merchant solutions group debt collection merchant solutions group debt collection

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. Since 2017, Noah has worked for federal, state, and commercial clients as a proposal writer, technical writer, copywriter, and analyst. The job of the business, however, is to ensure that they have processes in place to keep this risk down to the absolute minimum. 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. The .gov means its official. Its like they try to rip you off once last time b4 they let you go. 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. service provider that has expertise in high-risk merchant A business that accepts credit cards for goods or services. Due to the risky nature of your business the typical bank wont deal with you. Within a month or two they charged me a yearly acct fee of $80.00 and then out of the blue raised the monthly rate to $20.00. Which Collection Agency Merchant Account Is Right For My Business? I am still waiting on on calls from their supervisors from last year. If anyone has a better option please let me know. If they cannot guarantee this, then you will likely not be offered a high-risk merchant account with that company. Our proven Merchant Cash Advance (MCA) default recovery solutions are proven to turn your delinquent accounts back into cash. Address: Recovery Solutions Group. processing as well as the collections industry, in order to support compliance and best practices adherence . Wehave not found any outstanding class-action lawsuits or FTC complaints filed against The Merchant Solutions. 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. All they want is your money. Our services are secure and reliable. This has Been the worst POS processing company I have ever felt with. They never have any answers and are only looking for ways to disconnect you. Debt collection abuses cause harms that financially vulnerable consumers can ill afford. This field is for validation purposes and should be left unchanged. Independent sales agents are often paid by commission and are therefore motivated to sign merchants to the most expensive contract terms they can. 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. 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. Other companies may just outright decline your application. 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. And, likeseveral other merchants weve covered in this article, Soar doesnt publically disclose its pricing plans on its website. I should have closed my bank account the minute we closed our business so I could have avoided all of this. When you ready to cancel their services they hit you with ridiculous restocking fee and cancellation fee. They stealing $1000.00 dollars from my account. The Signature page of the second contract is an EXACT COPY of the account I did open. Look out for credit card processors who offer other merchant solutions that could be useful for your business. If you can get one who has worked with businesses in the debt collection industry, the better. Neither of these 2 complaints was resolved by the company to the satisfaction of the merchant. Then I began getting charged a PCI non compliant fee $40.00. You may be charged fees for using this account. 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. Going to BBB and will get attorney if I have to. 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. They dont deserve a BBB rating they suck!!!! 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. If you have your own The Merchant Solutions review to make, please do so in the comments below. Specialized account support for multiple collection agency types. I have filed a complaint with the bbb and am probably going to get a attorney to get my money back. And particularly so for debt collectors due to the consumer demographic of debtors. Also when you call they have no customer service and are rude on the phone. Trouble Getting Approved? Monthly Processing RangeUnder $1,000$1,000 - $5,000$5,000 - $25,000$25,000 - $50,000$50,000 - $100,000Over $100,000. Have tried reaching them, asking for copy of contract which states there is a restocking fee and additional charges, but have yet to receive it (its been 6 weeks) or no response as to additional charges (messages left and emails sent). 180 Maiden Lane, 15th Floor. 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. eMerchant Authority specializes in merchant accounts for high-risk businesses; this includes debt collection agencies. I finally called and asked to cancel they told me I was in a 3yr contract, I was never told this or else I wouldnt signed up for this torture. The Best Merchant Accounts For Collection Agencies & Debt Collectors. 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. These businesses are associated with a higher rate of risks related to payment processing and a large volume of chargebacks. 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. Its just a penalty fee that they add on you for leaving their company. (800) 228-0210 Technical Support, The Merchant Solutions also offers a customer service email at [emailprotected]. 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. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); BE AWARE!! if anyone do business with this scums be prepared to have a high blood pressure. 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. Excellent provider for collection agencies with a strong eCommerce presence. They are beyond shady and dont care at all about customer service!!! Their customer service is terrible, they are never reachable. 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. 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. This means that you could, effectively, lose your ability to run your business. 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 Merchant Solutions provides credit card, debit card, EBT, gift card, ATM, and check acceptance. Higher cost than explained in solicitations Home; Services Healthcare Services; Consumer Business Collections . He has also researched and published reviews about nearly every payment services provider and processor. Numerous calls went straight to voicemail without any return calls. This Post Might Help: Best Restaurant Merchant Accounts. Copyright 2020 eMerchant Authority | Website by JM Marketing. At Monetaria, we understand that your MCA agreements are time-sensitive. Your Merchant Cash Advances help commercial businesses succeed. I hope there will be a class action lawsuit and I plan to be a part of it. Ensure you understand the contract terms and all the costs involved with the credit card payments before you sign the contract. $35.00 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. They want me to pay almost $900.00 for equipment I dont use. They said they had cancelled the account, but the following month we were charged again. I attempted to cancel my contract and they are trying to hit me with over $1000 in last min charges. * The terms and conditions of this promotion currently cannot be found on the website. Disgusted. 