By working with eMerchant Authority, this is a problem that can be avoided. They are charging me a huge fee to cancel. 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. These revenues in no way influence our ratings or reviews. Customer service is horrible. Monthly Processing Range At Monetaria, we understand that your MCA agreements are time-sensitive. Whether you're looking to save money on processing or to get approved for a merchant account, PaymentCloud can help. Businesses need cash: Restaurants, Bars & Hotels Automotive Salons & Day Spas Doctors, Dentists & Vets Franchises & more This post will help: Cancelling a Merchant Account Without Paying a Fee. 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. What Consumers Should Do When Fake Debt Collection Scammers Call. Strongly suggest that anyone does there homework and compare companies for this service. Both were resolved to the dissatisfaction of the merchant or received no final response. I used Merchant Solutions for approx. Federal government websites often end in .gov or .mil. The Merchant Solutions, founded in 1999, is a small merchant account provider based in Woodland Hills, California. How to tell the difference between a legitimate debt collector and Do not give them your business. She also helped us to file our annual PCI compliance saving us about $40 per month. Its a TOTAL SCAM! 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. Since 2017, Noah has worked for federal, state, and commercial clients as a proposal writer, technical writer, copywriter, and analyst. Our integrations connect you with the best tools for your business. They are beyond shady and dont care at all about customer service!!! 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. We take great pride in providing one of the only objective an unbiased merchant account review websites on the internet. EMB is voted the top high risk processor in the US and has an A+ rating with the BBB. The market research firm IBIS World reports that the debt collection industry represented a $13 billion market in the US as of May 2013. Copyright CardPaymentOptions.com, Inc. (Digital Fingerprint: 0d38c6720f0d78a701b74d58653af608). Should have know. Due to the unique processes that eMerchant Authority has in place, the risk of a chargeback is low. This post will help: How to Get Out of a Merchant Account Contract. When people stop paying, unpaid debts are sent to collection agencies These agencies go after debtors to recover the money for banks and creditors. eMerchant Authority is a registered ISO of Woodforest National Bank, Houston, TX Member FDIC. Lets start with the salesman Daniel A. 4 Best Merchant Accounts For Collection Agencies. 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.. 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. No mention of 3 year contract and no proof of it. They get you sign up with them for a minimum fees and after few months they hit you with 7% fees. Excellent provider for collection agencies with a strong eCommerce presence. For me customer support is key and Austin is definitely an asset to this company. 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. Get clarity before you switch. 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. Try PaymentCloud. 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. This is according to the 2016 American Household Credit Card Debt Study by Nerd Wallet. As of right now, I have this company for falsifying documents, and felony forgery. Every review above has happened to me too exactly like the above. 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 Services | Payment Processing Enterprise Solutions | Fiserv While the process for applying for a merchant account with us is not instant, we have been doing this a long time. Calls from United Merchant Asset Recovery? - Consumer Law Firm Center 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. 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 think the bill is not yours, you could call the Attorney General in Tennessee at 615-741-3491. 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. They actually added 19 pages to our contract virtually and said we signed them 1 1/2 years after signing the original. From The Editor Certain payment gateways services support ACH payments and may be included as part of a payment processors list of basic services. 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. This includes debt collection companies and debt buyers. They round up everything, even when they shouldnt according to elementary mathematics! 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. Save money with Merchant Solutions low processing rates and free terminal program. Would recommend , Merchan Solution they are very professional , Ive been talking to Austin back and forth seems like I know him, anyway every question I did not understand about this machine he explain it very clearly to me, He was not Just a sales person he wants my business to succeed Thank you very much .Austin Smith, Merchant solutions are very professional. $35.00 Debt Collection Agency Merchant Account - PayKings 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 . This means that we can offer rates that are a little bit cheaper than most other high-risk merchant account providers. In Summary: 4 Best Merchant Accounts For Collection Agencies. He has a BA in Creative Writing and a Minor in German from Goucher College. 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. (800) 228-0210 Technical Support, The Merchant Solutions also offers a customer service email at [emailprotected]. That doesnt count the canclelation fee that coming up from them. 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. not explained. Min. Just ridiculous! 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? Don't Fall Into An Expensive Trap. Merchant Solutions is a very dishonest processor. Check out our complete list of High-Risk Merchant Account Reviews for more traits that other top-performing high-risk specialists have in common. These gateways may also support online portals through which users must enter before they can submit their payments online. Your Merchant Cash Advances help commercial businesses succeed. VERY RUDE AND UNPROFESSIONAL.THEY ARE TRYING TO BLIND SIDE THEIR CUSTOMERS AND ROB THEM OF THEIR MONEY. Our 24/7 customer support team is always on call to answer your questions and attend to your needs. 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. 