STAY AWAY. Trouble Getting Approved? After I cancelled my account with them, they debited my account $50.00 to refurbish the terminal they provided free of charge. eMerchant Authority prides itself in being a leader when it comes to the provision of merchant account solutions.
If you think the bill is not yours, you could call the Attorney General in Tennessee at 615-741-3491. A recent negative review mentions poor sales techniques: Merchants that are worried about undesirable fees being added to their contracts should review which contract terms to avoid. Essentially, they steal from the customer. Search the Legal Library instead. Strongly suggest that anyone does there homework and compare companies for this service. Copyright 2023 eMerchantBroker, LLC. Problems logging in? Its website can be hard to use as well.
Login - vt.merchante-solutions.com reporting it to the relevant supervisory organizations, top-rated payment processors for customer service, Cancelling a Merchant Account Without Paying a Fee, How to Get Out of a Merchant Account Contract, How to Make Your Payment Processor Release Your Money, Cancelling a Merchant Account Contract Without Paying a Fee. Merchants Credit Association, is a debt collection company.
The creditor may also hire a debt collector or sell the debt to someone who may try to collect the debt. What out business owners out there about this Merchant Solutions. close down your account. Save money with Merchant Solutions low processing rates and free terminal program. The salesperson on the phone neglect to inform me of a cancellation service fee of $900.49
Debt Collection Merchant Services - Merchant Card Advisors 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. Annual Fee $79.00
Debt Collection Merchant Account Solutions - National Merchants Association What Consumers Should Do When Fake Debt Collection Scammers Call. Lets start with the salesman Daniel A. Zero star rating, they are big time scam When account underwriters are deciding the fees or terms for working with them, they will need to see the finances of your business. There is no monthly fee but there is a monthly minimum fee meaning if you dont process the requirement you are charged that fee. 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. Which Business Bank Account is Right For You? Cancellation take place 30 days after the day is cancel and tones of ridiculous fee charged during those 30 days. This complaint total is somewhat high for a company as small as TMS, and it therefore merits a D grade in our opinion. Address: Recovery Solutions Group. The collector has to tell you four pieces of information. Numerous calls went straight to voicemail without any return calls. A handful of debt collectors employ scare tactics such as calling debtors around the clock or harassing them in person for collections. eMerchant Authority can help with this.
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. 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.
Seattle Collection Agency | Merchants Credit Association Under federal law, a debt collector must send you a written validation notice within five days after they first contact you. Very rude on phone, does not care about you as a customer. This means that you will be out of business. Working with a debt settlement company may lead to a creditor filing a debt collection lawsuit against you.
Calls from United Merchant Asset Recovery? - Consumer Law Firm Center Lots of hidden fees that other companies dont charge! The company never disclosed high fees , fees for not taking a test, and excessive closing fees. Keep up the excellent work Austin and thank for helping us through out the entire setup process. Dont give them, or their mother company, First Data, your business!!! For this reason, they are often linked to high complaint totals.
Merchant Cash Advance Debt Collection Services | Monetaria In some cases, this leads to merchants contracting with debt collection agencies. I had joined Merchant Solutions because they told me there is no contract and no charge for the machine. Specialized account support for multiple collection agency types. By working with eMerchant Authority, this is a problem that can be avoided. See Which Processors Offer No Monthly Fees And No Contracts. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); BE AWARE!! They never have any answers and are only looking for ways to disconnect you. High-risk specialist Durango Merchant Services ability to place accounts for merchants with histories of excessive chargebacks is invaluable to new collection agencies. Click here for more product information. We appreciate it.
Los Angeles Debt Collection - Credit Consulting Services 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. You may be surprised to know that this is one of the top reasons why smaller companies end up having to shutter their doors. DONT BELIEVE IN ANYTHING THEY SAY ALL LIES AND FRAUD!!! So then I cancelled and they charged me a $945 restocking reprogramming fee? Call us now on 877-700-5790 for further assistance. Ex.
Do not give them your business. 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 have fees for everything when you cancel or have to end your contract early. This is an attempt to collect a debt and any . They really do not want to do this. The market research firm IBIS World reports that the debt collection industry represented a $13 billion market in the US as of May 2013. This is why we want to help you get the right debt collection merchant account from the very start. They terminated my account for non use since I was using another company and had not transferred over yet. They will give you false information over the phone and then tell you their salesperson had no authorization to give it. Instabills main draw is its services to high-risk international merchants that process offshore payments, although its support for brick-and-mortar agencies that need on-site payment processing leaves something to be desired.
