient and knowledgeable and I am more than pleased with the assistance I receive from the Merchant Solutions. When we both know its theirs! 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. When I wanted to cancel they wouldnt send me the cancellation form for weeks. 4 Best Merchant Accounts For Collection Agencies 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. If they cannot claim the money back from the seller, then the merchant account provider will have to pay these fees. Upon cancellation after over 4 years I returned the machine in good order. 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. STAY AWAY. Stay away from Themechantsolution!!! Worse company ever. All they do is to get you sign up the contract, but be sure to read the fine print on auto renew, they will auto renew you into another contract even their machine never works. Wehave not found any outstanding class-action lawsuits or FTC complaints filed against The Merchant Solutions. After being a member of The Merchant Solutions for over 10 years I discovered (by simple reviewing the statements) the December invoice had the following charges. Signature not by me, computer generated. This Post Might Help: Cancelling a Merchant Account Without Paying a Fee. 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. The types of collections that different agents and agencies deal with, though, can vary widely. Banks consider collection agencies as high-risk for several reasons, the first of which being the sometimes-negative public perception of the debt collection industry. Try PaymentCloud. The merchant account providers POS systems and card readers as well as its excellent integration capabilities are thankfully easy to navigate with a strong reputation for standout customer service. The Merchant Solutions offers a variety of e-commerce services, Audit Your Current Statement To Find Its Hidden Fees. Agree with our rating?Tell us about your experience with The Merchant Solutions in the comment section below. Min. With EMB, you can enjoy chargeback management tools, payment gateways, and fraud filters. In Summary: 4 Best Merchant Accounts For Collection Agencies. The chargeback will be made against their account. Copyright 2020 eMerchant Authority | Website by JM Marketing. To support this enormous responsibility we earn some of our revenue through affiliate fees and advertising. These businesses are associated with a higher rate of risks related to payment processing and a large volume of chargebacks. Ready to integrate payment processing solutions into your new business? In the podcast below, Phillip explains how credit card processing and credit card fraud affects business owners. If they cannot guarantee this, then you will likely not be offered a high-risk merchant account with that company. I am still waiting on on calls from their supervisors from last year. Exclusive Promo: PaymentCloud will give you $200 if they can't beat your current rate. Advertiser Disclosure: Our unbiased reviews and content are supported in part by. Its just a penalty fee that they add on you for leaving their company. They refuse to close the account saying they will charge me $495.00 early termination feefor an account that has been opened with a copy of the contract from my real account. I am still trying to get that back. $35.00 I am looking to upgrade 4 of my restaurants systems. In the United States, all debt collection companies will need to conform to the Fair Debt Collection Practices Act (FDCPA). 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. Before sharing sensitive information, make sure youre on a federal government site. Better look for alternatives. Both were resolved to the dissatisfaction of the merchant or received no final response. Square is a top choice for POS for any type of business. We also encourage merchants to check out our list of the providers of the best merchant accounts. 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. 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. This is very dishonest company with deceptive business practices. Common themes include undisclosed fees, difficulty reaching a representative, problems with leased equipment, and termination or restocking fees in excess of $900. Kim, this just happened to me and I wanted to see if you had any outcome in your situation. Of course, we will provide you with all of the tools that you need to process payments. Find the resources you need to understand how consumer protection law impacts your business. All debt collectors track down past-due debts that businesses and consumers owe. The second your merchant account closes down is the second that you are no longer able to accept payments for your company. 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. They have fees for everything when you cancel or have to end your contract early. 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. Get your cash flowing again with our Merchant Cash Advance debt recovery solutions. 53 of these reviews are positive, while the remaining 5 reviews are negative. Collection agencies need a stable merchant account to let their customers pay off past-due debts with a credit card or e-check. Still interested? Suite 209 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. for lack of use and Merchants want 490 dollars to terminate service. I had to close the account, due to poor sales results. Credit Card Processing for Debt Collection Businesses This credit card processing company is HORRIBLE! Several complainants outright accuse the company of being a ripoff or a scam operation. Our proven investigation tools help us create fast and effective debt recovery services. 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. Very shady business practices and a very deceptive sales process. Merchant Mavericks ratings are editorial in nature, and are not aggregated from user reviews. Dont believe anything their salesman tells you on the phone as they will lie to you endlessly and then screw you later. No mention of 3 year contract and no proof of it. Merchant Mavericks ratings are not influenced by affiliate partnerships. Youll need a robust suite of hardware and services to accept payments online and over the phone, if so. 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. My contract ends in January 2015 and I am looking forward to it. This company, Merchant Solutions, is a fraud. We may earn revenue if you obtain services from a provider that we recommend. Then to my horror these con-artists actually refused to close my account and continue to send me monthly bills to this day. Were dedicated to B2B debt recovery. Disclaimer: Merchant Maverick aims to provide accurate and up-to-date information to assist you in your research. 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. Youll get your merchant account for your collection agency in as little as 24 48 hours. Remember; if you do not take the time to find a merchant account designed for high-risk businesses like yours, your company could lose its ability to process transactions overnight. 