please dont sign up and let people know about that. I was to have 1 account with Merchant Solutions ! JUST SAY NO. From The Editor They charged me $300 for what they called setup charges. Our proven investigation tools help us create fast and effective debt recovery services. These customer chargebacks can make acquiring banks wary of approving merchant account applications from debt collectors. They are beyond shady and dont care at all about customer service!!! This complaint total is somewhat high for a company as small as TMS, and it therefore merits a D grade in our opinion. Which Business Bank Account is Right For You? These companies and people are banned, by federal court orders, from participating in the business of debt collection. Debt collection abuses cause harms that financially vulnerable consumers can ill afford. Banks consider collection agencies as high-risk for several reasons, the first of which being the sometimes-negative public perception of the debt collection industry. You may be surprised to know that this is one of the top reasons why smaller companies end up having to shutter their doors. Our experienced attorneys can help you come up with a strategy to deal with your debt while keeping your business running. This company was nothing but deceitful from the beginning. This post will help: Cancelling a Merchant Account Without Paying a Fee. I have never had any other merchant?! In the United States, all debt collection companies will need to conform to the Fair Debt Collection Practices Act (FDCPA). Moreover, EMB is rate A by Card Payment Options. If you think the bill is not yours, you could call the Attorney General in Tennessee at 615-741-3491. Remove Recovery Solutions Group From Credit Report If that happens, then it will be the merchant account provider on the line. Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services. To support this enormous responsibility we earn some of our revenue through affiliate fees and advertising. Sequoia Financial Services - 2021 While the process for applying for a merchant account with us is not instant, we have been doing this a long time. They will not return my phone calls now. Suggestion to get rid of them is to block them from your bank account, thats how they suggested getting out of a current contract! Other companies may just outright decline your application. I would recommend not to do business with this company. Suite 209 Their customer service is simple horrible. the rep I spoke to became Irrate and told me he didnt appreciate me accusing him of charging bogus fees and he told me he was going to hang up on me. And it was my fault for not reading the fine print on the documents. Although most of these terminals can only process card payments, they also typically include smart features like recurring billing and options to automatically collect funds. 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. They need to see how strong your profits are. How Can Merchants Use Debt Collectors to Recover Chargebacks? Call us now on 877-700-5790 for further assistance. Sending Chargebacks to Debt Collection Since these banks know and trust the quality of our services, they will be able to trust you too. Comp Admin Fee $9.95 Here Are The Processors Who Don't Hide Fees. eMerchantBroker.com is a Los Angeles, California-based company that offers high risk e-commerce processing solutions including debt collection merchant accounts.The company's products include ACH processing, an online payment gateway, merchant cash advance, and a chargeback management system to help merchants dispute and resolve chargeback claims. 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. Merchant Services | Payment Processing Enterprise Solutions | Fiserv See Who The Worst Processors Are. Also even though I had cancelled in June, in July they also charged PCI compliance of $99.00 when I did not even process with them. They get you sign up with them for a minimum fees and after few months they hit you with 7% fees. These merchant account providers offer high-risk businesses like collection agencies a square deal when it comes to payment processing. The sales rep is manipulative and they never disclosed a 400$ cancellation fee or an annual fee. 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. To better understand why we adjust BBB ratings, please see our Rating Criteria. The overall household debt for an average family increased by 11% during the last 10 years. That said, Host Merchant Services exclusively interchange-plus pricing plans may be cost-prohibitive for low-ticket and very new agencies. eMerchantBroker is a registered ISO/MSP of BMO Harris Bank, NA, Schaumburg, Illinois. CFG Merchant Solutions, LLC. 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. What Consumers Should Do When Fake Debt Collection Scammers Call. * The terms and conditions of this promotion currently cannot be found on the website. THIS WAS A TOTAL LIE. 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 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. 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 . 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! they hurt me by taking un authorized money out of my account We're Proud to Advance Cash to Business Owners Like You. We may earn revenue if you obtain services from a provider that we recommend. The Merchant Solutions then hit me with a new $99 a year for a so-called PCI Compliance Program charge, a $35. Merchants Credit Association, is a debt collection company. 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. 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. Several complainants outright accuse the company of being a ripoff or a scam operation. Wehave not found any outstanding class-action lawsuits or FTC complaints filed against The Merchant Solutions. The chargeback will be made against their account. This includes debt collection companies and debt buyers. Instabill offers credit card terminals albeit with little information concerning specific terminal models or features on its website. I have tried to use card reader several times without success. Owe CFG Merchant Solutions? Learn More Here - Tayne Law Group 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. Youll get your merchant account for your collection agency in as little as 24 48 hours. Dont believe anything their salesman tells you on the phone as they will lie to you endlessly and then screw you later. Durango combats consumer-related fraud with anti-fraud protections such as Verified by Visa, Mastercard SecureCode, Fraud Scrubbing, and EMV 3d Secure 2.0. This means that you cannot work with companies like PayPal or Square. Since debt collection merchants are considered high risk, traditional banks and other financial institutions usually try to stay away from this type of businesses. 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. This company is nothing but a fraud. 