Try PaymentCloud. Host Merchant Services caters well to collection agencies with various business models due to its specialized accounts with customized pricing for large- and small-ticket agencies as well as nonprofits. Whether you are looking for a Full Services Provider, Second Look Vendor, or collection consultant, Sequoia's services are tailored to meet your needs. Exclusive Promo: PaymentCloud will give you $200 if they can't beat your current rate. All feedback, positive or negative, helps us to improve the way we help small businesses. If so, you may be a victim of United Merchant Asset Recovery debt collection harassment. In addition to those 2 complaints, the company has received 58 informal reviews. service to inform clients in a respectful and professional manner of the status of their account before it becomes bad debt. They, by their own admission, billed me for numerous new and unauthorized charges that were not in my contract, and then sent me an opt out form 2 FULL DAYS AFTER the charges cleared, and refused to refund my account or cancel my service in light of their unscrupulous activity. Phillip Parker is an independent digital payment consultant specializing U.S. and Canadian point-of-sale, ecommerce, and mobile payment acceptance. Here Are The Processors Who Don't Hide Fees. Merchant Mavericks ratings are not influenced by affiliate partnerships. Only. Payment gateways transmit data between an agencys point of transaction and the receiving payment processor. The Merchant Solutions is a fraud, it is an unprofessional, unethical company simple looking to scam anyone who falls for their lies. 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. Then I began getting charged a PCI non compliant fee $40.00. Comp Admin Fee $9.95 If that happens, then it will be the merchant account provider on the line. If you are a small business owner avoid these crooks like the plague. 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. To know the right provider, here are factors to consider when looking for a debt collection agency for your debt collection business. We can also provide the tools that you need to generate financial reports for any money passing through your merchant account. Of course, we will provide you with all of the tools that you need to process payments. Problems logging in? Look out for credit card processors who offer other merchant solutions that could be useful for your business. The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. This means that you will need both a payment processor and a merchant account. Better look for alternatives. Get Your Quote. For new business owners who place a particular focus on hands-on customer service, PaymentCloud offers dedicated account representatives available to you throughout the lifetime of your account. Unfortunately, some credit card processors who offer such services will add unnecessary fees, while others will have vague contract clauses for their high-risk clients. I had joined Merchant Solutions because they told me there is no contract and no charge for the machine. They Are Not truthful about their service. They have terrible reviews on google and many many complains on BBB. Our services are secure and reliable. Learn more about your rights as a consumer and how to spot and avoid scams. These businesses are associated with a higher rate of risks related to payment processing and a large volume of chargebacks. Were never worried about our overdue receivables. said no business ever. No doubt necessary to achieve any success, as the sales person was barely literate. They get you sign up with them for a minimum fees and after few months they hit you with 7% fees. 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 can help you to seamlessly integrate eMerchant Authority payment solutions into your business. 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. Which Collection Agency Merchant Account Is Right For My Business? Spot the latest COVID scams, get compliance guidance, and stay up to date on FTC actions during the pandemic. 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. 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. In the United States, all debt collection companies will need to conform to the Fair Debt Collection Practices Act (FDCPA). Telephone: (818) 409-6000. I have been in contact with them for months now, and they still cannot give me a justifiable answer. This post will help: Cancelling a Merchant Account Without Paying a Fee. He has also researched and published reviews about nearly every payment services provider and processor. Don't Fall Into An Expensive Trap. Debt collection abuses cause harms that financially vulnerable consumers can ill afford. I hope there will be a class action lawsuit and I plan to be a part of it. Requirements: 600+ credit score, 12+ months in business and $100,000+ revenue. THIS WAS A TOTAL LIE. Save yourself stress and aggravation and sign up with a different processor. You want a merchant account provider who has the experience and more so one with experience working with high-risk industries like yours. Suite 209 Dont give them, or their mother company, First Data, your business!!! If you are in the debt collection business, then you may find it very difficult to obtain a merchant account. 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. Soar offers an automated application process online that takes minutes to complete and provides merchants with a quote after the fact. This Post Might Help: Best Restaurant Merchant Accounts. 