The majority of Americans use loans, credit cards, lines of credit to pay for their lifestyles. The company is headquartered at 22801 Ventura Boulevard Suite 300, Woodland Hills, California 91364. Why would we want a service we couldnt use? I will make sure this is my last time using this company. And because customer satisfaction is what we aim for, we offer ongoing support to all our customers. These companies and people are banned, by federal court orders, from participating in the business of debt collection. Home (425) 643-2613 (800) 755-1107. Our proven investigation tools help us create fast and effective debt recovery services. They Are Not truthful about their service. Strongly suggest that anyone does there homework and compare companies for this service. service provider that has expertise in high-risk merchant A business that accepts credit cards for goods or services. Run, dont Walk, from the Hustler Con Artists at The Merchant Solutions. Has representatives that open fradulent accounts. 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. However, you need to hire a merchant debt collector account provider who offers merchant collection solutions that meet your company's needs.. To know the right provider, here are factors to consider when . However, you need to hire a merchant debt collector account provider who offers merchant collection solutions that meet your companys needs. That said, Host Merchant Services exclusively interchange-plus pricing plans may be cost-prohibitive for low-ticket and very new agencies. 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. 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. They may require countless numbers of documents. VERY RUDE AND UNPROFESSIONAL.THEY ARE TRYING TO BLIND SIDE THEIR CUSTOMERS AND ROB THEM OF THEIR MONEY. We enforce federal competition and consumer protection laws that prevent anticompetitive, deceptive, and unfair business practices. They get you sign up with them for a minimum fees and after few months they hit you with 7% fees. To get a reliable and low-cost collection agency merchant account, you just need to turn to emerchantbroker.com. 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. But unlike other financial transactions, you don't have time to spend phoning and e-mailing. Milford, DE 19963. Swipe credit cards securely by implementing PCI compliant payment solutions. Understand how the CFPB's Debt Collection Rule can help you. Ensure you understand the contract terms and all the costs involved with the credit card payments before you sign the contract. Besides, we understand just how financially difficult it is to become a business owner. By keeping the risk of chargebacks and fraud to the absolute minimum, your business can benefit. eMerchant Authority works exclusively with businesses, such as credit repair companies, that have been deemed to be high-risk clients. If you are a small business owner avoid these crooks like the plague. And because I signed the document, the company is telling me, that I am liable for the contract. You will not have enough time to do it, the machine terminal breaks all the time. Additional rates and fees, including a technical support fee may apply. Memo from Chair Lina M. Khan to commission staff and commissioners regarding the vision and priorities for the FTC. Merchant Cash Advance in Collections: What to Do The job of the business, however, is to ensure that they have processes in place to keep this risk down to the absolute minimum. I was never told about a restocking fee and some other charge until I got ready to cancel. Debt Collection Agency Merchant Services, Collection Agency Credit Card Austin Smith was very knowledgeable and helpful! The risks related to your business will be assessed by underwriters. eMerchantBroker is a registered ISO/MSP of BMO Harris Bank, NA, Schaumburg, Illinois. Merchant Mavericks ratings are editorial in nature, and are not aggregated from user reviews. These customer chargebacks can make acquiring banks wary of approving merchant account applications from debt collectors. Seriously they will destroy your business. When a customer disputes a transaction and gets a chargeback, the merchant is free to consider the reversed payment an outstanding debt and treat it as such. Recently contacted The Merchant Solutions about a fee they charged me on my merchant account. Credit card processing for debt collection agencies 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. Amazing! The mobile POS solutions that Instabill offers can be relatively time-consuming to begin using as well since Instabill requires its users to create a separate account with its mobile processing partner, CardFlight, before they can accept mobile payments from multiple devices. Debt Collectors List | NY Debt Collections List Durango combats consumer-related fraud with anti-fraud protections such as Verified by Visa, Mastercard SecureCode, Fraud Scrubbing, and EMV 3d Secure 2.0. Since I have tried to cancel with them and agreed to pay them whatever fee I can to get rid of them (which was not in my contract I signed), they are now telling me their equipment I returned is not theirs so that I cant cancel or Ill have to pay more than the equipment cost for losing it and again because I already paid for it! At Monetaria, we understand that your MCA agreements are time-sensitive. I would recommend not to do business with this company. PaymentCloud helps merchants navigate the necessary steps to become PCI-compliant within 90 days and without charging a PCI compliance fee. They stealing $1000.00 dollars from my account. Suite 209 This company should not be allowed to do business. Wehave not found any outstanding class-action lawsuits or FTC complaints filed against The Merchant Solutions. Suggest you consider that Paymentech and many others do not charge this. This company will be out of business in one year or less. 