Steve Walsh Vocal Range, Asheville Mugshots 2021, Mansions In Chicago Airbnb, Medical Conditions That Mimic Being Drunk, Radish Rice Keto, Articles M

Credit cards are prone to chargebacks and tend to be more expensive to process on a per-transaction basis than automated clearing house (ACH)/electronic fund transfer (EFT) payments. Monthly Processing Range To better understand why we adjust BBB ratings, please see our Rating Criteria. 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. Use our visualizations to explore scam and fraud trends in your state based on reports from consumers like you. It is not intended as legal or financial advice. . Are you with The Merchant Solutions? We can also provide the tools that you need to generate financial reports for any money passing through your merchant account. The Merchant Solutions, founded in 1999, is a small merchant account provider based in Woodland Hills, California. Essentially, they steal from the customer. Zero star rating, they are big time scam They are charging me a huge fee to cancel. They are very rude and they will not correct the problem with me even though they said they would. They even familiarize you with techniques and systems that keep customers satisfied and less likely to initiate chargebacks. Recently contacted The Merchant Solutions about a fee they charged me on my merchant account. Thats why weve broken down the basic features of the best merchant accounts for collection agencies and debt collectors. 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. Seeking to take them to court for their theft. They Are Not truthful about their service. The merchant account providers POS systems and card readers as well as its excellent integration capabilities are thankfully easy to navigate with a strong reputation for standout customer service. Merchant Card Advisors specializes in providing comprehensive merchant account services for high-risk businesses, including businesses in the debt collecting sector. In the podcast below, Phillip explains how credit card processing and credit card fraud affects business owners. But unlike other financial transactions, you don't have time to spend phoning and e-mailing. She also helped us to file our annual PCI compliance saving us about $40 per month. My company is no longer doing business and I have not used the machine in 6 months. They charge you all kinds of fees which your not told about. processing as well as the collections industry, in order to support compliance and best practices adherence . This means that your business will be making a lot more profit for each transaction. This company and its employees are rude, I have been trying to cancel and they make it difficult. 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. 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. Amazing! They changed my contract, billed me a ton more without giving me an opportunity to opt out. I got the notification in the mail 2 FULL DAYS AFTER they had billed me. Credit Card Processing for Debt Collection Businesses Looking For One Of These Merchant Accounts For Collection Agencies? Do not get trap by this company. Fax: (818) 707-7070. I have been with them since 2015 and in June,2019 I decided to go to a different processor. Youll need a robust suite of hardware and services to accept payments online and over the phone, if so. Ideal for collection agencies with a history of excessive chargebacks. If you need help with rate and fee negotiations, payment integrations, cost optimization, or provider selection, schedule a consultation here. Due to the unique processes we have in place, we can offer affordable rates for our services. Find legal resources and guidance to understand your business responsibilities and comply with the law. As of right now, I have this company for falsifying documents, and felony forgery. Due to the unique processes that eMerchant Authority has in place, the risk of a chargeback is low. Tayne Law Group is a New York-based debt resolution law firm that helps small business owners resolve debts of all sizes. CFPB accused Encore Capital Group and Portfolio Recovery Associates Inc. of misleading and harassing consumers, which led . 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 WAS A TOTAL LIE. That said, Host Merchant Services exclusively interchange-plus pricing plans may be cost-prohibitive for low-ticket and very new agencies. 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. Copyright 2023 Merchant Maverick. I was never told about a restocking fee and some other charge until I got ready to cancel. Their customer service is terrible, they are never reachable. The Merchant Solutions also appears to resell the products of First Data (Fiserv). The overall household debt for an average family increased by 11% during the last 10 years. Min. Annual PCI Fee $99.00 I am looking to upgrade 4 of my restaurants systems. And it was my fault for not reading the fine print on the documents. I will make sure this is my last time using this company. . VERY RUDE AND UNPROFESSIONAL.THEY ARE TRYING TO BLIND SIDE THEIR CUSTOMERS AND ROB THEM OF THEIR MONEY. Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. Disgusted. PaymentCloud can help almost any business get approved for payment processing. I had signed up with them thinking they can offer me the lowest rates with a price beat guarantee. To know the right provider, here are factors to consider when looking for a debt collection agency for your debt collection business. Our services are secure and reliable. On the downside, Durango doesnt disclose its pricing plans to the public on its website, which can be frustrating. When you choose us, youre not just getting back your assets. If you are a small business owner avoid these crooks like the plague. The company never disclosed high fees , fees for not taking a test, and excessive closing fees. This means that our job is to reduce the risk of any transactions for the merchant bank. 