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. This is Uncle Fried Chicken LLC, and The Merchant Solutions are scammers and dont follow their own contract rules. Any unauthorized copying and reproduction of the content of this page, including all meta data and computer code, is strictly prohibited. Pam called me offering a competitive rate for credit card processing. Note: We have adjusted this companys BBB rating according to our own standards. Your business cannot opt for a standard merchant account here. We may earn revenue if you obtain services from a provider that we recommend. MerchantBroker is a registered ISO/MSP of BMO Harris Bank, NA, Schaumburg, Illinois. $1350 fee if terminal is not returned within 10 days. With our underwriting services in place, you can enjoy a much greater success chance of obtaining a merchant account with one of these banks. Also, youll be required to submit the following: Your collection agency must be legal when your applications are being reviewed by processors and underwriters. 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. You may be surprised to know that this is one of the top reasons why smaller companies end up having to shutter their doors. I called to complain upper management said theres nothing they can do I sign the contract Im the one going to get screwed complete scam scam scam! 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. Under federal law, a debt collector must send you a written validation notice within five days after they first contact you. 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 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. I paid $99 for $1000 and for another $1000 i paid $119 it means more than 10% 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. They would take their sweet time to deposit my earnings but would immediately make unauthorized withdraws, even after my account had been closed. For this reason, they are often linked to high complaint totals. They refuse to refund the money. This means that you will be out of business. Payment gateways transmit data between an agencys point of transaction and the receiving payment processor. Merchant Solutions is a very dishonest processor. However, pricing is not disclosed on either of those services. The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. 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. They terminated my account for non use since I was using another company and had not transferred over yet. Processing statements are intentionally complicated so that they can overcharge you. Run, dont Walk, from the Hustler Con Artists at The Merchant Solutions. The companys rating is also impacted by its higher-than-average complaint total with the BBB. 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. One The Merchant Solutions complaint mentions that TMS relies on Authorize.Net or PC Charge Pro for its online payment gateway; if this is the case, Authorize.nets payment gateway will be chargeda per-transaction fee of 2.90% plus $0.30 and a daily batch fee of $0.10 in addition to the $25 monthly gateway fee. I was to have 1 account with Merchant Solutions ! The drawbacks that render PayKings a less-than-perfect merchant account provider are similar to the drawbacks that come with eMerchantBroker. My request to talk to a supervisor and to review the contract I had supposely sign went unanswered. Essentially, they steal from the customer. 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. Also that free terminal will cost you $350 when you try to cancel the account. In the podcast below, Phillip explains how credit card processing and credit card fraud affects business owners. This does not compare favorably to our list of best credit card processors. The sales rep is manipulative and they never disclosed a 400$ cancellation fee or an annual fee. $695 for early termination,$1500 programming fee, I have never hear of any company charging a programming fee. CardPaymentOptions.com, Inc. All Rights Reserved. eMerchant Authority works exclusively with businesses, such as credit repair companies, that have been deemed to be high-risk clients. They have fees for everything when you cancel or have to end your contract early. Today they transferred $70 out of the bank account which now has been shut down over theyre crazy charges. The Merchant Solutions processes most major payment types. per month so-called PCI-DSS Validation Fee , a $19 per month so-called Data Breach Security Program fee, plus kilobyte fees: fixed network CP Fee etc I immediately packed up their credit card machine and shipped it back to them with a written demand to close my account immediately. However, you need to hire a merchant debt collector account provider who offers merchant collection solutions that meet your company's needs.. To know the right provider, here are factors to consider when . Amazing! But unlike other financial transactions, you don't have time to spend phoning and e-mailing. The collector has to tell you four pieces of information. When you should have paid 1.62. I have proof of all deductions after I cancelled. In some cases, this leads to merchants contracting with debt collection agencies. Take a few minutes to get comfortable with the process of choosing a provider for your debt collection agency and learn how to decide on a provider with minimal frustration. This Post Might Help: Cancelling a Merchant Account Without Paying a Fee. Not much, but still more than disclosed. Pure scam artists just looking to steal your hard earned money. After i cancle my account they charged me 200$ come out of no where. Click here to earn a reward. When I wanted to cancel they wouldnt send me the cancellation form for weeks. 100$ fee come out of no where every month, and when i called them they said that 100$ fee only apprea once a year. Lina M. Khan was sworn in as Chair of the Federal Trade Commission on June 15, 2021. They have terrible reviews on google and many many complains on BBB. 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. 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. An official website of the United States government. BEWARE OF THESE DOGS! Get Started With Durango Merchant Services. A full point-of-sale (POS) system in one sleek package. To know the right provider, here are factors to consider when looking for a debt collection agency for your debt collection business. Durango combats consumer-related fraud with anti-fraud protections such as Verified by Visa, Mastercard SecureCode, Fraud Scrubbing, and EMV 3d Secure 2.0. Its a TOTAL SCAM! Bitty advance immediately escalated my debts to Recovery Solutions Group and they have been harassing me ever since. This company needs to be put out of business. Find legal resources and guidance to understand your business responsibilities and comply with the law. Memo from Chair Lina M. Khan to commission staff and commissioners regarding the vision and priorities for the FTC. They charge you all kinds of fees which your not told about. The sole purpose of the material presented herein is to alert, educate, and inform readers. Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity.