merchant solutions group debt collection

Merchant Solutions Group - Merchant Cash Advance | Working Capital Both were resolved to the dissatisfaction of the merchant or received no final response. If your company does not show any indication that you conform to this act, then your application will be outright rejected. Debt Collection Merchant Accounts I was never given a written contract had computer generated signature. Login - vt.merchante-solutions.com Independent sales agents are often paid by commission and are therefore motivated to sign merchants to the most expensive contract terms they can. 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. If you think the bill is not yours, you could call the Attorney General in Tennessee at 615-741-3491. 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. Agree with our rating?Tell us about your experience with The Merchant Solutions in the comment section below. Better look for alternatives. 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. They stealing $1000.00 dollars from my account. Debt collection | Consumer Financial Protection Bureau Such a provider will have a better understanding of the challenges facing your industry, and they may even advise on how to solve such issues. Instead, you need to search for high-risk merchant accounts. Whether you are looking for a Full Services Provider, Second Look Vendor, or collection consultant, Sequoia's services are tailored to meet your needs. Do you feel like its the right time to start a collection agency? THIS WAS A TOTAL LIE. Teaming with IVR Technology Group, we also provide pay-by-phone voice . As a debt collection agency is a high risk merchant due to the increased chances of fraud or chargebacks, Merchant Processing Advisors can find merchant . After i cancle my account they charged me 200$ come out of no where. Help with PCI compliance is a godsend for businesses that operate in the highly regulated collections industry. Credit Card Processing for Debt Collection Businesses 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. Thousand Oaks, CA 91362. 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. Our 24/7 customer support team is always on call to answer your questions and attend to your needs. Soar Payments works exclusively with U.S.-based agencies and therefore doesnt support payment processing to offshore accounts that international merchants may need to handle. Learn more about our monetization policies here. PaymentCloud provides users with advice on choosing a chargeback management service and fraud mitigation service. One The Merchant Solutions complaint mentions that TMS relies on Authorize.Net or PC Charge Pro for its online payment gateway; if this is the case, Authorize.nets payment gateway will be chargeda per-transaction fee of 2.90% plus $0.30 and a daily batch fee of $0.10 in addition to the $25 monthly gateway fee. Search the Legal Library instead. You may be charged fees for using this account. Let us know how well the content on this page solved your problem today. 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 . Also, youll be required to submit the following: Your collection agency must be legal when your applications are being reviewed by processors and underwriters. Same situation. Youre also working with a business that knows your problem and has the fix. 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. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); BE AWARE!! If you do business with a debt settlement company, the company may tell you to put money in a dedicated bank account, which will be managed by a third party. 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. Once the application process starts, we will find the best merchant account for you. Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services. Complaints for Recovery Solutions Group, LLC - Better Business Bureau This is an attempt to collect a debt and any . Im so glad I read these before making a huge mistake. Product & company names, logos, and trademarks referred to on this site belong to their respective owners. This means that you will need both a payment processor and a merchant account. Essentially, they steal from the customer. This has Been the worst POS processing company I have ever felt with. To my surprise after trying them out I was told that I had signed a 3 yr contract with a $350 termination fee. Address: Recovery Solutions Group. They refuse to refund the money. In addition, they told us the transaction fee would be 2.65% of each purchase. 4 Best Merchant Accounts For Collection Agencies. 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. This post will help: Cancelling a Merchant Account Without Paying a Fee. The Merchant Solutions is a fraud, it is an unprofessional, unethical company simple looking to scam anyone who falls for their lies. Numerous calls went straight to voicemail without any return calls. 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. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations. Payment plans, too, are transparent and predictable enough for even very small debt collection businesses to quickly parse through and understand. Since 2017, Noah has worked for federal, state, and commercial clients as a proposal writer, technical writer, copywriter, and analyst. I am still trying to get that back. Home - Merchant Solutions LLC Requirements: 600+ credit score, 12+ months in business and $100,000+ revenue. Now that youre familiar with the logistics of payment processing youre likely to navigate, its time to consider some tips to get your collection agency approved by an acquiring bank. When I wanted to cancel they wouldnt send me the cancellation form for weeks. Not much, but still more than disclosed. Click here for more product information. Learn more about the new debt collection rule. Their charges are exhorbitant. If your business has been turned away and you need to process credit card payments, you can turn to a reputable merchant account provider like emerchantbroker.com. What are debt settlement/debt relief services and should I use them? 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. Dont believe anything their salesman tells you on the phone as they will lie to you endlessly and then screw you later. Payment gateways transmit data between an agencys point of transaction and the receiving payment processor. Host Merchant Services is an ideal payment processor for new agencies operating in the debt collection industry. The company never disclosed high fees , fees for not taking a test, and excessive closing fees. No doubt necessary to achieve any success, as the sales person was barely literate. 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 Merchant Solutions processes most major payment types. They Are Not truthful about their service. Federal government websites often end in .gov or .mil. 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 never have any answers and are only looking for ways to disconnect you. Read more below to learn why we chose these options. 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. Home (425) 643-2613 (800) 755-1107. We can also provide the tools that you need to generate financial reports for any money passing through your merchant account. Soar offers an automated application process online that takes minutes to complete and provides merchants with a quote after the fact. This company should not be allowed to do business. Their payment processing services also include address verification services, cardholder verification value, POS systems, card terminals, EBT, Fleet Card acceptance, gift cards, and e-commerce solutions. Kim, this just happened to me and I wanted to see if you had any outcome in your situation. This company hires predatory sales people, arent up front about fees and raped my bank account. We have lowered the companys score in this section to a C to reflect this consistency. We're Proud to Advance Cash to Business Owners Like You. The site is secure. This means that you cannot work with companies like PayPal or Square. 