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. Get clarity before you switch. 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. Has representatives that open fradulent accounts. 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. 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. Telephone: (818) 409-6000. These are charged beyond any percent fees. Home; Services Healthcare Services; Consumer Business Collections . This is why we want to help you get the right debt collection merchant account from the very start. 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. Find the resources you need to understand how consumer protection law impacts your business. These people are down right crooks! BBB received a pattern of complaints concerning collections practices. Merchants can get more competitive contract pricing by instead going with a cheap merchant account provider. Also that free terminal will cost you $350 when you try to cancel the account. I have been in contact with them for months now, and they still cannot give me a justifiable answer. they charged me $450 every month out of total 10k annual monthly. Both were resolved to the dissatisfaction of the merchant or received no final response. What Debt Collectors & Collection Agencies Need To Know About Payment Processing, 6 Tips For Getting Your Collection Agency Merchant Services Approved. Total $247.95. 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. I was very skeptical and was sure that the contract did not disclose a 3yr aggreement or termination fee. We appreciate it. Then they sent me a replacement machine that I had absolutely no use for; they actually sent me the wrong machine and billed me for it. When scammers threaten to arrest you, suspend your driver's license, or call your employer if you don't pay immediately, hang up and report the collector to the FTC at ReportFraud.ftc.gov. Whatever type of debt collection your business operates in, we are confident that we can find a high-risk merchant account for you. Look out for credit card processors who offer other merchant solutions that could be useful for your business. The company is headquartered at 22801 Ventura Boulevard Suite 300, Woodland Hills, California 91364. I work damn hard to run my business and I will be damned if they are going to steal money from me. By working with eMerchant Authority, this is a problem that can be avoided. They are crooks. You want a merchant account provider who has the experience and more so one with experience working with high-risk industries like yours. 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. We have focused on merchant cash advances over two decades. Ready to integrate payment processing solutions into your new business? 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. I have tried to use card reader several times without success. Call 1-888-288-2692. The second your merchant account closes down is the second that you are no longer able to accept payments for your company. Specialized account support for multiple collection agency types. 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. They actually added 19 pages to our contract virtually and said we signed them 1 1/2 years after signing the original. So only use this business if you like being lied to and stole from cause thats what their good at. I would recommend not to do business with this company. The companys rating is also impacted by its higher-than-average complaint total with the BBB. Soar offers an automated application process online that takes minutes to complete and provides merchants with a quote after the fact. These processors offer Quickbooks integration and have low rates. Ex. Credit cards are, relative to ACH/EFT payments, more prone to chargebacks. 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. With out so much as a single warning they withdrew ridiculously large amounts money from my amount, and were angered when I asked why. The sole purpose of the material presented herein is to alert, educate, and inform readers. 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. Spot the latest COVID scams, get compliance guidance, and stay up to date on FTC actions during the pandemic. You almost certainly will not be able to work with companies like PayPal. These people are the biggest crooks Ive ever encountered. This company needs to be put out of business. Wehave not found any outstanding class-action lawsuits or FTC complaints filed against The Merchant Solutions. 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 ?????? This means that we can offer rates that are a little bit cheaper than most other high-risk merchant account providers. 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. Keep your money you work for and dont use them. Understand how the CFPB's Debt Collection Rule can help you. 651-398-1636. To support this enormous responsibility we earn some of our revenue through affiliate fees and advertising. These people called me for weeks and sent me all kinds of sales materials when my business started. It was revoked by State of TN. Which Collection Agency Merchant Account Is Right For My Business? 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. Suite 209 MCA is a premier full-service debt collection agency, providing successful debt management solutions with integrity since 1937. As you're checking out a debt collection call, remember: don't respond to threats. However, these channels appear to fall short of the support levels offered by top-rated payment processors for customer service. There are a bit more than 9.000 businesses in the industry that employ over 150.000 people. Avoid this outfit as they will make your life miserable. Customer service is a joke and they just gave me a run around, once even saying they would transfer the info to the analytical Dept while the rep was laughing. dont believe what they tell you Upon cancellation after over 4 years I returned the machine in good order.