This is why we want to help you get the right debt collection merchant account from the very start. This is why when you partner with us you also enjoy transparent pricing with no long-term contracts or hidden fees. Payment gateways transmit data between an agencys point of transaction and the receiving payment processor. PaymentClouds repertoire of POS solutions, card-present and card-not-present processing options, and focus on eCommerce makes it a great choice for both new and slightly more established debt collectors. Durango combats consumer-related fraud with anti-fraud protections such as Verified by Visa, Mastercard SecureCode, Fraud Scrubbing, and EMV 3d Secure 2.0. 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. Horrible company. I will make sure this is my last time using this company. 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. You will be far too high of a risk to work with. We are not being charged an ADDITIONAL $159.90 (received bill in the mail) with no explanation of what the fee (s) is for. 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. 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. 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. Get Started With Durango Merchant Services. the name of the creditor you owe it to. 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. 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. They charged me $300 for what they called setup charges. We're Proud to Advance Cash to Business Owners Like You. 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. I should have closed my bank account the minute we closed our business so I could have avoided all of this. This means that our job is to reduce the risk of any transactions for the merchant bank. Has representatives that open fradulent accounts. This company, Merchant Solutions, is a fraud. 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. 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. Due to the risky nature of your business the typical bank wont deal with you. We provide merchant account services for both low and high-risk businesses. processing as well as the collections industry, in order to support compliance and best practices adherence . When their machine failed, they blamed me even though the manufacturer of the machine explicitly explained to me that TMS was to blame for connection security error. 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. They are crooks. We also encourage merchants to check out our list of the providers of the best merchant accounts. Debt collection businesses should partner with a merchant A business that accepts credit cards for goods or services. Bitty advance immediately escalated my debts to Recovery Solutions Group and they have been harassing me ever since. Some of these limitations can be pretty tough on a business, particularly in their early days. 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). I DO RECOMMEND THAT YOU DO NOT ATTEMPT TO USE THEIR SERVICES!! I was never given a written contract had computer generated signature. This lack of transparency in pricing is typical of the industry in general. Fortunately, there are providers willing and able to help. . Then to my horror these con-artists actually refused to close my account and continue to send me monthly bills to this day. 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 hope there will be a class action lawsuit and I plan to be a part of it. Ray Siddiqui of TMS told me if I return the keypad, he would refund the $500 and 2 months of fees at $35/month. Garbage company. 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. 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. Note: We have adjusted this companys BBB rating according to our own standards. They are charging me a huge fee to cancel. Dont believe anything their salesman tells you on the phone as they will lie to you endlessly and then screw you later. 651-398-1636. We have lowered the companys score in this section to a C to reflect this consistency. Youll first need to navigate the logistics of processing different customer payment types with different pieces of hardware. Due to the unique processes that eMerchant Authority has in place, the risk of a chargeback is low. PaymentCloud can help almost any business get approved for payment processing. Since 2017, Noah has worked for federal, state, and commercial clients as a proposal writer, technical writer, copywriter, and analyst. Not much, but still more than disclosed. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); BE AWARE!! The reason why most high-risk merchant account providers are so strict during their application process is because of the nature of the debt collection business. I would have never ever sign up for such a service, if the salesperson would mentioned this info to me. They have been lying to me since day 1 of signing up with them. Specialized account support for multiple collection agency types. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations. Fast turnaround: as little as 1-2 days. 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. I have no other choice than to seek legal action against Merchant Solutions and/or the agent that opened up a second account with forged/copied paperwork. I agreed to pay back the money that was owned. Pam called me offering a competitive rate for credit card processing. 1008 Mattlind Way. The company never disclosed high fees , fees for not taking a test, and excessive closing fees. The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely. Problems logging in? Here are other additional benefits that you receive when you apply for an internet merchant account with eMerchant Authority. We can also provide the tools that you need to generate financial reports for any money passing through your merchant account. Neither of these 2 complaints was resolved by the company to the satisfaction of the merchant. Amazing! They will give you false information over the phone and then tell you their salesperson had no authorization to give it. These people are the biggest crooks Ive ever encountered. From The Editor If you have already signed up with them, get out fast. This means that your company can process debit and credit card transactions, and it will do this for an affordable price. 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 Credit cards are, relative to ACH/EFT payments, more prone to chargebacks. Home (425) 643-2613 (800) 755-1107. The rule clarifies how debt collectors can communicate with you, including what information they're required to provide you. This means that you cannot work with companies like PayPal or Square. Very rude on phone, does not care about you as a customer. John in Customer Service was wonderful today with assisting me with the set up for my new Walker Bluetooth. Keep up the excellent work Austin and thank for helping us through out the entire setup process. I have been getting charged for a second account since April of 2012 that I did not authorize and for which they are telling me I did. You could tell a collector to send a validation notice. He was patient and knowledgeable and I am more than pleased with the assistance I receive from the Merchant Solutions. They round up everything, even when they shouldnt according to elementary mathematics! Certain payment gateways services support ACH payments and may be included as part of a payment processors list of basic services. Although most of these terminals can only process card payments, they also typically include smart features like recurring billing and options to automatically collect funds. A powerful, two-screen point of sale (POS) system that allows merchants to run their business . Strongly suggest that anyone does there homework and compare companies for this service. I have proof of all deductions after I cancelled. Same situation. All they want is your money. Then I began getting charged a PCI non compliant fee $40.00. These people called me for weeks and sent me all kinds of sales materials when my business started. Let us know how well the content on this page solved your problem today. 