With out so much as a single warning they withdrew ridiculously large amounts money from my amount, and were angered when I asked why. They will tell you that there are no hidden fees and no extra charges. Independent sales agents are often paid by commission and are therefore motivated to sign merchants to the most expensive contract terms they can. eMerchant Authority can help with this. This Post Might Help: Best Restaurant Merchant Accounts. I was very skeptical and was sure that the contract did not disclose a 3yr aggreement or termination fee. EMB offers customized payment solutions to collection agency merchants that offer these services: To get your merchant account, you just need to fill out EMBs quick online application. Its important to be able to connect with a real person on the phone. The second your merchant account closes down is the second that you are no longer able to accept payments for your company. 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. 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. Understand how the CFPB's Debt Collection Rule can help you. Click here to earn a reward. The Merchant Solutions offers a variety of e-commerce services, Audit Your Current Statement To Find Its Hidden Fees. I will NEVER consider using them again. Learn more about dealing with debt collection at ftc.gov/debt. Horrible company. The Best Merchant Accounts For Collection Agencies & Debt Collectors. I have proof of all deductions after I cancelled. Annual Fee $79.00 High-risk specialist with anti-fraud and anti-chargeback protections. Today was the last straw which we really been shut down since April over covid19. Disclaimer: Merchant Maverick aims to provide accurate and up-to-date information to assist you in your research.
This has Been the worst POS processing company I have ever felt with. 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. Copyright 2023 eMerchantBroker, LLC. Ready to integrate payment processing solutions into your new business? * The terms and conditions of this promotion currently cannot be found on the website. 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 have located multiple The Merchant Solutions customer service numbers: (888) 707-2836 Toll-Free Customer Support/Sales 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.
Sequoia Financial Services - 2021 Anybody have any suggestions for getting out of this company? The collections industry is a particularly high-risk one, and some high-risk merchant account providers still dont suit the needs of new and growing debt collection businesses. Some collectors harass and threaten consumers, demand larger payments than the law allows, refuse to verify disputed debts, and disclose debts to consumers' employers, co-workers, family members, and friends. This means that we can offer rates that are a little bit cheaper than most other high-risk merchant account providers. 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. Youre also working with a business that knows your problem and has the fix. Their customer service is simple horrible. If they cannot guarantee this, then you will likely not be offered a high-risk merchant account with that company. 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. Then I began getting charged a PCI non compliant fee $40.00. He has nearly two decades of experience in card payment services, both as a former merchant services sales representative and as a professional journalist covering the payments industry. They actually added 19 pages to our contract virtually and said we signed them 1 1/2 years after signing the original. Pam called me offering a competitive rate for credit card processing. When you ready to cancel their services they hit you with ridiculous restocking fee and cancellation fee. They are beyond shady and dont care at all about customer service!!! 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. Whatever type of debt collection your business operates in, we are confident that we can find a high-risk merchant account for you. This means that our job is to reduce the risk of any transactions for the merchant bank.
With a unique regulatory background and experience in high-risk industries, Flex Payment Solutions offers credit card processing that integrates simply with your system, full transparency on fees and 100% compliance. When I wanted to cancel they wouldnt send me the cancellation form for weeks. This means that your business will be making a lot more profit for each transaction. 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. A lot of other company with no contract and fees to work with out there. Any and all use of trade names and/or marks are for identification purposes only and shall not be construed as a claim of affiliation, or otherwise, with CardPaymentOptions.com, Inc. ("CPO") in any form. Their disclosure pricing on cancellation of service was not mentioned to me when I was docusigning the paperwork via Internet. I have tried to use card reader several times without success. They Are Not truthful about their service. Now illness has caused me to lose my merchant tax ID. Do not give them your business.
Debt Collection FAQs | Consumer Advice Now that youre familiar with the logistics of payment processing youre likely to navigate, its time to consider some tips to get your collection agency approved by an acquiring bank. 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. The Merchant Solutions processes most major payment types. She said that I would need to submit an application in order to verify the discounts they were offering.
