Numerous calls went straight to voicemail without any return calls. I didnt understand the fees so I called them and asked them to give me the run down of EVERYTHING on the fees page and was told just the requirements the gateway fee they said wasnt in the contract because its a regular thing with all processors. If your company is in the business of collecting debts, then you will need to have some way to process payments. Merchant account providers know that there will always be a bit of a risk dealing with debt collection agencies. 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. SAVE YOURSELF THE HEADACHE! They are crooks. They have terrible reviews on google and many many complains on BBB. They will rip u off and their owner Taufiq trains his employees to lie, steal, cheat and deceive their customers who are trying to run an honest businesd. Which Business Bank Account is Right For You? Call 1-888-288-2692. 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. CardPaymentOptions.com, Inc. All Rights Reserved. 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. Their customer service is simple horrible. Instabill offers credit card terminals albeit with little information concerning specific terminal models or features on its website. eMerchant Authority can help with this. Ex. 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. BBB received a pattern of complaints concerning collections practices. i signed up a few weeks ago and havent been able to get into contact with them since. 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. Call us now on 877-700-5790 for further assistance. It is not intended as legal or financial advice. * The terms and conditions of this promotion currently cannot be found on the website. 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. The salesperson on the phone neglect to inform me of a cancellation service fee of $900.49 Instead, it appears merchants must contact the company directly to learn more about the exact terms of this promotion. Credit Consulting Services, Inc. is an accounts receivable management firm that provides solutions for reducing bad debt and improving overall cash flow for businesses in Los Angeles, California. Click here to earn a reward. Anybody have any suggestions for getting out of this company? Only. Why Is Credit Card Processing For Collection Agencies Considered High Risk? the name of the creditor you owe it to. Very rude on phone, does not care about you as a customer. This field is for validation purposes and should be left unchanged. 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. I would not recommend TMS to my worst enemies. Because of their undisclosed fees and charges I ended up paying more than my previous company. eMerchant Authority is a registered ISO of Woodforest National Bank, Houston, TX Member FDIC. Now that youre familiar with the logistics of payment processing youre likely to navigate, its time to consider some tips to get your collection agency approved by an acquiring bank. 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 $150.oo yearly anuall PCI FEE this is the processor for you.. Due to the high-risk nature of your business, most merchant account providers will ask you to jump through hoops if you want to work with them. Example: If you have a sale that is then multiplied by the discount rate, and it comes out to 1.62222, you will pay them 1.63. The reason why most high-risk merchant account providers are so strict during their application process is because of the nature of the debt collection business. Due to the risky nature of your business the typical bank wont deal with you. You will be far too high of a risk to work with. Note: We have adjusted this companys BBB rating according to our own standards. This is why we want to help you get the right debt collection merchant account from the very start. This form is for feedback only. They do not inform you before they process the money out of your account, Which in my opinion is bad business practice. Look out for credit card processors who offer other merchant solutions that could be useful for your business. The sales rep promised that I had nothing to lose and that I can try it for 30 days and can cancel without any penalties. This means that our job is to reduce the risk of any transactions for the merchant bank. They need to know that if they are going to be offering you services that there is a strong chance that they will get their money back in the event of a chargeback. Then they sent me a replacement machine that I had absolutely no use for; they actually sent me the wrong machine and billed me for it. The debt collection industry is a high-risk one, which means that business owners who want to start a collection agency may face a few hurdles when looking for a merchant account thats right for them. Strongly suggest that anyone does there homework and compare companies for this service. 1008 Mattlind Way. 100$ fee come out of no where every month, and when i called them they said that 100$ fee only apprea once a year. For me customer support is key and Austin is definitely an asset to this company. Screw this place I wish their was a way we could put them out of business. 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. Dont give them, or their mother company, First Data, your business!!! They will not return my phone calls now. And because customer satisfaction is what we aim for, we offer ongoing support to all our customers. eMerchant Authority prides itself in being a leader when it comes to the provision of merchant account solutions. This means that you can always stay on top of any transactions that you are making. The collections industry demands compliance with federal and state-level regulations, and payment processors should be able to facilitate easy compliance for debt collectors. The company has a higher-than-expected number of complaints for its apparently small size, and the contract terms that we have seen reported for this company arent especially competitive, especially when compared to the best overall credit card processors. High-risk specialist with anti-fraud and anti-chargeback protections. He has nearly two decades of experience in card payment services, both as a former merchant services sales representative and as a professional journalist covering the payments industry. Fax: (818) 707-7070. This Post Might Help: Cancelling a Merchant Account Without Paying a Fee. The risks related to your business will be assessed by underwriters. : 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. 20+ Proven Bank Relationships Medium/High-Risk Accounts Fast Merchant Account Approval E-Commerce & Retail Options B2B Vendors Supported, Multiple E-Commerce GatewaysChargeback PreventionACH, E-Check, Credit CardsB2B Level 2/3 Data Discounts3D Secure Frictionless CheckoutMobile PaymentsEMV Readers, Gateway Recurring BillingVaultE-Commerce Cart PluginsPOS/TerminalsInternational Merchant AccountsDedicated Account Managers. Weve been hit with so many fees that are hidden and that they deduct for no unknown reason as they do not tell you before hand. If you have already signed up with them, get out fast. This company was nothing but deceitful from the beginning. Common themes include undisclosed fees, difficulty reaching a representative, problems with leased equipment, and termination or restocking fees in excess of $900. Problems logging in? Keep your money you work for and dont use them. As a debt collecting agency, opening a debt collection merchant account is the best thing you can do to improve your business cash flow and offer more payment options to your customers.. Merchants are advised to thoroughly review their merchant agreements with The Merchant Solutions and to renegotiate their contracts if hidden fees are suspected. See Who The Worst Processors Are. Their customer service is terrible, they are never reachable. The debt collection agency industry is one that grossed over $10.4 billion in 2013, domestically, collecting $55.2 billion in acquired debt, and these numbers just continue to grow with every passing year (approximately 15% each year since). Beware, do not do business with merchant solutions. John in Customer Service was wonderful today with assisting me with the set up for my new Walker Bluetooth. Seeking to take them to court for their theft. 