They may even have maximum limits to any transactions that you complete. Today they transferred $70 out of the bank account which now has been shut down over theyre crazy charges. We have located multiple The Merchant Solutions customer service numbers: (888) 707-2836 Toll-Free Customer Support/Sales Neither of these 2 complaints was resolved by the company to the satisfaction of the merchant. for lack of use and Merchants want 490 dollars to terminate service. As you're checking out a debt collection call, remember: don't respond to threats. 53 of these reviews are positive, while the remaining 5 reviews are negative. However, pricing is not disclosed on either of those services. Specialized account support for multiple collection agency types. Here are other additional benefits that you receive when you apply for an internet merchant account with eMerchant Authority. Whether you're looking to save money on processing or to get approved for a merchant account, PaymentCloud can help. They even familiarize you with techniques and systems that keep customers satisfied and less likely to initiate chargebacks. Get Started With Durango Merchant Services. Should have know. 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. If so, you may be a victim of United Merchant Asset Recovery debt collection harassment. In addition to its storefront payment processing services, The Merchant Solutions also dedicates a portion of its website to advertising its virtual terminalandpayment gateway services. Debt collection businesses should partner with a merchant A business that accepts credit cards for goods or services. So not only was I billed WITHOUT my consent, but then they refused to refund more than half. Numerous calls went straight to voicemail without any return calls. 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. This means that you will be out of business. Flexible and transparent pricing suits high- and low-ticket agencies. Do not give them your business. Fax: (818) 707-7070. Check out their google and Yelp and RipOffReport.com reviews for the testimony of hundreds of other customers who have been ripped off by The Merchant Solutions! YOU WILL BE SORRY! Essentially, they steal from the customer. Easier borrower qualifications that help you build business credit. Abdulali Mithani is the CEO and chairman of The Merchant Solutions, though LinkedIn also lists a Zahra Mithani as CEO and a Taufia Mithani as CEO and chairman. I left MerchantSolutions a number of months ago, even though it cost me remaining monthly fees until my contract expires. It was revoked by State of TN. We may earn revenue if you obtain services from a provider that we recommend. Find Loan Options For Your Small Business. I foolishly fell for the lies that were fed to me by one of The Merchant Solutions(TMS)sales representative. They would take their sweet time to deposit my earnings but would immediately make unauthorized withdraws, even after my account had been closed. The market research firm IBIS World reports that the debt collection industry represented a $13 billion market in the US as of May 2013. A powerful, two-screen point of sale (POS) system that allows merchants to run their business . Also, youll be required to submit the following: Your collection agency must be legal when your applications are being reviewed by processors and underwriters. Stephanie T. Nguyen, Chief Technology Officer, Include spaces in matter number if applicable. I cant seem to get anywhere with phone calls to the company and have been shuffled around so much that I think everyone that answers the phone is a supervisorbecause that is always what the last person tells me they are transferring me to. Going to BBB and will get attorney if I have to. After youve signed up, you than learn there are more charges and feel which they will auto-deduct from your merchant account without notification. After i cancle my account they charged me 200$ come out of no where. I have filed a complaint with the bbb and am probably going to get a attorney to get my money back. Get your cash flowing again with our Merchant Cash Advance debt recovery solutions. Collection agencies need a stable merchant account to let their customers pay off past-due debts with a credit card or e-check. Merchant account providers know that there will always be a bit of a risk dealing with debt collection agencies. I, like everyone else on this thread, was charged outrageous fees and then told that I cannot m leave my contract after it ended because it auto renews. PaymentCloud can help almost any business get approved for payment processing. And because customer satisfaction is what we aim for, we offer ongoing support to all our customers. 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. Annual Fee $79.00 The Merchant Solutions also appears to resell the products of First Data (Fiserv). We occasionally send out emails with special offers. Its like they try to rip you off once last time b4 they let you go. 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 your company is in the business of collecting debts, then you will need to have some way to process payments. 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. This means that you will need both a payment processor and a merchant account. I should have closed my bank account the minute we closed our business so I could have avoided all of this. I have tried to use card reader several times without success. CFPB accused Encore Capital Group and Portfolio Recovery Associates Inc. of misleading and harassing consumers, which led .
