merchant solutions group debt collection

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. The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely. These customer chargebacks can make acquiring banks wary of approving merchant account applications from debt collectors. From The Editor Provider of affordable payment processing hardware that can streamline various debt collection operations. they charged me $450 every month out of total 10k annual monthly. BBB received a pattern of complaints concerning collections practices. Has representatives that open fradulent accounts. Numerous calls went straight to voicemail without any return calls. Withdrew $900 from my account and told me that it was a $400 termination fee and $500 for the keypad. They are very rude and they will not correct the problem with me even though they said they would. In the United States, all debt collection companies will need to conform to the Fair Debt Collection Practices Act (FDCPA). Save yourself stress and aggravation and sign up with a different processor. Telephone: (818) 409-6000. this will happen if you change to another company. We were charged a $350 restocking fee after being told there would be NO FEES. STAY AWAY. We can also provide the tools that you need to generate financial reports for any money passing through your merchant account. Specialized account support for multiple collection agency types. The chargeback will be made against their account. Our experienced attorneys can help you come up with a strategy to deal with your debt while keeping your business running. Although users may request an interchange-plus pricing plan, PayKings non-transparent pricing and early termination fees can actually work against up-and-coming collection agencies that may not have a consistent stream of revenue. 100$ fee come out of no where every month, and when i called them they said that 100$ fee only apprea once a year. Strongly suggest that anyone does there homework and compare companies for this service. . Several complainants outright accuse the company of being a ripoff or a scam operation. I had signed up with them thinking they can offer me the lowest rates with a price beat guarantee. Debt Collection Industry and Merchant Accounts Both were resolved to the dissatisfaction of the merchant or received no final response. I was very skeptical and was sure that the contract did not disclose a 3yr aggreement or termination fee. Its website can be hard to use as well. The sales rep is manipulative and they never disclosed a 400$ cancellation fee or an annual fee. Our proven Merchant Cash Advance (MCA) default recovery solutions are proven to turn your delinquent accounts back into cash. Just ridiculous! The Best Merchant Accounts For Collection Agencies & Debt Collectors. They will not return my phone calls now. Search the Legal Library instead. Collection agencies need a stable merchant account to let their customers pay off past-due debts with a credit card or e-check. Debt Collections Merchant Account Solutions - eMerchant Authority Austin Smith was very knowledgeable and helpful! He is very knowledgeable and provided excellent support. Credit & Debt Collections Merchant Services - DigiPay Solutions After youve signed up, you than learn there are more charges and feel which they will auto-deduct from your merchant account without notification. The Merchant Solutions provides credit card, debit card, EBT, gift card, ATM, and check acceptance. With out so much as a single warning they withdrew ridiculously large amounts money from my amount, and were angered when I asked why. Memo from Chair Lina M. Khan to commission staff and commissioners regarding the vision and priorities for the FTC. That said, Host Merchant Services exclusively interchange-plus pricing plans may be cost-prohibitive for low-ticket and very new agencies. Don't Fall Into An Expensive Trap. In addition to those 2 complaints, the company has received 58 informal reviews. Note: We have adjusted this companys BBB rating according to our own standards. 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 . 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. Merchant account providers know that there will always be a bit of a risk dealing with debt collection agencies. one year. However, these channels appear to fall short of the support levels offered by top-rated payment processors for customer service. Merchant Card Advisors specializes in providing comprehensive merchant account services for high-risk businesses, including businesses in the debt collecting sector. 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.. 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. Its just a penalty fee that they add on you for leaving their company. 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 hurt me by taking un authorized money out of my account This company was nothing but deceitful from the beginning. Here Are The Processors Who Don't Hide Fees. The debt collector refers to themselves as an investigator, or that they will contact the investigator on your case. We also encourage merchants to check out our list of the providers of the best merchant accounts. eMerchant Authority is a registered ISO of Woodforest National Bank, Houston, TX Member FDIC. 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. Get Your Quote. Square is a top choice for POS for any type of business. Owe CFG Merchant Solutions? Learn More Here - Tayne Law Group 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. From The Editor 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. The rule clarifies how debt collectors can communicate with you, including what information they're required to provide you. 