Debt Collection Agency Merchant Account| Fast Approval Learn how to resolve this complaint. This company needs to be put out of business. Your Merchant Cash Advances help commercial businesses succeed. Then I began getting charged a PCI non compliant fee $40.00. Beware, do not do business with merchant solutions. We occasionally send out emails with special offers. 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. I would have never ever sign up for such a service, if the salesperson would mentioned this info to me. 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. Due to the risky nature of your business the typical bank wont deal with you. The sole purpose of the material presented herein is to alert, educate, and inform readers. PaymentCloud can help almost any business get approved for payment processing. The following vendors dont currently make the cut for our list of best merchant account providers due to drawbacks like fees and rates, contractual obligations, and relative lack of products and services provided. This form is for feedback only. And, likeseveral other merchants weve covered in this article, Soar doesnt publically disclose its pricing plans on its website. Specifically, consumer complaint activity alleges this business claims to be a law firm attempting to collect on debts that. There is also $395 restocking fee, and $550 reprogram fee when you have to return their pin pad. Start by leaving a comment at the end of this review, Compare Top Rated Processors: Compare Rates, Reveal your hidden fees: Audit Your Statement, Working in merchant services: Our Free Guide. 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. Requirements: 600+ credit score, 12+ months in business and $100,000+ revenue. This Post Might Help: Best Restaurant Merchant Accounts. These businesses are associated with a higher rate of risks related to payment processing and a large volume of chargebacks. Instabill offers credit card terminals albeit with little information concerning specific terminal models or features on its website. New York, NY 10038. Still interested? 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. Were dedicated to B2B debt recovery.
Best Merchant Accounts for Debt Collection Agencies EMB is voted the top high risk processor in the US and has an A+ rating with the BBB. 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. The majority of Americans use loans, credit cards, lines of credit to pay for their lifestyles. Keep your money you work for and dont use them. Since these banks know and trust the quality of our services, they will be able to trust you too. Product & company names, logos, and trademarks referred to on this site belong to their respective owners. 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. JUST SAY NO. I am still waiting on on calls from their supervisors from last year. This is Uncle Fried Chicken LLC, and The Merchant Solutions are scammers and dont follow their own contract rules. Copyright 2023 eMerchantBroker, LLC. is the best thing you can do to improve your business cash flow and offer more payment options to your customers. Today was the last straw which we really been shut down since April over covid19. Phillip Parker is an independent digital payment consultant specializing U.S. and Canadian point-of-sale, ecommerce, and mobile payment acceptance. Although Soars $495 early termination fee (for some accounts) may be steep, the termination fee is voided after the initial contract period. According to The Merchant Solutions complaints filed on this site and elsewhere, TMS appears to offer a standard contract of three years with automatic renewal, an annual fee of $79, a PCI compliance fee of $99, and an early termination fee of $395 or more. This field is for validation purposes and should be left unchanged. These revenues in no way influence our ratings or reviews. While the process for applying for a merchant account with us is not instant, we have been doing this a long time. 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.
Merchant Cash Advance in Collections: What to Do It is just one of the many ways that MS has cost me money unnecessarily, including missed charges, delayed refunds, poor customer service and unnecessary payments. Forgotten Password? Now they have charged me with a PCA compliance processing fee of $149, payable annually. Since 2017, Noah has worked for federal, state, and commercial clients as a proposal writer, technical writer, copywriter, and analyst. 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! Also when you call they have no customer service and are rude on the phone. Credit Card Processing for Debt Collection Businesses The worst company to do business with ever!!!! In Summary: 4 Best Merchant Accounts For Collection Agencies. 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. If that happens, then it will be the merchant account provider on the line. These people are the biggest crooks Ive ever encountered. Processing statements are intentionally complicated so that they can overcharge you. Offers automated account application and custom quote processes. In addition, they told us the transaction fee would be 2.65% of each purchase. Note: We have adjusted this companys BBB rating according to our own standards. See Who The Worst Processors Are. And because I signed the document, the company is telling me, that I am liable for the contract. The second your merchant account closes down is the second that you are no longer able to accept payments for your company. It's a cut throat industry. I paid $99 for $1000 and for another $1000 i paid $119 it means more than 10% As expected, a large number of The Merchant Solutions reviews on this and other consumer protection websites mention undisclosed fees, incomplete representation of rates, and a disconnect between what agents promise and what they ultimately deliver. They are crooks. From The Editor They Rip you off way more than wat they told you they would charged. Different benefits and drawbacks that come with high-risk merchant account providers make it particularly tricky for new agencies to find a merchant account thats the right match for them. This company hires predatory sales people, arent up front about fees and raped my bank account. We take great pride in providing one of the only objective an unbiased merchant account review websites on the internet. if anyone do business with this scums be prepared to have a high blood pressure. 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. But the majority of merchant-acquiring banks reject applications from debt collectors because of the collections industrys complicated reputation. They may even have maximum limits to any transactions that you complete.
