Consider whether your agency is a relatively low- or high-volume operation, whether you function as an eCommerce or brick-and-mortar business, your chargeback history, and the pricing plans you prefer before you decide on a collection agency merchant account. 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. I work damn hard to run my business and I will be damned if they are going to steal money from me. I would not recommend TMS to my worst enemies. Credit card processing for debt collection agencies 53 of these reviews are positive, while the remaining 5 reviews are negative. The Merchant Solutions then hit me with a new $99 a year for a so-called PCI Compliance Program charge, a $35. Location & Ownership Their disclosure pricing on cancellation of service was not mentioned to me when I was docusigning the paperwork via Internet. Check out our complete list of High-Risk Merchant Account Reviews for more traits that other top-performing high-risk specialists have in common. Disclaimer: Merchant Maverick aims to provide accurate and up-to-date information to assist you in your research. 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. Provider of affordable payment processing hardware that can streamline various debt collection operations. We may earn revenue if you obtain services from a provider that we recommend. Teaming with IVR Technology Group, we also provide pay-by-phone voice . I am looking to upgrade 4 of my restaurants systems. She said that I would need to submit an application in order to verify the discounts they were offering. DO NOT use this company. RUN! 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. What Debt Collectors & Collection Agencies Need To Know About Payment Processing, 6 Tips For Getting Your Collection Agency Merchant Services Approved. 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. : 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. Weve been hit with so many fees that are hidden and that they deduct for no unknown reason as they do not tell you before hand. Its just a penalty fee that they add on you for leaving their company. Fast turnaround: as little as 1-2 days. Spot the latest COVID scams, get compliance guidance, and stay up to date on FTC actions during the pandemic. Save money with Merchant Solutions low processing rates and free terminal program. Not much, but still more than disclosed. Most merchant providers are reluctant to offer. Your Merchant Cash Advances help commercial businesses succeed. Horrible company. Are you with The Merchant Solutions? A handful of debt collectors employ scare tactics such as calling debtors around the clock or harassing them in person for collections. Needless to say, I immediately sent the keypad and tracking revealed they received it in 3 days. The sales rep never returned my calls and is no longer with thw company. Fortunately, there are providers willing and able to help. Amazing! DO NOT EVEN talk to their salespeople. This Post Might Help: Cancelling a Merchant Account Without Paying a Fee. He was patient and knowledgeable and I am more than pleased with the assistance I receive from the Merchant Solutions. This includes debt collection companies and debt buyers. He is very knowledgeable and provided excellent support. Ensure you understand the contract terms and all the costs involved with the credit card payments before you sign the contract. 651-398-1636. This means that our job is to reduce the risk of any transactions for the merchant bank. 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. This means that we can offer rates that are a little bit cheaper than most other high-risk merchant account providers. Get Your Quote. Note: We have adjusted this companys BBB rating according to our own standards. (800) 228-0210 Technical Support, The Merchant Solutions also offers a customer service email at [emailprotected]. We provide merchant account services for both low and high-risk businesses. He has also researched and published reviews about nearly every payment services provider and processor. Get Started With Durango Merchant Services. Merchants Solution Group | Better Business Bureau Profile Sequoia is located in the Agoura Gateway at: Agoura Hills, CA 91301. 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. this will happen if you change to another company. They refuse to refund the money. 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. See Who The Worst Processors Are. Processing statements are intentionally complicated so that they can overcharge you. This means that you will be out of business. In light of the companys complaint total and resolution ratio, we have adjusted the BBBs rating to a C for the purposes of this review. I would recommend not to do business with this company. It isnt just the finances of your business that they pay attention to either. Learn more about the new debt collection rule. As a debt collecting agency, opening a debt collection merchant account is the best thing you can do to improve your business cash flow and offer more payment options to your customers. Understand how the CFPB's Debt Collection Rule can help you. 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. With our underwriting services in place, you can enjoy a much greater success chance of obtaining a merchant account with one of these banks. the name of the creditor you owe it to. Which Business Bank Account is Right For 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. They actually added 19 pages to our contract virtually and said we signed them 1 1/2 years after signing the original. Durango combats consumer-related fraud with anti-fraud protections such as Verified by Visa, Mastercard SecureCode, Fraud Scrubbing, and EMV 3d Secure 2.0. if anyone do business with this scums be prepared to have a high blood pressure. 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. The Best Merchant Accounts For Collection Agencies & Debt Collectors. HORRIBLE ! I will NEVER consider using them again. I was very skeptical and was sure that the contract did not disclose a 3yr aggreement or termination fee. 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. i signed up a few weeks ago and havent been able to get into contact with them since. Were dedicated to B2B debt recovery. They really do not want to do this. The Merchant Solutions 2023: Reviews & Complaints - CardPaymentOptions.com 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. A powerful, two-screen point of sale (POS) system that allows merchants to run their business . Try PaymentCloud. Since 2017, Noah has worked for federal, state, and commercial clients as a proposal writer, technical writer, copywriter, and analyst. Pure scam artists just looking to steal your hard earned money. Excellent provider for collection agencies with a strong eCommerce presence. 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. 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. The chargeback will be made against their account. Ray Siddiqui of TMS told me if I return the keypad, he would refund the $500 and 2 months of fees at $35/month. That said, Host Merchant Services exclusively interchange-plus pricing plans may be cost-prohibitive for low-ticket and very new agencies. Home (425) 643-2613 (800) 755-1107. These are charged beyond any percent fees. This is Uncle Fried Chicken LLC, and The Merchant Solutions are scammers and dont follow their own contract rules. If youre interested in securing a virtual terminal that you can integrate with your businesss payment processing solutions, we recommend that you choose an online payment processor with systems to combat card-related consumer chargebacks that minimize interruptions to your revenue stream. Specialized account support for multiple collection agency types. The sales rep promised that I had nothing to lose and that I can try it for 30 days and can cancel without any penalties. 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. I have never had any other merchant?! When people stop paying, unpaid debts are sent to collection agencies These agencies go after debtors to recover the money for banks and creditors. Seeking to take them to court for their theft. When we both know its theirs! Debt Collection Merchant Accounts They have been lying to me since day 1 of signing up with them. With EMB, you can enjoy chargeback management tools, payment gateways, and fraud filters. The collector has to tell you four pieces of information. 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! 20+ Proven Bank Relationships Medium/High-Risk Accounts Fast Merchant Account Approval E-Commerce & Retail Options B2B Vendors Supported, Multiple E-Commerce GatewaysChargeback PreventionACH, E-Check, Credit CardsB2B Level 2/3 Data Discounts3D Secure Frictionless CheckoutMobile PaymentsEMV Readers, Gateway Recurring BillingVaultE-Commerce Cart PluginsPOS/TerminalsInternational Merchant AccountsDedicated Account Managers. John in Customer Service was wonderful today with assisting me with the set up for my new Walker Bluetooth. Monthly Fee $25.00 This means that your company can process debit and credit card transactions, and it will do this for an affordable price. Suite 209 When an account like a credit card, auto loan, or cell phone bill becomes past due, the original creditor may attempt to collect the amount owed.