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. They really do not want to do this. Help with PCI compliance is a godsend for businesses that operate in the highly regulated collections industry. Copyright 2023 eMerchantBroker, LLC. Teaming with IVR Technology Group, we also provide pay-by-phone voice . This is Uncle Fried Chicken LLC, and The Merchant Solutions are scammers and dont follow their own contract rules. DO NOT EVEN talk to their salespeople. Merchant Solutions is a very dishonest processor. I am looking to upgrade 4 of my restaurants systems. Only. A lot of other company with no contract and fees to work with out there. Dont sign up or you will regret it at the end. Due to the high-risk nature of your business, most merchant account providers will ask you to jump through hoops if you want to work with them. Merchants Solution Group | Better Business Bureau Profile 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. Best Merchant Accounts for Debt Collection Agencies I signed up with another company, Triumph Merchant Solutions NOT this company yet this company has illegally debited my account without authorization. This company will be out of business in one year or less. Screw this place I wish their was a way we could put them out of business. Learn more about the new debt collection rule. Seattle Collection Agency | Merchants Credit Association Trouble Getting Approved? Dont believe anything their salesman tells you on the phone as they will lie to you endlessly and then screw you later. Get the truth here. the 24/7 support is fake, they never support you on weekends or after hours, NEVER finally i got my business closed and I was lucky someone bought my POS, because otherwise i had to pay 950 USD to them for cancelation, the funny thing is when i transferred the pos system to the other company name (the company that bought it) nobody told me that i should request a cancelation form to cancel my account, SO i ended paying 67 USD a month after the system was transferred and being used by their new client Finally i sent the cancellation form beginning of the month, 20 days later i called them and they said yes we received it, but you will be charged for the next month (67 USD) because that is our policy PLEASE NO ONE CHOOSE THIS COMPANY, THEY ARE REALLY BAD, THEY WILL STEAL YOUR MONEY AND YOU WILL KEEP PAYING THEM EVEN AFTER YOU END YOUR CONTRACT WITH THEM. The Merchant Solutions offers a variety of e-commerce services, Audit Your Current Statement To Find Its Hidden Fees. John in Customer Service was wonderful today with assisting me with the set up for my new Walker Bluetooth. The Merchant Solutions has been accredited with the Better Business Bureau since 2010 and currently has an A+ rating and has received 2 complaints in the past 36 months. New York, NY 10038. Credit card processing for debt collection agencies The sales rep promised that I had nothing to lose and that I can try it for 30 days and can cancel without any penalties. This company is deceitful. 844-66-CFGMS (844-662-3467) Its likely that Instabill offers terminals through a lease, which is nearly always more expensive than purchasing a terminal of your own in the long run. Now they have charged me with a PCA compliance processing fee of $149, payable annually. 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. 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. 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. Which Business Bank Account is Right For You? Get your cash flowing again with our Merchant Cash Advance debt recovery solutions. Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. This is why we want to help you get the right debt collection merchant account from the very start. Understand how the CFPB's Debt Collection Rule can help you. Debt Collection Agency Merchant Services, Collection Agency Credit Card This means that our job is to reduce the risk of any transactions for the merchant bank. I was to have 1 account with Merchant Solutions ! Advertiser Disclosure: Our unbiased reviews and content are supported in part by. This is an attempt to collect a debt and any . This field is for validation purposes and should be left unchanged. Read more below to learn why we chose these options. 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. For this reason, they are often linked to high complaint totals. Independent sales agents are often paid by commission and are therefore motivated to sign merchants to the most expensive contract terms they can. Nasty contract . 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. They Rip you off way more than wat they told you they would charged. Start by leaving a comment at the end of this review, Compare Top Rated Processors: Compare Rates, Reveal your hidden fees: Audit Your Statement, Working in merchant services: Our Free Guide. How To Know If A Debt Collector Is A Scam | Bankrate Requirements: 600+ credit score, 12+ months in business and $100,000+ revenue. These are charged beyond any percent fees. 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. The Merchant Solutions, founded in 1999, is a small merchant account provider based in Woodland Hills, California. AFNI Collections Agency Mailing Address: PO Box 3097Bloomington, IL 61702-3427 Phone: 866-352-0479 PFD: Yes https://www.afnicollections.com/ Alacrity Collections Corp. 1-800-355-2221 PFD: Unknown Aldous & Associates (1) 385-388-8005 PFD: Unknown All Debt Solutions, Inc. (774) 804-3328 PFD: Unknown Then I began getting charged a PCI non compliant fee $40.00. That means we spend every day sharpening our tools and providing the know-how to efficiently resolve delinquencies and liquidate accounts. Opens accounts with terms not agreed to. Click here for more product information. To the companys credit, the website for TMS does not appear to engage in any deceptive marketing tactics. Try PaymentCloud. If your company is in the business of collecting debts, then you will need to have some way to process payments. I DO RECOMMEND THAT YOU DO NOT ATTEMPT TO USE THEIR SERVICES!! I would not recommend TMS to my worst enemies. The second your merchant account closes down is the second that you are no longer able to accept payments for your company. When an account like a credit card, auto loan, or cell phone bill becomes past due, the original creditor may attempt to collect the amount owed. It is not intended as legal or financial advice. Your business cannot opt for a standard merchant account here. 