Going to BBB and will get attorney if I have to. Were never worried about our overdue receivables. said no business ever. Opinions expressed here are authors alone. To my surprise after trying them out I was told that I had signed a 3 yr contract with a $350 termination fee. However, you need to hire a merchant debt collector account provider who offers merchant collection solutions that meet your companys needs. Learn more about your rights as a consumer and how to spot and avoid scams. 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. 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. The Merchant Solutions fees and terms are average for the industry, so we have given TMS a C in this section. eMerchant Authority can help with this. Exclusive Promo: PaymentCloud will give you $200 if they can't beat your current rate. 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. As you're checking out a debt collection call, remember: don't respond to threats. Merchant Solutions is a very dishonest processor. This is why we want to help you get the right debt collection merchant account from the very start. Annual Fee $79.00 . EMB serves both traditional and high risk businesses, and has already helped thousands of hard-to-approve merchants to get the best for their business. If you stop using it, they still charge you a lot of fees. Learn more about the new debt collection rule. If that happens, then it will be the merchant account provider on the line. The Merchant Solutions rates as an average merchant services provider across the board according to our rating system. They will give you false information over the phone and then tell you their salesperson had no authorization to give it. These people called me for weeks and sent me all kinds of sales materials when my business started. They have terrible reviews on google and many many complains on BBB. You may be surprised to know that this is one of the top reasons why smaller companies end up having to shutter their doors. They said they are the cheapest one but they are not. We can help your collection agency even if you've you been turned down by service providers in the past. Cancellation take place 30 days after the day is cancel and tones of ridiculous fee charged during those 30 days. What Debt Collectors & Collection Agencies Need To Know About Payment Processing, 6 Tips For Getting Your Collection Agency Merchant Services Approved. These are all fees that were started 8 months into my contract. 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. Lending and Debt Repayment Merchant Accounts. This company should not be allowed to do business. 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! It is worth noting that being a high-risk company does not mean that your application for a merchant account will always be rejected. Very rude on phone, does not care about you as a customer. And because I signed the document, the company is telling me, that I am liable for the contract. Higher cost than explained in solicitations On November 30, 2021, the Debt Collection Rule became effective. We also encourage merchants to check out our list of the providers of the best merchant accounts. Ready to integrate payment processing solutions into your new business? They are very rude and they will not correct the problem with me even though they said they would. Early penalty for cancellation. They round up everything, even when they shouldnt according to elementary mathematics! PaymentCloud provides users with advice on choosing a chargeback management service and fraud mitigation service. Click here to earn a reward. Many may find PaymentClouds organization of products on its website to be less than navigable. Fraud protection should be high on the list of priorities for a debt collector of any size and type, and Durango is well-placed to handle instances of fraud that are common to the collections industry. This means that you could, effectively, lose your ability to run your business. This means that you will be out of business. Although their websites navigability can be clunky, PaymentClouds history of few public complaints and excellent track record for customer support suggest that overall, it is a helpful and easy-to-work-with payment processor. They use the guise that they are affiliated with Wells Fargo, but a call to Wells revealed that they never heard of TMS because Wells owns their own merchant company. Disclaimer: Merchant Maverick aims to provide accurate and up-to-date information to assist you in your research. Payment gateways offer an additional level of protection compared to virtual terminals by encrypting payment information before transmitting it to an acquiring bank. 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. They Are Not truthful about their service. Its important to be able to connect with a real person on the phone. 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.. Toll free: (888) 544-9711. Do not believe anything they say about their service. 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 homepage previously advertised a $1,000 Savings Guarantee, stating If we cant save you money on processing, well give you $1,000! 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. 180 Maiden Lane, 15th Floor. While the process for applying for a merchant account with us is not instant, we have been doing this a long time. We are not being charged an ADDITIONAL $159.90 (received bill in the mail) with no explanation of what the fee (s) is for. This means that you will be out of business. 