Opens accounts with terms not agreed to. Help with PCI compliance is a godsend for businesses that operate in the highly regulated collections industry. Best Merchant Accounts for Debt Collection Agencies Debt Collection Agencies & Lawyers in New York If you received a court Summons and Complaint, or have been threatened with lawsuit for a consumer credit card account in the states of New York and New Jersey by one of the collection agencies below, or by one of their debt collection lawyers, contact us to learn your rights. These people called me for weeks and sent me all kinds of sales materials when my business started. Ive called them over 15 times, and each time they blow me off, or offer me a partial refund if I delete the negative (yet accurate) Yelp and Rip Off Report reviews I left them. No mention of 3 year contract and no proof of it. Debt Collection Merchant Account Solutions - National Merchants Association We have lowered the companys score in this section to a C to reflect this consistency. All they do is to get you sign up the contract, but be sure to read the fine print on auto renew, they will auto renew you into another contract even their machine never works. You will not have enough time to do it, the machine terminal breaks all the time. There are a bit more than 9.000 businesses in the industry that employ over 150.000 people. Horrible company. I have tried to use card reader several times without success. If you are a small business owner avoid these crooks like the plague. I should have closed my bank account the minute we closed our business so I could have avoided all of this. It is worth noting that being a high-risk company does not mean that your application for a merchant account will always be rejected. It took me 2 weeks of calling NON-STOP to get any response. . 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. 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. Also when you call they have no customer service and are rude on the phone. 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. Before You Switch Processors, Find Out How Other Businesses Got Fee Refunds From Their Current Processor. Copyright CardPaymentOptions.com, Inc. (Digital Fingerprint: 0d38c6720f0d78a701b74d58653af608). This was not in our contract, but I couldnt get the money back without suing them. PCI Non-Cpmpliance. 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. Ready to integrate payment processing solutions into your new business? How to look up licensees and those debt collectors allowed to do They will give you false information over the phone and then tell you their salesperson had no authorization to give it. Here Are The Processors Who Don't Hide Fees. The Merchant Solutions is definitely THE worst credit card company EVER!!!! You may be charged fees for using this account. Merchant Processing Advisors can find multiple merchant account providers and can offer virtual terminals and payment gateways that allow their clients to process payments in a secure manner. 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. Horrible company. Phillip Parker is an independent digital payment consultant specializing U.S. and Canadian point-of-sale, ecommerce, and mobile payment acceptance. The Merchant Solutions has been accredited with the Better Business Bureau since 2010 and currently has an A+ rating and has received 2 complaints in the past 36 months. John in Customer Service was wonderful today with assisting me with the set up for my new Walker Bluetooth. Withdrew $900 from my account and told me that it was a $400 termination fee and $500 for the keypad. Learn more about the new debt collection rule. 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. : 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. 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. Our services are secure and reliable. The majority of Americans use loans, credit cards, lines of credit to pay for their lifestyles. 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. Complaints for Recovery Solutions Group, LLC - Better Business Bureau I will NEVER consider using them again. We occasionally send out emails with special offers. Use our visualizations to explore scam and fraud trends in your state based on reports from consumers like you. Product & company names, logos, and trademarks referred to on this site belong to their respective owners. 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. Comp Admin Fee $9.95 The risks related to your business will be assessed by underwriters. We have focused on merchant cash advances over two decades. In addition to those 2 complaints, the company has received 58 informal reviews. The Merchant Solutions, founded in 1999, is a small merchant account provider based in Woodland Hills, California. The site is secure. 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. We are not being charged an ADDITIONAL $159.90 (received bill in the mail) with no explanation of what the fee (s) is for. 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. Their customer service is terrible, they are never reachable. High-risk specialist for U.S.-based collection agencies. Which Collection Agencies Will Accept a Pay For Delete Agreement? That said, Host Merchant Services exclusively interchange-plus pricing plans may be cost-prohibitive for low-ticket and very new agencies. Address: Recovery Solutions Group. 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. These people are the biggest crooks Ive ever encountered. Debt Collection Agency Merchant Services, Collection Agency Credit Card The Merchant Solutions homepage previously advertised a $1,000 Savings Guarantee, stating If we cant save you money on processing, well give you $1,000! Note: We have adjusted this companys BBB rating according to our own standards. 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. See Which Processors Offer No Monthly Fees And No Contracts. Since these banks know and trust the quality of our services, they will be able to trust you too. SAVE YOURSELF THE HEADACHE! 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. They are charging me a huge fee to cancel. Get Your Quote. When account underwriters are deciding the fees or terms for working with them, they will need to see the finances of your business. 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. But some payment processors may provide only limited support for brick-and-mortar payment processing or may only provide specific processing hardware on a lease. Debt Collection Merchant Accounts They Are Not truthful about their service. Click here to earn a reward. Find Loan Options For Your Small Business. They get you sign up with them for a minimum fees and after few months they hit you with 7% fees. 