Then to my horror these con-artists actually refused to close my account and continue to send me monthly bills to this day. DONT BELIEVE IN ANYTHING THEY SAY ALL LIES AND FRAUD!!! Copyright 2023 Merchant Maverick. The Merchant Solutions also appears to resell the products of First Data (Fiserv). Due to the risky nature of your business the typical bank wont deal with you. This Post Might Help: Cancelling a Merchant Account Without Paying a Fee. It was revoked by State of TN. When you choose us, youre not just getting back your assets. The second your merchant account closes down is the second that you are no longer able to accept payments for your company. We may earn revenue if you obtain services from a provider that we recommend. I have filed a complaint with the bbb and am probably going to get a attorney to get my money back. New York, NY 10038. Bitty advance immediately escalated my debts to Recovery Solutions Group and they have been harassing me ever since. Higher cost than explained in solicitations No mention of 3 year contract and no proof of it. We can help your collection agency even if you've you been turned down by service providers in the past. is the best thing you can do to improve your business cash flow and offer more payment options to your customers. 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. Merchant Mavericks ratings are not influenced by affiliate partnerships. Check out our complete list of High-Risk Merchant Account Reviews for more traits that other top-performing high-risk specialists have in common. Stay away from Themechantsolution!!! 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. Remove Recovery Solutions Group From Credit Report A collection agency merchant account is classified as high risk for a number of reasons. Annual PCI Fee $99.00 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. Do not believe anything they say about their service. 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. I had signed up with them thinking they can offer me the lowest rates with a price beat guarantee. 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. CFG Merchant Solutions, LLC. Very shady business practices and a very deceptive sales process. 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. Some of these limitations can be pretty tough on a business, particularly in their early days. $695 for early termination,$1500 programming fee, I have never hear of any company charging a programming fee. The Merchant Solutions, founded in 1999, is a small merchant account provider based in Woodland Hills, California. 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. From The Editor Exclusive Promo: PaymentCloud will give you $200 if they can't beat your current rate. 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. Cancellation take place 30 days after the day is cancel and tones of ridiculous fee charged during those 30 days. See Which Processors Offer No Monthly Fees And No Contracts. The creditor may also hire a debt collector or sell the debt to someone who may try to collect the debt. Their charges are exhorbitant. $1350 fee if terminal is not returned within 10 days. Debt Collectors List | NY Debt Collections List Use our visualizations to explore scam and fraud trends in your state based on reports from consumers like you. You almost certainly will not be able to work with companies like PayPal. What Consumers Should Do When Fake Debt Collection Scammers Call. My request to talk to a supervisor and to review the contract I had supposely sign went unanswered. Instabill offers credit card terminals albeit with little information concerning specific terminal models or features on its website. Owe CFG Merchant Solutions? Learn More Here - Tayne Law Group If your company does not show any indication that you conform to this act, then your application will be outright rejected. If they cannot claim the money back from the seller, then the merchant account provider will have to pay these fees. Although Soars $495 early termination fee (for some accounts) may be steep, the termination fee is voided after the initial contract period. See Who The Worst Processors Are. Merchant account providers know that there will always be a bit of a risk dealing with debt collection agencies. Seeking to take them to court for their theft. Im so glad I read these before making a huge mistake. 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 . This means that you can always stay on top of any transactions that you are making. PaymentCloud helps merchants navigate the necessary steps to become PCI-compliant within 90 days and without charging a PCI compliance fee. I got this straight but for the next several months they continued to charge me after 30 min of me wasting my time on the phone they refunded me, the next month charged me again. This company hires predatory sales people, arent up front about fees and raped my bank account. Our experienced attorneys can help you come up with a strategy to deal with your debt while keeping your business running. Save money with Merchant Solutions low processing rates and free terminal program. 