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They charged me $300 for what they called setup charges. High-risk specialist Durango Merchant Services ability to place accounts for merchants with histories of excessive chargebacks is invaluable to new collection agencies. 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. Same situation. 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. Worse company ever. The mobile POS solutions that Instabill offers can be relatively time-consuming to begin using as well since Instabill requires its users to create a separate account with its mobile processing partner, CardFlight, before they can accept mobile payments from multiple devices. I had to close the account, due to poor sales results. Some processors have no monthly, no annual fees, no contract, and cheap rates. These are all fees that were started 8 months into my contract. The chargeback will be made against their account. Now they have charged me with a PCA compliance processing fee of $149, payable annually. Every review above has happened to me too exactly like the above. The sole purpose of the material presented herein is to alert, educate, and inform readers. After I cancelled my account with them, they debited my account $50.00 to refurbish the terminal they provided free of charge. The merchant service provider should also be transparent about the requirements of working with your business and the circumstances under which they would terminate the contract. Opinions expressed here are authors alone. This means that you will need both a payment processor and a merchant account. Merchants Credit Association, is a debt collection company. 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. They have fees for everything when you cancel or have to end your contract early. Both were resolved to the dissatisfaction of the merchant or received no final response. I would not recommend TMS to my worst enemies. 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!! This company hires predatory sales people, arent up front about fees and raped my bank account. If so, you may be a victim of United Merchant Asset Recovery debt collection harassment. Withdrew $900 from my account and told me that it was a $400 termination fee and $500 for the keypad. eMerchant Authority prides itself in being a leader when it comes to the provision of merchant account solutions. CFPB accused Encore Capital Group and Portfolio Recovery Associates Inc. of misleading and harassing consumers, which led . Sign up today and get a free card reader! Business Credit Cards Without Personal Guarantee, Find Accounting & Payroll Software Reviews, Discover The Best Accounting & Payroll Software In 2023, Discover The Best eCommerce Platforms In 2023, Best eCommerce Platform For Small Business, Is Dropshipping Worth It? Screw this place I wish their was a way we could put them out of business. Debt collection abuses cause harms that financially vulnerable consumers can ill afford. They charge you all kinds of fees which your not told about. I got a shock when they deducted total of $1000.00 from my account in 4 payments. 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. They need to see how strong your profits are. The merchant solutions is the most horrible company I have ever dealt with. 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 . This is very dishonest company with deceptive business practices. So, its no surprise that banks often deny them merchant accounts. BE AWARE!!! THIS WAS A TOTAL LIE. They get you sign up with them for a minimum fees and after few months they hit you with 7% fees. 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. This means that your business will be making a lot more profit for each transaction. 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. *Rates quoted as the % above normal card interchange costs, dues, fees, and assessments. Here Are The Processors Who Don't Hide Fees. You should double-check with the service provider/financial institution directly as well as obtain independent financial advice prior to making any financial commitments or business decisions. Soar Payments works exclusively with U.S.-based agencies and therefore doesnt support payment processing to offshore accounts that international merchants may need to handle. It took me 2 weeks of calling NON-STOP to get any response. 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. Let us know how well the content on this page solved your problem today. 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. This field is for validation purposes and should be left unchanged. Monthly Processing RangeUnder $1,000$1,000 - $5,000$5,000 - $25,000$25,000 - $50,000$50,000 - $100,000Over $100,000. Save money with Merchant Solutions low processing rates and free terminal program. Soar offers an automated application process online that takes minutes to complete and provides merchants with a quote after the fact. No doubt necessary to achieve any success, as the sales person was barely literate. The Merchant Solutions, founded in 1999, is a small merchant account provider based in Woodland Hills, California. This is a business that is rife with fraud and chargebacks. Your Merchant Cash Advances help commercial businesses succeed. STAY AWAY. Why would we want a service we couldnt use? Kim, this just happened to me and I wanted to see if you had any outcome in your situation. Click here for more product information. is the best thing you can do to improve your business cash flow and offer more payment options to your customers. Disgusted. If you do business with a debt settlement company, the company may tell you to put money in a dedicated bank account, which will be managed by a third party. 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. When you should have paid 1.62. This company, Merchant Solutions, is a fraud. And because customer satisfaction is what we aim for, we offer ongoing support to all our customers. 4 Best Merchant Accounts For Collection Agencies. I used Merchant Solutions for approx. Fast turnaround: as little as 1-2 days. They Rip you off way more than wat they told you they would charged. 