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. See Who The Worst Processors Are. We spoke with ANAIS today and were helped with understanding the rates. Better look for alternatives. They may require countless numbers of documents. if anyone do business with this scums be prepared to have a high blood pressure. Phillip created this website and has written over 1,000 articles regarding all things payments. I had to close the account, due to poor sales results. These gateways may also support online portals through which users must enter before they can submit their payments online. They constantly slip in unauthorized charges. 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. They may even have maximum limits to any transactions that you complete. Durango combats consumer-related fraud with anti-fraud protections such as Verified by Visa, Mastercard SecureCode, Fraud Scrubbing, and EMV 3d Secure 2.0. I have been getting charged for a second account since April of 2012 that I did not authorize and for which they are telling me I did. 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. This is Uncle Fried Chicken LLC, and The Merchant Solutions are scammers and dont follow their own contract rules. 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. Many other high-risk merchants are notorious for offering card readers and monthly gateway fees, but Durango helps new collection agencies set themselves up for affordable success by making its hardware directly for sale online. 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. This lack of transparency in pricing is typical of the industry in general. Run, dont Walk, from the Hustler Con Artists at The Merchant Solutions. Weve resolved overdue accounts for clients without damaging customer relationships. Licensed Debt Collectors As applicants are approved consumers can look up and verify our licensed servicers' telephone number, email address, and website information through the Nationwide Multistate Licensing System (NMLS) Consumer Access ( www.nmlsconsumeraccess.org ). Also when you call they have no customer service and are rude on the phone. 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. MCA is a premier full-service debt collection agency, providing successful debt management solutions with integrity since 1937. Check out our complete list of High-Risk Merchant Account Reviews for more traits that other top-performing high-risk specialists have in common. In addition to its support for merchants who may be on the TMF or MATCH List, Durango also works to prevent chargebacks in the future with multiple reputable anti-fraud services. My company is no longer doing business and I have not used the machine in 6 months. MerchantBroker is a registered ISO/MSP of BMO Harris Bank, NA, Schaumburg, Illinois. So, its no surprise that banks often deny them merchant accounts. The collector has to tell you four pieces of information. After youve signed up, you than learn there are more charges and feel which they will auto-deduct from your merchant account without notification. Phone number: (302) 241-0686. 1008 Mattlind Way. Instabill offers credit card terminals albeit with little information concerning specific terminal models or features on its website. 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. This form is for feedback only. this will happen if you change to another company. These people are down right crooks! Whatever type of debt collection your business operates in, we are confident that we can find a high-risk merchant account for you. Specifically, consumer complaint activity alleges this business claims to be a law firm attempting to collect on debts that. 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. Youll get your merchant account for your collection agency in as little as 24 48 hours. Payment gateways transmit data between an agencys point of transaction and the receiving payment processor. Lets start with the salesman Daniel A. 53 of these reviews are positive, while the remaining 5 reviews are negative. These processors offer Quickbooks integration and have low rates. Help us to improve by providing some feedback on your experience today. They refuse to close the account saying they will charge me $495.00 early termination feefor an account that has been opened with a copy of the contract from my real account. Note: We have adjusted this companys BBB rating according to our own standards. I have been with them since 2015 and in June,2019 I decided to go to a different processor. Easier borrower qualifications that help you build business credit. Neither of these 2 complaints was resolved by the company to the satisfaction of the merchant. eMerchant Authority specializes in merchant accounts for high-risk businesses; this includes debt collection agencies. If you are in the debt collection business, then you may find it very difficult to obtain a merchant account. However, pricing is not disclosed on either of those services. 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. That said, rather than try to sign you up for an overpriced equipment lease, Durango offers terminals, PIN pads, and mobile card swipers for direct sale on its website, and its payments gateway is a proprietary product. $695 for early termination,$1500 programming fee, I have never hear of any company charging a programming fee. 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. 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. A full point-of-sale (POS) system in one sleek package. Also that free terminal will cost you $350 when you try to cancel the account. Zero star rating, they are big time scam So then I cancelled and they charged me a $945 restocking reprogramming fee? All feedback, positive or negative, helps us to improve the way we help small businesses. Anybody have any suggestions for getting out of this company? 