They actually added 19 pages to our contract virtually and said we signed them 1 1/2 years after signing the original. We provide merchant account services for both low and high-risk businesses. I left MerchantSolutions a number of months ago, even though it cost me remaining monthly fees until my contract expires. Were never worried about our overdue receivables. said no business ever. If you have your own The Merchant Solutions review to make, please do so in the comments below. Its range of POS systems and card readers provide solutions for both card-present and card-not-present payment processing, which creates flexibility for various collection agency types. No mention of 3 year contract and no proof of it. And, likeseveral other merchants weve covered in this article, Soar doesnt publically disclose its pricing plans on its website. Additional rates and fees, including a technical support fee may apply. Independent sales agents are often paid by commission and are therefore motivated to sign merchants to the most expensive contract terms they can. Merchant Card Advisors specializes in providing comprehensive merchant account services for high-risk businesses, including businesses in the debt collecting sector. This is a business that is rife with fraud and chargebacks. Specifically, consumer complaint activity alleges this business claims to be a law firm attempting to collect on debts that. This means that you will be out of business. Payment plans, too, are transparent and predictable enough for even very small debt collection businesses to quickly parse through and understand. Complaints for Recovery Solutions Group, LLC - Better Business Bureau 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 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. These revenues in no way influence our ratings or reviews. 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. There is PayPal and Square, why would me, a small tiny business ever agree to such a thing I wouldnt. When I wanted to cancel they wouldnt send me the cancellation form for weeks. To keep an ACH account in good standing, debt collection agency merchants need to keep revokes (chargebacks) under 0.5% and returns less than 15%. They are beyond shady and dont care at all about customer service!!! Higher cost than explained in solicitations They bill me $100.00 more for the first month & when I complained they told me they going to have a rate review and correct it, the second months they did the same, one week in the third months I stop using them for processing and then they threatening me with a $495.00 early termination fee that I cross in the application then I find out that Daniel A. forged my initial and change the page. It took me 2 weeks of calling NON-STOP to get any response. I DO RECOMMEND THAT YOU DO NOT ATTEMPT TO USE THEIR SERVICES!! We are running in the hole compared to the money we received through them from credit card transactions, and the money they have charged us for the service they provide. 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. Save yourself stress and aggravation and sign up with a different processor. I work damn hard to run my business and I will be damned if they are going to steal money from me. When account underwriters are deciding the fees or terms for working with them, they will need to see the finances of your business. How to look up licensees and those debt collectors allowed to do We take great pride in providing one of the only objective an unbiased merchant account review websites on the internet. Merchant Solutions is a very dishonest processor. 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 companys rating is also impacted by its higher-than-average complaint total with the BBB. 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. * The terms and conditions of this promotion currently cannot be found on the website. There is evidence that The Merchant Solutions utilizes independent sales agents in addition to online advertising to market its services. John in Customer Service was wonderful today with assisting me with the set up for my new Walker Bluetooth. Call 1-888-288-2692. 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. They never have any answers and are only looking for ways to disconnect you. Numerous times I informed her that we already had an account with a different company, and we were not ready to transition but would be happy to look at the numbers. This has Been the worst POS processing company I have ever felt with. 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. This is according to the 2016 American Household Credit Card Debt Study by Nerd Wallet. The job of the business, however, is to ensure that they have processes in place to keep this risk down to the absolute minimum. 2985 E. Hillcrest Drive the name of the creditor you owe it to. Debt Collection Merchant Services - Merchant Card Advisors Lets start with the salesman Daniel A. Many may find PaymentClouds organization of products on its website to be less than navigable. If you are a small business owner avoid these crooks like the plague. This Post Might Help: Best Restaurant Merchant Accounts. A handful of debt collectors employ scare tactics such as calling debtors around the clock or harassing them in person for collections. 651-398-1636. See this page to learn how we support our operations. This does not compare favorably to our list of best credit card processors. Monthly Processing RangeUnder $1,000$1,000 - $5,000$5,000 - $25,000$25,000 - $50,000$50,000 - $100,000Over $100,000. How to tell the difference between a legitimate debt collector and Heres a quick list ofsome of the most common debt collection agency types: The different types of collection agencies all require a payment processor that can provide support for payments made over the phone as well as online. Get Started With Durango Merchant Services. In Summary: 4 Best Merchant Accounts For Collection Agencies. Get clarity before you switch. Suite 209 It only makes sense then that the best collection agency merchant account providers offer processing options for multiple payment types and a reliable system to fight chargebacks and fraud. Do not believe anything they say about their service. A collection agency merchant account is essential to process payments in this unique industry. Learn more about dealing with debt collection at ftc.gov/debt. For this reason, they are often linked to high complaint totals. The Merchant Solutions provides credit card, debit card, EBT, gift card, ATM, and check acceptance. if anyone do business with this scums be prepared to have a high blood pressure. They stealing $1000.00 dollars from my account. Merchants Credit Association, is a debt collection company. Please refer to our Advertising Disclosure to learn more about how we earn compensation from affiliate partnerships and how we maintain our independent editorial integrity. Unfortunately, some credit card processors who offer such services will add unnecessary fees, while others will have vague contract clauses for their high-risk clients. 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. 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.. not explained. Suggestion to get rid of them is to block them from your bank account, thats how they suggested getting out of a current contract! We may earn revenue if you obtain services from a provider that we recommend. Seattle Collection Agency | Merchants Credit Association 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. How Can Merchants Use Debt Collectors to Recover Chargebacks? Since I have tried to cancel with them and agreed to pay them whatever fee I can to get rid of them (which was not in my contract I signed), they are now telling me their equipment I returned is not theirs so that I cant cancel or Ill have to pay more than the equipment cost for losing it and again because I already paid for it! Youll first need to navigate the logistics of processing different customer payment types with different pieces of hardware. If your company is in the business of collecting debts, then you will need to have some way to process payments. Debt Collection Agency Merchant Account - PayKings Our experienced attorneys can help you come up with a strategy to deal with your debt while keeping your business running. If you are in the debt collection business, then you may find it very difficult to obtain a merchant account. 