844-868-8436, 877-664-9642, 877-599-2008, 407-544-3632, 814-351-0205, 888-667-0533, 844-378-7772, 386-478-4129, 850-391-2427. This means that you will be out of business. No mention of 3 year contract and no proof of it. 844-66-CFGMS (844-662-3467) The chargeback will be made against their account. Min. I had signed up with them thinking they can offer me the lowest rates with a price beat guarantee. The Merchant Solutions rates as an average merchant services provider across the board according to our rating system. 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%. 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. Sequoia Financial Services - 2021 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. Not much, but still more than disclosed. Remember; if you do not take the time to find a merchant account designed for high-risk businesses like yours, your company could lose its ability to process transactions overnight. They need to see whether you have run into any issues previously, particularly when it comes to chargebacks. Suggestion to get rid of them is to block them from your bank account, thats how they suggested getting out of a current contract! Upon cancellation after over 4 years I returned the machine in good order. Your Merchant Cash Advances help commercial businesses succeed. The .gov means its official. Get clarity before you switch. Suggest you consider that Paymentech and many others do not charge this. Credit card processing for debt collection agencies The company never disclosed high fees , fees for not taking a test, and excessive closing fees. I got a shock when they deducted total of $1000.00 from my account in 4 payments. In some cases, this leads to merchants contracting with debt collection agencies. An official website of the United States government. When you choose us, youre not just getting back your assets. 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. To support this enormous responsibility we earn some of our revenue through affiliate fees and advertising. The Merchant Solutions commits serious unethical and possibly illegal business practices, and you can see their legacy of fraud at RipOff Report.com or the BBB for Woodland Hills California, or on Yelp.com. Seriously they will destroy your business. There is PayPal and Square, why would me, a small tiny business ever agree to such a thing I wouldnt. Sending Chargebacks to Debt Collection As you're checking out a debt collection call, remember: don't respond to threats. Pam called me offering a competitive rate for credit card processing. they are liars, I just got ripped off $695 from early determination fee and my contract is do in two months thats why they did it i im sooo pisss right now i wish one of them will go to my business again to offer anything ?????? service provider that has expertise in high-risk merchant A business that accepts credit cards for goods or services. 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. I had joined Merchant Solutions because they told me there is no contract and no charge for the machine. These processors offer Quickbooks integration and have low rates. Unfortunately, some credit card processors who offer such services will add unnecessary fees, while others will have vague contract clauses for their high-risk clients. Learn how to resolve this complaint. The author and publisher shall in no event be held liable to any party for any direct, indirect, punitive, special, incidental or other consequential damages arising directly or indirectly from any use of this material, which is provided as is, and without warranties. Required fields are marked *. Essentially, they steal from the customer. This form is for feedback only. 1008 Mattlind Way. I was very skeptical and was sure that the contract did not disclose a 3yr aggreement or termination fee. PaymentCloud provides users with advice on choosing a chargeback management service and fraud mitigation service. Forgotten Password? What Consumers Should Do When Fake Debt Collection Scammers Call. Keep up the excellent work Austin and thank for helping us through out the entire setup process. The second your merchant account closes down is the second that you are no longer able to accept payments for your company. Advertiser Disclosure: Our unbiased reviews and content are supported in part by. They terminated my account for non use since I was using another company and had not transferred over yet. Square is a top choice for POS for any type of business. Its like they try to rip you off once last time b4 they let you go. These people called me for weeks and sent me all kinds of sales materials when my business started. With EMB, you can enjoy chargeback management tools, payment gateways, and fraud filters. They are awful and very dishonest do not use them. What are debt settlement/debt relief services and should I use them? Going to BBB and will get attorney if I have to. Although users may request an interchange-plus pricing plan, PayKings non-transparent pricing and early termination fees can actually work against up-and-coming collection agencies that may not have a consistent stream of revenue. The Best Merchant Accounts For Collection Agencies & Debt Collectors. 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. 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. When he isn't writing about IT solutions and innovations that help his clients, he's probably sitting behind a drumkit or adding new hardware to his computer. Do not believe anything they say about their service. Why would we want a service we couldnt use? You could tell a collector to send a validation notice. 