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. Were dedicated to B2B debt recovery. Help us to improve by providing some feedback on your experience today. This means that you will need both a payment processor and a merchant account. Copyright 2023 Merchant Maverick. Then they sent me a replacement machine that I had absolutely no use for; they actually sent me the wrong machine and billed me for it. Payment plans, too, are transparent and predictable enough for even very small debt collection businesses to quickly parse through and understand. Flexible and transparent pricing suits high- and low-ticket agencies. Learn more about our monetization policies here. 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. TMS is a registered independent sales organization and member services provider (ISO/MSP) of Wells Fargo Bank, N.A., of Concord, California. So, its no surprise that banks often deny them merchant accounts. Although Soars $495 early termination fee (for some accounts) may be steep, the termination fee is voided after the initial contract period. Additional rates and fees, including a technical support fee may apply. On November 30, 2021, the Debt Collection Rule became effective. dont believe what they tell you Example: If you have a sale that is then multiplied by the discount rate, and it comes out to 1.62222, you will pay them 1.63. We spoke with ANAIS today and were helped with understanding the rates. Stay away from Themechantsolution!!! Merchant Cash Advance Debt Collection Services | Monetaria All Rights Reserved. i signed up a few weeks ago and havent been able to get into contact with them since. Both were resolved to the dissatisfaction of the merchant or received no final response. Sequoia Financial Services - 2021 Many may find PaymentClouds organization of products on its website to be less than navigable. Should have know. 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. 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. Fax: (818) 707-7070. And because customer satisfaction is what we aim for, we offer ongoing support to all our customers. I paid $99 for $1000 and for another $1000 i paid $119 it means more than 10% What Debt Collectors & Collection Agencies Need To Know About Payment Processing, 6 Tips For Getting Your Collection Agency Merchant Services Approved. Then to my horror these con-artists actually refused to close my account and continue to send me monthly bills to this day. Find Loan Options For Your Small Business. Many other high-risk merchants are notorious for offering card readers and monthly gateway fees, but Durango helps new collection agencies set themselves up for affordable success by making its hardware directly for sale online. Credit cards are, relative to ACH/EFT payments, more prone to chargebacks. This company is nothing but a fraud. 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). Merchants are advised to thoroughly review their merchant agreements with The Merchant Solutions and to renegotiate their contracts if hidden fees are suspected. Sending Chargebacks to Debt Collection The following is a sample list of complaints filed against United Merchant . 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. Annual PCI Fee $99.00 (800) 228-0210 Technical Support, The Merchant Solutions also offers a customer service email at [emailprotected]. She said that I would need to submit an application in order to verify the discounts they were offering. 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. Any unauthorized copying and reproduction of the content of this page, including all meta data and computer code, is strictly prohibited. Ive called them over 15 times, and each time they blow me off, or offer me a partial refund if I delete the negative (yet accurate) Yelp and Rip Off Report reviews I left them. Debt Collection FAQs | Consumer Advice HORRIBLE ! Common themes include undisclosed fees, difficulty reaching a representative, problems with leased equipment, and termination or restocking fees in excess of $900. The majority of Americans use loans, credit cards, lines of credit to pay for their lifestyles. Seriously they will destroy your business. All debt collectors track down past-due debts that businesses and consumers owe. We work to advance government policies that protect consumers and promote competition. They may require countless numbers of documents. I wish I would have read some reviews before I sign up with these con artists. Our mission is protecting consumers and competition by preventing anticompetitive, deceptive, and unfair business practices through law enforcement, advocacy, and education without unduly burdening legitimate business activity. 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. A handful of debt collectors employ scare tactics such as calling debtors around the clock or harassing them in person for collections. The job of the business, however, is to ensure that they have processes in place to keep this risk down to the absolute minimum. We can help you to seamlessly integrate eMerchant Authority payment solutions into your business. They want me to pay almost $900.00 for equipment I dont use. Host Merchant Services is an ideal payment processor for new agencies operating in the debt collection industry. 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. Pam called me offering a competitive rate for credit card processing. Product & company names, logos, and trademarks referred to on this site belong to their respective owners. Fortunately, there are providers willing and able to help. That doesnt count the canclelation fee that coming up from them. please dont sign up and let people know about that. 1008 Mattlind Way. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations. If you can get one who has worked with businesses in the debt collection industry, the better. This Post Might Help: Best Restaurant Merchant Accounts. Its important to be able to connect with a real person on the phone. Since 2017, Noah has worked for federal, state, and commercial clients as a proposal writer, technical writer, copywriter, and analyst. Save money with Merchant Solutions low processing rates and free terminal program. 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. Beware, do not do business with merchant solutions. Due to the unique processes that eMerchant Authority has in place, the risk of a chargeback is low. They are beyond shady and dont care at all about customer service!!! 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.

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