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Use our visualizations to explore scam and fraud trends in your state based on reports from consumers like you. Durango combats consumer-related fraud with anti-fraud protections such as Verified by Visa, Mastercard SecureCode, Fraud Scrubbing, and EMV 3d Secure 2.0. My contract ends in January 2015 and I am looking forward to it. I hope there will be a class action lawsuit and I plan to be a part of it. eMerchantBroker.com. They are crooks. I called to complain upper management said theres nothing they can do I sign the contract Im the one going to get screwed complete scam scam scam! They charge you all kinds of fees which your not told about. 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). If you stop using it, they still charge you a lot of fees. Your business cannot opt for a standard merchant account here. Provider of affordable payment processing hardware that can streamline various debt collection operations. 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. They said they had cancelled the account, but the following month we were charged again. close down your account. The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely. 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. She also helped us to file our annual PCI compliance saving us about $40 per month. Wehave not found any outstanding class-action lawsuits or FTC complaints filed against The Merchant Solutions. To get a reliable and low-cost collection agency merchant account, you just need to turn to emerchantbroker.com. Toll free: (888) 544-9711. Debt Collectors List | NY Debt Collections List 1008 Mattlind Way. We enforce federal competition and consumer protection laws that prevent anticompetitive, deceptive, and unfair business practices. The overall household debt for an average family increased by 11% . 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. I should have closed my bank account the minute we closed our business so I could have avoided all of this. 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. We also encourage merchants to check out our list of the providers of the best merchant accounts. I have proof of all deductions after I cancelled. After I cancelled my account with them, they debited my account $50.00 to refurbish the terminal they provided free of charge. 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. Also that free terminal will cost you $350 when you try to cancel the account. When account underwriters are deciding the fees or terms for working with them, they will need to see the finances of your business. Upon cancellation after over 4 years I returned the machine in good order. The market research firm IBIS World reports that the debt collection industry represented a $13 billion market in the US as of May 2013. I work damn hard to run my business and I will be damned if they are going to steal money from me. 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. Stephanie T. Nguyen, Chief Technology Officer, Include spaces in matter number if applicable. From The Editor 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. PaymentCloud specializes in difficult-to-place merchant accounts for credit card processing. Debt Collections Merchant Account Solutions - eMerchant Authority 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. Very rude on phone, does not care about you as a customer. PaymentCloud doesnt publically disclose its pricing on its website, which can make it more difficult for new collection agencies to accurately project their startup costs. If you need help with rate and fee negotiations, payment integrations, cost optimization, or provider selection, schedule a consultation here. I was to have 1 account with Merchant Solutions ! Noah is a writer and content creator currently living in Fairfax, VA. Merchant Cash Advance in Collections: What to Do And because I signed the document, the company is telling me, that I am liable for the contract. 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. We work to advance government policies that protect consumers and promote competition. Also when you call they have no customer service and are rude on the phone. Here are other additional benefits that you receive when you apply for an internet merchant account with eMerchant Authority. Better look for alternatives. And particularly so for debt collectors due to the consumer demographic of debtors. Debt Collection Agency Merchant Services, Collection Agency Credit Card The market research firm IBIS World reports that the debt collection industry represented a $13 billion market in the US as of May 2013. However, pricing is not disclosed on either of those services. Take a few minutes to get comfortable with the process of choosing a provider for your debt collection agency and learn how to decide on a provider with minimal frustration. Debt Collection Agency Merchant Account| Fast Approval Debt Collection Merchant Account Solutions - National Merchants Association 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? Call 1-888-288-2692. This is a business that is rife with fraud and chargebacks. This means that you will need both a payment processor and a merchant account. They charged me $300 for what they called setup charges. Wondering what else to consider as a high-risk merchant that needs a reliable merchant account provider? Sign up today and get a free card reader! They are beyond shady and dont care at all about customer service!!! Essentially, they steal from the customer. 