";s:4:"text";s:17827:"Its important to be able to connect with a real person on the phone. Problems logging in? Phillip Parker is an independent digital payment consultant specializing U.S. and Canadian point-of-sale, ecommerce, and mobile payment acceptance. Use our visualizations to explore scam and fraud trends in your state based on reports from consumers like you. However, pricing is not disclosed on either of those services. The salesperson on the phone neglect to inform me of a cancellation service fee of $900.49 I DO RECOMMEND THAT YOU DO NOT ATTEMPT TO USE THEIR SERVICES!! And because I signed the document, the company is telling me, that I am liable for the contract. My company is no longer doing business and I have not used the machine in 6 months. Copyright 2023 eMerchantBroker, LLC. Payment Processing . Looking For One Of These Merchant Accounts For Collection Agencies? Understand how the CFPB's Debt Collection Rule can help you. Why would we want a service we couldnt use? Our integrations connect you with the best tools for your business. If your company does not show any indication that you conform to this act, then your application will be outright rejected. Pam called me offering a competitive rate for credit card processing. I have proof of all deductions after I cancelled. He has nearly two decades of experience in card payment services, both as a former merchant services sales representative and as a professional journalist covering the payments industry. $35.00 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. 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. 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. 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. VERY RUDE AND UNPROFESSIONAL.THEY ARE TRYING TO BLIND SIDE THEIR CUSTOMERS AND ROB THEM OF THEIR MONEY. This Post Might Help: Cancelling a Merchant Account Contract Without Paying a Fee. 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. Screw this place I wish their was a way we could put them out of business. We have focused on merchant cash advances over two decades. The merchant solutions is the most horrible company I have ever dealt with. I left MerchantSolutions a number of months ago, even though it cost me remaining monthly fees until my contract expires. This credit card processing company is HORRIBLE! 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. Numerous calls went straight to voicemail without any return calls. The Signature page of the second contract is an EXACT COPY of the account I did open. Such a vendor can be a great help for your debt collector business. The path toward getting your collection agency off the ground is rife with hurdles that take the form of legal obligations, a complicated and sometimes bleak industry reputation, and the constant risk of interruption to your businesss revenue. TMS offers a dedicated support phone line and an email form on its website. 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. Therefore, if you plan on accepting ACH payments online, youll likely need a payment gateway. 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. Dont believe anything their salesman tells you on the phone as they will lie to you endlessly and then screw you later. A powerful, two-screen point of sale (POS) system that allows merchants to run their business . Youll first need to navigate the logistics of processing different customer payment types with different pieces of hardware. 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. They are crooks. 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. These are charged beyond any percent fees. 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. 180 Maiden Lane, 15th Floor. However, these channels appear to fall short of the support levels offered by top-rated payment processors for customer service. These people are down right crooks! They will give you false information over the phone and then tell you their salesperson had no authorization to give it. To know the right provider, here are factors to consider when looking for a debt collection agency for your debt collection business. Forgotten Password? The risks related to your business will be assessed by underwriters. They get you sign up with them for a minimum fees and after few months they hit you with 7% fees. 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. I had to close the account, due to poor sales results. one year. Numerous times I informed her that we already had an account with a different company, and we were not ready to transition but would be happy to look at the numbers. Dont take their Free credit card machine or any of their so-called free equipment as they will charge you a $350 Restocking Fee when you try to close your account after you find out they are overcharging and ripping you off on credit card processing fees. No mention of 3 year contract and no proof of it. On November 30, 2021, the Debt Collection Rule became effective. Our 24/7 customer support team is always on call to answer your questions and attend to your needs. 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. But the majority of merchant-acquiring banks reject applications from debt collectors because of the collections industrys complicated reputation. They may require countless numbers of documents. 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. Monthly Processing RangeUnder $1,000$1,000 - $5,000$5,000 - $25,000$25,000 - $50,000$50,000 - $100,000Over $100,000. Bitty advance immediately escalated my debts to Recovery Solutions Group and they have been harassing me ever since. Some collectors harass and threaten consumers, demand larger payments than the law allows, refuse to verify disputed debts, and disclose debts to consumers' employers, co-workers, family members, and friends. I agreed to pay back the money that was owned. Some of these limitations can be pretty tough on a business, particularly in their early days. 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). This is why when you partner with us you also enjoy transparent pricing with no long-term contracts or hidden fees. 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. $1350 fee if terminal is not returned within 10 days. The following is a sample list of complaints filed against United Merchant . But unlike other financial transactions, you don't have time to spend phoning and e-mailing. Merchants are advised to thoroughly review their merchant agreements with The Merchant Solutions and to renegotiate their contracts if hidden fees are suspected. If you do business with a debt settlement company, the company may tell you to put money in a dedicated bank account, which will be managed by a third party. 