The Merchant Solutions is a fraud, it is an unprofessional, unethical company simple looking to scam anyone who falls for their lies. If your business has been turned away and you need to process credit card payments, you can turn to a reputable merchant account provider like emerchantbroker.com. Maintaining these ratios is challenging for merchants in many industries. The market research firm IBIS World reports that the debt collection industry represented a $13 billion market in the US as of May 2013. Specifically, consumer complaint activity alleges this business claims to be a law firm attempting to collect on debts that. Teaming with IVR Technology Group, we also provide pay-by-phone voice . Lending and Debt Repayment Merchant Accounts. Click here to earn a reward. 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.. 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. These actions contribute to a negative public perception of the industry and demonstrate to some banks offering merchant accounts that the businesses in the collections industry are high-risk. WOW, I wish there is a -star to rate this company, when i first started using my pos, it kept taking the money i received from my clients to a different bank account in a different state, and it took them 3 months to fix this and get my money back. Monthly Processing Range They are thieves because they stole money from my account and wont make it right with me. Our 24/7 customer support team is always on call to answer your questions and attend to your needs. I cant seem to get anywhere with phone calls to the company and have been shuffled around so much that I think everyone that answers the phone is a supervisorbecause that is always what the last person tells me they are transferring me to. Debt collection abuses cause harms that financially vulnerable consumers can ill afford. Payment gateways transmit data between an agencys point of transaction and the receiving payment processor. I was never given a written contract had computer generated signature. With our underwriting services in place, you can enjoy a much greater success chance of obtaining a merchant account with one of these banks. The creditor may also hire a debt collector or sell the debt to someone who may try to collect the debt. 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. Pure scam artists just looking to steal your hard earned money. See Who The Worst Processors Are. Either the sales agent or someone at Merchant Solutions copied my contract changed the account numbers and other information to open a second account that involved a terminal. The sole purpose of the material presented herein is to alert, educate, and inform readers. 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. I was skeptical and decided not to switch to merchant solutions. If your company is in the business of collecting debts, then you will need to have some way to process payments. The types of collections that different agents and agencies deal with, though, can vary widely. She also helped us to file our annual PCI compliance saving us about $40 per month. Instabill offers credit card terminals albeit with little information concerning specific terminal models or features on its website. A powerful, two-screen point of sale (POS) system that allows merchants to run their business . 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. MERCHANT SOLUTIONS GROUP OPENS DOORS Business owners need capital to grow and manage their companies. The collector has to tell you four pieces of information. Avoid this outfit as they will make your life miserable. eMerchant Authority specializes in merchant accounts for high-risk businesses; this includes debt collection agencies. PayKings comes with exclusively tiered pricing plans and only applies lower processing rates to certain qualifying transactions. They stealing $1000.00 dollars from my account. As is the case with our other top choices for debt collection merchant account providers, Soar supports systems for chargeback management and fraud prevention that can make or break the long-term success of any type of collection agency. At this point, I am looking for a new processor . Home; Services Healthcare Services; Consumer Business Collections . Square is a top choice for POS for any type of business. Once the application process starts, we will find the best merchant account for you. Monthly Processing RangeUnder $1,000$1,000 - $5,000$5,000 - $25,000$25,000 - $50,000$50,000 - $100,000Over $100,000. The sales rep is manipulative and they never disclosed a 400$ cancellation fee or an annual fee. To get a reliable and low-cost collection agency merchant account, you just need to turn to emerchantbroker.com. So, its no surprise that banks often deny them merchant accounts. They also debited my account for $395.00 for a cancellation fee even though I cancelled my account 4 months after my contract was over!!! Whatever type of debt collection your business operates in, we are confident that we can find a high-risk merchant account for you. They are charging me a huge fee to cancel. Stay away from Themechantsolution!!! Its just a penalty fee that they add on you for leaving their company. They even familiarize you with techniques and systems that keep customers satisfied and less likely to initiate chargebacks. Their customer service is terrible, they are never reachable. Collection agencies that process mostly credit card payments should keep an eye out for merchant account providers that support virtual terminals. Payment gateways offer an additional level of protection compared to virtual terminals by encrypting payment information before transmitting it to an acquiring bank. service provider that has expertise in high-risk merchant A