processing as well as the collections industry, in order to support compliance and best practices adherence . If anyone has a better option please let me know. The Merchant Solutions rates as an average merchant services provider across the board according to our rating system. 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. Host Merchant Services is an ideal payment processor for new agencies operating in the debt collection industry. A handful of debt collectors employ scare tactics such as calling debtors around the clock or harassing them in person for collections. Try PaymentCloud. I have never had any other merchant?! Square is a top choice for POS for any type of business. I set up a payment arrangement . 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! They want me to pay almost $900.00 for equipment I dont use. is the best thing you can do to improve your business cash flow and offer more payment options to your customers. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); BE AWARE!! We also encourage merchants to check out our list of the providers of the best merchant accounts. Its like they try to rip you off once last time b4 they let you go. All they do is to get you sign up the contract, but be sure to read the fine print on auto renew, they will auto renew you into another contract even their machine never works. Annual Fee $79.00 Of course, we will provide you with all of the tools that you need to process payments. They said they would beat my current rate but never could. I have filed a complaint with the bbb and am probably going to get a attorney to get my money back. Swipe credit cards securely by implementing PCI compliant payment solutions. I left MerchantSolutions a number of months ago, even though it cost me remaining monthly fees until my contract expires. This means that you will need both a payment processor and a merchant account. All feedback, positive or negative, helps us to improve the way we help small businesses. 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. Then to my horror these con-artists actually refused to close my account and continue to send me monthly bills to this day. There are a bit more than 9.000 businesses in the industry that employ over 150.000 people. Learn more about dealing with debt collection at ftc.gov/debt. They never have any answers and are only looking for ways to disconnect you. Disgusted. 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. They will not return my phone calls now. It took me 2 weeks of calling NON-STOP to get any response. We may earn revenue if you obtain services from a provider that we recommend. 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. Nasty contract . Additional rates and fees, including a technical support fee may apply. Get your cash flowing again with our Merchant Cash Advance debt recovery solutions. There is PayPal and Square, why would me, a small tiny business ever agree to such a thing I wouldnt. This post will help: Cancelling a Merchant Account Without Paying a Fee. Their customer service is simple horrible. I DO RECOMMEND THAT YOU DO NOT ATTEMPT TO USE THEIR SERVICES!! The majority of Americans use loans, credit cards, lines of credit to pay for their lifestyles. They round up everything, even when they shouldnt according to elementary mathematics! Youll first need to navigate the logistics of processing different customer payment types with different pieces of hardware. 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. Stay away from Themechantsolution!!! 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. We occasionally send out emails with special offers. This has Been the worst POS processing company I have ever felt with. Find the resources you need to understand how consumer protection law impacts your business. 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. PaymentCloud can help almost any business get approved for payment processing. they hurt me by taking un authorized money out of my account 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. Sequoia is located in the Agoura Gateway at: Agoura Hills, CA 91301. Their disclosure pricing on cancellation of service was not mentioned to me when I was docusigning the paperwork via Internet. Recovery Solutions Group, LLC (RSG) Contact Information. 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. I cant seem to get anywhere with phone calls to the company and have been shuffled around so much that I think everyone that answers the phone is a supervisorbecause that is always what the last person tells me they are transferring me to. 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. I signed up with another company, Triumph Merchant Solutions NOT this company yet this company has illegally debited my account without authorization. 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. What Debt Collectors & Collection Agencies Need To Know About Payment Processing, 6 Tips For Getting Your Collection Agency Merchant Services Approved. I tried to cancel but they said when I signed up it would automatically renew for two years and I could not cancel for another year. You want a merchant account provider who has the experience and more so one with experience working with high-risk industries like yours. Fax: (818) 707-7070. Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. A powerful, two-screen point of sale (POS) system that allows merchants to run their business . This is very dishonest company with deceptive business practices. 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. If you are a small business owner avoid these crooks like the plague. Upon cancellation after over 4 years I returned the machine in good order. 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. 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 debt collector refers to themselves as an investigator, or that they will contact the investigator on your case. BEWARE OF THESE DOGS! Should have know. The majority of Americans use loans, credit cards, lines of credit to pay for their lifestyles. If you think the bill is not yours, you could call the Attorney General in Tennessee at 615-741-3491. 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. If you need help with rate and fee negotiations, payment integrations, cost optimization, or provider selection, schedule a consultation here. They will tell you that there are no hidden fees and no extra charges. My request to talk to a supervisor and to review the contract I had supposely sign went unanswered. Suggest you consider that Paymentech and many others do not charge this. Instabill offers credit card terminals albeit with little information concerning specific terminal models or features on its website. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations. They constantly slip in unauthorized charges. She said that I would need to submit an application in order to verify the discounts they were offering. There is also $395 restocking fee, and $550 reprogram fee when you have to return their pin pad. Early penalty for cancellation. 1008 Mattlind Way. Due to the unique processes we have in place, we can offer affordable rates for our services. A collection agency merchant account is classified as high risk for a number of reasons. Credit cards are, relative to ACH/EFT payments, more prone to chargebacks. This company needs to be put out of business. Spot the latest COVID scams, get compliance guidance, and stay up to date on FTC actions during the pandemic. This is Uncle Fried Chicken LLC, and The Merchant Solutions are scammers and dont follow their own contract rules. The drawbacks that render PayKings a less-than-perfect merchant account provider are similar to the drawbacks that come with eMerchantBroker. . 