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. JUST SAY NO. Whether you're looking to save money on processing or to get approved for a merchant account, PaymentCloud can help. Pure scam artists just looking to steal your hard earned money. Although Soars $495 early termination fee (for some accounts) may be steep, the termination fee is voided after the initial contract period. Since these banks know and trust the quality of our services, they will be able to trust you too. In addition to those 2 complaints, the company has received 58 informal reviews. The collector has to tell you four pieces of information. Search the Legal Library instead. Thats why weve broken down the basic features of the best merchant accounts for collection agencies and debt collectors. 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. 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. This company is deceitful. If they cannot guarantee this, then you will likely not be offered a high-risk merchant account with that company. They really do not want to do this. High-risk specialist with anti-fraud and anti-chargeback protections. This company is a bunch of scam artists charging a early termination fee of 395 after we were with this company 6 yrs and only had a 3 yr contract which they took upon themselves to renew, charges for non compliance because they decided to switch companies for their compliance when I was compliant through April of 2013 and now a $50 fee for refurbishing,, it is not my problem that they need to refurbish a machine. Specialized account support for multiple collection agency types. Ex. This company is nothing but a fraud. However, pricing is not disclosed on either of those services. 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. Merchant Solutions is a very dishonest processor. With EMB, you can enjoy chargeback management tools, payment gateways, and fraud filters. Any unauthorized copying and reproduction of the content of this page, including all meta data and computer code, is strictly prohibited. Agree with our rating?Tell us about your experience with The Merchant Solutions in the comment section below. Zero star rating, they are big time scam Credit cards are prone to chargebacks and tend to be more expensive to process on a per-transaction basis than automated clearing house (ACH)/electronic fund transfer (EFT) payments. I am still waiting on on calls from their supervisors from last year. The payment processors tiered pricing plan increases processing rates for non-qualified and mid-qualified transactions as well, which can be particularly constricting for very new collection agencies. Instead, Go with Square, go with Chase, go with Costco Elavon, go with Paypal, or any of a dozen other reputable credit card processing companies but please, dont make the same mistake i did Avoid The Merchant Solutions at all costs. How Can Merchants Use Debt Collectors to Recover Chargebacks? I have been with them since 2015 and in June,2019 I decided to go to a different processor. In some cases, this leads to merchants contracting with debt collection agencies. If anyone has a better option please let me know. MERCHANT SOLUTIONS GROUP OPENS DOORS Business owners need capital to grow and manage their companies. After youve signed up, you than learn there are more charges and feel which they will auto-deduct from your merchant account without notification. Only. I foolishly fell for the lies that were fed to me by one of The Merchant Solutions(TMS)sales representative. 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. Were dedicated to B2B debt recovery. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); BE AWARE!! They Are Not truthful about their service. Their customer service is terrible, they are never reachable. My contract ends in January 2015 and I am looking forward to it. for lack of use and Merchants want 490 dollars to terminate service. There are a bit more than 9.000 businesses in the industry that employ over 150.000 people. There is also $395 restocking fee, and $550 reprogram fee when you have to return their pin pad. 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. They round up everything, even when they shouldnt according to elementary mathematics! Toll free: (888) 544-9711. To my surprise after trying them out I was told that I had signed a 3 yr contract with a $350 termination fee. I tried to cancel but they said when I signed up it would automatically renew for two years and I could not cancel for another year. The sales rep never returned my calls and is no longer with thw company. Also, youll be required to submit the following: Your collection agency must be legal when your applications are being reviewed by processors and underwriters. 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. Your email address will not be published. On November 30, 2021, the Debt Collection Rule became effective. My company is no longer doing business and I have not used the machine in 6 months. They will tell you that there are no hidden fees and no extra charges. There are a bit more than 9.000 businesses in the industry that employ over 150.000 people. Which Collection Agency Merchant Account Is Right For My Business? When you choose us, youre not just getting back your assets. 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. This credit card processing company is HORRIBLE! The second your merchant account closes down is the second that you are no longer able to accept payments for your company. 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 ). Numerous calls went straight to voicemail without any return calls. 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. Help with PCI compliance is a godsend for businesses that operate in the highly regulated collections industry. 