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. These gateways may also support online portals through which users must enter before they can submit their payments online. The company is headquartered at 22801 Ventura Boulevard Suite 300, Woodland Hills, California 91364. Recovery Solutions Group, LLC (RSG) Contact Information. We have focused on merchant cash advances over two decades. High-risk specialist Durango Merchant Services ability to place accounts for merchants with histories of excessive chargebacks is invaluable to new collection agencies. The collections industry demands compliance with federal and state-level regulations, and payment processors should be able to facilitate easy compliance for debt collectors. Monthly Processing Range With out so much as a single warning they withdrew ridiculously large amounts money from my amount, and were angered when I asked why. She also helped us to file our annual PCI compliance saving us about $40 per month. 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. I would recommend not to do business with this company. If so, you may be a victim of United Merchant Asset Recovery debt collection harassment. Don't Fall Into An Expensive Trap. This means that you cannot work with companies like PayPal or Square. You may be surprised to know that this is one of the top reasons why smaller companies end up having to shutter their doors. 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. BBB received a pattern of complaints concerning collections practices. 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. 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. eMerchant Authority can help with this. Which Business Bank Account is Right For You? RUN! 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. If you have not been clear about your business with the merchant account provider that you are working with, or your chargeback rate is high, then they will close down your account. *Rates quoted as the % above normal card interchange costs, dues, fees, and assessments. You almost certainly will not be able to work with companies like PayPal. 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. 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. This credit card processing company is HORRIBLE! New York, NY 10038. this will happen if you change to another company. 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. 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Collection agencies that process mostly credit card payments should keep an eye out for merchant account providers that support virtual terminals. You really leave your business account open to these guys with free access to do as they like. All feedback, positive or negative, helps us to improve the way we help small businesses. The companys chargeback and fraud prevention assistance is a huge help to high-risk collection agencies and can go a long way toward making your customers more satisfied with your customer support systems and less likely to initiate chargebacks. We spoke with ANAIS today and were helped with understanding the rates. 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. service provider that has expertise in high-risk merchant A business that accepts credit cards for goods or services. When you ready to cancel their services they hit you with ridiculous restocking fee and cancellation fee. 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 take great pride in providing one of the only objective an unbiased merchant account review websites on the internet. The company has a higher-than-expected number of complaints for its apparently small size, and the contract terms that we have seen reported for this company arent especially competitive, especially when compared to the best overall credit card processors. PaymentCloud helps merchants navigate the necessary steps to become PCI-compliant within 90 days and without charging a PCI compliance fee. Agree with our rating?Tell us about your experience with The Merchant Solutions in the comment section below. I will NEVER consider using them again. Stay away from Themechantsolution!!! Seeking to take them to court for their theft. THIS WAS A TOTAL LIE. The Best Merchant Accounts For Collection Agencies & Debt Collectors. 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. 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). Not an existing MeS Virtual Terminal User? We have lowered the companys score in this section to a C to reflect this consistency. And because customer satisfaction is what we aim for, we offer ongoing support to all our customers. The overall household debt for an average family increased by 11% during the last 10 years. We are not being charged an ADDITIONAL $159.90 (received bill in the mail) with no explanation of what the fee (s) is for. Required fields are marked *. I have filed a complaint with the bbb and am probably going to get a attorney to get my money back. Payment gateways transmit data between an agencys point of transaction and the receiving payment processor. So, its no surprise that banks often deny them merchant accounts. They need to see whether you have run into any issues previously, particularly when it comes to chargebacks. This company, Merchant Solutions, is a fraud. We provide merchant account services for both low and high-risk businesses. PaymentCloud specializes in difficult-to-place merchant accounts for credit card processing. Lina M. Khan was sworn in as Chair of the Federal Trade Commission on June 15, 2021. Wondering what else to consider as a high-risk merchant that needs a reliable merchant account provider? They need to see how strong your profits are. They terminated my account for non use since I was using another company and had not transferred over yet. 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. Ensure you understand the contract terms and all the costs involved with the credit card payments before you sign the contract. one year. Comp Admin Fee $9.95 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. They changed my contract, billed me a ton more without giving me an opportunity to opt out. I got the notification in the mail 2 FULL DAYS AFTER they had billed me. MERCHANT SOLUTIONS GROUP OPENS DOORS Business owners need capital to grow and manage their companies. Verify before you sign with this company. We appreciate it. Customer service is a joke and they just gave me a run around, once even saying they would transfer the info to the analytical Dept while the rep was laughing. 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. not explained. Do not believe anything they say about their service. This means that you can always stay on top of any transactions that you are making. To support this enormous responsibility we earn some of our revenue through affiliate fees and advertising. And it was my fault for not reading the fine print on the documents. 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. And particularly so for debt collectors due to the consumer demographic of debtors. The company never disclosed high fees , fees for not taking a test, and excessive closing fees. To know the right provider, here are factors to consider when looking for a debt collection agency for your debt collection business. In Summary: 4 Best Merchant Accounts For Collection Agencies. 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. I was told thay my rates would be as low as 1.5%. Learn more about our monetization policies here. Copyright 2023 eMerchantBroker, LLC. A handful of debt collectors employ scare tactics such as calling debtors around the clock or harassing them in person for collections. Specifically, consumer complaint activity alleges this business claims to be a law firm attempting to collect on debts that. They may require countless numbers of documents. Copyright 2020 eMerchant Authority | Website by JM Marketing. I am still trying to get that back. 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. Telephone: (818) 409-6000. They charged me $300 for what they called setup charges. They will rip u off and their owner Taufiq trains his employees to lie, steal, cheat and deceive their customers who are trying to run an honest businesd. Any unauthorized copying and reproduction of the content of this page, including all meta data and computer code, is strictly prohibited. Instead, it appears merchants must contact the company directly to learn more about the exact terms of this promotion. Whats more, the debt collection industry is regulated by federal authorities including the FDCPA and CFPB, and is subject to legal requirements that vary on a state-by-state basis. They are thieves because they stole money from my account and wont make it right with me. 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. I had to close the account, due to poor sales results. They are beyond shady and dont care at all about customer service!!! The creditor may also hire a debt collector or sell the debt to someone who may try to collect the debt. If anyone has a better option please let me know. These businesses are associated with a higher rate of risks related to payment processing and a large volume of chargebacks. This means that you could, effectively, lose your ability to run your business. They have terrible reviews on google and many many complains on BBB. They never have any answers and are only looking for ways to disconnect you. Its just a penalty fee that they add on you for leaving their company. 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. Disclaimer: Merchant Maverick aims to provide accurate and up-to-date information to assist you in your research. An official website of the United States government. Over the years, we have built up connections with banks all over the world. Its likely that Instabill offers terminals through a lease, which is nearly always more expensive than purchasing a terminal of your own in the long run. Here are other additional benefits that you receive when you apply for an internet merchant account with eMerchant Authority. Federal government websites often end in .gov or .mil. 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. 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 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. Our services are secure and reliable. 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. Problems logging in? Help with PCI compliance is a godsend for businesses that operate in the highly regulated collections industry. 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. Working with a debt settlement company may lead to a creditor filing a debt collection lawsuit against you. eMerchantBroker can . 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.
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