business that accepts credit cards for goods or services. The collections industry demands compliance with federal and state-level regulations, and payment processors should be able to facilitate easy compliance for debt collectors. Debt collectors that are trained properly cannot act in a false or misleading manner in an effort to get you to pay. Telephone: (818) 409-6000. It was revoked by State of TN. Just yesterday, The Merchant Solutions sent me a new bill for $114 just for February account administration fees alone, even though I returned their machine in mid January and directed them to close my account immediately in January. The payment processors tiered pricing plan increases processing rates for non-qualified and mid-qualified transactions as well, which can be particularly constricting for very new collection agencies. I have proof of all deductions after I cancelled. Additional rates and fees, including a technical support fee may apply. Upon cancellation after over 4 years I returned the machine in good order. 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. Numerous calls went straight to voicemail without any return calls. They want me to pay almost $900.00 for equipment I dont use. 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. Every review above has happened to me too exactly like the above. Total $247.95. 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. I have never had any other merchant?! A recent negative review mentions poor sales techniques: Merchants that are worried about undesirable fees being added to their contracts should review which contract terms to avoid. A full point-of-sale (POS) system in one sleek package. 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. 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. Getting paid to re-write this page? for lack of use and Merchants want 490 dollars to terminate service. Find Loan Options For Your Small Business. Merchant Mavericks ratings are not influenced by affiliate partnerships. Such a provider will have a better understanding of the challenges facing your industry, and they may even advise on how to solve such issues. The vendors that appear on this list were chosen by subject matter experts on the basis of product quality, wide usage and availability, and positive reputation. If you are thinking of signing up with them just read the BBB website with all the complaints against them and read how they arrogantly respond and refuse to ever admit they are wrong. Whether you are looking for a Full Services Provider, Second Look Vendor, or collection consultant, Sequoia's services are tailored to meet your needs. To my surprise after trying them out I was told that I had signed a 3 yr contract with a $350 termination fee. Although their websites navigability can be clunky, PaymentClouds history of few public complaints and excellent track record for customer support suggest that overall, it is a helpful and easy-to-work-with payment processor. There is PayPal and Square, why would me, a small tiny business ever agree to such a thing I wouldnt. 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. Our experienced attorneys can help you come up with a strategy to deal with your debt while keeping your business running. This does not compare favorably to our list of best credit card processors. I paid $99 for $1000 and for another $1000 i paid $119 it means more than 10% As is the case with other industries that fall into the high-risk category, collection agencies operate in an unstable regulatory climate and unfortunately experience a higher risk of unreliable streams of income. We spoke with ANAIS today and were helped with understanding the rates. I will report this matter to BBB about their sales / marketing strategy for omitting such cancellation fee info. dont believe what they tell you Get Your Quote. He was patient and knowledgeable and I am more than pleased with the assistance I receive from the Merchant Solutions. eMerchant Authority operates an in-house underwriting team. They changed my contract, billed me a ton more without giving me an opportunity to opt out. I got the notification in the mail 2 FULL DAYS AFTER they had billed me. I am still waiting on on calls from their supervisors from last year. Ex. 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!! Worse company ever. how much money you owe. The site is secure. If you are a small business owner avoid these crooks like the plague. 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. Early penalty for cancellation. 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. 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. If they cannot claim the money back from the seller, then the merchant account provider will have to pay these fees. As of right now, I have this company for falsifying documents, and felony forgery. The companys rating is also impacted by its higher-than-average complaint total with the BBB. Nasty contract . My company is no longer doing business and I have not used the machine in 6 months. Annual PCI Fee $99.00 They are very rude and they will not correct the problem with me even though they said they would. Under federal law, a debt collector must send you a written validation notice within five days after they first contact you. Find the resources you need to understand how consumer protection law impacts your business. Keep your money you work for and dont use them. Get Started With Durango Merchant Services. 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. Flexible and transparent pricing suits high- and low-ticket agencies. 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. It's a cut throat industry. This is an attempt to collect a debt and any . Merchants can get more competitive contract pricing by instead going with a cheap merchant account provider. They Are Not truthful about their service. 