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. 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. They will give you false information over the phone and then tell you their salesperson had no authorization to give it. Fortunately, there are providers willing and able to help. If they cannot guarantee this, then you will likely not be offered a high-risk merchant account with that company. If they cannot claim the money back from the seller, then the merchant account provider will have to pay these fees. Some processors have no monthly, no annual fees, no contract, and cheap rates. 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. It is not intended as legal or financial advice. When you choose us, youre not just getting back your assets. This is an attempt to collect a debt and any . Instabill offers credit card terminals albeit with little information concerning specific terminal models or features on its website. I would not recommend TMS to my worst enemies. 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. High-risk specialist Durango Merchant Services ability to place accounts for merchants with histories of excessive chargebacks is invaluable to new collection agencies. Payment gateways transmit data between an agencys point of transaction and the receiving payment processor. There are also several risk factors and legal issues that can complicate your decision when choosing the proper payment processor. While the process for applying for a merchant account with us is not instant, we have been doing this a long time. They charged me $300 for what they called setup charges. Merchants are advised to thoroughly review their merchant agreements with The Merchant Solutions and to renegotiate their contracts if hidden fees are suspected. 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. These people are down right crooks! Thats why weve broken down the basic features of the best merchant accounts for collection agencies and debt collectors. This means that you can always stay on top of any transactions that you are making. Still interested? They have been lying to me since day 1 of signing up with them. This field is for validation purposes and should be left unchanged. Tayne Law Group is a New York-based debt resolution law firm that helps small business owners resolve debts of all sizes. We are not being charged an ADDITIONAL $159.90 (received bill in the mail) with no explanation of what the fee (s) is for. We occasionally send out emails with special offers. Phillip created this website and has written over 1,000 articles regarding all things payments. 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. 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. Remove Recovery Solutions Group From Credit Report Before You Switch Processors, Find Out How Other Businesses Got Fee Refunds From Their Current Processor. But the majority of merchant-acquiring banks reject applications from debt collectors because of the collections industrys complicated reputation. Get Your Quote. DigiPay Solutions has created a "Debt Collection Industry Primer" with important information about setting up a merchant account, controlling chargebacks, managing risk and keeping merchant accounts in good standing. Suggestion to get rid of them is to block them from your bank account, thats how they suggested getting out of a current contract! If your company does not show any indication that you conform to this act, then your application will be outright rejected. Best Merchant Accounts for Debt Collection Agencies STAY AWAY. 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. 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. As expected, a large number of The Merchant Solutions reviews on this and other consumer protection websites mention undisclosed fees, incomplete representation of rates, and a disconnect between what agents promise and what they ultimately deliver. It is worth noting that being a high-risk company does not mean that your application for a merchant account will always be rejected. 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. We can help you to seamlessly integrate eMerchant Authority payment solutions into your business. The company never disclosed high fees , fees for not taking a test, and excessive closing fees. Find Loan Options For Your Small Business. Screw this place I wish their was a way we could put them out of business. Due to the unique processes that eMerchant Authority has in place, the risk of a chargeback is low. Stay away from Themechantsolution!!! And, likeseveral other merchants weve covered in this article, Soar doesnt publically disclose its pricing plans on its website. 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. Also that free terminal will cost you $350 when you try to cancel the account. I used Merchant Solutions for approx. Your Merchant Cash Advances help commercial businesses succeed. They are charging me a huge fee to cancel. 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. All they want is your money. This has Been the worst POS processing company I have ever felt with. I have been with them since 2015 and in June,2019 I decided to go to a different processor. Other companies may just outright decline your application. No doubt necessary to achieve any success, as the sales person was barely literate. Since debt collection merchants are considered high risk, traditional banks and other financial institutions usually try to stay away from this type of businesses. I have proof of all deductions after I cancelled. TOTAL SCAMMERS!!! Thousand Oaks, CA 91362. We have focused on merchant cash advances over two decades. 