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. Copyright 2023 Merchant Maverick. The author and publisher shall in no event be held liable to any party for any direct, indirect, punitive, special, incidental or other consequential damages arising directly or indirectly from any use of this material, which is provided as is, and without warranties. They will tell you that there are no hidden fees and no extra charges. The Merchant Solutions is definitely THE worst credit card company EVER!!!! These processors offer Quickbooks integration and have low rates. A lot of other company with no contract and fees to work with out there. Many may find PaymentClouds organization of products on its website to be less than navigable. Needless to say, I immediately sent the keypad and tracking revealed they received it in 3 days. Wehave not found any outstanding class-action lawsuits or FTC complaints filed against The Merchant Solutions. The second your merchant account closes down is the second that you are no longer able to accept payments for your company. Ideal for collection agencies with a history of excessive chargebacks. Most merchant providers are reluctant to offer. Easier borrower qualifications that help you build business credit. When I wanted to cancel they wouldnt send me the cancellation form for weeks. The chargeback will be made against their account. There are a bit more than 9.000 businesses in the industry that employ over 150.000 people. 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. The Merchant Solutions, founded in 1999, is a small merchant account provider based in Woodland Hills, California. 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. The market research firm IBIS World reports that the debt collection industry represented a $13 billion market in the US as of May 2013. No doubt necessary to achieve any success, as the sales person was barely literate. That said, rather than try to sign you up for an overpriced equipment lease, Durango offers terminals, PIN pads, and mobile card swipers for direct sale on its website, and its payments gateway is a proprietary product. In addition to those 2 complaints, the company has received 58 informal reviews. Debt collection businesses should partner with a merchant A business that accepts credit cards for goods or services. Cancellation take place 30 days after the day is cancel and tones of ridiculous fee charged during those 30 days. Provider of affordable payment processing hardware that can streamline various debt collection operations. If you are looking for a merchant account for your debt collection company, or you have any questions about the services that we provide, then please reach out to us today. This company hires predatory sales people, arent up front about fees and raped my bank account. 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. They are very rude and they will not correct the problem with me even though they said they would. Sequoia is located in the Agoura Gateway at: Agoura Hills, CA 91301. 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. These businesses are associated with a higher rate of risks related to payment processing and a large volume of chargebacks. Square is a top choice for POS for any type of business. Also when you call they have no customer service and are rude on the phone. In the podcast below, Phillip explains how credit card processing and credit card fraud affects business owners. RUN! 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. Then to my horror these con-artists actually refused to close my account and continue to send me monthly bills to this day. Although Soars $495 early termination fee (for some accounts) may be steep, the termination fee is voided after the initial contract period. 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!!! Excellent provider for collection agencies with a strong eCommerce presence. Essentially, they steal from the customer. I paid $99 for $1000 and for another $1000 i paid $119 it means more than 10% MERCHANT SOLUTIONS GROUP OPENS DOORS Business owners need capital to grow and manage their companies. A full point-of-sale (POS) system in one sleek package. Fraud protection should be high on the list of priorities for a debt collector of any size and type, and Durango is well-placed to handle instances of fraud that are common to the collections industry. 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. Youre also working with a business that knows your problem and has the fix. The Merchant Solutions provides credit card, debit card, EBT, gift card, ATM, and check acceptance. If you want to ensure that applying for debt collection merchant accounts goes as smoothly as possible, then you need to work with experts like us here at eMerchant Authority. (800) 228-0210 Technical Support, The Merchant Solutions also offers a customer service email at [emailprotected]. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations. 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. Flexible and transparent pricing suits high- and low-ticket agencies. Get clarity before you switch. Which Collection Agency Merchant Account Is Right For My Business? Help with PCI compliance is a godsend for businesses that operate in the highly regulated collections industry. 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. Also even though I had cancelled in June, in July they also charged PCI compliance of $99.00 when I did not even process with them. The Merchant Solutions is a fraud, it is an unprofessional, unethical company simple looking to scam anyone who falls for their lies. You may be surprised to know that this is one of the top reasons why smaller companies end up having to shutter their doors. To my surprise after trying them out I was told that I had signed a 3 yr contract with a $350 termination fee. I attempted to cancel my contract and they are trying to hit me with over $1000 in last min charges. We can help your collection agency even if you've you been turned down by service providers in the past. Getting paid to re-write this page? Stephanie T. Nguyen, Chief Technology Officer, Include spaces in matter number if applicable. If you hear from them just Run!!! I was never told about a restocking fee and some other charge until I got ready to cancel. TMS is a registered independent sales organization and member services provider (ISO/MSP) of Wells Fargo Bank, N.A., of Concord, California. 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. We can help you to seamlessly integrate eMerchant Authority payment solutions into your business. We have located multiple The Merchant Solutions customer service numbers: (888) 707-2836 Toll-Free Customer Support/Sales Higher cost than explained in solicitations

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