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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. Certain payment gateways services support ACH payments and may be included as part of a payment processors list of basic services. They dont deserve a BBB rating they suck!!!! Disgusted. Learn how to resolve this complaint. There is PayPal and Square, why would me, a small tiny business ever agree to such a thing I wouldnt. Additional rates and fees, including a technical support fee may apply. The worst company to do business with ever!!!! We can help your collection agency even if you've you been turned down by service providers in the past. See Who The Worst Processors Are. Customer service is horrible. processing as well as the collections industry, in order to support compliance and best practices adherence . This is according to the 2016 American Household Credit Card Debt Study by Nerd Wallet. And it was my fault for not reading the fine print on the documents. Please refer to our Advertising Disclosure to learn more about how we earn compensation from affiliate partnerships and how we maintain our independent editorial integrity. Why Is Credit Card Processing For Collection Agencies Considered High Risk? They are crooks. 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. I didnt fill out anything to open OR close the account and today was hit with $495 fee. Its just a penalty fee that they add on you for leaving their company. Milford, DE 19963. From The Editor The majority of Americans use loans, credit cards, lines of credit to pay for their lifestyles. I set up a payment arrangement . Thousand Oaks, CA 91362. What Is A POS System & Choosing The Best For Your Business, Discover The Best Business Credit Cards In 2023, Best Business Credit Cards For Your Nonprofit Organization, Explore Business Credit & Banking Resources, How Signing a Personal Gurantee Affects You. The Merchant Solutions also appears to resell the products of First Data (Fiserv). When we both know its theirs! eMerchantBroker is a registered ISO/MSP of BMO Harris Bank, NA, Schaumburg, Illinois. Anybody have any suggestions for getting out of this company? 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. If so, you may be a victim of United Merchant Asset Recovery debt collection harassment. The Merchant Solutions homepage previously advertised a $1,000 Savings Guarantee, stating If we cant save you money on processing, well give you $1,000! Horrible company. Merchant Solutions is a very dishonest processor. Better look for alternatives. They actually added 19 pages to our contract virtually and said we signed them 1 1/2 years after signing the original. I foolishly fell for the lies that were fed to me by one of The Merchant Solutions(TMS)sales representative. Signature not by me, computer generated. eMerchant Authority operates an in-house underwriting team. We ordered their smartphone credit card processor and found that their application was incompatible with our phone we couldnt use it so decided to return product and cancel service. Learn more about your rights as a consumer and how to spot and avoid scams. 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. Call 1-888-288-2692. It was revoked by State of TN. 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. 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. Dont believe anything their salesman tells you on the phone as they will lie to you endlessly and then screw you later. Note that we are not able to provide private consultations, give advice, or answer questions. 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. When you ready to cancel their services they hit you with ridiculous restocking fee and cancellation fee. Debt collection businesses should partner with a merchant A business that accepts credit cards for goods or services. This is an attempt to collect a debt and any . Requirements: 600+ credit score, 12+ months in business and $100,000+ revenue. Independent sales agents are often paid by commission and are therefore motivated to sign merchants to the most expensive contract terms they can. The Merchant Solutions provides credit card, debit card, EBT, gift card, ATM, and check acceptance. 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). Our integrations connect you with the best tools for your business. 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. I should have closed my bank account the minute we closed our business so I could have avoided all of this. They have been lying to me since day 1 of signing up with them. 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. Due to the high-risk nature of your business, most merchant account providers will ask you to jump through hoops if you want to work with them. The Merchant Solutions rates as an average merchant services provider across the board according to our rating system. 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. 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. You almost certainly will not be able to work with companies like PayPal. We were charged a $350 restocking fee after being told there would be NO FEES. We have located multiple The Merchant Solutions customer service numbers: (888) 707-2836 Toll-Free Customer Support/Sales Are you with The Merchant Solutions? Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. If you do business with a debt settlement company, the company may tell you to put money in a dedicated bank account, which will be managed by a third party. 