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! The Merchant Solutions provides credit card, debit card, EBT, gift card, ATM, and check acceptance. It isnt just the finances of your business that they pay attention to either. We have located one complaint online claiming that TMS is a reseller of Global Payments contracts, but we were unable to verify this claim as of this update. 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. for lack of use and Merchants want 490 dollars to terminate service. Therefore, if you plan on accepting ACH payments online, youll likely need a payment gateway. If anyone has a better option please let me know. Noah is a writer and content creator currently living in Fairfax, VA. As of right now, I have this company for falsifying documents, and felony forgery. I was to have 1 account with Merchant 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. 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). From The Editor Get your cash flowing again with our Merchant Cash Advance debt recovery solutions. PaymentCloud specializes in difficult-to-place merchant accounts for credit card processing. The company is headquartered at 22801 Ventura Boulevard Suite 300, Woodland Hills, California 91364. 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. This means that the process is fast. A lot of other company with no contract and fees to work with out there. Youre also working with a business that knows your problem and has the fix. The sales rep never returned my calls and is no longer with thw company. STAY AWAY. We occasionally send out emails with special offers. This means that you will be out of business. There are a bit more than 9.000 businesses in the industry that employ over 150.000 people. We are not being charged an ADDITIONAL $159.90 (received bill in the mail) with no explanation of what the fee (s) is for. Do not give them your business. That means we spend every day sharpening our tools and providing the know-how to efficiently resolve delinquencies and liquidate 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!!! 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. 1008 Mattlind Way. Since these banks know and trust the quality of our services, they will be able to trust you too. PaymentCloud doesnt publically disclose its pricing on its website, which can make it more difficult for new collection agencies to accurately project their startup costs. At this point, I am looking for a new processor . Call us now on 877-700-5790 for further assistance. Merchants are advised to thoroughly review their merchant agreements with The Merchant Solutions and to renegotiate their contracts if hidden fees are suspected. 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. Call 1-888-288-2692. if anyone do business with this scums be prepared to have a high blood pressure. 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. Our integrations connect you with the best tools for your business. This credit card processing company is HORRIBLE! Ready to integrate payment processing solutions into your new business? Run, dont Walk, from the Hustler Con Artists at The Merchant Solutions. This company is deceitful. Home Blog High-Risk Merchant Accounts The Best Merchant Accounts For Collection Agencies & Debt Collectors, Save money on credit card processing with one of our top 5 picks for 2022. This form is for feedback only. They never have any answers and are only looking for ways to disconnect you. Get the truth here. Needless to say, I immediately sent the keypad and tracking revealed they received it in 3 days. Agree with our rating?Tell us about your experience with The Merchant Solutions in the comment section below. PayKings comes with exclusively tiered pricing plans and only applies lower processing rates to certain qualifying transactions. I wish I would have read some reviews before I sign up with these con artists. What out business owners out there about this Merchant Solutions. BE AWARE!!! This is according to the 2016 American Household Credit Card Debt Study by Nerd Wallet. High-risk specialist Durango Merchant Services ability to place accounts for merchants with histories of excessive chargebacks is invaluable to new collection agencies. 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. 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. PaymentCloud provides users with advice on choosing a chargeback management service and fraud mitigation service. I am looking to upgrade 4 of my restaurants systems. Toll free: (888) 544-9711. EMB is voted the top high risk processor in the US and has an A+ rating with the BBB. Suggest you consider that Paymentech and many others do not charge this. The .gov means its official. please dont sign up and let people know about that. Once the application process starts, we will find the best merchant account for you. Looking for legal documents or records? Why would we want a service we couldnt use? Search the Legal Library instead. Austin Smith was very knowledgeable and helpful! Suggestion to get rid of them is to block them from your bank account, thats how they suggested getting out of a current contract! This means that your business will be making a lot more profit for each transaction. Verify before you sign with this company. 180 Maiden Lane, 15th Floor. 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. In the podcast below, Phillip explains how credit card processing and credit card fraud affects business owners. $695 for early termination,$1500 programming fee, I have never hear of any company charging a programming fee. 