How to look up licensees and those debt collectors allowed to do This is why we want to help you get the right debt collection merchant account from the very start. I have proof of all deductions after I cancelled. They never have any answers and are only looking for ways to disconnect you. the name of the creditor you owe it to. Annual PCI Fee $99.00 Other companies may just outright decline your application. In addition to its support for merchants who may be on the TMF or MATCH List, Durango also works to prevent chargebacks in the future with multiple reputable anti-fraud services. SAVE YOURSELF THE HEADACHE! Some merchant account providers may offer high fees. Required fields are marked *. You may be surprised to know that this is one of the top reasons why smaller companies end up having to shutter their doors. 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. 651-398-1636. If you are a small business owner avoid these crooks like the plague. This does not compare favorably to our list of best credit card processors. The drawbacks that render PayKings a less-than-perfect merchant account provider are similar to the drawbacks that come with eMerchantBroker. Lots of hidden fees that other companies dont charge! The competition is real with so many POS servicing company. Then to my horror these con-artists actually refused to close my account and continue to send me monthly bills to this day. I think I was the set up by Merchant Solutions. The majority of Americans use loans, credit cards, lines of credit to pay for their lifestyles. Youll get your merchant account for your collection agency in as little as 24 48 hours. *Rates quoted as the % above normal card interchange costs, dues, fees, and assessments. Toll free: (888) 544-9711. I signed up with another company, Triumph Merchant Solutions NOT this company yet this company has illegally debited my account without authorization. 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. That said, Host Merchant Services exclusively interchange-plus pricing plans may be cost-prohibitive for low-ticket and very new agencies. This field is for validation purposes and should be left unchanged. Strongly suggest that anyone does there homework and compare companies for this service. I had joined Merchant Solutions because they told me there is no contract and no charge for the machine. Were never worried about our overdue receivables. said no business ever. 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. Product & company names, logos, and trademarks referred to on this site belong to their respective owners. 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. They said they would beat my current rate but never could.
Merchants Solution Group | Better Business Bureau Profile They charge you all kinds of fees which your not told about. Monthly Processing Range
Merchant Services | Payment Processing Enterprise Solutions | Fiserv 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. This lack of transparency in pricing is typical of the industry in general. See Who The Worst Processors Are. Due to the unique processes that eMerchant Authority has in place, the risk of a chargeback is low. In light of the companys complaint total and resolution ratio, we have adjusted the BBBs rating to a C for the purposes of this review. Your business cannot opt for a standard merchant account here. Avoid this outfit as they will make your life miserable. They Rip you off way more than wat they told you they would charged. This company is nothing but a fraud. A full point-of-sale (POS) system in one sleek package. No doubt necessary to achieve any success, as the sales person was barely literate. HORRIBLE ! Our proven Merchant Cash Advance (MCA) default recovery solutions are proven to turn your delinquent accounts back into cash. Nasty contract . Virtual terminals let business owners access a secure web page to process their customer payments with a built-in dashboard thats similar to a physical card reader. As of right now, I have this company for falsifying documents, and felony forgery.
Merchant Cash Advance Debt Collection Services | Monetaria Fake and Abusive Debt Collectors | Consumer Advice They actually added 19 pages to our contract virtually and said we signed them 1 1/2 years after signing the original. It took me 2 weeks of calling NON-STOP to get any response. One The Merchant Solutions complaint mentions that TMS relies on Authorize.Net or PC Charge Pro for its online payment gateway; if this is the case, Authorize.nets payment gateway will be chargeda per-transaction fee of 2.90% plus $0.30 and a daily batch fee of $0.10 in addition to the $25 monthly gateway fee. They are thieves because they stole money from my account and wont make it right with me. Do not get trap by this company. 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. It is just one of the many ways that MS has cost me money unnecessarily, including missed charges, delayed refunds, poor customer service and unnecessary payments. This is why when you partner with us you also enjoy transparent pricing with no long-term contracts or hidden fees. DO NOT use this company. The Merchant Solutions offers a variety of e-commerce services, Audit Your Current Statement To Find Its Hidden Fees. The company is headquartered at 22801 Ventura Boulevard Suite 300, Woodland Hills, California 91364.
