Needless to say, I immediately sent the keypad and tracking revealed they received it in 3 days. In addition to those 2 complaints, the company has received 58 informal reviews. The collections industry demands compliance with federal and state-level regulations, and payment processors should be able to facilitate easy compliance for debt collectors. 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. Pure scam artists just looking to steal your hard earned money. A lot of other company with no contract and fees to work with out there. 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. 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. If your company is in the business of collecting debts, then you will need to have some way to process payments. Debt collectors that are trained properly cannot act in a false or misleading manner in an effort to get you to pay. They do not inform you before they process the money out of your account, Which in my opinion is bad business practice. We work to advance government policies that protect consumers and promote competition. 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. Any unauthorized copying and reproduction of the content of this page, including all meta data and computer code, is strictly prohibited. If you want to pay unregulated fees like a $9.99 a month regulatory fee and a $6.95 monthly data insurance fee and a $150.oo yearly anuall PCI FEE this is the processor for you.. The vendors that appear on this list were chosen by subject matter experts on the basis of product quality, wide usage and availability, and positive reputation. Their disclosure pricing on cancellation of service was not mentioned to me when I was docusigning the paperwork via Internet. After i cancle my account they charged me 200$ come out of no where. Garbage company. 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. Problems logging in? 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. That said, Host Merchant Services exclusively interchange-plus pricing plans may be cost-prohibitive for low-ticket and very new agencies. 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 collector has to tell you four pieces of information. Some merchant account providers may offer high fees. Keep your money you work for and dont use them. I would not recommend TMS to my worst enemies. Upon cancellation after over 4 years I returned the machine in good order. 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. 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. Comp Admin Fee $9.95 I signed up with another company, Triumph Merchant Solutions NOT this company yet this company has illegally debited my account without authorization. This lack of transparency in pricing is typical of the industry in general. Within a month or two they charged me a yearly acct fee of $80.00 and then out of the blue raised the monthly rate to $20.00. It is not intended as legal or financial advice. Our integrations connect you with the best tools for your business. Youll need a robust suite of hardware and services to accept payments online and over the phone, if so. Its range of POS systems and card readers provide solutions for both card-present and card-not-present payment processing, which creates flexibility for various collection agency types. Why would we want a service we couldnt use? They are thieves because they stole money from my account and wont make it right with me. Instabill offers credit card terminals albeit with little information concerning specific terminal models or features on its website. Dont sign up or you will regret it at the end. Only. 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 Merchant Processing Advisors can find multiple merchant account providers and can offer virtual terminals and payment gateways that allow their clients to process payments in a secure manner. See Which Processors Offer No Monthly Fees And No Contracts. Fortunately, there are providers willing and able to help. DO NOT use this company. Home (425) 643-2613 (800) 755-1107. Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services. 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. Very rude on phone, does not care about you as a customer. Our mission is protecting consumers and competition by preventing anticompetitive, deceptive, and unfair business practices through law enforcement, advocacy, and education without unduly burdening legitimate business activity. 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. Product & company names, logos, and trademarks referred to on this site belong to their respective owners. Memo from Chair Lina M. Khan to commission staff and commissioners regarding the vision and priorities for the FTC. 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. Since these banks know and trust the quality of our services, they will be able to trust you too. TOTAL SCAMMERS!!! With our underwriting services in place, you can enjoy a much greater success chance of obtaining a merchant account with one of these banks. Ideal for collection agencies with a history of excessive chargebacks. The debt collector refers to themselves as an investigator, or that they will contact the investigator on your case. I would have never ever sign up for such a service, if the salesperson would mentioned this info to me. Due to the unique processes that eMerchant Authority has in place, the risk of a chargeback is low. The site is secure. 844-868-8436, 877-664-9642, 877-599-2008, 407-544-3632, 814-351-0205, 888-667-0533, 844-378-7772, 386-478-4129, 850-391-2427. 