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. We have focused on merchant cash advances over two decades. Get clarity before you switch. I would recommend not to do business with this company. On November 30, 2021, the Debt Collection Rule became effective. Payment gateways offer an additional level of protection compared to virtual terminals by encrypting payment information before transmitting it to an acquiring bank. 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. In addition to those 2 complaints, the company has received 58 informal reviews. The sales rep is manipulative and they never disclosed a 400$ cancellation fee or an annual fee. The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely. services due to the high risk associated with debt collection businesses. Excellent provider for collection agencies with a strong eCommerce presence. Suggestion to get rid of them is to block them from your bank account, thats how they suggested getting out of a current contract! 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. They are beyond shady and dont care at all about customer service!!! This means that you can always stay on top of any transactions that you are making. TMS is a registered independent sales organization and member services provider (ISO/MSP) of Wells Fargo Bank, N.A., of Concord, California. Fake and Abusive Debt Collectors | Consumer Advice 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. They charged me $300 for what they called setup charges. 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. Help us to improve by providing some feedback on your experience today. A collection agency merchant account is classified as high risk for a number of reasons. MerchantBroker is a registered ISO/MSP of BMO Harris Bank, NA, Schaumburg, Illinois. Note: We have adjusted this companys BBB rating according to our own standards. This means that you could, effectively, lose your ability to run your business. You really leave your business account open to these guys with free access to do as they like. I am looking to upgrade 4 of my restaurants systems. A handful of debt collectors employ scare tactics such as calling debtors around the clock or harassing them in person for collections. Save money with Merchant Solutions low processing rates and free terminal program. Here are other additional benefits that you receive when you apply for an internet merchant account with eMerchant Authority. 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. This is according to the 2016 American Household Credit Card Debt Study by Nerd Wallet. They get you sign up with them for a minimum fees and after few months they hit you with 7% fees. Lina M. Khan was sworn in as Chair of the Federal Trade Commission on June 15, 2021. High-risk specialist for U.S.-based collection agencies. The sales rep never returned my calls and is no longer with thw company. Wehave not found any outstanding class-action lawsuits or FTC complaints filed against The Merchant Solutions. I agreed to pay back the money that was owned. The Merchant Solutions provides credit card, debit card, EBT, gift card, ATM, and check acceptance. Memo from Chair Lina M. Khan to commission staff and commissioners regarding the vision and priorities for the FTC. They said they had cancelled the account, but the following month we were charged again. eMerchantBroker.com. how much money you owe. Durango combats consumer-related fraud with anti-fraud protections such as Verified by Visa, Mastercard SecureCode, Fraud Scrubbing, and EMV 3d Secure 2.0. This Post Might Help: Cancelling a Merchant Account Without Paying a Fee. They use the guise that they are affiliated with Wells Fargo, but a call to Wells revealed that they never heard of TMS because Wells owns their own merchant company. Debt Collection Agency Merchant Services, Collection Agency Credit Card Has representatives that open fradulent accounts. Any unauthorized copying and reproduction of the content of this page, including all meta data and computer code, is strictly prohibited. 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. Neither of these 2 complaints was resolved by the company to the satisfaction of the merchant. 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. Credit cards are, relative to ACH/EFT payments, more prone to chargebacks. Early penalty for cancellation. I have never had any other merchant?! I will continue fighting for their dishonest practice.Do not fall for Merchant Solutions,they are a ripoff company and have a false advertisement for the free machine which on Amazon sells for $250.00.and they charge $1000.00!! For me customer support is key and Austin is definitely an asset to this company. 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. 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. BE AWARE!!! We were charged a $350 restocking fee after being told there would be NO FEES. When you ready to cancel their services they hit you with ridiculous restocking fee and cancellation fee. It is worth noting that being a high-risk company does not mean that your application for a merchant account will always be rejected. This field is for validation purposes and should be left unchanged. The companys rating is also impacted by its higher-than-average complaint total with the BBB. Over the years, we have built up connections with banks all over the world. We enforce federal competition and consumer protection laws that prevent anticompetitive, deceptive, and unfair business practices. Thats why weve broken down the basic features of the best merchant accounts for collection agencies and debt collectors. They constantly slip in unauthorized charges. It isnt just the finances of your business that they pay attention to either. I have tried to use card reader several times without success. Pure scam artists just looking to steal your hard earned money. We can help you to seamlessly integrate eMerchant Authority payment solutions into your business. Phantom debt collectors impersonate law firms | Consumer Advice Today they transferred $70 out of the bank account which now has been shut down over theyre crazy charges. Merchant Mavericks ratings are not influenced by affiliate partnerships. 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. 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. not explained. CFPB accused Encore Capital Group and Portfolio Recovery Associates Inc. of misleading and harassing consumers, which led . The overall household debt for an average family increased by 11% during the last 10 years. See Who The Worst Processors Are. Which Collection Agency Merchant Account Is Right For My Business? $35.00 Its like they try to rip you off once last time b4 they let you go. They will give you false information over the phone and then tell you their salesperson had no authorization to give it. Credit & Debt Collections Merchant Services - DigiPay Solutions A lot of other company with no contract and fees to work with out there. Both were resolved to the dissatisfaction of the merchant or received no final response. There is also $395 restocking fee, and $550 reprogram fee when you have to return their pin pad. 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. How Can Merchants Use Debt Collectors to Recover Chargebacks? We have located multiple The Merchant Solutions customer service numbers: (888) 707-2836 Toll-Free Customer Support/Sales You may be surprised to know that this is one of the top reasons why smaller companies end up having to shutter their doors. Example: If you have a sale that is then multiplied by the discount rate, and it comes out to 1.62222, you will pay them 1.63.

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