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. 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. They said they would beat my current rate but never could. Merchant Mavericks ratings are not influenced by affiliate partnerships. What Debt Collectors & Collection Agencies Need To Know About Payment Processing, 6 Tips For Getting Your Collection Agency Merchant Services Approved. See Which Processors Offer No Monthly Fees And No Contracts. Suite 209 We were charged a $350 restocking fee after being told there would be NO FEES. Your Merchant Cash Advances help commercial businesses succeed. 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. While the process for applying for a merchant account with us is not instant, we have been doing this a long time. 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. 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! It was revoked by State of TN. Higher cost than explained in solicitations Lets start with the salesman Daniel A. This form is for feedback only. 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. This company needs to be put out of business. These processors offer Quickbooks integration and have low rates. $35.00 Early penalty for cancellation. The Signature page of the second contract is an EXACT COPY of the account I did open. The debt collector refers to themselves as an investigator, or that they will contact the investigator on your case. 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. I was told thay my rates would be as low as 1.5%. Most merchant providers are reluctant to offer. No doubt necessary to achieve any success, as the sales person was barely literate. Seriously they will destroy your business. We have located multiple The Merchant Solutions customer service numbers: (888) 707-2836 Toll-Free Customer Support/Sales services due to the high risk associated with debt collection businesses. Also when you call they have no customer service and are rude on the phone. On the downside, Durango doesnt disclose its pricing plans to the public on its website, which can be frustrating. At Monetaria, we understand that your MCA agreements are time-sensitive. How Can Merchants Use Debt Collectors to Recover Chargebacks? eMerchant Authority is a registered ISO of Woodforest National Bank, Houston, TX Member FDIC. They need to see how strong your profits are. Looking For One Of These Merchant Accounts For Collection Agencies? They stealing $1000.00 dollars from my account. Excessive chargebacks are relatively common to the collections industry, so merchant account providers that service high-risk businesses like collection agencies should offer features such as payment gateways with fraud detection tools that minimize the long-term damage done by fraudulent chargebacks. If you want to ensure that applying for debt collection merchant accounts goes as smoothly as possible, then you need to work with experts like us here at eMerchant Authority. After i cancle my account they charged me 200$ come out of no where. They said they had cancelled the account, but the following month we were charged again. Beware, do not do business with merchant solutions. The following vendors dont currently make the cut for our list of best merchant account providers due to drawbacks like fees and rates, contractual obligations, and relative lack of products and services provided. Essentially, they steal from the customer. He has a BA in Creative Writing and a Minor in German from Goucher College. 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 ). The drawbacks that render PayKings a less-than-perfect merchant account provider are similar to the drawbacks that come with eMerchantBroker. 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. You may be charged fees for using this account. The Merchant Solutions has been accredited with the Better Business Bureau since 2010 and currently has an A+ rating and has received 2 complaints in the past 36 months. This complaint total is somewhat high for a company as small as TMS, and it therefore merits a D grade in our opinion. Which Collection Agency Merchant Account Is Right For My Business? Lending and Debt Repayment Merchant Accounts. Its like they try to rip you off once last time b4 they let you go. $695 for early termination,$1500 programming fee, I have never hear of any company charging a programming fee. They may require countless numbers of documents. JUST SAY NO. So only use this business if you like being lied to and stole from cause thats what their good at. Your business cannot opt for a standard merchant account here. For me customer support is key and Austin is definitely an asset to this company. A handful of debt collectors employ scare tactics such as calling debtors around the clock or harassing them in person for collections. These are charged beyond any percent fees. Processing statements are intentionally complicated so that they can overcharge you. 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. Better look for alternatives. Although Soars $495 early termination fee (for some accounts) may be steep, the termination fee is voided after the initial contract period. Thats why weve broken down the basic features of the best merchant accounts for collection agencies and debt collectors. 53 of these reviews are positive, while the remaining 5 reviews are negative. This company was nothing but deceitful from the beginning. I am looking to upgrade 4 of my restaurants systems. My contract ends in January 2015 and I am looking forward to it. The majority of Americans use loans, credit cards, lines of credit to pay for their lifestyles. Withdrew $900 from my account and told me that it was a $400 termination fee and $500 for the keypad. Whether you're looking to save money on processing or to get approved for a merchant account, PaymentCloud can help. This company should not be allowed to do business. Home Blog High-Risk Merchant Accounts The Best Merchant Accounts For Collection Agencies & Debt Collectors, Save money on credit card processing with one of our top 5 picks for 2022. not explained. The market research firm IBIS World reports that the debt collection industry represented a $13 billion market in the US as of May 2013. They do not inform you before they process the money out of your account, Which in my opinion is bad business practice. Thanks ANAIS. Due to the unique processes we have in place, we can offer affordable rates for our services. Going to BBB and will get attorney if I have to. Seeking to take them to court for their theft. Merchant Mavericks ratings are editorial in nature, and are not aggregated from user reviews. When you should have paid 1.62. I set up a payment arrangement . A collection agency merchant account is essential to process payments in this unique industry. But unlike other financial transactions, you don't have time to spend phoning and e-mailing.
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