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. not explained. 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. Don't Fall Into An Expensive Trap. Annual PCI Fee $99.00 You will not have enough time to do it, the machine terminal breaks all the time. The overall household debt for an average family increased by 11% . service to inform clients in a respectful and professional manner of the status of their account before it becomes bad debt. Merchant account providers know that there will always be a bit of a risk dealing with debt collection agencies. CardPaymentOptions.com, Inc. All Rights Reserved. is the best thing you can do to improve your business cash flow and offer more payment options to your customers. Garbage company. Ready to integrate payment processing solutions into your new business? The types of collections that different agents and agencies deal with, though, can vary widely. Also when you call they have no customer service and are rude on the phone. Verify before you sign with this company. If you think the bill is not yours, you could call the Attorney General in Tennessee at 615-741-3491. Forgotten Password? Advertiser Disclosure: Our unbiased reviews and content are supported in part by. DO NOT EVEN talk to their salespeople. This does not compare favorably to our list of best credit card processors. If you can get one who has worked with businesses in the debt collection industry, the better. The creditor may also hire a debt collector or sell the debt to someone who may try to collect the debt. They have terrible reviews on google and many many complains on BBB. . John in Customer Service was wonderful today with assisting me with the set up for my new Walker Bluetooth. The Merchant Solutions fees and terms are average for the industry, so we have given TMS a C in this section. 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. I, like everyone else on this thread, was charged outrageous fees and then told that I cannot m leave my contract after it ended because it auto renews. They are very rude and they will not correct the problem with me even though they said they would. This includes debt collection companies and debt buyers. This is Uncle Fried Chicken LLC, and The Merchant Solutions are scammers and dont follow their own contract rules. Ray Siddiqui of TMS told me if I return the keypad, he would refund the $500 and 2 months of fees at $35/month. Some of these limitations can be pretty tough on a business, particularly in their early days. They will give you false information over the phone and then tell you their salesperson had no authorization to give it. Pam called me offering a competitive rate for credit card processing. Other companies may just outright decline your application. Fax: (818) 707-7070. Some processors have no monthly, no annual fees, no contract, and cheap rates. 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. A collection agency merchant account is classified as high risk for a number of reasons. It took me 2 weeks of calling NON-STOP to get any response. I was skeptical and decided not to switch to merchant solutions. 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. Youll get your merchant account for your collection agency in as little as 24 48 hours. 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. No doubt necessary to achieve any success, as the sales person was barely literate. Copyright CardPaymentOptions.com, Inc. (Digital Fingerprint: 0d38c6720f0d78a701b74d58653af608). The .gov means its official. Opinions expressed here are authors alone. Heres a quick list ofsome of the most common debt collection agency types: The different types of collection agencies all require a payment processor that can provide support for payments made over the phone as well as online. RUN! I paid $99 for $1000 and for another $1000 i paid $119 it means more than 10% To support this enormous responsibility we earn some of our revenue through affiliate fees and advertising. eMerchantBroker can . This means that you will be out of business. Common themes include undisclosed fees, difficulty reaching a representative, problems with leased equipment, and termination or restocking fees in excess of $900. *Rates quoted as the % above normal card interchange costs, dues, fees, and assessments. Look out for credit card processors who offer other merchant solutions that could be useful for your business. Search the Legal Library instead. This means that our job is to reduce the risk of any transactions for the merchant bank. Either the sales agent or someone at Merchant Solutions copied my contract changed the account numbers and other information to open a second account that involved a terminal. You will be far too high of a risk to work with. 2985 E. Hillcrest Drive 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. If your company does not show any indication that you conform to this act, then your application will be outright rejected. i signed up a few weeks ago and havent been able to get into contact with them since. Offers automated account application and custom quote processes. He has also researched and published reviews about nearly every payment services provider and processor. This company is nothing but a fraud. 