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. We appreciate it. I used Merchant Solutions for approx. PayKings comes with exclusively tiered pricing plans and only applies lower processing rates to certain qualifying transactions. Debt Collection Agency Merchant Services, Collection Agency Credit Card Milford, DE 19963. Such a provider will have a better understanding of the challenges facing your industry, and they may even advise on how to solve such issues. So not only was I billed WITHOUT my consent, but then they refused to refund more than half. Its important to be able to connect with a real person on the phone. they charged me $450 every month out of total 10k annual monthly. Whether you're looking to save money on processing or to get approved for a merchant account, PaymentCloud can help. 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 ). Sign up today and get a free card reader! Instead, it appears merchants must contact the company directly to learn more about the exact terms of this promotion. Offers automated account application and custom quote processes. EMB is voted the top high risk processor in the US and has an A+ rating with the BBB. Some merchant account providers may offer high fees. Many may find PaymentClouds organization of products on its website to be less than navigable. Its just a penalty fee that they add on you for leaving their company. After saying, I DID NOT SIGN FOR, I DO NOT WANT, AND FURTHERMORE NEVER RECIEVED A TERMINAL FOR A TERMINAL ACCOUT I DID NOT OPEN, BUT I AM AND HAVE BEEN GETTING CHARGED FOR THE PAST 10 MONTHS.I am no closer to solving this problem. For instance, some payment processing providers who work with debt collectors may offer services such as chargeback prevention and no additional cost when processing certain transactions. At this point, I am looking for a new processor . When he isn't writing about IT solutions and innovations that help his clients, he's probably sitting behind a drumkit or adding new hardware to his computer. The collections industry demands compliance with federal and state-level regulations, and payment processors should be able to facilitate easy compliance for debt collectors. They need to see whether you have run into any issues previously, particularly when it comes to chargebacks. Opinions expressed here are authors alone. This means that you will be out of business. What Is A POS System & Choosing The Best For Your Business, Discover The Best Business Credit Cards In 2023, Best Business Credit Cards For Your Nonprofit Organization, Explore Business Credit & Banking Resources, How Signing a Personal Gurantee Affects You. This is why we want to help you get the right debt collection merchant account from the very start. This Post Might Help: Cancelling a Merchant Account Contract Without Paying a Fee. Swipe credit cards securely by implementing PCI compliant payment solutions. DO NOT USE!!! Get clarity before you switch. CardPaymentOptions.com, Inc. All Rights Reserved. Better look for alternatives. If your company does not show any indication that you conform to this act, then your application will be outright rejected. With our underwriting services in place, you can enjoy a much greater success chance of obtaining a merchant account with one of these banks. We can help you to seamlessly integrate eMerchant Authority payment solutions into your business. If youre interested in securing a virtual terminal that you can integrate with your businesss payment processing solutions, we recommend that you choose an online payment processor with systems to combat card-related consumer chargebacks that minimize interruptions to your revenue stream. If you need help with rate and fee negotiations, payment integrations, cost optimization, or provider selection, schedule a consultation here. How To Know If A Debt Collector Is A Scam | Bankrate 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. They have been lying to me since day 1 of signing up with them. Excellent provider for collection agencies with a strong eCommerce presence. Thats why weve broken down the basic features of the best merchant accounts for collection agencies and debt collectors. I agreed to pay back the money that was owned. And because I signed the document, the company is telling me, that I am liable for the contract. Not much, but still more than disclosed. Over the years, we have built up connections with banks all over the world. Early penalty for cancellation. Fast turnaround: as little as 1-2 days. These actions contribute to a negative public perception of the industry and demonstrate to some banks offering merchant accounts that the businesses in the collections industry are high-risk. The Merchant Solutions 2023: Reviews & Complaints - CardPaymentOptions.com Ready to integrate payment processing solutions into your new business? 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. 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. Very shady business practices and a very deceptive sales process. Its website can be hard to use as well. This company is deceitful. The companys chargeback and fraud prevention assistance is a huge help to high-risk collection agencies and can go a long way toward making your customers more satisfied with your customer support systems and less likely to initiate chargebacks. This is Uncle Fried Chicken LLC, and The Merchant Solutions are scammers and dont follow their own contract rules. I had joined Merchant Solutions because they told me there is no contract and no charge for the machine. Merchant Card Advisors specializes in providing comprehensive merchant account services for high-risk businesses, including businesses in the debt collecting sector. I signed up with another company, Triumph Merchant Solutions NOT this company yet this company has illegally debited my account without authorization. Recently contacted The Merchant Solutions about a fee they charged me on my merchant account. The job of the business, however, is to ensure that they have processes in place to keep this risk down to the absolute minimum. Debt Collection Merchant Accounts They will give you false information over the phone and then tell you their salesperson had no authorization to give it. In Summary: 4 Best Merchant Accounts For Collection Agencies. A powerful, two-screen point of sale (POS) system that allows merchants to run their business . You may be surprised to know that this is one of the top reasons why smaller companies end up having to shutter their doors. What out business owners out there about this Merchant Solutions. It was revoked by State of TN. Here are other additional benefits that you receive when you apply for an internet merchant account with eMerchant Authority. Im so glad I read these before making a huge mistake. 