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. Even though some providers may appear to be a good fit for you at first, the best payment processors can satisfy your current business needs and grow with your future growth plans. Clover is the company's proven solution that makes it easy for small businesses to accept payments and run their day-to-day operations, from reporting and inventory to invoicing and e-commerce. PaymentCloud specializes in difficult-to-place merchant accounts for credit card processing. This company will be out of business in one year or less. Consider whether your agency is a relatively low- or high-volume operation, whether you function as an eCommerce or brick-and-mortar business, your chargeback history, and the pricing plans you prefer before you decide on a collection agency merchant account. They are very rude and they will not correct the problem with me even though they said they would. They do not inform you before they process the money out of your account, Which in my opinion is bad business practice. These people are the biggest crooks Ive ever encountered. Merchants are advised to thoroughly review their merchant agreements with The Merchant Solutions and to renegotiate their contracts if hidden fees are suspected. Im so glad I read these before making a huge mistake. 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. 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. 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. You may be charged fees for using this account. This means that you will be out of business. Instead, you need to search for high-risk merchant accounts. Due to the risky nature of your business the typical bank wont deal with you. We can also provide the tools that you need to generate financial reports for any money passing through your merchant account. DO NOT EVEN talk to their salespeople. Copyright CardPaymentOptions.com, Inc. (Digital Fingerprint: 0d38c6720f0d78a701b74d58653af608). That means we spend every day sharpening our tools and providing the know-how to efficiently resolve delinquencies and liquidate accounts. Click here to earn a reward. If they cannot claim the money back from the seller, then the merchant account provider will have to pay these fees. Looking For One Of These Merchant Accounts For Collection Agencies? 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. He has a BA in Creative Writing and a Minor in German from Goucher College. I wish I would have read some reviews before I sign up with these con artists. Common themes include undisclosed fees, difficulty reaching a representative, problems with leased equipment, and termination or restocking fees in excess of $900. This complaint total is somewhat high for a company as small as TMS, and it therefore merits a D grade in our opinion. Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. 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! Excessive chargebacks are relatively common to the collections industry, so merchant account providers that service high-risk businesses like collection agencies should offer features such as payment gateways with fraud detection tools that minimize the long-term damage done by fraudulent chargebacks. Garbage company. As a small business owner I was looking for a way to expand my business by being able to accept credit cards, so I may be able to open my door to new clientele. BEWARE OF THESE DOGS! He was patient and knowledgeable and I am more than pleased with the assistance I receive from the Merchant Solutions. They constantly slip in unauthorized charges. 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. The site is secure. You may be surprised to know that this is one of the top reasons why smaller companies end up having to shutter their doors. Merchant Mavericks ratings are editorial in nature, and are not aggregated from user reviews. The creditor may also hire a debt collector or sell the debt to someone who may try to collect the debt. 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 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. We take great pride in providing one of the only objective an unbiased merchant account review websites on the internet. 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. Take a few minutes to get comfortable with the process of choosing a provider for your debt collection agency and learn how to decide on a provider with minimal frustration. Offers automated account application and custom quote processes. The company never disclosed high fees , fees for not taking a test, and excessive closing fees. The risks related to your business will be assessed by underwriters. I have tried to use card reader several times without success. I was charged a cancellation fee for an account they had no authorization to open and then when I called to cancel they said they needed a signature. I hope there will be a class action lawsuit and I plan to be a part of it. 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. Get your cash flowing again with our Merchant Cash Advance debt recovery solutions. She also helped us to file our annual PCI compliance saving us about $40 per month. they charged me $450 every month out of total 10k annual monthly. Its a TOTAL SCAM! eMerchantBroker can . Respectable processors like EMB guarantee a fast, secure application process. This means that you cannot work with companies like PayPal or Square. The drawbacks that render PayKings a less-than-perfect merchant account provider are similar to the drawbacks that come with eMerchantBroker. They may require countless numbers of documents. This includes debt collection companies and debt buyers. Our proven Merchant Cash Advance (MCA) default recovery solutions are proven to turn your delinquent accounts back into cash. Would recommend , Merchan Solution they are very professional , Ive been talking to Austin back and forth seems like I know him, anyway every question I did not understand about this machine he explain it very clearly to me, He was not Just a sales person he wants my business to succeed Thank you very much .Austin Smith, Merchant solutions are very professional. Keep your money you work for and dont use them. Merchants can get more competitive contract pricing by instead going with a cheap merchant account provider. Has representatives that open fradulent accounts. Copyright 2023 eMerchantBroker, LLC. $695 for early termination,$1500 programming fee, I have never hear of any company charging a programming fee. Total $247.95. The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely. 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

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