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 . While the information in the above article is believed to be accurate as of its publish date, the author and publisher make no representation or warranties with respect to the accuracy, applicability, fitness, or completeness of the contents. Ready to integrate payment processing solutions into your new business? Due to the unique processes we have in place, we can offer affordable rates for our services. Thats why weve broken down the basic features of the best merchant accounts for collection agencies and debt collectors. Opens accounts with terms not agreed to. Host Merchant Services is an ideal payment processor for new agencies operating in the debt collection industry. They will not return my phone calls now. Once the application process starts, we will find the best merchant account for you. They need to see how strong your profits are. Specifically, consumer complaint activity alleges this business claims to be a law firm attempting to collect on debts that. Debt Collection Agency Merchant Account| Fast Approval When banks determine a businesss risk status, they consider that businesss complete history of chargebacks. After he review my merchant statement he promised me that Im going to save $100.00 a month, I signed & cross the $495.00 early termination fee & initial the pages. Fast turnaround: as little as 1-2 days. Beware, do not do business with merchant solutions. Call 1-888-288-2692. Copyright 2020 eMerchant Authority | Website by JM Marketing. eMerchant Authority is a registered ISO of Woodforest National Bank, Houston, TX Member FDIC. I was never told about a restocking fee and some other charge until I got ready to cancel. If you have already signed up with them, get out fast. 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. Youll first need to navigate the logistics of processing different customer payment types with different pieces of hardware. Very shady business practices and a very deceptive sales process. They are beyond shady and dont care at all about customer service!!! 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 . A collection agency merchant account is classified as high risk for a number of reasons. This has Been the worst POS processing company I have ever felt with. The Merchant Solutions provides credit card, debit card, EBT, gift card, ATM, and check acceptance. They are awful and very dishonest do not use them. If you hear from them just Run!!! Instabills main draw is its services to high-risk international merchants that process offshore payments, although its support for brick-and-mortar agencies that need on-site payment processing leaves something to be desired. Monthly Processing RangeUnder $1,000$1,000 - $5,000$5,000 - $25,000$25,000 - $50,000$50,000 - $100,000Over $100,000. This means that you will be out of business. They may require countless numbers of documents. The drawbacks that render PayKings a less-than-perfect merchant account provider are similar to the drawbacks that come with eMerchantBroker. Get Your Quote. Whatever type of debt collection your business operates in, we are confident that we can find a high-risk merchant account for you. Merchants can get more competitive contract pricing by instead going with a cheap merchant account provider. 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. High-risk specialist Durango Merchant Services ability to place accounts for merchants with histories of excessive chargebacks is invaluable to new collection agencies. Debt collection abuses cause harms that financially vulnerable consumers can ill afford. Were dedicated to B2B debt recovery. 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. While the process for applying for a merchant account with us is not instant, we have been doing this a long time. The overall household debt for an average family increased by 11% . They constantly slip in unauthorized charges. We take great pride in providing one of the only objective an unbiased merchant account review websites on the internet. We appreciate it. They actually added 19 pages to our contract virtually and said we signed them 1 1/2 years after signing the original. Don't Fall Into An Expensive Trap. Do not give them your business. Before You Switch Processors, Find Out How Other Businesses Got Fee Refunds From Their Current Processor. Pam called me offering a competitive rate for credit card processing. This means that the process is fast. As a small business owner I was looking for a way to expand my business by being able to accept credit cards, so I may be able to open my door to new clientele. I will report this matter to BBB about their sales / marketing strategy for omitting such cancellation fee info. They are crooks. These gateways may also support online portals through which users must enter before they can submit their payments online. 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. Kim, this just happened to me and I wanted to see if you had any outcome in your situation. Suite 209 Most merchant providers are reluctant to offer. Debt Collection Merchant Services - Merchant Card Advisors Spot the latest COVID scams, get compliance guidance, and stay up to date on FTC actions during the pandemic. She said that I would need to submit an application in order to verify the discounts they were offering. Neither of these 2 complaints was resolved by the company to the satisfaction of the merchant. 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. This means that you could, effectively, lose your ability to run your business. 