651-398-1636. Forgotten Password? 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 appreciate it. eMerchantBroker is a registered ISO/MSP of BMO Harris Bank, NA, Schaumburg, Illinois. Get Your Quote. And, likeseveral other merchants weve covered in this article, Soar doesnt publically disclose its pricing plans on its website. Screw this place I wish their was a way we could put them out of business. Signature not by me, computer generated. We have located multiple The Merchant Solutions customer service numbers: (888) 707-2836 Toll-Free Customer Support/Sales My contract ends in January 2015 and I am looking forward to it. I had joined Merchant Solutions because they told me there is no contract and no charge for the machine. 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. It isnt just the finances of your business that they pay attention to either. Pure scam artists just looking to steal your hard earned money. The rule clarifies how debt collectors can communicate with you, including what information they're required to provide you. Do not believe anything they say about their service. 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. Do not get trap by this company. For me customer support is key and Austin is definitely an asset to this company. These revenues in no way influence our ratings or reviews. eMerchant Authority operates an in-house underwriting team. Horrible company. DO NOT USE!!! Although users may request an interchange-plus pricing plan, PayKings non-transparent pricing and early termination fees can actually work against up-and-coming collection agencies that may not have a consistent stream of revenue. 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. The debt collection industry is a high-risk one, which means that business owners who want to start a collection agency may face a few hurdles when looking for a merchant account thats right for them. This includes debt collection companies and debt buyers. 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. Its important to be able to connect with a real person on the phone. They may even have maximum limits to any transactions that you complete. When I explained to the representative that my business is not making any money she did not care, but wanted to know where to send the cancellation to withdraw the fee. 4 Best Merchant Accounts For Collection Agencies. An official website of the United States government. 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. 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. 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. please dont sign up and let people know about that. This company is a bunch of scam artists charging a early termination fee of 395 after we were with this company 6 yrs and only had a 3 yr contract which they took upon themselves to renew, charges for non compliance because they decided to switch companies for their compliance when I was compliant through April of 2013 and now a $50 fee for refurbishing,, it is not my problem that they need to refurbish a machine. 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. They dont deserve a BBB rating they suck!!!! If your company does not show any indication that you conform to this act, then your application will be outright rejected. Their customer service is terrible, they are never reachable. Offers automated account application and custom quote processes. If you hear from them just Run!!! The company is headquartered at 22801 Ventura Boulevard Suite 300, Woodland Hills, California 91364. $1350 fee if terminal is not returned within 10 days. These people are the biggest crooks Ive ever encountered. 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 ). We have focused on merchant cash advances over two decades. 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!!! Youll need a robust suite of hardware and services to accept payments online and over the phone, if so. PaymentCloud specializes in difficult-to-place merchant accounts for credit card processing. (800) 228-0210 Technical Support, The Merchant Solutions also offers a customer service email at [emailprotected]. If that happens, then it will be the merchant account provider on the line. We are not being charged an ADDITIONAL $159.90 (received bill in the mail) with no explanation of what the fee (s) is for. 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. This is why we want to help you get the right debt collection merchant account from the very start. AFNI Collections Agency Mailing Address: PO Box 3097Bloomington, IL 61702-3427 Phone: 866-352-0479 PFD: Yes https://www.afnicollections.com/ Alacrity Collections Corp. 1-800-355-2221 PFD: Unknown Aldous & Associates (1) 385-388-8005 PFD: Unknown All Debt Solutions, Inc. (774) 804-3328 PFD: Unknown 180 Maiden Lane, 15th Floor. Easier borrower qualifications that help you build business credit. I had to close the account, due to poor sales results. Additionally, merchants who sign up with TMS report finding themselves also committed to long-term equipment leases with early termination fees ranging from $350-$400. Note that we are not able to provide private consultations, give advice, or answer questions. the name of the creditor you owe it to. Very shady business practices and a very deceptive sales process. Understand how the CFPB's Debt Collection Rule can help you. 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. The second your merchant account closes down is the second that you are no longer able to accept payments for your company. This does not compare favorably to our list of best credit card processors. Comp Admin Fee $9.95 This form is for feedback only. This is an attempt to collect a debt and any . At this point, I am looking for a new processor . Our proven Merchant Cash Advance (MCA) default recovery solutions are proven to turn your delinquent accounts back into cash. From The Editor And because I signed the document, the company is telling me, that I am liable for the contract. CardPaymentOptions.com, Inc. All Rights Reserved. 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). The companys rating is also impacted by its higher-than-average complaint total with the BBB. After the application an account was initiated and our company began receiving charges, despite a lack of consent on my end and zero activity on the account. Your Merchant Cash Advances help commercial businesses succeed. If you stop using it, they still charge you a lot of fees. The risks related to your business will be assessed by underwriters. Over the years, we have built up connections with banks all over the world. THIS WAS A TOTAL LIE. I should have closed my bank account the minute we closed our business so I could have avoided all of this. Now illness has caused me to lose my merchant tax ID. Tayne Law Group is a New York-based debt resolution law firm that helps small business owners resolve debts of all sizes. Dont sign up or you will regret it at the end. We spoke with ANAIS today and were helped with understanding the rates. 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. Banks consider collection agencies as high-risk for several reasons, the first of which being the sometimes-negative public perception of the debt collection industry. Instead, it appears merchants must contact the company directly to learn more about the exact terms of this promotion. Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services.