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. They Rip you off way more than wat they told you they would charged. High-risk specialist with anti-fraud and anti-chargeback protections. Due to the unique processes that eMerchant Authority has in place, the risk of a chargeback is low. She also helped us to file our annual PCI compliance saving us about $40 per month. There is no monthly fee but there is a monthly minimum fee meaning if you dont process the requirement you are charged that fee. Its like they try to rip you off once last time b4 they let you go. 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. These people are the biggest crooks Ive ever encountered. Collection agencies that process mostly credit card payments should keep an eye out for merchant account providers that support virtual terminals. You will be far too high of a risk to work with. Going to BBB and will get attorney if I have to. We can also provide the tools that you need to generate financial reports for any money passing through your merchant account. Their customer service is terrible, they are never reachable. When a customer disputes a transaction and gets a chargeback, the merchant is free to consider the reversed payment an outstanding debt and treat it as such. I was never told about a restocking fee and some other charge until I got ready to cancel. Are you with The Merchant Solutions? 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. To better understand why we adjust BBB ratings, please see our Rating Criteria. They actually added 19 pages to our contract virtually and said we signed them 1 1/2 years after signing the original. I work damn hard to run my business and I will be damned if they are going to steal money from me. 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. At Monetaria, we understand that your MCA agreements are time-sensitive. Just ridiculous! High-risk specialist for U.S.-based collection agencies. Their customer service is simple horrible. The Merchant Solutions is a fraud, it is an unprofessional, unethical company simple looking to scam anyone who falls for their lies. The sales rep is manipulative and they never disclosed a 400$ cancellation fee or an annual fee. So not only was I billed WITHOUT my consent, but then they refused to refund more than half. If anyone has a better option please let me know. Once the application process starts, we will find the best merchant account for you. They use the guise that they are affiliated with Wells Fargo, but a call to Wells revealed that they never heard of TMS because Wells owns their own merchant company. 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 eMerchant Authority can help with this. These are all fees that were started 8 months into my contract. I will NEVER consider using them again. I attempted to cancel my contract and they are trying to hit me with over $1000 in last min charges. Ray Siddiqui of TMS told me if I return the keypad, he would refund the $500 and 2 months of fees at $35/month. They refuse to refund the money. While the process for applying for a merchant account with us is not instant, we have been doing this a long time. Both were resolved to the dissatisfaction of the merchant or received no final response. Collection agencies need a stable merchant account to let their customers pay off past-due debts with a credit card or e-check. This form is for feedback only. Provider of affordable payment processing hardware that can streamline various debt collection operations. Wondering what else to consider as a high-risk merchant that needs a reliable merchant account provider? Both were resolved to the dissatisfaction of the merchant or received no final response. After being a member of The Merchant Solutions for over 10 years I discovered (by simple reviewing the statements) the December invoice had the following charges. This company is deceitful. Which Collection Agencies Will Accept a Pay For Delete Agreement? 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. While the information in the above article is believed to be accurate as of its publish date, the author and publisher make no representation or warranties with respect to the accuracy, applicability, fitness, or completeness of the contents. 180 Maiden Lane, 15th Floor. Soar offers an automated application process online that takes minutes to complete and provides merchants with a quote after the fact. 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. Youll get your merchant account for your collection agency in as little as 24 48 hours. Telephone: (818) 409-6000. I was to have 1 account with Merchant Solutions ! Fax: (818) 707-7070. Total $247.95. Also that free terminal will cost you $350 when you try to cancel the account. 651-398-1636. 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. 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. This includes debt collection companies and debt buyers. In addition, they told us the transaction fee would be 2.65% of each purchase. Its a TOTAL SCAM! Credit card processing for debt collection agencies This Post Might Help: Cancelling a Merchant Account Contract Without Paying a Fee. eMerchant Authority prides itself in being a leader when it comes to the provision of merchant account solutions. Should have know. You really leave your business account open to these guys with free access to do as they like. 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. The salesperson on the phone neglect to inform me of a cancellation service fee of $900.49 Seattle Collection Agency | Merchants Credit Association 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. If you are in the debt collection business, then you may find it very difficult to obtain a merchant account. 