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. Ex. They never have any answers and are only looking for ways to disconnect you. Payment Processing . These companies and people are banned, by federal court orders, from participating in the business of debt collection. 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. To the companys credit, the website for TMS does not appear to engage in any deceptive marketing tactics. 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. 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.. 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. 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. Host Merchant Services caters well to collection agencies with various business models due to its specialized accounts with customized pricing for large- and small-ticket agencies as well as nonprofits. Opens accounts with terms not agreed to. The Merchant Solutions is a fraud, it is an unprofessional, unethical company simple looking to scam anyone who falls for their lies. We enforce federal competition and consumer protection laws that prevent anticompetitive, deceptive, and unfair business practices. Find legal resources and guidance to understand your business responsibilities and comply with the law. These people are the biggest crooks Ive ever encountered. Pure scam artists just looking to steal your hard earned money. Respectable processors like EMB guarantee a fast, secure application process. There are a bit more than 9.000 businesses in the industry that employ over 150.000 people. Every review above has happened to me too exactly like the above. I will continue fighting for their dishonest practice.Do not fall for Merchant Solutions,they are a ripoff company and have a false advertisement for the free machine which on Amazon sells for $250.00.and they charge $1000.00!! Location & Ownership 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. TMS is a registered independent sales organization and member services provider (ISO/MSP) of Wells Fargo Bank, N.A., of Concord, California. CFPB accused Encore Capital Group and Portfolio Recovery Associates Inc. of misleading and harassing consumers, which led . 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. The majority of Americans use loans, credit cards, lines of credit to pay for their lifestyles. He was patient and knowledgeable and I am more than pleased with the assistance I receive from the Merchant Solutions. New York, NY 10038. The rating of this company or service is based on the authors expert opinion and analysis of the product, and assessed and seconded by another subject matter expert on staff before publication. Dont believe anything their salesman tells you on the phone as they will lie to you endlessly and then screw you later. Working with a debt settlement company may lead to a creditor filing a debt collection lawsuit against you. They get you sign up with them for a minimum fees and after few months they hit you with 7% fees. Disgusted. I set up a payment arrangement . You will be far too high of a risk to work with. 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. 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. 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. 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. BE AWARE!!! There is evidence that The Merchant Solutions utilizes independent sales agents in addition to online advertising to market its services. They are charging me a huge fee to cancel. He is very knowledgeable and provided excellent support. eMerchant Authority prides itself in being a leader when it comes to the provision of merchant account solutions. they charged me $450 every month out of total 10k annual monthly. 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. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations. Agree with our rating?Tell us about your experience with The Merchant Solutions in the comment section below. The worst company to do business with ever!!!! Address: Recovery Solutions Group. 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. They are beyond shady and dont care at all about customer service!!! 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. Dont give them, or their mother company, First Data, your business!!! 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. So not only was I billed WITHOUT my consent, but then they refused to refund more than half. Common themes include undisclosed fees, difficulty reaching a representative, problems with leased equipment, and termination or restocking fees in excess of $900. The second your merchant account closes down is the second that you are no longer able to accept payments for your company. Monthly Fee $25.00 These are charged beyond any percent fees. This includes debt collection companies and debt buyers. PayKings comes with exclusively tiered pricing plans and only applies lower processing rates to certain qualifying transactions. Most merchant providers are reluctant to offer. 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. Save money with Merchant Solutions low processing rates and free terminal program. 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. Home (425) 643-2613 (800) 755-1107. We provide merchant account services for both low and high-risk businesses. She said that I would need to submit an application in order to verify the discounts they were offering. 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.