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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. 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. STAY AWAY. Use our visualizations to explore scam and fraud trends in your state based on reports from consumers like you. Thousand Oaks, CA 91362. Dont take their Free credit card machine or any of their so-called free equipment as they will charge you a $350 Restocking Fee when you try to close your account after you find out they are overcharging and ripping you off on credit card processing fees. 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. Its just a penalty fee that they add on you for leaving their company. Phone number: (302) 241-0686. Learn more about dealing with debt collection at ftc.gov/debt. 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. they hurt me by taking un authorized money out of my account Several complainants outright accuse the company of being a ripoff or a scam operation. They get you sign up with them for a minimum fees and after few months they hit you with 7% fees. Save money with Merchant Solutions low processing rates and free terminal program. This company hires predatory sales people, arent up front about fees and raped my bank account. This means that you cannot work with companies like PayPal or Square. Help with PCI compliance is a godsend for businesses that operate in the highly regulated collections industry. Comp Admin Fee $9.95 (800) 228-0210 Technical Support, The Merchant Solutions also offers a customer service email at [emailprotected]. This field is for validation purposes and should be left unchanged. this will happen if you change to another company. The Merchant Solutions fees and terms are average for the industry, so we have given TMS a C in this section. These revenues in no way influence our ratings or reviews. Soar Payments is a great choice for high-risk debt collectors that are looking for a quick-yet-thorough underwriting process as well as customized quotes after their application phase. Seattle Collection Agency | Merchants Credit Association The company is headquartered at 22801 Ventura Boulevard Suite 300, Woodland Hills, California 91364. To my surprise after trying them out I was told that I had signed a 3 yr contract with a $350 termination fee. If you have your own The Merchant Solutions review to make, please do so in the comments below. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations. Because of their undisclosed fees and charges I ended up paying more than my previous company. Instead, Go with Square, go with Chase, go with Costco Elavon, go with Paypal, or any of a dozen other reputable credit card processing companies but please, dont make the same mistake i did Avoid The Merchant Solutions at all costs. The .gov means its official. Just ridiculous! The Merchant Solutions is definitely THE worst credit card company EVER!!!! Disgusted. They need to see whether you have run into any issues previously, particularly when it comes to chargebacks. The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Get your cash flowing again with our Merchant Cash Advance debt recovery solutions. the name of the creditor you owe it to. In addition to its storefront payment processing services, The Merchant Solutions also dedicates a portion of its website to advertising its virtual terminalandpayment gateway services. Credit Consulting Services, Inc. is an accounts receivable management firm that provides solutions for reducing bad debt and improving overall cash flow for businesses in Los Angeles, California. A collection agency merchant account is essential to process payments in this unique industry. DO NOT USE!!! eMerchant Authority operates an in-house underwriting team. This company will be out of business in one year or less. The sales rep is manipulative and they never disclosed a 400$ cancellation fee or an annual fee. The majority of Americans use loans, credit cards, lines of credit to pay for their lifestyles. The creditor may also hire a debt collector or sell the debt to someone who may try to collect the debt. Location & Ownership : 182 3125, Competition and Consumer Protection Guidance Documents, HSR threshold adjustments and reportability for 2023, A Century of Technological Evolution at the Federal Trade Commission, National Consumer Protection Week 2023 Begins Sunday, March 5, FTC at the 65th Annual Heard Museum Guild Indian Fair & Market - NCPW 2023. The job of the business, however, is to ensure that they have processes in place to keep this risk down to the absolute minimum. It isnt just the finances of your business that they pay attention to either. Signature not by me, computer generated. Merchant Mavericks ratings are not influenced by affiliate partnerships. We take great pride in providing one of the only objective an unbiased merchant account review websites on the internet. This complaint total is somewhat high for a company as small as TMS, and it therefore merits a D grade in our opinion. 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. 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. They even familiarize you with techniques and systems that keep customers satisfied and less likely to initiate chargebacks. Which Collection Agencies Will Accept a Pay For Delete Agreement? In addition to those 2 complaints, the company has received 58 informal reviews. There are also several risk factors and legal issues that can complicate your decision when choosing the proper payment processor. Ready to integrate payment processing solutions into your new business? John in Customer Service was wonderful today with assisting me with the set up for my new Walker Bluetooth. eMerchant Authority specializes in merchant accounts for high-risk businesses; this includes debt collection agencies. Im so glad I read these before making a huge mistake. You may be surprised to know that this is one of the top reasons why smaller companies end up having to shutter their doors. 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. It took me 2 weeks of calling NON-STOP to get any response. Although their websites navigability can be clunky, PaymentClouds history of few public complaints and excellent track record for customer support suggest that overall, it is a helpful and easy-to-work-with payment processor. Click here for more product information. Very rude on phone, does not care about you as a customer. Higher cost than explained in solicitations I was very skeptical and was sure that the contract did not disclose a 3yr aggreement or termination fee. Specifically, consumer complaint activity alleges this business claims to be a law firm attempting to collect on debts that. 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. Credit & Debt Collections Merchant Services - DigiPay Solutions The market research firm IBIS World reports that the debt collection industry represented a $13 billion market in the US as of May 2013. 