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Signature not by me, computer generated. Besides, we understand just how financially difficult it is to become a business owner. PaymentCloud helps merchants navigate the necessary steps to become PCI-compliant within 90 days and without charging a PCI compliance fee. 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. Since 2017, Noah has worked for federal, state, and commercial clients as a proposal writer, technical writer, copywriter, and analyst. The majority of Americans use loans, credit cards, lines of credit to pay for their lifestyles. To my surprise after trying them out I was told that I had signed a 3 yr contract with a $350 termination fee. He has a BA in Creative Writing and a Minor in German from Goucher College. Merchant Mavericks ratings are editorial in nature, and are not aggregated from user reviews. Fortunately, there are providers willing and able to help. 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. 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. We have lowered the companys score in this section to a C to reflect this consistency. The chargeback will be made against their account. not explained. Merchant account providers know that there will always be a bit of a risk dealing with debt collection agencies. With EMB, you can enjoy chargeback management tools, payment gateways, and fraud filters. Also when you call they have no customer service and are rude on the phone. They are thieves because they stole money from my account and wont make it right with me. The rule clarifies how debt collectors can communicate with you, including what information they're required to provide you. We have located multiple The Merchant Solutions customer service numbers: (888) 707-2836 Toll-Free Customer Support/Sales This lack of transparency in pricing is typical of the industry in general. Our experienced attorneys can help you come up with a strategy to deal with your debt while keeping your business running. Home; Services Healthcare Services; Consumer Business Collections . 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. We enforce federal competition and consumer protection laws that prevent anticompetitive, deceptive, and unfair business practices. 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. I will make sure this is my last time using this company. Best Collection Agency Merchant Accounts For 2023 - Merchant Maverick See this page to learn how we support our operations. Payment gateways offer an additional level of protection compared to virtual terminals by encrypting payment information before transmitting it to an acquiring bank. Milford, DE 19963. They need to know that if they are going to be offering you services that there is a strong chance that they will get their money back in the event of a chargeback. The .gov means its official. That means we spend every day sharpening our tools and providing the know-how to efficiently resolve delinquencies and liquidate accounts. Lots of hidden fees that other companies dont charge! please dont sign up and let people know about that. We may earn revenue if you obtain services from a provider that we recommend. BE AWARE!!! To support this enormous responsibility we earn some of our revenue through affiliate fees and advertising. Amazing! Learn more about our monetization policies here. 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. These people called me for weeks and sent me all kinds of sales materials when my business started. These actions contribute to a negative public perception of the industry and demonstrate to some banks offering merchant accounts that the businesses in the collections industry are high-risk. 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. These are charged beyond any percent fees. Business owners starting a collection agency need to thoroughly account for their startup costs and potential interruptions to future revenue due to customer chargebacks and instances of fraud. These gateways may also support online portals through which users must enter before they can submit their payments online. They charged me $300 for what they called setup charges. This form is for feedback only. It took me 2 weeks of calling NON-STOP to get any response. They refuse to refund the money. Credit & Debt Collections Merchant Services - DigiPay Solutions I agreed to pay back the money that was owned. PaymentCloud specializes in difficult-to-place merchant accounts for credit card processing. 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. Today they transferred $70 out of the bank account which now has been shut down over theyre crazy charges. It's a cut throat industry. Recently contacted The Merchant Solutions about a fee they charged me on my merchant account. The competition is real with so many POS servicing company. If your company does not show any indication that you conform to this act, then your application will be outright rejected. Worse company ever. And it was my fault for not reading the fine print on the documents. If they cannot guarantee this, then you will likely not be offered a high-risk merchant account with that company. These businesses are associated with a higher rate of risks related to payment processing and a large volume of chargebacks. 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!! Essentially, they steal from the customer. TMS offers a dedicated support phone line and an email form on its website. The overall household debt for an average family increased by 11% . BBB received a pattern of complaints concerning collections practices. 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. 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. Youll first need to navigate the logistics of processing different customer payment types with different pieces of hardware. This post will help: Cancelling a Merchant Account Without Paying a Fee. This company is deceitful. Payment gateways transmit data between an agencys point of transaction and the receiving payment processor. Flexible and transparent pricing suits high- and low-ticket agencies. Screw this place I wish their was a way we could put them out of business. Thanks ANAIS. I have been in contact with them for months now, and they still cannot give me a justifiable answer. 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 will close down your account. Very shady business practices and a very deceptive sales process. 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. Annual PCI Fee $99.00 How to look up licensees and those debt collectors allowed to do Memo from Chair Lina M. Khan to commission staff and commissioners regarding the vision and priorities for the FTC. eMerchantBroker lacks options for agencies to integrate payment platforms with processing hardware and payment gateways, which limits the speed at which a debt collector can collect the past-due payments its tracking down. We work to advance government policies that protect consumers and promote competition. For new business owners who place a particular focus on hands-on customer service, PaymentCloud offers dedicated account representatives available to you throughout the lifetime of your account. As is the case with other industries that fall into the high-risk category, collection agencies operate in an unstable regulatory climate and unfortunately experience a higher risk of unreliable streams of income. On the downside, Durango doesnt disclose its pricing plans to the public on its website, which can be frustrating. To keep an ACH account in good standing, debt collection agency merchants need to keep revokes (chargebacks) under 0.5% and returns less than 15%. 100$ fee come out of no where every month, and when i called them they said that 100$ fee only apprea once a year. 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. It is worth noting that being a high-risk company does not mean that your application for a merchant account will always be rejected. eMerchant Authority can help with this. if anyone do business with this scums be prepared to have a high blood pressure. Ensure you understand the contract terms and all the costs involved with the credit card payments before you sign the contract. This Post Might Help: Cancelling a Merchant Account Without Paying a Fee. Some of these limitations can be pretty tough on a business, particularly in their early days. PCI Non-Cpmpliance. Austin Smith was very knowledgeable and helpful! If you are looking for a merchant account for your debt collection company, or you have any questions about the services that we provide, then please reach out to us today. To know the right provider, here are factors to consider when looking for a debt collection agency for your debt collection business. Copyright CardPaymentOptions.com, Inc. (Digital Fingerprint: 0d38c6720f0d78a701b74d58653af608). 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. Debt Collection Merchant Account Solutions - National Merchants Association They charge for any reason and they have a lot mistake they charge me before even i start with them for $28 and when i called them they said that was mistake they charge me $39 and $69 for annual fee and i just work with them a few days. Thousand Oaks, CA 91362. TOTAL SCAMMERS!!! Has representatives that open fradulent accounts. I will NEVER consider using them again. Youll get your merchant account for your collection agency in as little as 24 48 hours. 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. 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. The Merchant Solutions, founded in 1999, is a small merchant account provider based in Woodland Hills, California. They said they are the cheapest one but they are not. The Merchant Solutions provides credit card, debit card, EBT, gift card, ATM, and check acceptance. eMerchantBroker.com. 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. I used Merchant Solutions for approx. 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. Such a provider will have a better understanding of the challenges facing your industry, and they may even advise on how to solve such issues. Our services are secure and reliable.