Merchant Solutions Group - Merchant Cash Advance | Working Capital They said they are the cheapest one but they are not. 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. 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 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. If so, you may be a victim of United Merchant Asset Recovery debt collection harassment. Some of these limitations can be pretty tough on a business, particularly in their early days. Seeking to take them to court for their theft. Instead, you need to search for high-risk merchant accounts. So, its no surprise that banks often deny them merchant accounts. We can help you to seamlessly integrate eMerchant Authority payment solutions into your business. We are not being charged an ADDITIONAL $159.90 (received bill in the mail) with no explanation of what the fee (s) is for. But unlike other financial transactions, you don't have time to spend phoning and e-mailing. 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). I will report this matter to BBB about their sales / marketing strategy for omitting such cancellation fee info. With our underwriting services in place, you can enjoy a much greater success chance of obtaining a merchant account with one of these banks.
Home - Merchant Solutions LLC I have tried to use card reader several times without success. We spoke with ANAIS today and were helped with understanding the rates. 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. I left MerchantSolutions a number of months ago, even though it cost me remaining monthly fees until my contract expires. Most merchant providers are reluctant to offer. These people are down right crooks! Memo from Chair Lina M. Khan to commission staff and commissioners regarding the vision and priorities for the FTC. When their machine failed, they blamed me even though the manufacturer of the machine explicitly explained to me that TMS was to blame for connection security error. This means that the process is fast. Besides, we understand just how financially difficult it is to become a business owner.
Complaints for Recovery Solutions Group, LLC - Better Business Bureau Speaking of unreliable income streams, most collection agencies struggle with customers who dispute the validity of past-due payments with banks and credit card companies. It took me 2 weeks of calling NON-STOP to get any response. If you have already signed up with them, get out fast. He has a BA in Creative Writing and a Minor in German from Goucher College. We can also provide the tools that you need to generate financial reports for any money passing through your merchant account. Fast turnaround: as little as 1-2 days. Wehave not found any outstanding class-action lawsuits or FTC complaints filed against The Merchant Solutions. 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. I was told by a company Rep, Ray Siddique, that there will not be any hidden fees or cancellation fees ever, and they will offer the best lowest deal. They have hired unqualified reps who dont know how to initiate talks with a new business, seems like working for paycheck only, doesnt seem they take ownership in helping future customers. They charged me $300 for what they called setup charges. EMB offers customized payment solutions to collection agency merchants that offer these services: To get your merchant account, you just need to fill out EMBs quick online application. Teaming with IVR Technology Group, we also provide pay-by-phone voice . 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. These processors offer Quickbooks integration and have low rates. I set up a payment arrangement . 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. Do not believe anything they say about their service. 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. service to inform clients in a respectful and professional manner of the status of their account before it becomes bad debt. service provider that has expertise in high-risk merchant A business that accepts credit cards for goods or services. 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 need to see how strong your profits are. Over the years, we have built up connections with banks all over the world. Help us to improve by providing some feedback on your experience today. We enforce federal competition and consumer protection laws that prevent anticompetitive, deceptive, and unfair business practices. Merchant Mavericks ratings are not influenced by affiliate partnerships. Worse company ever. eMerchantBroker can . Home (425) 643-2613 (800) 755-1107. This is a business that is rife with fraud and chargebacks. Of course, we will provide you with all of the tools that you need to process 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. I should have closed my bank account the minute we closed our business so I could have avoided all of this. 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. Whats more, the debt collection industry is regulated by federal authorities including the FDCPA and CFPB, and is subject to legal requirements that vary on a state-by-state basis.
Fake and Abusive Debt Collectors | Consumer Advice 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. I am still trying to get that back. I was told thay my rates would be as low as 1.5%. they are liars, I just got ripped off $695 from early determination fee and my contract is do in two months thats why they did it i im sooo pisss right now i wish one of them will go to my business again to offer anything ?????? DO NOT use this company. 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. 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. Additional rates and fees, including a technical support fee may apply. 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%. BE AWARE!!! 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. Try PaymentCloud. This company was nothing but deceitful from the beginning.