merchant solutions group debt collection
If they cannot claim the money back from the seller, then the merchant account provider will have to pay these fees. These people are the biggest crooks Ive ever encountered. Signature not by me, computer generated. Before sharing sensitive information, make sure youre on a federal government site. 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. All Rights Reserved. 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. All feedback, positive or negative, helps us to improve the way we help small businesses. The Best Merchant Accounts For Collection Agencies & Debt Collectors. We work to advance government policies that protect consumers and promote competition. I will report this matter to BBB about their sales / marketing strategy for omitting such cancellation fee info. Home (425) 643-2613 (800) 755-1107. 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. Whether you are looking for a Full Services Provider, Second Look Vendor, or collection consultant, Sequoia's services are tailored to meet your needs. This means that you cannot work with companies like PayPal or Square. On November 30, 2021, the Debt Collection Rule became effective. 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. Get Your Quote. They terminated my account for non use since I was using another company and had not transferred over yet. 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. Click here to earn a reward. Fax: (818) 707-7070. Amazing! Our mission is protecting consumers and competition by preventing anticompetitive, deceptive, and unfair business practices through law enforcement, advocacy, and education without unduly burdening legitimate business activity. Its website can be hard to use as well. If you would like to interview Phillip for your story or podcast, please reach out here. The Merchant Solutions provides credit card, debit card, EBT, gift card, ATM, and check acceptance. Its important to be able to connect with a real person on the phone. 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. 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. This does not compare favorably to our list of best credit card processors. They said they would beat my current rate but never could. 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. Which Collection Agency Merchant Account Is Right For My Business? If anyone has a better option please let me know. Telephone: (818) 409-6000. The Merchant Solutions then hit me with a new $99 a year for a so-called PCI Compliance Program charge, a $35. Collection agencies need a stable merchant account to let their customers pay off past-due debts with a credit card or e-check. Noah is a writer and content creator currently living in Fairfax, VA. I attempted to cancel my contract and they are trying to hit me with over $1000 in last min charges. 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. I had to close the account, due to poor sales results. Best Collection Agency Merchant Accounts For 2023 - Merchant Maverick Get Started With Durango Merchant Services. $1350 fee if terminal is not returned within 10 days. They are awful and very dishonest do not use them. They are thieves because they stole money from my account and wont make it right with me. 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. 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. This is an attempt to collect a debt and any . 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. In the United States, all debt collection companies will need to conform to the Fair Debt Collection Practices Act (FDCPA). Login - vt.merchante-solutions.com this will happen if you change to another company. If you can get one who has worked with businesses in the debt collection industry, the better. Annual Fee $79.00 Excessive chargebacks are relatively common to the collections industry, so merchant account providers that service high-risk businesses like collection agencies should offer features such as payment gateways with fraud detection tools that minimize the long-term damage done by fraudulent chargebacks. Phantom debt collectors impersonate law firms | Consumer Advice 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. No mention of 3 year contract and no proof of it. You may be surprised to know that this is one of the top reasons why smaller companies end up having to shutter their doors. Do you feel like its the right time to start a collection agency? This means that you will be out of business. This company, Merchant Solutions, is a fraud. They may require you to constantly have reserve cash in your account. 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. So then I cancelled and they charged me a $945 restocking reprogramming fee? Their customer service is simple horrible. As a debt collection agency is a high risk merchant due to the increased chances of fraud or chargebacks, Merchant Processing Advisors can find merchant . It is not intended as legal or financial advice. They have terrible reviews on google and many many complains on BBB. This lack of transparency in pricing is typical of the industry in general. Your Merchant Cash Advances help commercial businesses succeed. The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely. If you stop using it, they still charge you a lot of fees. Most merchant providers are reluctant to offer. Pure scam artists just looking to steal your hard earned money. All they want is your money. It is worth noting that being a high-risk company does not mean that your application for a merchant account will always be rejected. Numerous calls went straight to voicemail without any return calls. 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. I have proof of all deductions after I cancelled. Our services are secure and reliable. Ray Siddiqui of TMS told me if I return the keypad, he would refund the $500 and 2 months of fees at $35/month. In some cases, this leads to merchants contracting with debt collection agencies. Do not believe anything they say about their service. Were dedicated to B2B debt recovery. The sales rep is manipulative and they never disclosed a 400$ cancellation fee or an annual fee. The debt collector refers to themselves as an investigator, or that they will contact the investigator on your case. We also encourage merchants to check out our list of the providers of the best merchant accounts. Swipe credit cards securely by implementing PCI compliant payment solutions. We're Proud to Advance Cash to Business Owners Like You. the name of the creditor you owe it to. Then I began getting charged a PCI non compliant fee $40.00. 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 even familiarize you with techniques and systems that keep customers satisfied and less likely to initiate chargebacks. Do not give them your business. Read more below to learn why we chose these options. eMerchantBroker is a registered ISO/MSP of BMO Harris Bank, NA, Schaumburg, Illinois. A collector has to give you "validation information" about the debt, either during the collector's first phone call with you or in writing within five days after first contacting you. Easier borrower qualifications that help you build business credit. 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 has Been the worst POS processing company I have ever felt with. Stay away from Themechantsolution!!! You want a merchant account provider who has the experience and more so one with experience working with high-risk industries like yours. Any unauthorized copying and reproduction of the content of this page, including all meta data and computer code, is strictly prohibited. They Are Not truthful about their service. The following is a sample list of complaints filed against United Merchant . BE AWARE!!! Today they transferred $70 out of the bank account which now has been shut down over theyre crazy charges. They are very rude and they will not correct the problem with me even though they said they would. Understand how the CFPB's Debt Collection Rule can help you. As of right now, I have this company for falsifying documents, and felony forgery. 