Debt Collections Merchant Account Solutions - eMerchant Authority Neither of these 2 complaints was resolved by the company to the satisfaction of the merchant. The collector has to tell you four pieces of information. Debt Collection Merchant Accounts Cancellation take place 30 days after the day is cancel and tones of ridiculous fee charged during those 30 days. Maintaining these ratios is challenging for merchants in many industries. The sales rep never returned my calls and is no longer with thw company. Opens accounts with terms not agreed to. Dont believe anything their salesman tells you on the phone as they will lie to you endlessly and then screw you later. 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. The overall household debt for an average family increased by 11% . 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. Help us to improve by providing some feedback on your experience today. They actually added 19 pages to our contract virtually and said we signed them 1 1/2 years after signing the original. If you have your own The Merchant Solutions review to make, please do so in the comments below. I should have closed my bank account the minute we closed our business so I could have avoided all of this. I attempted to cancel my contract and they are trying to hit me with over $1000 in last min charges. High-risk specialist for U.S.-based collection agencies. DO NOT EVEN talk to their salespeople. Under federal law, a debt collector must send you a written validation notice within five days after they first contact you. . I am still trying to get that back. Provider of affordable payment processing hardware that can streamline various debt collection operations. 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. 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. The Merchant Solutions is definitely THE worst credit card company EVER!!!! What Debt Collectors & Collection Agencies Need To Know About Payment Processing, 6 Tips For Getting Your Collection Agency Merchant Services Approved. Debt Collection Agency Merchant Services, Collection Agency Credit Card Payment plans, too, are transparent and predictable enough for even very small debt collection businesses to quickly parse through and understand. Note: We have adjusted this companys BBB rating according to our own standards. 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. From The Editor They terminated my account for non use since I was using another company and had not transferred over yet. I would recommend not to do business with this company. 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. 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. I have never had any other merchant?! Many may find PaymentClouds organization of products on its website to be less than navigable. 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. These people called me for weeks and sent me all kinds of sales materials when my business started. The .gov means its official. Youll get your merchant account for your collection agency in as little as 24 48 hours. Clover is the company's proven solution that makes it easy for small businesses to accept payments and run their day-to-day operations, from reporting and inventory to invoicing and e-commerce. 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. Copyright 2023 Merchant Maverick. The following is a sample list of complaints filed against United Merchant . But unlike other financial transactions, you don't have time to spend phoning and e-mailing. Do not give them your business. 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. Instabills main draw is its services to high-risk international merchants that process offshore payments, although its support for brick-and-mortar agencies that need on-site payment processing leaves something to be desired. The merchant service provider should also be transparent about the requirements of working with your business and the circumstances under which they would terminate the contract. Therefore, if you plan on accepting ACH payments online, youll likely need a payment gateway. My request to talk to a supervisor and to review the contract I had supposely sign went unanswered. See Who The Worst Processors Are. I will report this matter to BBB about their sales / marketing strategy for omitting such cancellation fee info. You want a merchant account provider who has the experience and more so one with experience working with high-risk industries like yours. By keeping the risk of chargebacks and fraud to the absolute minimum, your business can benefit. They are crooks. Payment Processing . Copyright 2020 eMerchant Authority | Website by JM Marketing. 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. Stephanie T. Nguyen, Chief Technology Officer, Include spaces in matter number if applicable. 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. Note that we are not able to provide private consultations, give advice, or answer questions. They round up everything, even when they shouldnt according to elementary mathematics! The Merchant Solutions 2023: Reviews & Complaints - CardPaymentOptions.com 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. Looking for legal documents or records? I think I was the set up by Merchant Solutions. The companys rating is also impacted by its higher-than-average complaint total with the BBB. 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. 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. 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. When banks determine a businesss risk status, they consider that businesss complete history of chargebacks. Get your cash flowing again with our Merchant Cash Advance debt recovery solutions. 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. 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. The second your merchant account closes down is the second that you are no longer able to accept payments for your company. Home (425) 643-2613 (800) 755-1107. Help with PCI compliance is a godsend for businesses that operate in the highly regulated collections industry. There are a bit more than 9.000 businesses in the industry that employ over 150.000 people. Before You Switch Processors, Find Out How Other Businesses Got Fee Refunds From Their Current Processor. We have lowered the companys score in this section to a C to reflect this consistency. I foolishly fell for the lies that were fed to me by one of The Merchant Solutions(TMS)sales representative. And it was my fault for not reading the fine print on the documents. Learn how to resolve this complaint. This means that your business will be making a lot more profit for each transaction. 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! Also, youll be required to submit the following: Your collection agency must be legal when your applications are being reviewed by processors and underwriters. We work to advance government policies that protect consumers and promote competition. The second your merchant account closes down is the second that you are no longer able to accept payments for your company. per month so-called PCI-DSS Validation Fee , a $19 per month so-called Data Breach Security Program fee, plus kilobyte fees: fixed network CP Fee etc I immediately packed up their credit card machine and shipped it back to them with a written demand to close my account immediately. The rating of this company or service is based on the authors expert opinion and analysis of the product, and assessed and seconded by another subject matter expert on staff before publication. The competition is real with so many POS servicing company. Should have know. Their disclosure pricing on cancellation of service was not mentioned to me when I was docusigning the paperwork via Internet. However, pricing is not disclosed on either of those services. Get clarity before you switch. 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. Thanks ANAIS. Do not get trap by this company. 