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. Since 2017, Noah has worked for federal, state, and commercial clients as a proposal writer, technical writer, copywriter, and analyst. John in Customer Service was wonderful today with assisting me with the set up for my new Walker Bluetooth. Some of these limitations can be pretty tough on a business, particularly in their early days. Save yourself stress and aggravation and sign up with a different processor. Then to my horror these con-artists actually refused to close my account and continue to send me monthly bills to this day. 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. Durango combats consumer-related fraud with anti-fraud protections such as Verified by Visa, Mastercard SecureCode, Fraud Scrubbing, and EMV 3d Secure 2.0. 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. Phantom debt collectors impersonate law firms | Consumer Advice 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. A lot of other company with no contract and fees to work with out there. Owe CFG Merchant Solutions? Learn More Here - Tayne Law Group Such a vendor can be a great help for your debt collector business. Kim, this just happened to me and I wanted to see if you had any outcome in your situation. The worst company to do business with ever!!!! I wish I would have read some reviews before I sign up with these con artists. THIS WAS A TOTAL LIE. The Merchant Solutions fees and terms are average for the industry, so we have given TMS a C in this section. Ideal for collection agencies with a history of excessive chargebacks. They Are Not truthful about their service. If you want to pay unregulated fees like a $9.99 a month regulatory fee and a $6.95 monthly data insurance fee and a $150.oo yearly anuall PCI FEE this is the processor for you.. We have located one complaint online claiming that TMS is a reseller of Global Payments contracts, but we were unable to verify this claim as of this update. They refuse to refund the money. We work to advance government policies that protect consumers and promote competition. 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. 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 set up a payment arrangement . I should have closed my bank account the minute we closed our business so I could have avoided all of this. Sign up today and get a free card reader! 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. The salesperson on the phone neglect to inform me of a cancellation service fee of $900.49 In addition to those 2 complaints, the company has received 58 informal reviews. Independent sales agents are often paid by commission and are therefore motivated to sign merchants to the most expensive contract terms they can. I signed up with another company, Triumph Merchant Solutions NOT this company yet this company has illegally debited my account without authorization. Help us to improve by providing some feedback on your experience today. He was patient and knowledgeable and I am more than pleased with the assistance I receive from the Merchant Solutions. eMerchant Authority is a registered ISO of Woodforest National Bank, Houston, TX Member FDIC. Address: Recovery Solutions Group. This has Been the worst POS processing company I have ever felt with. We occasionally send out emails with special offers. The rule clarifies how debt collectors can communicate with you, including what information they're required to provide you. 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. 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. Since debt collection merchants are considered high risk, traditional banks and other financial institutions usually try to stay away from this type of businesses. Host Merchant Services is an ideal payment processor for new agencies operating in the debt collection industry. Search the Legal Library instead. Just yesterday, The Merchant Solutions sent me a new bill for $114 just for February account administration fees alone, even though I returned their machine in mid January and directed them to close my account immediately in January. This company needs to be put out of business. Opinions expressed here are authors alone. It only makes sense then that the best collection agency merchant account providers offer processing options for multiple payment types and a reliable system to fight chargebacks and fraud. How Can Merchants Use Debt Collectors to Recover Chargebacks? No doubt necessary to achieve any success, as the sales person was barely literate. Some merchant account providers may offer high fees. Dont believe anything their salesman tells you on the phone as they will lie to you endlessly and then screw you later. Still interested? Before You Switch Processors, Find Out How Other Businesses Got Fee Refunds From Their Current Processor. This company should not be allowed to do business. This means that you can always stay on top of any transactions that you are making. We have focused on merchant cash advances over two decades. Disclaimer: Merchant Maverick aims to provide accurate and up-to-date information to assist you in your research. 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. Dont give them, or their mother company, First Data, your business!!! If you would like to interview Phillip for your story or podcast, please reach out here.
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