VERY RUDE AND UNPROFESSIONAL.THEY ARE TRYING TO BLIND SIDE THEIR CUSTOMERS AND ROB THEM OF THEIR MONEY. I was very skeptical and was sure that the contract did not disclose a 3yr aggreement or termination fee. Beware, do not do business with merchant solutions. Getting paid to re-write this page? EMB is voted the top high risk processor in the US and has an A+ rating with the BBB. please dont sign up and let people know about that. Min. Better look for alternatives. 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. We have focused on merchant cash advances over two decades. 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. A collection agency merchant account is essential to process payments in this unique industry. Horrible company. Their hidden fees are through the roof. You may be surprised to know that this is one of the top reasons why smaller companies end up having to shutter their doors. The Clover name and logo are owned by Clover Network, Inc. a wholly owned subsidiary of First Data corporation, and are registered or used in the U.S. and many foreign countries. 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. The Merchant Solutions, founded in 1999, is a small merchant account provider based in Woodland Hills, California. The author and publisher shall in no event be held liable to any party for any direct, indirect, punitive, special, incidental or other consequential damages arising directly or indirectly from any use of this material, which is provided as is, and without warranties. PayKings comes with exclusively tiered pricing plans and only applies lower processing rates to certain qualifying transactions. PaymentCloud specializes in difficult-to-place merchant accounts for credit card processing. The Merchant Solutions also appears to resell the products of First Data (Fiserv). Thats why weve broken down the basic features of the best merchant accounts for collection agencies and debt collectors. This is why we want to help you get the right debt collection merchant account from the very start. They will give you false information over the phone and then tell you their salesperson had no authorization to give it. I got a shock when they deducted total of $1000.00 from my account in 4 payments. Annual Fee $79.00 Strongly suggest that anyone does there homework and compare companies for this service. He was patient and knowledgeable and I am more than pleased with the assistance I receive from the Merchant Solutions. Also when you call they have no customer service and are rude on the phone. 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 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. Early penalty for cancellation. To support this enormous responsibility we earn some of our revenue through affiliate fees and advertising. Numerous calls went straight to voicemail without any return calls. I have never had any other merchant?! If you need help with rate and fee negotiations, payment integrations, cost optimization, or provider selection, schedule a consultation here. 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. PayKings, although a high-risk specialist, ironically exacerbates issues with reliable streams of revenue that are common to the debt collection industry. 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. There is evidence that The Merchant Solutions utilizes independent sales agents in addition to online advertising to market its services. WOW, I wish there is a -star to rate this company, when i first started using my pos, it kept taking the money i received from my clients to a different bank account in a different state, and it took them 3 months to fix this and get my money back. Although Soars $495 early termination fee (for some accounts) may be steep, the termination fee is voided after the initial contract period. Call us now on 877-700-5790 for further assistance. Independent sales agents are often paid by commission and are therefore motivated to sign merchants to the most expensive contract terms they can. 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. 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. The collections industry demands compliance with federal and state-level regulations, and payment processors should be able to facilitate easy compliance for debt collectors. Any unauthorized copying and reproduction of the content of this page, including all meta data and computer code, is strictly prohibited. Specialized account support for multiple collection agency types. With EMB, you can enjoy chargeback management tools, payment gateways, and fraud filters. We also encourage merchants to check out our list of the providers of the best merchant accounts. Avoid this outfit as they will make your life miserable. They are awful and very dishonest do not use them. Merchant account providers know that there will always be a bit of a risk dealing with debt collection agencies. 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. A handful of debt collectors employ scare tactics such as calling debtors around the clock or harassing them in person for collections. Start by leaving a comment at the end of this review, Compare Top Rated Processors: Compare Rates, Reveal your hidden fees: Audit Your Statement, Working in merchant services: Our Free Guide. CFPB accused Encore Capital Group and Portfolio Recovery Associates Inc. of misleading and harassing consumers, which led . 1008 Mattlind Way. Dont give them, or their mother company, First Data, your business!!! 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. Required fields are marked *. Pure scam artists just looking to steal your hard earned money. 4 Best Merchant Accounts For Collection Agencies 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. The worst company to do business with ever!!!! 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. 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. 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, 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. Comp Admin Fee $9.95 Suite 209 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. If you think the bill is not yours, you could call the Attorney General in Tennessee at 615-741-3491. So, its no surprise that banks often deny them merchant accounts. how much money you owe. 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. Stephanie T. Nguyen, Chief Technology Officer, Include spaces in matter number if applicable. You will not have enough time to do it, the machine terminal breaks all the time. They need to see whether you have run into any issues previously, particularly when it comes to chargebacks. 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. Learn more about dealing with debt collection at ftc.gov/debt. This means that your company can process debit and credit card transactions, and it will do this for an affordable price. eMerchant Authority works exclusively with businesses, such as credit repair companies, that have been deemed to be high-risk clients. Lina M. Khan was sworn in as Chair of the Federal Trade Commission on June 15, 2021. Monthly Processing RangeUnder $1,000$1,000 - $5,000$5,000 - $25,000$25,000 - $50,000$50,000 - $100,000Over $100,000. 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. The Signature page of the second contract is an EXACT COPY of the account I did open. $1350 fee if terminal is not returned within 10 days. 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! 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. This company and its employees are rude, I have been trying to cancel and they make it difficult. Abdulali Mithani is the CEO and chairman of The Merchant Solutions, though LinkedIn also lists a Zahra Mithani as CEO and a Taufia Mithani as CEO and chairman. Offers automated account application and custom quote processes. close down your account. Nasty contract . Find Loan Options For Your Small Business. Its important to be able to connect with a real person on the phone. Learn more about the new debt collection rule. Home Blog High-Risk Merchant Accounts The Best Merchant Accounts For Collection Agencies & Debt Collectors, Save money on credit card processing with one of our top 5 picks for 2022. See Who The Worst Processors Are. Disclaimer: Merchant Maverick aims to provide accurate and up-to-date information to assist you in your research. Worse company ever. I will make sure this is my last time using this company. The debt collection agency industry is one that grossed over $10.4 billion in 2013, domestically, collecting $55.2 billion in acquired debt, and these numbers just continue to grow with every passing year (approximately 15% each year since). My contract ends in January 2015 and I am looking forward to it. They said they are the cheapest one but they are not. Learn how to resolve this complaint. 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!! Businesses need cash: Restaurants, Bars & Hotels Automotive Salons & Day Spas Doctors, Dentists & Vets Franchises & more Cancellation take place 30 days after the day is cancel and tones of ridiculous fee charged during those 30 days. Forgotten Password? For instance, some payment processing providers who work with debt collectors may offer services such as chargeback prevention and no additional cost when processing certain transactions. Customer service is horrible. 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. Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services.
New Hanover Township Police,
Articles M