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. Its like they try to rip you off once last time b4 they let you go. Then to my horror these con-artists actually refused to close my account and continue to send me monthly bills to this day. Read more below to learn why we chose these options. 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. This means that we can offer rates that are a little bit cheaper than most other high-risk merchant account providers. How to tell the difference between a legitimate debt collector and Sequoia is located in the Agoura Gateway at: Agoura Hills, CA 91301. Im so glad I read these before making a huge mistake. The second your merchant account closes down is the second that you are no longer able to accept payments for your company. The competition is real with so many POS servicing company. 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. The sales rep never returned my calls and is no longer with thw company. 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. They actually added 19 pages to our contract virtually and said we signed them 1 1/2 years after signing the original. This company is deceitful. 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. processing as well as the collections industry, in order to support compliance and best practices adherence . To get a reliable and low-cost collection agency merchant account, you just need to turn to emerchantbroker.com. We can help you to seamlessly integrate eMerchant Authority payment solutions into your business. Seeking to take them to court for their theft. Independent sales agents are often paid by commission and are therefore motivated to sign merchants to the most expensive contract terms they can. Zero star rating, they are big time scam Businesses need cash: Restaurants, Bars & Hotels Automotive Salons & Day Spas Doctors, Dentists & Vets Franchises & more I have proof of all deductions after I cancelled. 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. And because I signed the document, the company is telling me, that I am liable for the contract. Seattle Collection Agency | Merchants Credit Association Respectable processors like EMB guarantee a fast, secure application process. Now they have charged me with a PCA compliance processing fee of $149, payable annually. please dont sign up and let people know about that. With EMB, you can enjoy chargeback management tools, payment gateways, and fraud filters. Milford, DE 19963. Call 1-888-288-2692. With a unique regulatory background and experience in high-risk industries, Flex Payment Solutions offers credit card processing that integrates simply with your system, full transparency on fees and 100% compliance. These customer chargebacks can make acquiring banks wary of approving merchant account applications from debt collectors. 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 Signature page of the second contract is an EXACT COPY of the account I did open. Most merchant providers are reluctant to offer. If you want to pay unregulated fees like a $9.99 a month regulatory fee and a $6.95 monthly data insurance fee and a $150.oo yearly anuall PCI FEE this is the processor for you.. 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. Any and all use of trade names and/or marks are for identification purposes only and shall not be construed as a claim of affiliation, or otherwise, with CardPaymentOptions.com, Inc. ("CPO") in any form. The job of the business, however, is to ensure that they have processes in place to keep this risk down to the absolute minimum. There are also several risk factors and legal issues that can complicate your decision when choosing the proper payment processor. Remove Recovery Solutions Group From Credit Report On November 30, 2021, the Debt Collection Rule became effective. eMerchantBroker can . It was revoked by State of TN. Your email address will not be published. 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. Neither of these 2 complaints was resolved by the company to the satisfaction of the merchant. Looking For One Of These Merchant Accounts For Collection Agencies? Excellent provider for collection agencies with a strong eCommerce presence. This means that you can always stay on top of any transactions that you are making. If you think the bill is not yours, you could call the Attorney General in Tennessee at 615-741-3491. This has Been the worst POS processing company I have ever felt with. Merchants Credit Association, is a debt collection company. Monthly Processing RangeUnder $1,000$1,000 - $5,000$5,000 - $25,000$25,000 - $50,000$50,000 - $100,000Over $100,000. This form is for feedback only. Beware, do not do business with merchant solutions. If so, you may be a victim of United Merchant Asset Recovery debt collection harassment. 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. 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. They need to see whether you have run into any issues previously, particularly when it comes to chargebacks. The debt collector refers to themselves as an investigator, or that they will contact the investigator on your case. how much money you owe. 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. The Merchant Solutions offers a variety of e-commerce services, Audit Your Current Statement To Find Its Hidden Fees. not explained. I had signed up with them thinking they can offer me the lowest rates with a price beat guarantee. 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. All feedback, positive or negative, helps us to improve the way we help small businesses. Suggestion to get rid of them is to block them from your bank account, thats how they suggested getting out of a current contract! 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. Although Soars $495 early termination fee (for some accounts) may be steep, the termination fee is voided after the initial contract period. Working with a debt settlement company may lead to a creditor filing a debt collection lawsuit against you. Were dedicated to B2B debt recovery. Save yourself stress and aggravation and sign up with a different processor. We also encourage merchants to check out our list of the providers of the best merchant accounts. This credit card processing company is HORRIBLE! Virtual terminals let business owners access a secure web page to process their customer payments with a built-in dashboard thats similar to a physical card reader. They constantly slip in unauthorized charges. When we both know its theirs! 