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. Signature not by me, computer generated. Cancellation take place 30 days after the day is cancel and tones of ridiculous fee charged during those 30 days. They even familiarize you with techniques and systems that keep customers satisfied and less likely to initiate chargebacks. 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. In the United States, all debt collection companies will need to conform to the Fair Debt Collection Practices Act (FDCPA). The Merchant Solutions rates as an average merchant services provider across the board according to our rating system. I would recommend not to do business with this company. DONT BELIEVE IN ANYTHING THEY SAY ALL LIES AND FRAUD!!! Biggest rip-off company, holding my $ 2500 in the name of government, one employee working all the time and dont know ownership of this company , dont sign any account with this company, This post will help: How to Make Your Payment Processor Release Your Money. We ordered their smartphone credit card processor and found that their application was incompatible with our phone we couldnt use it so decided to return product and cancel service. What out business owners out there about this Merchant Solutions. 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. 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! On the downside, Durango doesnt disclose its pricing plans to the public on its website, which can be frustrating. Due to the risky nature of your business the typical bank wont deal with you. In addition to those 2 complaints, the company has received 58 informal reviews. She said that I would need to submit an application in order to verify the discounts they were offering. 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. 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. 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 will give you false information over the phone and then tell you their salesperson had no authorization to give it. We can help you to seamlessly integrate eMerchant Authority payment solutions into your business. Beware, do not do business with merchant solutions. 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. They said they would beat my current rate but never could. The chargeback will be made against their account. . When I explained to the representative that my business is not making any money she did not care, but wanted to know where to send the cancellation to withdraw the fee. 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 anyone has a better option please let me know. Here are other additional benefits that you receive when you apply for an internet merchant account with eMerchant Authority. Both were resolved to the dissatisfaction of the merchant or received no final response. She also helped us to file our annual PCI compliance saving us about $40 per month. By keeping the risk of chargebacks and fraud to the absolute minimum, your business can benefit. Now illness has caused me to lose my merchant tax ID. Address: Recovery Solutions Group. These are all fees that were started 8 months into my contract. 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. 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). 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. 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. 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. Going to BBB and will get attorney if I have to. So only use this business if you like being lied to and stole from cause thats what their good at. 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. I had to close the account, due to poor sales results. 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). They do not inform you before they process the money out of your account, Which in my opinion is bad business practice. eMerchant Authority can help with this. Its just a penalty fee that they add on you for leaving their company. As of right now, I have this company for falsifying documents, and felony forgery. Learn more about your rights as a consumer and how to spot and avoid scams. Run, dont Walk, from the Hustler Con Artists at The Merchant Solutions. Square is a top choice for POS for any type of business. Memo from Chair Lina M. Khan to commission staff and commissioners regarding the vision and priorities for the FTC. From The Editor 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. Phillip created this website and has written over 1,000 articles regarding all things payments. I will report this matter to BBB about their sales / marketing strategy for omitting such cancellation fee info. Businesses need cash: Restaurants, Bars & Hotels Automotive Salons & Day Spas Doctors, Dentists & Vets Franchises & more The following is a sample list of complaints filed against United Merchant . I have never had any other merchant?! Get the truth here. Weve resolved overdue accounts for clients without damaging customer relationships. They said they are the cheapest one but they are not. These are charged beyond any percent fees. Once the application process starts, we will find the best merchant account for you. I hope there will be a class action lawsuit and I plan to be a part of it. These processors offer Quickbooks integration and have low rates. 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. Both were resolved to the dissatisfaction of the merchant or received no final response. What are debt settlement/debt relief services and should I use them? Only. If your company does not show any indication that you conform to this act, then your application will be outright rejected. They get you sign up with them for a minimum fees and after few months they hit you with 7% fees. Suggest you consider that Paymentech and many others do not charge this. Learn more about the new debt collection rule. Fortunately, there are providers willing and able to help. This is Uncle Fried Chicken LLC, and The Merchant Solutions are scammers and dont follow their own contract rules. Its important to be able to connect with a real person on the phone. This means that we can offer rates that are a little bit cheaper than most other high-risk merchant account providers. The Merchant Solutions then hit me with a new $99 a year for a so-called PCI Compliance Program charge, a $35. Strongly suggest that anyone does there homework and compare companies for this service. Debt Collection Merchant Account Solutions - National Merchants Association I was very skeptical and was sure that the contract did not disclose a 3yr aggreement or termination fee. To the companys credit, the website for TMS does not appear to engage in any deceptive marketing tactics. We're Proud to Advance Cash to Business Owners Like You. When you should have paid 1.62. When we both know its theirs! The market research firm IBIS World reports that the debt collection industry represented a $13 billion market in the US as of May 2013. 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. 4 Best Merchant Accounts For Collection Agencies. There are also several risk factors and legal issues that can complicate your decision when choosing the proper payment processor. BBB received a pattern of complaints concerning collections practices. THIS WAS A TOTAL LIE. 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.
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