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. Debt collection | Consumer Financial Protection Bureau When you should have paid 1.62. In the United States, all debt collection companies will need to conform to the Fair Debt Collection Practices Act (FDCPA). We also encourage merchants to check out our list of the providers of the best merchant accounts. Not much, but still more than disclosed. They do not inform you before they process the money out of your account, Which in my opinion is bad business practice. Customer service is a joke and they just gave me a run around, once even saying they would transfer the info to the analytical Dept while the rep was laughing. 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. 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. The competition is real with so many POS servicing company. This means that you will be out of business. I will NEVER consider using them again. CFG Merchant Solutions, LLC. FTC Staff. Debt Collection Agency Merchant Account - PayKings Lina M. Khan was sworn in as Chair of the Federal Trade Commission on June 15, 2021. This post will help: How to Get Out of a Merchant Account Contract. Thanks ANAIS. Note that we are not able to provide private consultations, give advice, or answer questions. Processing statements are intentionally complicated so that they can overcharge you. eMerchant Authority can help with this. The sales rep promised that I had nothing to lose and that I can try it for 30 days and can cancel without any penalties. Debt Collection Merchant Accounts Check out their google and Yelp and RipOffReport.com reviews for the testimony of hundreds of other customers who have been ripped off by The Merchant Solutions! Were dedicated to B2B debt recovery. These people called me for weeks and sent me all kinds of sales materials when my business started. They really do not want to do this. Merchant Cash Advance Debt Collection Services | Monetaria The Merchant Solutions provides credit card, debit card, EBT, gift card, ATM, and check acceptance. The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. What Debt Collectors & Collection Agencies Need To Know About Payment Processing, 6 Tips For Getting Your Collection Agency Merchant Services Approved. The Merchant Solutions then hit me with a new $99 a year for a so-called PCI Compliance Program charge, a $35. We can also provide the tools that you need to generate financial reports for any money passing through your merchant account. Click here to earn a reward. You may be surprised to know that this is one of the top reasons why smaller companies end up having to shutter their doors. Merchants can get more competitive contract pricing by instead going with a cheap merchant account provider. There are a bit more than 9.000 businesses in the industry that employ over 150.000 people. This company needs to be put out of business. 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. $1350 fee if terminal is not returned within 10 days. 4 Best Merchant Accounts For Collection Agencies. They also debited my account for $395.00 for a cancellation fee even though I cancelled my account 4 months after my contract was over!!! If you are in the debt collection business, then you may find it very difficult to obtain a merchant 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. Also when you call they have no customer service and are rude on the phone. 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. 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. Today was the last straw which we really been shut down since April over covid19. We work to advance government policies that protect consumers and promote competition. 53 of these reviews are positive, while the remaining 5 reviews are negative. The overall household debt for an average family increased by 11% during the last 10 years. Excessive chargebacks are relatively common to the collections industry, so merchant account providers that service high-risk businesses like collection agencies should offer features such as payment gateways with fraud detection tools that minimize the long-term damage done by fraudulent chargebacks. 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. The collector has to tell you four pieces of information. Common themes include undisclosed fees, difficulty reaching a representative, problems with leased equipment, and termination or restocking fees in excess of $900. 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. PaymentCloud specializes in difficult-to-place merchant accounts for credit card processing. In addition to its support for merchants who may be on the TMF or MATCH List, Durango also works to prevent chargebacks in the future with multiple reputable anti-fraud services. I am looking to upgrade 4 of my restaurants systems. Monthly Processing Range Before sharing sensitive information, make sure youre on a federal government site. I signed up with them and then realized my mistake as I was hit with overcharges on fees as soon as i charged my very first customer. I was very skeptical and was sure that the contract did not disclose a 3yr aggreement or termination fee. one year. 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. 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. Debt Collection Industry and Merchant Accounts Merchant Solutions retail credit card processing solutions allow merchants to offer flexible methods of payments at the point-of-sale, including major credit cards, debit cards and checks. Kim, this just happened to me and I wanted to see if you had any outcome in your situation.