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. Excellent provider for collection agencies with a strong eCommerce presence. Soar partners with Chargeback.com to offer anti-chargeback features such as chargeback alert emails, services for fighting illegitimate chargebacks, and the iSpyFraud filter to detect fraud and suspicious transactions. processing as well as the collections industry, in order to support compliance and best practices adherence . : 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. I agreed to pay back the money that was owned. Here are other additional benefits that you receive when you apply for an internet merchant account with eMerchant Authority. The Merchant Solutions then hit me with a new $99 a year for a so-called PCI Compliance Program charge, a $35. Telephone: (818) 409-6000. From The Editor Same situation. Their charges are exhorbitant. Going to BBB and will get attorney if I have to. The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely. 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. Our services are secure and reliable. But some payment processors may provide only limited support for brick-and-mortar payment processing or may only provide specific processing hardware on a lease. 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. Horrible company. I had signed up with them thinking they can offer me the lowest rates with a price beat guarantee. Durango combats consumer-related fraud with anti-fraud protections such as Verified by Visa, Mastercard SecureCode, Fraud Scrubbing, and EMV 3d Secure 2.0. Debt collection abuses cause harms that financially vulnerable consumers can ill afford. service provider that has expertise in high-risk merchant A business that accepts credit cards for goods or services. Credit cards are, relative to ACH/EFT payments, more prone to chargebacks. He has a BA in Creative Writing and a Minor in German from Goucher College. Find legal resources and guidance to understand your business responsibilities and comply with the law. 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. they charged me $450 every month out of total 10k annual monthly. Requirements: 600+ credit score, 12+ months in business and $100,000+ revenue. My company is no longer doing business and I have not used the machine in 6 months. STAY AWAY. You almost certainly will not be able to work with companies like PayPal. 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. Debt Collection | Federal Trade Commission Merchants can get more competitive contract pricing by instead going with a cheap merchant account provider. 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. Stay away from Themechantsolution!!! 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. Exclusive Promo: PaymentCloud will give you $200 if they can't beat your current rate. Debt Collection FAQs | Consumer Advice Check out our complete list of High-Risk Merchant Account Reviews for more traits that other top-performing high-risk specialists have in common. Comp Admin Fee $9.95 After he review my merchant statement he promised me that Im going to save $100.00 a month, I signed & cross the $495.00 early termination fee & initial the pages. After i cancle my account they charged me 200$ come out of no where. if anyone do business with this scums be prepared to have a high blood pressure. However, these channels appear to fall short of the support levels offered by top-rated payment processors for customer service. It is not intended as legal or financial advice. Which Collection Agency Merchant Account Is Right For My Business? 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. They will give you false information over the phone and then tell you their salesperson had no authorization to give it. 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. In addition, they told us the transaction fee would be 2.65% of each purchase. With EMB, you can enjoy chargeback management tools, payment gateways, and fraud filters. The types of collections that different agents and agencies deal with, though, can vary widely. 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. 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. eMerchant Authority prides itself in being a leader when it comes to the provision of merchant account solutions. They dont deserve a BBB rating they suck!!!! If you have already signed up with them, get out fast. This is Uncle Fried Chicken LLC, and The Merchant Solutions are scammers and dont follow their own contract rules. Horrible company. If you are a small business owner avoid these crooks like the plague. These are charged beyond any percent fees. There is evidence that The Merchant Solutions utilizes independent sales agents in addition to online advertising to market its services. Better look for alternatives. Learn more about your rights as a consumer and how to spot and avoid scams. We occasionally send out emails with special offers. The company is headquartered at 22801 Ventura Boulevard Suite 300, Woodland Hills, California 91364. An official website of the United States government. 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. I was told thay my rates would be as low as 1.5%. Verify before you sign with this company. Independent sales agents are often paid by commission and are therefore motivated to sign merchants to the most expensive contract terms they can. * The terms and conditions of this promotion currently cannot be found on the website. Merchants are advised to thoroughly review their merchant agreements with The Merchant Solutions and to renegotiate their contracts if hidden fees are suspected. This company, Merchant Solutions, is a fraud. You may be surprised to know that this is one of the top reasons why smaller companies end up having to shutter their doors. 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. I was skeptical and decided not to switch to merchant solutions. This is an attempt to collect a debt and any . Has representatives that open fradulent accounts. We are on our 4th machines, the terminals are very light, and very cheap looking, they break all the time, but when you try to get out of the contract because of it, they will say something like, but we can trouble shoot for you. Youll need a robust suite of hardware and services to accept payments online and over the phone, if so. However, you need to hire a merchant debt collector account provider who offers merchant collection solutions that meet your company's needs.. To know the right provider, here are factors to consider when . Credit & Debt Collections Merchant Services - DigiPay Solutions Our proven investigation tools help us create fast and effective debt recovery services. Specifically, consumer complaint activity alleges this business claims to be a law firm attempting to collect on debts that. 53 of these reviews are positive, while the remaining 5 reviews are negative. 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. Save money with Merchant Solutions low processing rates and free terminal program. I left MerchantSolutions a number of months ago, even though it cost me remaining monthly fees until my contract expires. Keep your money you work for and dont use them. If you would like to interview Phillip for your story or podcast, please reach out here. In Summary: 4 Best Merchant Accounts For Collection Agencies. I have been with them since 2015 and in June,2019 I decided to go to a different processor. Problems logging in? I am looking to upgrade 4 of my restaurants systems. BBB received a pattern of complaints concerning collections practices. The drawbacks that render PayKings a less-than-perfect merchant account provider are similar to the drawbacks that come with eMerchantBroker. 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. It's a cut throat industry. We can help you to seamlessly integrate eMerchant Authority payment solutions into your business. they hurt me by taking un authorized money out of my account
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