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. 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. Additional rates and fees, including a technical support fee may apply. They are thieves because they stole money from my account and wont make it right with me. The Merchant Solutions is definitely THE worst credit card company EVER!!!! There are more than 50 negative The Merchant Solutions reviews on this and other consumer protection websites, and many of these The Merchant Solutions complaints have been posted within a year of this update. By keeping the risk of chargebacks and fraud to the absolute minimum, your business can benefit. These people are the biggest crooks Ive ever encountered. Fortunately, there are providers willing and able to help. 844-66-CFGMS (844-662-3467) The company never disclosed high fees , fees for not taking a test, and excessive closing fees. 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. this will happen if you change to another company. We spoke with ANAIS today and were helped with understanding the rates. If you have your own The Merchant Solutions review to make, please do so in the comments below. Higher cost than explained in solicitations I was never told about a restocking fee and some other charge until I got ready to cancel. If you have already signed up with them, get out fast. Phone number: (302) 241-0686. There is no monthly fee but there is a monthly minimum fee meaning if you dont process the requirement you are charged that fee. This means that our job is to reduce the risk of any transactions for the merchant bank. eMerchant Authority works exclusively with businesses, such as credit repair companies, that have been deemed to be high-risk clients. Payment plans, too, are transparent and predictable enough for even very small debt collection businesses to quickly parse through and understand. Federal government websites often end in .gov or .mil. PaymentCloud helps merchants navigate the necessary steps to become PCI-compliant within 90 days and without charging a PCI compliance fee. These are all fees that were started 8 months into my contract. A collector has to give you "validation information" about the debt, either during the collector's first phone call with you or in writing within five days after first contacting you. Youll get your merchant account for your collection agency in as little as 24 48 hours. 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. Shortly after receiving the product we received an email notifying of the $2.50 monthly fee AND .5 per transaction fee on top of the 2.65%. They dont deserve a BBB rating they suck!!!! The risks related to your business will be assessed by underwriters. It took me 2 weeks of calling NON-STOP to get any response. I would not recommend TMS to my worst enemies. As you're checking out a debt collection call, remember: don't respond to threats. HORRIBLE ! These revenues in no way influence our ratings or reviews. RUN! I will report this matter to BBB about their sales / marketing strategy for omitting such cancellation fee info. Recovery Solutions Group, LLC (RSG) Contact Information. He has a BA in Creative Writing and a Minor in German from Goucher College. I signed up with another company, Triumph Merchant Solutions NOT this company yet this company has illegally debited my account without authorization. Pure scam artists just looking to steal your hard earned money. Your Merchant Cash Advances help commercial businesses succeed. We also encourage merchants to check out our list of the providers of the, This does not compare favorably to our list of, What Others Are Saying About The Merchant Solutions, Send me an email notification when someone replies to my comment. eMerchant Authority specializes in merchant accounts for high-risk businesses; this includes debt collection agencies. The rule clarifies how debt collectors can communicate with you, including what information they're required to provide you. They will tell you that there are no hidden fees and no extra charges. A full point-of-sale (POS) system in one sleek package. They are charging me a huge fee to cancel. You will be far too high of a risk to work with. Instead, it appears merchants must contact the company directly to learn more about the exact terms of this promotion. We take great pride in providing one of the only objective an unbiased merchant account review websites on the internet. When I wanted to cancel they wouldnt send me the cancellation form for weeks. When banks determine a businesss risk status, they consider that businesss complete history of chargebacks. They are beyond shady and dont care at all about customer service!!! As a debt collection agency is a high risk merchant due to the increased chances of fraud or chargebacks, Merchant Processing Advisors can find merchant . Although Soars $495 early termination fee (for some accounts) may be steep, the termination fee is voided after the initial contract period. Find Loan Options For Your Small Business. 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. Note: We have adjusted this companys BBB rating according to our own standards. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations. BEWARE OF THESE DOGS! 