Credit card processing for debt collection agencies The chargeback will be made against their account. Their disclosure pricing on cancellation of service was not mentioned to me when I was docusigning the paperwork via Internet. Merchant Mavericks ratings are not influenced by affiliate partnerships. Certain payment gateways services support ACH payments and may be included as part of a payment processors list of basic services. I had signed up with them thinking they can offer me the lowest rates with a price beat guarantee. So, its no surprise that banks often deny them merchant accounts. Use our visualizations to explore scam and fraud trends in your state based on reports from consumers like you. Has representatives that open fradulent accounts. We spoke with ANAIS today and were helped with understanding the rates. This means that your company can process debit and credit card transactions, and it will do this for an affordable price. Signature not by me, computer generated. There is evidence that The Merchant Solutions utilizes independent sales agents in addition to online advertising to market its services. 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. Under federal law, a debt collector must send you a written validation notice within five days after they first contact you. By working with eMerchant Authority, this is a problem that can be avoided. Copyright 2023 eMerchantBroker, LLC. 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. This includes debt collection companies and debt buyers. High-risk specialist Durango Merchant Services ability to place accounts for merchants with histories of excessive chargebacks is invaluable to new collection agencies.
Seattle Collection Agency | Merchants Credit Association At Monetaria, we understand that your MCA agreements are time-sensitive. one year. You want a merchant account provider who has the experience and more so one with experience working with high-risk industries like yours. If you need help with rate and fee negotiations, payment integrations, cost optimization, or provider selection, schedule a consultation here. They get you sign up with them for a minimum fees and after few months they hit you with 7% fees. 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. In some cases, this leads to merchants contracting with debt collection agencies. They will give you false information over the phone and then tell you their salesperson had no authorization to give it. MERCHANT SOLUTIONS GROUP OPENS DOORS Business owners need capital to grow and manage their companies. 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. If you have already signed up with them, get out fast. 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.
Debt Collection Agency Merchant Account - PayKings The Merchant Solutions is a fraud, it is an unprofessional, unethical company simple looking to scam anyone who falls for their lies. Location & Ownership Thats why weve broken down the basic features of the best merchant accounts for collection agencies and debt collectors. when you cancel.Please take your business elsewhere. 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 Merchant Solutions rates as an average merchant services provider across the board according to our rating system. Collection agencies that process mostly credit card payments should keep an eye out for merchant account providers that support virtual terminals. I was to have 1 account with Merchant Solutions ! This Post Might Help: Best Restaurant Merchant Accounts. please dont sign up and let people know about that. Disclaimer: Merchant Maverick aims to provide accurate and up-to-date information to assist you in your research. 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. 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.
Sending Chargebacks to Debt Collection The Merchant Solutions provides credit card, debit card, EBT, gift card, ATM, and check acceptance. eMerchant Authority can help with this. With our underwriting services in place, you can enjoy a much greater success chance of obtaining a merchant account with one of these banks. 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! Such a vendor can be a great help for your debt collector business.
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. We can help your collection agency even if you've you been turned down by service providers in the past. Higher cost than explained in solicitations TMS offers a dedicated support phone line and an email form on its website. Let us know how well the content on this page solved your problem today. Teaming with IVR Technology Group, we also provide pay-by-phone voice . Our services are secure and reliable. eMerchant Authority works exclusively with businesses, such as credit repair companies, that have been deemed to be high-risk clients. The collector has to tell you four pieces of information. Thousand Oaks, CA 91362. I agreed to pay back the money that was owned. They really do not want to do this. Monthly Processing RangeUnder $1,000$1,000 - $5,000$5,000 - $25,000$25,000 - $50,000$50,000 - $100,000Over $100,000. JUST SAY NO. DO NOT EVEN talk to their salespeople. All feedback, positive or negative, helps us to improve the way we help small businesses. This is Uncle Fried Chicken LLC, and The Merchant Solutions are scammers and dont follow their own contract rules. All in all, the payment processors high-risk contract terms are reasonable even for lower-volume debt collectors. Seeking to take them to court for their theft. MerchantBroker is a registered ISO/MSP of BMO Harris Bank, NA, Schaumburg, Illinois. They will tell you that there are no hidden fees and no extra charges. Total $247.95. Respectable processors like EMB guarantee a fast, secure application process. He has a BA in Creative Writing and a Minor in German from Goucher College. They will not return my phone calls now. Our integrations connect you with the best tools for your business. Their charges are exhorbitant. You may be charged fees for using this account. 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.