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. I was skeptical and decided not to switch to merchant solutions. 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. Several complainants outright accuse the company of being a ripoff or a scam operation. Debt Collection FAQs | Consumer Advice Debt Collection Agency Merchant Account - PayKings Needless to say, I immediately sent the keypad and tracking revealed they received it in 3 days. 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. Some processors have no monthly, no annual fees, no contract, and cheap rates. 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. I have never had any other merchant?! She also helped us to file our annual PCI compliance saving us about $40 per month. I will make sure this is my last time using this company. 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. the 24/7 support is fake, they never support you on weekends or after hours, NEVER finally i got my business closed and I was lucky someone bought my POS, because otherwise i had to pay 950 USD to them for cancelation, the funny thing is when i transferred the pos system to the other company name (the company that bought it) nobody told me that i should request a cancelation form to cancel my account, SO i ended paying 67 USD a month after the system was transferred and being used by their new client Finally i sent the cancellation form beginning of the month, 20 days later i called them and they said yes we received it, but you will be charged for the next month (67 USD) because that is our policy PLEASE NO ONE CHOOSE THIS COMPANY, THEY ARE REALLY BAD, THEY WILL STEAL YOUR MONEY AND YOU WILL KEEP PAYING THEM EVEN AFTER YOU END YOUR CONTRACT WITH THEM. Soar Payments is a great choice for high-risk debt collectors that are looking for a quick-yet-thorough underwriting process as well as customized quotes after their application phase. Whether youre a startup or an established business, you can count on us to provide you with a perfect merchant service solution with the latest hardware and software tools such as Clover systems that are perfect for your retail payment needs. when you cancel.Please take your business elsewhere. A collection agency merchant account is classified as high risk for a number of reasons. The Merchant Solutions processes most major payment types. Durango combats consumer-related fraud with anti-fraud protections such as Verified by Visa, Mastercard SecureCode, Fraud Scrubbing, and EMV 3d Secure 2.0. Their charges are exhorbitant. Ideal for collection agencies with a history of excessive chargebacks. Verify before you sign with this company. Since 2017, Noah has worked for federal, state, and commercial clients as a proposal writer, technical writer, copywriter, and analyst. The .gov means its official. 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. DONT BELIEVE IN ANYTHING THEY SAY ALL LIES AND FRAUD!!! Working with a debt settlement company may lead to a creditor filing a debt collection lawsuit against you. In addition his contributions here, Phillip has also been quoted in several major publications such as The Los Angeles Times, INC Magazine, Miami Herald, Computer World, and numerous others. Home; Services Healthcare Services; Consumer Business Collections . 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. 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? 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. Merchants Solution Group | Better Business Bureau Profile 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. is the best thing you can do to improve your business cash flow and offer more payment options to your customers. CFG Merchant Solutions, LLC. If so, you may be a victim of United Merchant Asset Recovery debt collection harassment. 100$ fee come out of no where every month, and when i called them they said that 100$ fee only apprea once a year. They will not return my phone calls now. He has also researched and published reviews about nearly every payment services provider and processor. 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. Besides, we understand just how financially difficult it is to become a business owner. All debt collectors track down past-due debts that businesses and consumers owe. PaymentCloud helps merchants navigate the necessary steps to become PCI-compliant within 90 days and without charging a PCI compliance fee. 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. 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. 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. 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. Abdulali Mithani is the CEO and chairman of The Merchant Solutions, though LinkedIn also lists a Zahra Mithani as CEO and a Taufia Mithani as CEO and chairman. 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. Ensure you understand the contract terms and all the costs involved with the credit card payments before you sign the contract. Many may find PaymentClouds organization of products on its website to be less than navigable. 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. The company has a higher-than-expected number of complaints for its apparently small size, and the contract terms that we have seen reported for this company arent especially competitive, especially when compared to the best overall credit card processors. Over the years, we have built up connections with banks all over the world. This means that you can always stay on top of any transactions that you are making. 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. 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. Find legal resources and guidance to understand your business responsibilities and comply with the law. They have been lying to me since day 1 of signing up with them. Your email address will not be published. Merchants can get more competitive contract pricing by instead going with a cheap merchant account provider. 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. I have filed a complaint with the bbb and am probably going to get a attorney to get my money back. This means that you will need both a payment processor and a merchant account. one year. Youll get your merchant account for your collection agency in as little as 24 48 hours. Try PaymentCloud. 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. Same situation. Independent sales agents are often paid by commission and are therefore motivated to sign merchants to the most expensive contract terms they can. 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 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. TMS offers a dedicated support phone line and an email form on its website. The merchant solutions is the most horrible company I have ever dealt with. The site is secure. The companys rating is also impacted by its higher-than-average complaint total with the BBB. Remember; if you do not take the time to find a merchant account designed for high-risk businesses like yours, your company could lose its ability to process transactions overnight. 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. 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. We spoke with ANAIS today and were helped with understanding the rates. 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. 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. 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 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. Due to the high-risk nature of your business, most merchant account providers will ask you to jump through hoops if you want to work with them. By keeping the risk of chargebacks and fraud to the absolute minimum, your business can benefit. Suite 209 Instead, Go with Square, go with Chase, go with Costco Elavon, go with Paypal, or any of a dozen other reputable credit card processing companies but please, dont make the same mistake i did Avoid The Merchant Solutions at all costs. please dont sign up and let people know about that. 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.. 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!