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. Keep up the excellent work Austin and thank for helping us through out the entire setup process. Youll first need to navigate the logistics of processing different customer payment types with different pieces of hardware. 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. Check out our complete list of High-Risk Merchant Account Reviews for more traits that other top-performing high-risk specialists have in common. Are you with The Merchant Solutions? 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. This includes debt collection companies and debt buyers. The Merchant Solutions also appears to resell the products of First Data (Fiserv). I was skeptical and decided not to switch to merchant solutions. Sending Chargebacks to Debt Collection 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.. Teaming with IVR Technology Group, we also provide pay-by-phone voice . Tayne Law Group is a New York-based debt resolution law firm that helps small business owners resolve debts of all sizes. Why Is Credit Card Processing For Collection Agencies Considered High Risk? Upon cancellation after over 4 years I returned the machine in good order. These companies and people are banned, by federal court orders, from participating in the business of debt collection. Merchant Cash Advance Debt Collection Services | Monetaria Maintaining these ratios is challenging for merchants in many industries. Debt Collection Industry and Merchant Accounts Youre also working with a business that knows your problem and has the fix. This Post Might Help: Cancelling a Merchant Account Without Paying a Fee. Merchant Mavericks ratings are not influenced by affiliate partnerships. Search the Legal Library instead. As is the case with other industries that fall into the high-risk category, collection agencies operate in an unstable regulatory climate and unfortunately experience a higher risk of unreliable streams of income. 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. This is according to the 2016 American Household Credit Card Debt Study by Nerd Wallet. Get your cash flowing again with our Merchant Cash Advance debt recovery solutions. After i cancle my account they charged me 200$ come out of no where. Debt Collection FAQs | Consumer Advice They do not inform you before they process the money out of your account, Which in my opinion is bad business practice. 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. Signature not by me, computer generated. Since debt collection merchants are considered high risk, traditional banks and other financial institutions usually try to stay away from this type of businesses. 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. Needless to say, I immediately sent the keypad and tracking revealed they received it in 3 days. The author and publisher shall in no event be held liable to any party for any direct, indirect, punitive, special, incidental or other consequential damages arising directly or indirectly from any use of this material, which is provided as is, and without warranties. In the United States, all debt collection companies will need to conform to the Fair Debt Collection Practices Act (FDCPA). Now illness has caused me to lose my merchant tax ID. I attempted to cancel my contract and they are trying to hit me with over $1000 in last min charges. Total $247.95. Click here for more product information. Square is a top choice for POS for any type of business. Stephanie T. Nguyen, Chief Technology Officer, Include spaces in matter number if applicable. Thousand Oaks, CA 91362. 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. The Merchant Solutions then hit me with a new $99 a year for a so-called PCI Compliance Program charge, a $35. Let us know how well the content on this page solved your problem today. They charge you all kinds of fees which your not told about. They are thieves because they stole money from my account and wont make it right with me. Debt Collection Agency Merchant Account| Fast Approval The companys rating is also impacted by its higher-than-average complaint total with the BBB. They stealing $1000.00 dollars from my account. WOW, I wish there is a -star to rate this company, when i first started using my pos, it kept taking the money i received from my clients to a different bank account in a different state, and it took them 3 months to fix this and get my money back. PaymentCloud provides users with advice on choosing a chargeback management service and fraud mitigation service. We take great pride in providing one of the only objective an unbiased merchant account review websites on the internet. (800) 228-0210 Technical Support, The Merchant Solutions also offers a customer service email at [emailprotected]. Debt collectors that are trained properly cannot act in a false or misleading manner in an effort to get you to pay. The following is a sample list of complaints filed against United Merchant . The types of collections that different agents and agencies deal with, though, can vary widely. 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. They round up everything, even when they shouldnt according to elementary mathematics! There are more than 50 negative The Merchant Solutions reviews on this and other consumer protection websites, and many of these The Merchant Solutions complaints have been posted within a year of this update. 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. 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. When you choose us, youre not just getting back your assets. Also, youll be required to submit the following: Your collection agency must be legal when your applications are being reviewed by processors and underwriters. 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? This company, Merchant Solutions, is a fraud. 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. Our experienced attorneys can help you come up with a strategy to deal with your debt while keeping your business running. Should have know. I have been with them since 2015 and in June,2019 I decided to go to a different processor. Your Merchant Cash Advances help commercial businesses succeed. This field is for validation purposes and should be left unchanged. They said they would beat my current rate but never could. She also helped us to file our annual PCI compliance saving us about $40 per month. 844-66-CFGMS (844-662-3467) As you're checking out a debt collection call, remember: don't respond to threats.

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