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. Then to my horror these con-artists actually refused to close my account and continue to send me monthly bills to this day. Trouble Getting Approved? Specifically, consumer complaint activity alleges this business claims to be a law firm attempting to collect on debts that. 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. 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!! A collection agency merchant account is classified as high risk for a number of reasons. Other companies may just outright decline your application. . 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. Copyright 2023 Merchant Maverick. This means that you cannot work with companies like PayPal or Square. They refuse to refund the money. This is an attempt to collect a debt and any . Merchant account providers know that there will always be a bit of a risk dealing with debt collection agencies. Since debt collection merchants are considered high risk, traditional banks and other financial institutions usually try to stay away from this type of businesses. Also when you call they have no customer service and are rude on the phone. 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. Do you feel like its the right time to start a collection agency? Going to BBB and will get attorney if I have to. It is worth noting that being a high-risk company does not mean that your application for a merchant account will always be rejected. Learn more about dealing with debt collection at ftc.gov/debt. This is Uncle Fried Chicken LLC, and The Merchant Solutions are scammers and dont follow their own contract rules. The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely. When I explained to the representative that my business is not making any money she did not care, but wanted to know where to send the cancellation to withdraw the fee. The Signature page of the second contract is an EXACT COPY of the account I did open. They Rip you off way more than wat they told you they would charged. MERCHANT SOLUTIONS GROUP OPENS DOORS Business owners need capital to grow and manage their companies. Their hidden fees are through the roof. My company is a small business that processes $200000.00 a year with this processor,,I have the right to question a fee But KURT didnt think so.I have contacted MS on other occasions and received less than favorable customer service. Collection agencies need a stable merchant account to let their customers pay off past-due debts with a credit card or e-check. processing as well as the collections industry, in order to support compliance and best practices adherence . the name of the creditor you owe it to. The worst company to do business with ever!!!! Very shady business practices and a very deceptive sales process. 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. Seeking to take them to court for their theft. Worse company ever. Square is a top choice for POS for any type of business. eMerchantBroker is a registered ISO/MSP of BMO Harris Bank, NA, Schaumburg, Illinois. : 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. They may require you to constantly have reserve cash in your account. After the application an account was initiated and our company began receiving charges, despite a lack of consent on my end and zero activity on the account. New York, NY 10038. Tayne Law Group is a New York-based debt resolution law firm that helps small business owners resolve debts of all sizes. Debt collectors that typically process credit card payments rather than alternative transactions such as ACH payments should nevertheless choose a payment processor that supports options for electric check processing and fraud detection. This field is for validation purposes and should be left unchanged. Businesses need cash: Restaurants, Bars & Hotels Automotive Salons & Day Spas Doctors, Dentists & Vets Franchises & more This means that you could, effectively, lose your ability to run your business. Annual PCI Fee $99.00 Copyright 2023 eMerchantBroker, LLC. These companies and people are banned, by federal court orders, from participating in the business of debt collection. 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. The Clover name and logo are owned by Clover Network, Inc. a wholly owned subsidiary of First Data corporation, and are registered or used in the U.S. and many foreign countries. 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. If you stop using it, they still charge you a lot of fees. 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. Do not believe anything they say about their service. Payment Processing . They have hired unqualified reps who dont know how to initiate talks with a new business, seems like working for paycheck only, doesnt seem they take ownership in helping future customers. 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. I DO RECOMMEND THAT YOU DO NOT ATTEMPT TO USE THEIR SERVICES!! 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. when you cancel.Please take your business elsewhere. Lots of hidden fees that other companies dont charge! 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. My contract ends in January 2015 and I am looking forward to it. Durango combats consumer-related fraud with anti-fraud protections such as Verified by Visa, Mastercard SecureCode, Fraud Scrubbing, and EMV 3d Secure 2.0. There are zero termination penalties or contract fees for agencies using Host Merchant Services, and disclosures of processing rates and account fees online provide a welcome amount of pricing transparency.

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