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. Thousand Oaks, CA 91362. The merchant account providers POS systems and card readers as well as its excellent integration capabilities are thankfully easy to navigate with a strong reputation for standout customer service. If you can get one who has worked with businesses in the debt collection industry, the better. Los Angeles Debt Collection - Credit Consulting Services The companys rating is also impacted by its higher-than-average complaint total with the BBB. Don't Fall Into An Expensive Trap. Its website can be hard to use as well. Business owners starting a collection agency need to thoroughly account for their startup costs and potential interruptions to future revenue due to customer chargebacks and instances of fraud. 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. Respectable processors like EMB guarantee a fast, secure application process. When you ready to cancel their services they hit you with ridiculous restocking fee and cancellation fee. When people stop paying, unpaid debts are sent to collection agencies These agencies go after debtors to recover the money for banks and creditors. 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. And, likeseveral other merchants weve covered in this article, Soar doesnt publically disclose its pricing plans on its website. Which Collection Agency Merchant Account Is Right For My Business? Forgotten Password? Call 1-888-288-2692. Learn more about your rights as a consumer and how to spot and avoid scams. Merchant Services | Payment Processing Enterprise Solutions | Fiserv I foolishly fell for the lies that were fed to me by one of The Merchant Solutions(TMS)sales representative. They will give you false information over the phone and then tell you their salesperson had no authorization to give it. When scammers threaten to arrest you, suspend your driver's license, or call your employer if you don't pay immediately, hang up and report the collector to the FTC at ReportFraud.ftc.gov. Required fields are marked *. The Signature page of the second contract is an EXACT COPY of the account I did open. STAY AWAY. I was told thay my rates would be as low as 1.5%. the name of the creditor you owe it to. Licensed Debt Collectors As applicants are approved consumers can look up and verify our licensed servicers' telephone number, email address, and website information through the Nationwide Multistate Licensing System (NMLS) Consumer Access ( www.nmlsconsumeraccess.org ). VERY RUDE AND UNPROFESSIONAL.THEY ARE TRYING TO BLIND SIDE THEIR CUSTOMERS AND ROB THEM OF THEIR MONEY. Our services are secure and reliable. 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. eMerchantBroker.com. You may be surprised to know that this is one of the top reasons why smaller companies end up having to shutter their doors. Spot the latest COVID scams, get compliance guidance, and stay up to date on FTC actions during the pandemic. 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. Learn more about our monetization policies here. They have terrible reviews on google and many many complains on BBB. This is why we want to help you get the right debt collection merchant account from the very start. It isnt just the finances of your business that they pay attention to either. We have lowered the companys score in this section to a C to reflect this consistency. 100$ fee come out of no where every month, and when i called them they said that 100$ fee only apprea once a year. Merchant Mavericks ratings are editorial in nature, and are not aggregated from user reviews. Common themes include undisclosed fees, difficulty reaching a representative, problems with leased equipment, and termination or restocking fees in excess of $900. They stealing $1000.00 dollars from my account. PaymentCloud provides users with advice on choosing a chargeback management service and fraud mitigation service. 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. Businesses need cash: Restaurants, Bars & Hotels Automotive Salons & Day Spas Doctors, Dentists & Vets Franchises & more I have been getting charged for a second account since April of 2012 that I did not authorize and for which they are telling me I did. See this page to learn how we support our operations. They never have any answers and are only looking for ways to disconnect you. The company never disclosed high fees , fees for not taking a test, and excessive closing fees. I was very skeptical and was sure that the contract did not disclose a 3yr aggreement or termination fee. We can help you to seamlessly integrate eMerchant Authority payment solutions into your business. They Are Not truthful about their service. This company is nothing but a fraud. Instead, you need to search for high-risk merchant accounts. MCA is a premier full-service debt collection agency, providing successful debt management solutions with integrity since 1937. eMerchant Authority specializes in merchant accounts for high-risk businesses; this includes debt collection agencies. You may be surprised to know that this is one of the top reasons why smaller companies end up having to shutter their doors.
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