844-868-8436, 877-664-9642, 877-599-2008, 407-544-3632, 814-351-0205, 888-667-0533, 844-378-7772, 386-478-4129, 850-391-2427. Both were resolved to the dissatisfaction of the merchant or received no final response. Consider whether your agency is a relatively low- or high-volume operation, whether you function as an eCommerce or brick-and-mortar business, your chargeback history, and the pricing plans you prefer before you decide on a collection agency merchant account. 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. Sending Chargebacks to Debt Collection 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. Merchant Solutions Group - Merchant Cash Advance | Working Capital Forgotten Password? Trouble Getting Approved? 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. These merchant account providers offer high-risk businesses like collection agencies a square deal when it comes to payment processing. 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. I have proof of all deductions after I cancelled. Understand how the CFPB's Debt Collection Rule can help you. they hurt me by taking un authorized money out of my account Spot the latest COVID scams, get compliance guidance, and stay up to date on FTC actions during the pandemic. they charged me $450 every month out of total 10k annual monthly. They charged me $300 for what they called setup charges. They terminated my account for non use since I was using another company and had not transferred over yet. $695 for early termination,$1500 programming fee, I have never hear of any company charging a programming fee. high risk merchant account instant approval, high risk merchant account payment gateway, offshore high risk merchant account providers, Merchant Business Funding: Making It Easier for Merchants to Get What They Need When They Need it, Instant Credit Card Processing: What You Need to Know, International High-Risk Merchant Accounts For Global Growth, Electronic Business Merchants Face Unique Challenges, We Can Help, Payment Gateways Help Merchants Keep Sites Safe and Secure, A valid, government-issued ID, such as a state-issued drivers license, A bank letter or a pre-printed voided check, 3 months of the most recent bank statements, 3 months of the most recent processing statements, if applicable, An SSN (Social Security Number) or EIN (Employer Identification Number). Just yesterday, The Merchant Solutions sent me a new bill for $114 just for February account administration fees alone, even though I returned their machine in mid January and directed them to close my account immediately in January. 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. I think I was the set up by Merchant Solutions. Address: Recovery Solutions Group. Keep up the excellent work Austin and thank for helping us through out the entire setup process. Most merchant providers are reluctant to offer. 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 ?????? 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 WAS A TOTAL LIE. Some merchant account providers may offer high fees. We have located multiple The Merchant Solutions customer service numbers: (888) 707-2836 Toll-Free Customer Support/Sales This has Been the worst POS processing company I have ever felt with. Stephanie T. Nguyen, Chief Technology Officer, Include spaces in matter number if applicable. I agreed to pay back the money that was owned. Merchant Card Advisors specializes in providing comprehensive merchant account services for high-risk businesses, including businesses in the debt collecting sector. 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. Look out for credit card processors who offer other merchant solutions that could be useful for your business. Provider of affordable payment processing hardware that can streamline various debt collection operations. This means that your business will be making a lot more profit for each transaction. We can also provide the tools that you need to generate financial reports for any money passing through your merchant account. This Post Might Help: Best Restaurant Merchant Accounts. Use our visualizations to explore scam and fraud trends in your state based on reports from consumers like you. 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). As you're checking out a debt collection call, remember: don't respond to threats. 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. Copyright 2023 Merchant Maverick. 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. Going to BBB and will get attorney if I have to. Im so glad I read these before making a huge mistake. how much money you owe. Let us know how well the content on this page solved your problem today. Today they transferred $70 out of the bank account which now has been shut down over theyre crazy charges. All they do is to get you sign up the contract, but be sure to read the fine print on auto renew, they will auto renew you into another contract even their machine never works. The rule clarifies how debt collectors can communicate with you, including what information they're required to provide you. Sequoia is located in the Agoura Gateway at: Agoura Hills, CA 91301. PaymentCloud can help almost any business get approved for payment processing. Check out their google and Yelp and RipOffReport.com reviews for the testimony of hundreds of other customers who have been ripped off by The Merchant Solutions! Which Business Bank Account is Right For You? Collection agencies require a merchant account provider that supports over-the-phone as well as online payment processing and facilitates timely consumer payments to prevent interruptions to revenue streams. They have hired unqualified reps who dont know how to initiate talks with a new business, seems like working for paycheck only, doesnt seem they take ownership in helping future customers. When their machine failed, they blamed me even though the manufacturer of the machine explicitly explained to me that TMS was to blame for connection security error. Do not get trap by this company. My contract ends in January 2015 and I am looking forward to it. 100$ fee come out of no where every month, and when i called them they said that 100$ fee only apprea once a year. Seattle Collection Agency | Merchants Credit Association The market research firm IBIS World reports that the debt collection industry represented a $13 billion market in the US as of May 2013. 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. 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.
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