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. Spot the latest COVID scams, get compliance guidance, and stay up to date on FTC actions during the pandemic. We enforce federal competition and consumer protection laws that prevent anticompetitive, deceptive, and unfair business practices. Check out our complete list of High-Risk Merchant Account Reviews for more traits that other top-performing high-risk specialists have in common. The majority of Americans use loans, credit cards, lines of credit to pay for their lifestyles. The company never disclosed high fees , fees for not taking a test, and excessive closing fees. Thats why weve broken down the basic features of the best merchant accounts for collection agencies and debt collectors. 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. Learn more about dealing with debt collection at ftc.gov/debt. 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. There are a bit more than 9.000 businesses in the industry that employ over 150.000 people. They do not inform you before they process the money out of your account, Which in my opinion is bad business practice. Its like they try to rip you off once last time b4 they let you go. 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. eMerchantBroker.com. And, likeseveral other merchants weve covered in this article, Soar doesnt publically disclose its pricing plans on its website. These are all fees that were started 8 months into my contract. If they cannot guarantee this, then you will likely not be offered a high-risk merchant account with that company. 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. Verify before you sign with this company. Due to the risky nature of your business the typical bank wont deal with you. 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. 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. The mobile POS solutions that Instabill offers can be relatively time-consuming to begin using as well since Instabill requires its users to create a separate account with its mobile processing partner, CardFlight, before they can accept mobile payments from multiple devices. 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. Many may find PaymentClouds organization of products on its website to be less than navigable. Let us know how well the content on this page solved your problem today. An official website of the United States government. PaymentCloud specializes in difficult-to-place merchant accounts for credit card processing. 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. Certain payment gateways services support ACH payments and may be included as part of a payment processors list of basic services. Were never worried about our overdue receivables. said no business ever. They need to know that if they are going to be offering you services that there is a strong chance that they will get their money back in the event of a chargeback. No doubt necessary to achieve any success, as the sales person was barely literate. the name of the creditor you owe it to. 53 of these reviews are positive, while the remaining 5 reviews are negative. Don't Fall Into An Expensive Trap. eMerchant Authority is a registered ISO of Woodforest National Bank, Houston, TX Member FDIC. 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. I am still trying to get that back. I DO RECOMMEND THAT YOU DO NOT ATTEMPT TO USE THEIR SERVICES!! Do you feel like its the right time to start a collection agency? We can also provide the tools that you need to generate financial reports for any money passing through your merchant account. I left MerchantSolutions a number of months ago, even though it cost me remaining monthly fees until my contract expires. That doesnt count the canclelation fee that coming up from them. services due to the high risk associated with debt collection businesses. The worst company to do business with ever!!!! These customer chargebacks can make acquiring banks wary of approving merchant account applications from debt collectors. Monthly Fee $25.00 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. This company and its employees are rude, I have been trying to cancel and they make it difficult. For this reason, they are often linked to high complaint totals. 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. 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 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. I got a shock when they deducted total of $1000.00 from my account in 4 payments. They said they are the cheapest one but they are not. They Rip you off way more than wat they told you they would charged. This Post Might Help: Cancelling a Merchant Account Contract Without Paying a Fee. The reason why most high-risk merchant account providers are so strict during their application process is because of the nature of the debt collection business. 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. Biggest rip-off company, holding my $ 2500 in the name of government, one employee working all the time and dont know ownership of this company , dont sign any account with this company, This post will help: How to Make Your Payment Processor Release Your Money. 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%. 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! This is a business that is rife with fraud and chargebacks. They charge you all kinds of fees which your not told about. Min. This company should not be allowed to do business. There are a bit more than 9.000 businesses in the industry that employ over 150.000 people. Were dedicated to B2B debt recovery.
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