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? This means that the process is fast. Collection agencies that process mostly credit card payments should keep an eye out for merchant account providers that support virtual terminals. These processors offer Quickbooks integration and have low rates. Sign up today and get a free card reader! All in all, the payment processors high-risk contract terms are reasonable even for lower-volume debt collectors. This means that you can always stay on top of any transactions that you are making. 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. 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. Still interested? Your email address will not be published. Avoid this outfit as they will make your life miserable. THIS WAS A TOTAL LIE. 20+ Proven Bank Relationships Medium/High-Risk Accounts Fast Merchant Account Approval E-Commerce & Retail Options B2B Vendors Supported, Multiple E-Commerce GatewaysChargeback PreventionACH, E-Check, Credit CardsB2B Level 2/3 Data Discounts3D Secure Frictionless CheckoutMobile PaymentsEMV Readers, Gateway Recurring BillingVaultE-Commerce Cart PluginsPOS/TerminalsInternational Merchant AccountsDedicated Account Managers. 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!! In some cases, this leads to merchants contracting with debt collection agencies. Monthly Fee $25.00 This is very dishonest company with deceptive business practices. 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 . Get the truth here. Many may find PaymentClouds organization of products on its website to be less than navigable. 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. If they cannot guarantee this, then you will likely not be offered a high-risk merchant account with that company. Specialized account support for multiple collection agency types. If you need help with rate and fee negotiations, payment integrations, cost optimization, or provider selection, schedule a consultation here. 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. The Merchant Solutions provides credit card, debit card, EBT, gift card, ATM, and check acceptance. Our proven investigation tools help us create fast and effective debt recovery services. The Merchant Solutions offers a variety of e-commerce services, Audit Your Current Statement To Find Its Hidden Fees. Total $247.95. The majority of Americans use loans, credit cards, lines of credit to pay for their lifestyles. Soar Payments works exclusively with U.S.-based agencies and therefore doesnt support payment processing to offshore accounts that international merchants may need to handle. Every review above has happened to me too exactly like the above. They have fees for everything when you cancel or have to end your contract early. 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 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. Thanks ANAIS. PaymentCloud helps merchants navigate the necessary steps to become PCI-compliant within 90 days and without charging a PCI compliance fee. I was charged a cancellation fee for an account they had no authorization to open and then when I called to cancel they said they needed a signature. I signed up with another company, Triumph Merchant Solutions NOT this company yet this company has illegally debited my account without authorization. This means that you cannot work with companies like PayPal or Square. This means that you will be out of business. If you hear from them just Run!!! Not an existing MeS Virtual Terminal User? They even familiarize you with techniques and systems that keep customers satisfied and less likely to initiate chargebacks. Were dedicated to B2B debt recovery. Ensure you understand the contract terms and all the costs involved with the credit card payments before you sign the contract. After I cancelled my account with them, they debited my account $50.00 to refurbish the terminal they provided free of charge. To the companys credit, the website for TMS does not appear to engage in any deceptive marketing tactics. I was never given a written contract had computer generated signature. 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. Lots of hidden fees that other companies dont charge! 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. It is just one of the many ways that MS has cost me money unnecessarily, including missed charges, delayed refunds, poor customer service and unnecessary payments. Debt Collection Agency Merchant Services, Collection Agency Credit Card Processing Collection Agency Merchant Account Solutions At Premier One Payments, we are the rare merchant account services provider that is ready and willing to work with collection agencies. Do not believe anything they say about their service. 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. 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. 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. You may be charged fees for using this account. We provide merchant account services for both low and high-risk businesses. If that happens, then it will be the merchant account provider on the line. Processing statements are intentionally complicated so that they can overcharge you. 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. I work damn hard to run my business and I will be damned if they are going to steal money from me. If you are a small business owner avoid these crooks like the plague. On November 30, 2021, the Debt Collection Rule became effective. Min. Find legal resources and guidance to understand your business responsibilities and comply with the law.

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