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 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. Here are other additional benefits that you receive when you apply for an internet merchant account with eMerchant Authority. Requirements: 600+ credit score, 12+ months in business and $100,000+ revenue. Click here to earn a reward. It isnt just the finances of your business that they pay attention to either. Find the resources you need to understand how consumer protection law impacts your business. Maintaining these ratios is challenging for merchants in many industries. Do not give them your business. So only use this business if you like being lied to and stole from cause thats what their good at. You may be surprised to know that this is one of the top reasons why smaller companies end up having to shutter their doors. The sole purpose of the material presented herein is to alert, educate, and inform readers. We provide merchant account services for both low and high-risk businesses. They charged me $300 for what they called setup charges. If you have your own The Merchant Solutions review to make, please do so in the comments below. That means we spend every day sharpening our tools and providing the know-how to efficiently resolve delinquencies and liquidate accounts. 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. 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. Tayne Law Group is a New York-based debt resolution law firm that helps small business owners resolve debts of all sizes. Credit cards are, relative to ACH/EFT payments, more prone to chargebacks. We have located one complaint online claiming that TMS is a reseller of Global Payments contracts, but we were unable to verify this claim as of this update. 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. The competition is real with so many POS servicing company. The sales rep never returned my calls and is no longer with thw company. Don't Fall Into An Expensive Trap. services due to the high risk associated with debt collection businesses. 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. You can get your approval in as little as 24 hours. This means that you will be out of business. 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. Our experienced attorneys can help you come up with a strategy to deal with your debt while keeping your business running. MCA is a premier full-service debt collection agency, providing successful debt management solutions with integrity since 1937. They dont deserve a BBB rating they suck!!!! The Merchant Solutions provides credit card, debit card, EBT, gift card, ATM, and check acceptance. Some processors have no monthly, no annual fees, no contract, and cheap rates. This complaint total is somewhat high for a company as small as TMS, and it therefore merits a D grade in our opinion. 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! When banks determine a businesss risk status, they consider that businesss complete history of chargebacks. We're Proud to Advance Cash to Business Owners Like You. To the companys credit, the website for TMS does not appear to engage in any deceptive marketing tactics. Were dedicated to B2B debt recovery. By keeping the risk of chargebacks and fraud to the absolute minimum, your business can benefit. Going to BBB and will get attorney if I have to. Whether you are looking for a Full Services Provider, Second Look Vendor, or collection consultant, Sequoia's services are tailored to meet your needs. Read more below to learn why we chose these options. We have located multiple The Merchant Solutions customer service numbers: (888) 707-2836 Toll-Free Customer Support/Sales This does not compare favorably to our list of best credit card processors. Horrible company. This is an attempt to collect a debt and any . If you hear from them just Run!!! 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). These revenues in no way influence our ratings or reviews. Get clarity before you switch. Any unauthorized copying and reproduction of the content of this page, including all meta data and computer code, is strictly prohibited. To my surprise after trying them out I was told that I had signed a 3 yr contract with a $350 termination fee. YOU WILL BE SORRY! On the downside, Durango doesnt disclose its pricing plans to the public on its website, which can be frustrating. Its like they try to rip you off once last time b4 they let you go. They will not return my phone calls now. 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. 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. Get Started With Durango Merchant Services. Find Loan Options For Your Small Business. We can help you to seamlessly integrate eMerchant Authority payment solutions into your business. Upon cancellation after over 4 years I returned the machine in good order. Learn more about the new debt collection rule. If you are a small business owner avoid these crooks like the plague. You almost certainly will not be able to work with companies like PayPal. The site is secure. I have no other choice than to seek legal action against Merchant Solutions and/or the agent that opened up a second account with forged/copied paperwork. Im so glad I read these before making a huge mistake. They would take their sweet time to deposit my earnings but would immediately make unauthorized withdraws, even after my account had been closed. If you are looking for a merchant account for your debt collection company, or you have any questions about the services that we provide, then please reach out to us today. Our proven Merchant Cash Advance (MCA) default recovery solutions are proven to turn your delinquent accounts back into cash. They are charging me a huge fee to cancel. No doubt necessary to achieve any success, as the sales person was barely literate. Home; Services Healthcare Services; Consumer Business Collections . There is PayPal and Square, why would me, a small tiny business ever agree to such a thing I wouldnt. Nasty contract . Other companies may just outright decline your application. While the information in the above article is believed to be accurate as of its publish date, the author and publisher make no representation or warranties with respect to the accuracy, applicability, fitness, or completeness of the contents. Their disclosure pricing on cancellation of service was not mentioned to me when I was docusigning the paperwork via Internet. The Merchant Solutions rates as an average merchant services provider across the board according to our rating system. eMerchant Authority is a registered ISO of Woodforest National Bank, Houston, TX Member FDIC. Austin Smith was very knowledgeable and helpful! Example: If you have a sale that is then multiplied by the discount rate, and it comes out to 1.62222, you will pay them 1.63. ";s:7:"keyword";s:40:"merchant solutions group debt collection";s:5:"links";s:553:"Are Blonde Hair And Blue Eyes Superior,
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