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. So then I cancelled and they charged me a $945 restocking reprogramming fee? If you are in the debt collection business, then you may find it very difficult to obtain a merchant account. I will NEVER consider using them again. 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. 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. 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. Teaming with IVR Technology Group, we also provide pay-by-phone voice . Here Are The Processors Who Don't Hide Fees. 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. Both were resolved to the dissatisfaction of the merchant or received no final response. Youre also working with a business that knows your problem and has the fix. Opens accounts with terms not agreed to. Anybody have any suggestions for getting out of this company? Their disclosure pricing on cancellation of service was not mentioned to me when I was docusigning the paperwork via Internet. 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. A collection agency merchant account is classified as high risk for a number of reasons. I have never had any other merchant?! 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. Instead, you need to search for high-risk merchant accounts. All debt collectors track down past-due debts that businesses and consumers owe. Debt Collection Merchant Accounts Numerous calls went straight to voicemail without any return calls. VERY RUDE AND UNPROFESSIONAL.THEY ARE TRYING TO BLIND SIDE THEIR CUSTOMERS AND ROB THEM OF THEIR MONEY. Credit & Debt Collections Merchant Services - DigiPay Solutions Debt Collection FAQs | Consumer Advice One The Merchant Solutions complaint mentions that TMS relies on Authorize.Net or PC Charge Pro for its online payment gateway; if this is the case, Authorize.nets payment gateway will be chargeda per-transaction fee of 2.90% plus $0.30 and a daily batch fee of $0.10 in addition to the $25 monthly gateway fee. eMerchant Authority can help with this. 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. Try PaymentCloud. It isnt just the finances of your business that they pay attention to either. Seeking to take them to court for their theft. This is very dishonest company with deceptive business practices. eMerchantBroker.com is a Los Angeles, California-based company that offers high risk e-commerce processing solutions including debt collection merchant accounts.The company's products include ACH processing, an online payment gateway, merchant cash advance, and a chargeback management system to help merchants dispute and resolve chargeback claims. All feedback, positive or negative, helps us to improve the way we help small businesses. This means that our job is to reduce the risk of any transactions for the merchant bank. 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. You should double-check with the service provider/financial institution directly as well as obtain independent financial advice prior to making any financial commitments or business decisions. 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. service provider that has expertise in high-risk merchant A business that accepts credit cards for goods or services. There are a bit more than 9.000 businesses in the industry that employ over 150.000 people. If that happens, then it will be the merchant account provider on the line. Should have know. Disclaimer: Merchant Maverick aims to provide accurate and up-to-date information to assist you in your research. Spot the latest COVID scams, get compliance guidance, and stay up to date on FTC actions during the pandemic. Our proven Merchant Cash Advance (MCA) default recovery solutions are proven to turn your delinquent accounts back into cash. Thousand Oaks, CA 91362. See Which Processors Offer No Monthly Fees And No Contracts. The Merchant Solutions, founded in 1999, is a small merchant account provider based in Woodland Hills, California. Annual PCI Fee $99.00 They bill me $100.00 more for the first month & when I complained they told me they going to have a rate review and correct it, the second months they did the same, one week in the third months I stop using them for processing and then they threatening me with a $495.00 early termination fee that I cross in the application then I find out that Daniel A. forged my initial and change the page. 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. Login - vt.merchante-solutions.com Telephone: (818) 409-6000. Copyright CardPaymentOptions.com, Inc. (Digital Fingerprint: 0d38c6720f0d78a701b74d58653af608). We are on our 4th machines, the terminals are very light, and very cheap looking, they break all the time, but when you try to get out of the contract because of it, they will say something like, but we can trouble shoot for you. However, you need to hire a merchant debt collector account provider who offers merchant collection solutions that meet your company's needs.. To know the right provider, here are factors to consider when . They want me to pay almost $900.00 for equipment I dont use. This company hires predatory sales people, arent up front about fees and raped my bank account. I had signed up with them thinking they can offer me the lowest rates with a price beat guarantee. THIS WAS A TOTAL LIE. The creditor may also hire a debt collector or sell the debt to someone who may try to collect the debt. This complaint total is somewhat high for a company as small as TMS, and it therefore merits a D grade in our opinion. 