Problems logging in? 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. If you have your own The Merchant Solutions review to make, please do so in the comments below. This means that your business will be making a lot more profit for each transaction. I have proof of all deductions after I cancelled. They, by their own admission, billed me for numerous new and unauthorized charges that were not in my contract, and then sent me an opt out form 2 FULL DAYS AFTER the charges cleared, and refused to refund my account or cancel my service in light of their unscrupulous activity. They refuse to refund the money. TMS is a registered independent sales organization and member services provider (ISO/MSP) of Wells Fargo Bank, N.A., of Concord, California. These gateways may also support online portals through which users must enter before they can submit their payments online. 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. It only makes sense then that the best collection agency merchant account providers offer processing options for multiple payment types and a reliable system to fight chargebacks and fraud. Find Loan Options For Your Small Business. Phillip created this website and has written over 1,000 articles regarding all things payments. Looking For One Of These Merchant Accounts For Collection Agencies? We can help your collection agency even if you've you been turned down by service providers in the past. Help us to improve by providing some feedback on your experience today. However, pricing is not disclosed on either of those services. In some cases, this leads to merchants contracting with debt collection agencies. Example: If you have a sale that is then multiplied by the discount rate, and it comes out to 1.62222, you will pay them 1.63. PaymentCloud provides users with advice on choosing a chargeback management service and fraud mitigation service. Whats more, the debt collection industry is regulated by federal authorities including the FDCPA and CFPB, and is subject to legal requirements that vary on a state-by-state basis. 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. 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? 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. Disgusted. MERCHANT SOLUTIONS GROUP OPENS DOORS Business owners need capital to grow and manage their companies. A collection agency merchant account is classified as high risk for a number of reasons. We enforce federal competition and consumer protection laws that prevent anticompetitive, deceptive, and unfair business practices. This is why when you partner with us you also enjoy transparent pricing with no long-term contracts or hidden fees. Very shady business practices and a very deceptive sales process. The Merchant Solutions is definitely THE worst credit card company EVER!!!! Instead, you need to search for high-risk merchant accounts. 844-66-CFGMS (844-662-3467) A handful of debt collectors employ scare tactics such as calling debtors around the clock or harassing them in person for collections. We have focused on merchant cash advances over two decades. for lack of use and Merchants want 490 dollars to terminate service. Over the years, we have built up connections with banks all over the world. After i cancle my account they charged me 200$ come out of no where. Federal government websites often end in .gov or .mil. Square is a top choice for POS for any type of business. 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. We also encourage merchants to check out our list of the providers of the best merchant accounts. Our 24/7 customer support team is always on call to answer your questions and attend to your needs. Provider of affordable payment processing hardware that can streamline various debt collection operations. I will make sure this is my last time using this company. 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. Debt collection businesses should partner with a merchant A business that accepts credit cards for goods or services. I am still waiting on on calls from their supervisors from last year. These are charged beyond any percent fees. Customer service is horrible. With our underwriting services in place, you can enjoy a much greater success chance of obtaining a merchant account with one of these banks. 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. The Merchant Solutions has been accredited with the Better Business Bureau since 2010 and currently has an A+ rating and has received 2 complaints in the past 36 months. In addition to those 2 complaints, the company has received 58 informal reviews. Keep your money you work for and dont use them. eMerchantBroker can . Numerous times I informed her that we already had an account with a different company, and we were not ready to transition but would be happy to look at the numbers. Therefore, if you plan on accepting ACH payments online, youll likely need a payment gateway. From The Editor 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. All feedback, positive or negative, helps us to improve the way we help small businesses. Suite 209 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. 1008 Mattlind Way. I had to close the account, due to poor sales results. Then to my horror these con-artists actually refused to close my account and continue to send me monthly bills to this day. High-risk specialist Durango Merchant Services ability to place accounts for merchants with histories of excessive chargebacks is invaluable to new collection agencies. Comp Admin Fee $9.95 Weve been hit with so many fees that are hidden and that they deduct for no unknown reason as they do not tell you before hand. Its a TOTAL SCAM! Its like they try to rip you off once last time b4 they let you go. This field is for validation purposes and should be left unchanged. Whether you're looking to save money on processing or to get approved for a merchant account, PaymentCloud can help. The debt collector refers to themselves as an investigator, or that they will contact the investigator on your case. TMS offers a dedicated support phone line and an email form on its website. Dont take their Free credit card machine or any of their so-called free equipment as they will charge you a $350 Restocking Fee when you try to close your account after you find out they are overcharging and ripping you off on credit card processing fees. Our services are secure and reliable. i signed up a few weeks ago and havent been able to get into contact with them since. 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. $1350 fee if terminal is not returned within 10 days. When he isn't writing about IT solutions and innovations that help his clients, he's probably sitting behind a drumkit or adding new hardware to his computer. Dont sign up or you will regret it at the end. To my surprise after trying them out I was told that I had signed a 3 yr contract with a $350 termination fee. I have tried to use card reader several times without success. Neither of these 2 complaints was resolved by the company to the satisfaction of the merchant. All debt collectors track down past-due debts that businesses and consumers owe. Garbage company. 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. When you should have paid 1.62. I wish I would have read some reviews before I sign up with these con artists. The Merchant Solutions then hit me with a new $99 a year for a so-called PCI Compliance Program charge, a $35. Wondering what else to consider as a high-risk merchant that needs a reliable merchant account provider? 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. All they want is your money. The collector has to tell you four pieces of information. They will tell you that there are no hidden fees and no extra charges. When you choose us, youre not just getting back your assets. Total $247.95. Suggest you consider that Paymentech and many others do not charge this. eMerchantBroker is a registered ISO/MSP of BMO Harris Bank, NA, Schaumburg, Illinois. Moreover, EMB is rate A by Card Payment Options. DO NOT use this company. When an account like a credit card, auto loan, or cell phone bill becomes past due, the original creditor may attempt to collect the amount owed. 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. Maintaining these ratios is challenging for merchants in many industries. If they cannot guarantee this, then you will likely not be offered a high-risk merchant account with that company. To know the right provider, here are factors to consider when looking for a debt collection agency for your debt collection business. When account underwriters are deciding the fees or terms for working with them, they will need to see the finances of your business. I finally called and asked to cancel they told me I was in a 3yr contract, I was never told this or else I wouldnt signed up for this torture. She said that I would need to submit an application in order to verify the discounts they were offering. Run, dont Walk, from the Hustler Con Artists at The Merchant Solutions. This company needs to be put out of business.
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