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. Learn how to resolve this complaint. Cancellation take place 30 days after the day is cancel and tones of ridiculous fee charged during those 30 days. While the process for applying for a merchant account with us is not instant, we have been doing this a long time. There are also several risk factors and legal issues that can complicate your decision when choosing the proper payment processor. 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. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); BE AWARE!! Its range of POS systems and card readers provide solutions for both card-present and card-not-present payment processing, which creates flexibility for various collection agency types. Do you feel like its the right time to start a collection agency? Fast turnaround: as little as 1-2 days. He has nearly two decades of experience in card payment services, both as a former merchant services sales representative and as a professional journalist covering the payments industry. If you are a small business owner avoid these crooks like the plague. Copyright 2023 eMerchantBroker, LLC. We can also provide the tools that you need to generate financial reports for any money passing through your merchant account. They charge you all kinds of fees which your not told about. To get a reliable and low-cost collection agency merchant account, you just need to turn to emerchantbroker.com. eMerchant Authority is a registered ISO of Woodforest National Bank, Houston, TX Member FDIC. When people stop paying, unpaid debts are sent to collection agencies These agencies go after debtors to recover the money for banks and creditors. Teaming with IVR Technology Group, we also provide pay-by-phone voice . These processors offer Quickbooks integration and have low rates. Are you with The Merchant Solutions? So, its no surprise that banks often deny them merchant accounts. You may be charged fees for using this account. the name of the creditor you owe it to. I would recommend not to do business with this company. If so, you may be a victim of United Merchant Asset Recovery debt collection harassment. when you cancel.Please take your business elsewhere. If you have already signed up with them, get out fast. The following is a sample list of complaints filed against United Merchant . This Post Might Help: Cancelling a Merchant Account Contract Without Paying a Fee. If you stop using it, they still charge you a lot of fees. TMS offers a dedicated support phone line and an email form on its website. I foolishly fell for the lies that were fed to me by one of The Merchant Solutions(TMS)sales representative. We are not being charged an ADDITIONAL $159.90 (received bill in the mail) with no explanation of what the fee (s) is for. As of right now, I have this company for falsifying documents, and felony forgery. eMerchantBroker.com. Wondering what else to consider as a high-risk merchant that needs a reliable merchant account provider? 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After I cancelled my account with them, they debited my account $50.00 to refurbish the terminal they provided free of charge. This means that you will be out of business. This form is for feedback only. They charge for any reason and they have a lot mistake they charge me before even i start with them for $28 and when i called them they said that was mistake they charge me $39 and $69 for annual fee and i just work with them a few days. 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. Since 2017, Noah has worked for federal, state, and commercial clients as a proposal writer, technical writer, copywriter, and analyst. Monthly Processing RangeUnder $1,000$1,000 - $5,000$5,000 - $25,000$25,000 - $50,000$50,000 - $100,000Over $100,000. 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. Ensure you understand the contract terms and all the costs involved with the credit card payments before you sign the contract. Our proven Merchant Cash Advance (MCA) default recovery solutions are proven to turn your delinquent accounts back into cash. Note: We have adjusted this companys BBB rating according to our own standards. Once the application process starts, we will find the best merchant account for you. eMerchantBroker.com is a Los Angeles, California-based company that offers high risk e-commerce processing solutions including debt collection merchant accounts.The company's products include ACH processing, an online payment gateway, merchant cash advance, and a chargeback management system to help merchants dispute and resolve chargeback claims. Copyright 2023 eMerchantBroker, LLC. 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. Which Business Bank Account is Right For You? Im so glad I read these before making a huge mistake. This post will help: How to Get Out of a Merchant Account Contract. They are thieves because they stole money from my account and wont make it right with me. So then I cancelled and they charged me a $945 restocking reprogramming fee? 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! EMB is voted the top high risk processor in the US and has an A+ rating with the BBB. : 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. 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! Learn more about your rights as a consumer and how to spot and avoid scams. 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. This company is deceitful. Both were resolved to the dissatisfaction of the merchant or received no final response. 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. Payment plans, too, are transparent and predictable enough for even very small debt collection businesses to quickly parse through and understand. Annual PCI Fee $99.00 These merchant account providers offer high-risk businesses like collection agencies a square deal when it comes to payment processing. That said, rather than try to sign you up for an overpriced equipment lease, Durango offers terminals, PIN pads, and mobile card swipers for direct sale on its website, and its payments gateway is a proprietary product. After he review my merchant statement he promised me that Im going to save $100.00 a month, I signed & cross the $495.00 early termination fee & initial the pages. This is an attempt to collect a debt and any . 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. Screw this place I wish their was a way we could put them out of business. They will not return my phone calls now. 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. Home (425) 643-2613 (800) 755-1107. 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. Total $247.95. I was to have 1 account with Merchant Solutions ! Were never worried about our overdue receivables. said no business ever. 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. Needless to say, I immediately sent the keypad and tracking revealed they received it in 3 days. These people called me for weeks and sent me all kinds of sales materials when my business started. But unlike other financial transactions, you don't have time to spend phoning and e-mailing. if anyone do business with this scums be prepared to have a high blood pressure. 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. They round up everything, even when they shouldnt according to elementary mathematics! Youll first need to navigate the logistics of processing different customer payment types with different pieces of hardware.
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