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. I have been with them since 2015 and in June,2019 I decided to go to a different processor. Businesses need cash: Restaurants, Bars & Hotels Automotive Salons & Day Spas Doctors, Dentists & Vets Franchises & more they charged me $450 every month out of total 10k annual monthly. The Merchant Solutions is definitely THE worst credit card company EVER!!!! He was patient and knowledgeable and I am more than pleased with the assistance I receive from the Merchant Solutions. Los Angeles Debt Collection - Credit Consulting Services There is no monthly fee but there is a monthly minimum fee meaning if you dont process the requirement you are charged that fee. Ive called them over 15 times, and each time they blow me off, or offer me a partial refund if I delete the negative (yet accurate) Yelp and Rip Off Report reviews I left them. This is Uncle Fried Chicken LLC, and The Merchant Solutions are scammers and dont follow their own contract rules. There are more than 50 negative The Merchant Solutions reviews on this and other consumer protection websites, and many of these The Merchant Solutions complaints have been posted within a year of this update. 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. Copyright 2023 eMerchantBroker, LLC. A powerful, two-screen point of sale (POS) system that allows merchants to run their business . The risks related to your business will be assessed by underwriters. From The Editor Federal government websites often end in .gov or .mil. And it was my fault for not reading the fine print on the documents. The merchant solutions is the most horrible company I have ever dealt with. Their customer service is simple horrible. Run, dont Walk, from the Hustler Con Artists at The Merchant Solutions. I foolishly fell for the lies that were fed to me by one of The Merchant Solutions(TMS)sales representative. If you would like to interview Phillip for your story or podcast, please reach out here. eMerchantBroker is a registered ISO/MSP of BMO Harris Bank, NA, Schaumburg, Illinois. The site is secure. Debt Collection Industry and Merchant Accounts But some payment processors may provide only limited support for brick-and-mortar payment processing or may only provide specific processing hardware on a lease. Needless to say, I immediately sent the keypad and tracking revealed they received it in 3 days. Horrible company. The companys rating is also impacted by its higher-than-average complaint total with the BBB. He is very knowledgeable and provided excellent support. Pam called me offering a competitive rate for credit card processing. The mobile POS solutions that Instabill offers can be relatively time-consuming to begin using as well since Instabill requires its users to create a separate account with its mobile processing partner, CardFlight, before they can accept mobile payments from multiple devices. Best Collection Agency Merchant Accounts For 2023 - Merchant Maverick You almost certainly will not be able to work with companies like PayPal. That means we spend every day sharpening our tools and providing the know-how to efficiently resolve delinquencies and liquidate accounts. These businesses are associated with a higher rate of risks related to payment processing and a large volume of chargebacks. A collection agency merchant account is essential to process payments in this unique industry. 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. Save money with Merchant Solutions low processing rates and free terminal program. 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. Processing statements are intentionally complicated so that they can overcharge you. They constantly slip in unauthorized charges. Merchants can get more competitive contract pricing by instead going with a cheap merchant account provider. SAVE YOURSELF THE HEADACHE! My company is a small business that processes $200000.00 a year with this processor,,I have the right to question a fee But KURT didnt think so.I have contacted MS on other occasions and received less than favorable customer 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. PaymentCloud provides users with advice on choosing a chargeback management service and fraud mitigation service. They are very rude and they will not correct the problem with me even though they said they would. Besides, we understand just how financially difficult it is to become a business owner. 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. Our 24/7 customer support team is always on call to answer your questions and attend to your needs. Shortly after receiving the product we received an email notifying of the $2.50 monthly fee AND .5 per transaction fee on top of the 2.65%. Any unauthorized copying and reproduction of the content of this page, including all meta data and computer code, is strictly prohibited. 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. Comp Admin Fee $9.95 The Merchant Solutions rates as an average merchant services provider across the board according to our rating system. Going to BBB and will get attorney if I have to. 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. I was never given a written contract had computer generated signature. 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. . Home; Services Healthcare Services; Consumer Business Collections . I would not recommend TMS to my worst enemies. 