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. Click here to earn a reward. 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. Since debt collection merchants are considered high risk, traditional banks and other financial institutions usually try to stay away from this type of businesses. This means that you cannot work with companies like PayPal or Square. 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. An official website of the United States government. 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. Host Merchant Services caters well to collection agencies with various business models due to its specialized accounts with customized pricing for large- and small-ticket agencies as well as nonprofits. service provider that has expertise in high-risk merchant A business that accepts credit cards for goods or services. Tayne Law Group is a New York-based debt resolution law firm that helps small business owners resolve debts of all sizes. There are more than 50 negative The Merchant Solutions reviews on this and other consumer protection websites, and many of these The Merchant Solutions complaints have been posted within a year of this update. By working with eMerchant Authority, this is a problem that can be avoided. They dont deserve a BBB rating they suck!!!! A full point-of-sale (POS) system in one sleek package. 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. I set up a payment arrangement . 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!!! 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. The Merchant Solutions commits serious unethical and possibly illegal business practices, and you can see their legacy of fraud at RipOff Report.com or the BBB for Woodland Hills California, or on Yelp.com. The chargeback will be made against their account. Square is a top choice for POS for any type of business. At this point, I am looking for a new processor . 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. These are all fees that were started 8 months into my contract. Credit cards are, relative to ACH/EFT payments, more prone to chargebacks. Search the Legal Library instead. eMerchantBroker can . High-risk specialist for U.S.-based collection agencies. The overall household debt for an average family increased by 11% during the last 10 years. At Monetaria, we understand that your MCA agreements are time-sensitive. Virtual terminals let business owners access a secure web page to process their customer payments with a built-in dashboard thats similar to a physical card reader. I will NEVER consider using them again. Im so glad I read these before making a huge mistake. Have tried reaching them, asking for copy of contract which states there is a restocking fee and additional charges, but have yet to receive it (its been 6 weeks) or no response as to additional charges (messages left and emails sent). Why Is Credit Card Processing For Collection Agencies Considered High Risk? Merchant Mavericks ratings are editorial in nature, and are not aggregated from user reviews. Additional rates and fees, including a technical support fee may apply. Numerous calls went straight to voicemail without any return calls. They never have any answers and are only looking for ways to disconnect you. Click here for more product information. The second your merchant account closes down is the second that you are no longer able to accept payments for your company. BBB received a pattern of complaints concerning collections practices. They refuse to close the account saying they will charge me $495.00 early termination feefor an account that has been opened with a copy of the contract from my real account. New York, NY 10038. 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. Address: Recovery Solutions Group. services due to the high risk associated with debt collection businesses. Maintaining these ratios is challenging for merchants in many industries. Speaking of unreliable income streams, most collection agencies struggle with customers who dispute the validity of past-due payments with banks and credit card companies. 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. These people are down right crooks! The Merchant Solutions rates as an average merchant services provider across the board according to our rating system. The Merchant Solutions offers a variety of e-commerce services, Audit Your Current Statement To Find Its Hidden Fees. Exclusive Promo: PaymentCloud will give you $200 if they can't beat your current rate. 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. close down your account. 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. MCA is a premier full-service debt collection agency, providing successful debt management solutions with integrity since 1937. This field is for validation purposes and should be left unchanged. I have proof of all deductions after I cancelled. 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. Ensure you understand the contract terms and all the costs involved with the credit card payments before you sign the contract. eMerchant Authority prides itself in being a leader when it comes to the provision of merchant account solutions. Lots of hidden fees that other companies dont charge! When I wanted to cancel they wouldnt send me the cancellation form for weeks. They said they would beat my current rate but never could. Get Started With Durango Merchant Services. Merchant account providers know that there will always be a bit of a risk dealing with debt collection agencies.