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. The Merchant Solutions provides credit card, debit card, EBT, gift card, ATM, and check acceptance. In some cases, this leads to merchants contracting with debt collection agencies. Debt collectors that are trained properly cannot act in a false or misleading manner in an effort to get you to pay. Strongly suggest that anyone does there homework and compare companies for this service. Amazing! Teaming with IVR Technology Group, we also provide pay-by-phone voice . They stealing $1000.00 dollars from my account. 1008 Mattlind Way. It was revoked by State of TN. A full point-of-sale (POS) system in one sleek package. You want a merchant account provider who has the experience and more so one with experience working with high-risk industries like yours. But some payment processors may provide only limited support for brick-and-mortar payment processing or may only provide specific processing hardware on a lease. 100$ fee come out of no where every month, and when i called them they said that 100$ fee only apprea once a year. 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. I think I was the set up by Merchant Solutions. Square is a top choice for POS for any type of business. Monthly Fee $25.00 High-risk specialist with anti-fraud and anti-chargeback protections. Learn more about our monetization policies here. Early penalty for cancellation. Their customer service is terrible, they are never reachable. They terminated my account for non use since I was using another company and had not transferred over yet. They are very rude and they will not correct the problem with me even though they said they would. This includes debt collection companies and debt buyers. 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. Screw this place I wish their was a way we could put them out of business. Debt Collection Merchant Services - Merchant Card Advisors These are charged beyond any percent fees. After saying, I DID NOT SIGN FOR, I DO NOT WANT, AND FURTHERMORE NEVER RECIEVED A TERMINAL FOR A TERMINAL ACCOUT I DID NOT OPEN, BUT I AM AND HAVE BEEN GETTING CHARGED FOR THE PAST 10 MONTHS.I am no closer to solving this problem. one year. If you have already signed up with them, get out fast. Min. 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. I wish I would have read some reviews before I sign up with these con artists. 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. For this reason, they are often linked to high complaint totals. They refuse to refund the money. Problems logging in? 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. They will give you false information over the phone and then tell you their salesperson had no authorization to give it. Any unauthorized copying and reproduction of the content of this page, including all meta data and computer code, is strictly prohibited. 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. 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. This means that the process is fast. 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. This is an attempt to collect a debt and any . In the podcast below, Phillip explains how credit card processing and credit card fraud affects business owners. The collector has to tell you four pieces of information. Then I began getting charged a PCI non compliant fee $40.00. 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 drawbacks that render PayKings a less-than-perfect merchant account provider are similar to the drawbacks that come with eMerchantBroker. Keep your money you work for and dont use them. 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. 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. i signed up a few weeks ago and havent been able to get into contact with them since. You could tell a collector to send a validation notice. These people called me for weeks and sent me all kinds of sales materials when my business started. Different benefits and drawbacks that come with high-risk merchant account providers make it particularly tricky for new agencies to find a merchant account thats the right match for them. Some merchant account providers may offer high fees. Noah is a writer and content creator currently living in Fairfax, VA. Telephone: (818) 409-6000. These processors offer Quickbooks integration and have low rates. The debt collection agency industry is one that grossed over $10.4 billion in 2013, domestically, collecting $55.2 billion in acquired debt, and these numbers just continue to grow with every passing year (approximately 15% each year since). To the companys credit, the website for TMS does not appear to engage in any deceptive marketing tactics. I left MerchantSolutions a number of months ago, even though it cost me remaining monthly fees until my contract expires. Best Merchant Accounts for Debt Collection Agencies If you are thinking of signing up with them just read the BBB website with all the complaints against them and read how they arrogantly respond and refuse to ever admit they are wrong. CardPaymentOptions.com, Inc. All Rights Reserved. They need to know that if they are going to be offering you services that there is a strong chance that they will get their money back in the event of a chargeback. After i cancle my account they charged me 200$ come out of no where. I would have never ever sign up for such a service, if the salesperson would mentioned this info to me. We are not being charged an ADDITIONAL $159.90 (received bill in the mail) with no explanation of what the fee (s) is for. Merchant Mavericks ratings are editorial in nature, and are not aggregated from user reviews. 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. When people stop paying, unpaid debts are sent to collection agencies These agencies go after debtors to recover the money for banks and creditors. When account underwriters are deciding the fees or terms for working with them, they will need to see the finances of your business. Annual PCI Fee $99.00 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. Were never worried about our overdue receivables. said no business ever. 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. Common themes include undisclosed fees, difficulty reaching a representative, problems with leased equipment, and termination or restocking fees in excess of $900. Additional rates and fees, including a technical support fee may apply. This means that you will need both a payment processor and a merchant account. To keep an ACH account in good standing, debt collection agency merchants need to keep revokes (chargebacks) under 0.5% and returns less than 15%. 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. Calls from United Merchant Asset Recovery? - Consumer Law Firm Center Whether youre a startup or an established business, you can count on us to provide you with a perfect merchant service solution with the latest hardware and software tools such as Clover systems that are perfect for your retail payment needs.