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. eMerchantBroker lacks options for agencies to integrate payment platforms with processing hardware and payment gateways, which limits the speed at which a debt collector can collect the past-due payments its tracking down. Problems logging in? Just ridiculous! Banned Debt Collectors | Federal Trade Commission 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. They may even have maximum limits to any transactions that you complete. Monthly Fee $25.00 What out business owners out there about this Merchant Solutions. Weve resolved overdue accounts for clients without damaging customer relationships. Zero star rating, they are big time scam Lina M. Khan was sworn in as Chair of the Federal Trade Commission on June 15, 2021. Also, youll be required to submit the following: Your collection agency must be legal when your applications are being reviewed by processors and underwriters. The sales rep never returned my calls and is no longer with thw company. how much money you owe. The types of collections that different agents and agencies deal with, though, can vary widely. 180 Maiden Lane, 15th Floor. We can help your collection agency even if you've you been turned down by service providers in the past. These people are the biggest crooks Ive ever encountered. High-risk specialist Durango Merchant Services ability to place accounts for merchants with histories of excessive chargebacks is invaluable to new collection agencies. What Consumers Should Do When Fake Debt Collection Scammers Call. Read more below to learn why we chose these options. I didnt understand the fees so I called them and asked them to give me the run down of EVERYTHING on the fees page and was told just the requirements the gateway fee they said wasnt in the contract because its a regular thing with all processors. Not an existing MeS Virtual Terminal User? I paid $99 for $1000 and for another $1000 i paid $119 it means more than 10% Looking For One Of These Merchant Accounts For Collection Agencies? If your company does not show any indication that you conform to this act, then your application will be outright rejected. They are charging me a huge fee to cancel. We can help you to seamlessly integrate eMerchant Authority payment solutions into your business. This credit card processing company is HORRIBLE! Debt collection | Consumer Financial Protection Bureau Help us to improve by providing some feedback on your experience today. Swipe credit cards securely by implementing PCI compliant payment solutions. Sending Chargebacks to Debt Collection Due to the unique processes that eMerchant Authority has in place, the risk of a chargeback is low. Credit Card Processing for Debt Collection Businesses Which Collection Agencies Will Accept a Pay For Delete Agreement? Maintaining these ratios is challenging for merchants in many industries. When people stop paying, unpaid debts are sent to collection agencies These agencies go after debtors to recover the money for banks and creditors. Seattle Collection Agency | Merchants Credit Association JUST SAY NO. Specialized account support for multiple collection agency types. Early penalty for cancellation. 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. Annual Fee $79.00 Very shady business practices and a very deceptive sales process. That said, rather than try to sign you up for an overpriced equipment lease, Durango offers terminals, PIN pads, and mobile card swipers for direct sale on its website, and its payments gateway is a proprietary product. The Merchant Solutions fees and terms are average for the industry, so we have given TMS a C in this section. I DO RECOMMEND THAT YOU DO NOT ATTEMPT TO USE THEIR SERVICES!! I wish I would have read some reviews before I sign up with these con artists. Credit card processing for debt collection agencies We provide merchant account services for both low and high-risk businesses. eMerchantBrokers strictly long-term contracts and expensive early termination penalties can significantly hinder the ability of a new collection agency to flourish, and the payment processors reputation for misleading sales gimmicks doesnt help matters much. They even familiarize you with techniques and systems that keep customers satisfied and less likely to initiate chargebacks. This is an attempt to collect a debt and any . The sole purpose of the material presented herein is to alert, educate, and inform readers. With our underwriting services in place, you can enjoy a much greater success chance of obtaining a merchant account with one of these banks. But unlike other financial transactions, you don't have time to spend phoning and e-mailing. As is the case with our other top choices for debt collection merchant account providers, Soar supports systems for chargeback management and fraud prevention that can make or break the long-term success of any type of collection agency. Suggest you consider that Paymentech and many others do not charge this. After i cancle my account they charged me 200$ come out of no where. not explained. Note: We have adjusted this companys BBB rating according to our own standards. 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 ). The collector has to tell you four pieces of information. They will give you false information over the phone and then tell you their salesperson had no authorization to give it. They get you sign up with them for a minimum fees and after few months they hit you with 7% fees.