Login - vt.merchante-solutions.com Copyright 2020 eMerchant Authority | Website by JM Marketing. Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services. They may even have maximum limits to any transactions that you complete.
Owe CFG Merchant Solutions? Learn More Here - Tayne Law Group Payment plans, too, are transparent and predictable enough for even very small debt collection businesses to quickly parse through and understand. They are very rude and they will not correct the problem with me even though they said they would. Youll get your merchant account for your collection agency in as little as 24 48 hours. These customer chargebacks can make acquiring banks wary of approving merchant account applications from debt collectors. Its website can be hard to use as well. eMerchant Authority works exclusively with businesses, such as credit repair companies, that have been deemed to be high-risk clients. 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. Square is a top choice for POS for any type of business. PaymentCloud can help almost any business get approved for payment processing. Product & company names, logos, and trademarks referred to on this site belong to their respective owners. While the process for applying for a merchant account with us is not instant, we have been doing this a long time. A handful of debt collectors employ scare tactics such as calling debtors around the clock or harassing them in person for collections. We are not being charged an ADDITIONAL $159.90 (received bill in the mail) with no explanation of what the fee (s) is for. 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.
Debt Collection Agency Merchant Account - PayKings The company is headquartered at 22801 Ventura Boulevard Suite 300, Woodland Hills, California 91364. Soar offers an automated application process online that takes minutes to complete and provides merchants with a quote after the fact. Instabill offers credit card terminals albeit with little information concerning specific terminal models or features on its website. I set up a payment arrangement . These gateways may also support online portals through which users must enter before they can submit their payments online. There are a bit more than 9.000 businesses in the industry that employ over 150.000 people. Any unauthorized copying and reproduction of the content of this page, including all meta data and computer code, is strictly prohibited. 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. Upon cancellation after over 4 years I returned the machine in good order. services due to the high risk associated with debt collection businesses. 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. 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. How To Make The Right Choice, Buy Now Buttons: The Key To Selling On Your Blog Or Website, automated clearing house (ACH)/electronic fund transfer (EFT) payments, types of professional liability insurance, complete list of High-Risk Merchant Account Reviews, The 6 Best E-Cigarette & Vape Merchant Accounts, The Best Options For Fantasy Sports Merchant Accounts (& How To Get Your Account Approved), The Best Merchant Accounts For Travel Agencies, Booking Firms, Tour Operators & Other Travel Businesses, FreshBooks Payments 101: The Complete Guide To Using FreshBooks Credit Card Processing Service, Coronavirus (COVID-19) Guides & Resources, Gift Card Systems For Small Business Guide: Best Ways To Sell Small Business Gift Cards In 2023, 8 Cheapest Credit Card Processing Companies & Low-Cost Merchant Services, Best Emergency Business Loan Options For Your Small Business, What Is Shopify & How To Use Shopify In 2023. 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. Phillip created this website and has written over 1,000 articles regarding all things payments. He has a BA in Creative Writing and a Minor in German from Goucher College. Biggest rip-off company, holding my $ 2500 in the name of government, one employee working all the time and dont know ownership of this company , dont sign any account with this company, This post will help: How to Make Your Payment Processor Release Your Money. Don't Fall Into An Expensive Trap. *Rates quoted as the % above normal card interchange costs, dues, fees, and assessments. 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. The .gov means its official. The vendors that appear on this list were chosen by subject matter experts on the basis of product quality, wide usage and availability, and positive reputation. For me customer support is key and Austin is definitely an asset to this company. 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. Has representatives that open fradulent accounts. 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.
The Merchant Solutions 2023: Reviews & Complaints - CardPaymentOptions.com This form is for feedback only. 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 ). This means that your company can process debit and credit card transactions, and it will do this for an affordable price. From The Editor We can help your collection agency even if you've you been turned down by service providers in the past. My request to talk to a supervisor and to review the contract I had supposely sign went unanswered. 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. Payment gateways offer an additional level of protection compared to virtual terminals by encrypting payment information before transmitting it to an acquiring bank.