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. My request to talk to a supervisor and to review the contract I had supposely sign went unanswered. On the downside, Durango doesnt disclose its pricing plans to the public on its website, which can be frustrating. We have located multiple The Merchant Solutions customer service numbers: (888) 707-2836 Toll-Free Customer Support/Sales : 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. Forgotten Password? Due to the risky nature of your business the typical bank wont deal with you. 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. Anybody have any suggestions for getting out of this company? Save money with Merchant Solutions low processing rates and free terminal program. 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. High-risk specialist with anti-fraud and anti-chargeback protections. If you are a small business owner avoid these crooks like the plague. Requirements: 600+ credit score, 12+ months in business and $100,000+ revenue. We spoke with ANAIS today and were helped with understanding the rates. Banned Debt Collectors | Federal Trade Commission Now illness has caused me to lose my merchant tax ID. To my surprise after trying them out I was told that I had signed a 3 yr contract with a $350 termination fee. 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. I have proof of all deductions after I cancelled. 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. DigiPay Solutions has created a "Debt Collection Industry Primer" with important information about setting up a merchant account, controlling chargebacks, managing risk and keeping merchant accounts in good standing. Youre also working with a business that knows your problem and has the fix. I have been in contact with them for months now, and they still cannot give me a justifiable answer. Learn more about the new debt collection rule. On November 30, 2021, the Debt Collection Rule became effective. 844-868-8436, 877-664-9642, 877-599-2008, 407-544-3632, 814-351-0205, 888-667-0533, 844-378-7772, 386-478-4129, 850-391-2427. We have lowered the companys score in this section to a C to reflect this consistency. Copyright 2020 eMerchant Authority | Website by JM Marketing. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); BE AWARE!! 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. The majority of Americans use loans, credit cards, lines of credit to pay for their lifestyles. Worse company ever. 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. Debt collection businesses should partner with a merchant A business that accepts credit cards for goods or services. Spot the latest COVID scams, get compliance guidance, and stay up to date on FTC actions during the pandemic. Ex. 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. Keep your money you work for and dont use them. This company should not be allowed to do business. I asked him his name and he refused to give it to me, the only reason I know it was Kurt is because I called back and another rep told me. This Post Might Help: Cancelling a Merchant Account Without Paying a Fee. Do you feel like its the right time to start a collection agency? These revenues in no way influence our ratings or reviews. Learn how to resolve this complaint. Amazing! 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. 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. See Which Processors Offer No Monthly Fees And No Contracts. As is the case with our other top choices for debt collection merchant account providers, Soar supports systems for chargeback management and fraud prevention that can make or break the long-term success of any type of collection agency. I had signed up with them thinking they can offer me the lowest rates with a price beat guarantee. 844-66-CFGMS (844-662-3467) 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. For this reason, they are often linked to high complaint totals. services due to the high risk associated with debt collection businesses. (800) 228-0210 Technical Support, The Merchant Solutions also offers a customer service email at [emailprotected]. For me customer support is key and Austin is definitely an asset to this company. From The Editor 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. He was patient and knowledgeable and I am more than pleased with the assistance I receive from the Merchant Solutions. There is no monthly fee but there is a monthly minimum fee meaning if you dont process the requirement you are charged that fee. Learn more about dealing with debt collection at ftc.gov/debt. The collector has to tell you four pieces of information. In some cases, this leads to merchants contracting with debt collection agencies. This lack of transparency in pricing is typical of the industry in general. Fax: (818) 707-7070. 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. 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. All in all, the payment processors high-risk contract terms are reasonable even for lower-volume debt collectors. So then I cancelled and they charged me a $945 restocking reprogramming fee? I cant seem to get anywhere with phone calls to the company and have been shuffled around so much that I think everyone that answers the phone is a supervisorbecause that is always what the last person tells me they are transferring me to. The Fair Debt Collection Practices Act expressly prohibits debt collector conduct meant to "harass, oppress or abuse" you to collect on a debt regardless of whether you owe the debt or. When you ready to cancel their services they hit you with ridiculous restocking fee and cancellation fee. Debt Collections Merchant Account Solutions - eMerchant Authority Phone number: (302) 241-0686. They stealing $1000.00 dollars from my account. TMS offers a dedicated support phone line and an email form on its website. VERY RUDE AND UNPROFESSIONAL.THEY ARE TRYING TO BLIND SIDE THEIR CUSTOMERS AND ROB THEM OF THEIR MONEY. The Merchant Solutions rates as an average merchant services provider across the board according to our rating system. Withdrew $900 from my account and told me that it was a $400 termination fee and $500 for the keypad. Debt Collection FAQs | Consumer Advice By working with eMerchant Authority, this is a problem that can be avoided. I attempted to cancel my contract and they are trying to hit me with over $1000 in last min charges. Although Soars $495 early termination fee (for some accounts) may be steep, the termination fee is voided after the initial contract period. After he review my merchant statement he promised me that Im going to save $100.00 a month, I signed & cross the $495.00 early termination fee & initial the pages. Also when you call they have no customer service and are rude on the phone. 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. 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. They never have any answers and are only looking for ways to disconnect you.
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