merchant solutions group debt collection

We can help your collection agency even if you've you been turned down by service providers in the past. is the best thing you can do to improve your business cash flow and offer more payment options to your customers. Collection agencies that process mostly credit card payments should keep an eye out for merchant account providers that support virtual terminals. 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. 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. 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. It isnt just the finances of your business that they pay attention to either. All in all, the payment processors high-risk contract terms are reasonable even for lower-volume debt collectors. While the information in the above article is believed to be accurate as of its publish date, the author and publisher make no representation or warranties with respect to the accuracy, applicability, fitness, or completeness of the contents. $695 for early termination,$1500 programming fee, I have never hear of any company charging a programming fee. 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 ?????? If they cannot guarantee this, then you will likely not be offered a high-risk merchant account with that company. I didnt understand the fees so I called them and asked them to give me the run down of EVERYTHING on the fees page and was told just the requirements the gateway fee they said wasnt in the contract because its a regular thing with all processors. Thats why weve broken down the basic features of the best merchant accounts for collection agencies and debt collectors. THIS WAS A TOTAL LIE. This means that you will be out of business. I left MerchantSolutions a number of months ago, even though it cost me remaining monthly fees until my contract expires. After I cancelled my account with them, they debited my account $50.00 to refurbish the terminal they provided free of charge. 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%. Get Started With Durango Merchant Services. dont believe what they tell you As is the case with other industries that fall into the high-risk category, collection agencies operate in an unstable regulatory climate and unfortunately experience a higher risk of unreliable streams of income. When I wanted to cancel they wouldnt send me the cancellation form for weeks. They want me to pay almost $900.00 for equipment I dont use. Help with PCI compliance is a godsend for businesses that operate in the highly regulated collections industry. 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. At Monetaria, we understand that your MCA agreements are time-sensitive. The types of collections that different agents and agencies deal with, though, can vary widely. Copyright 2023 eMerchantBroker, LLC. Whether you're looking to save money on processing or to get approved for a merchant account, PaymentCloud can help. 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. Fraud protection should be high on the list of priorities for a debt collector of any size and type, and Durango is well-placed to handle instances of fraud that are common to the collections industry. If you have already signed up with them, get out fast. Fax: (818) 707-7070. Square is a top choice for POS for any type of business. They charge for any reason and they have a lot mistake they charge me before even i start with them for $28 and when i called them they said that was mistake they charge me $39 and $69 for annual fee and i just work with them a few days. 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). CFG Merchant Solutions, LLC. Over the years, we have built up connections with banks all over the world. This means that your company can process debit and credit card transactions, and it will do this for an affordable price. 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 overall household debt for an average family increased by 11% . They need to see whether you have run into any issues previously, particularly when it comes to chargebacks. On November 30, 2021, the Debt Collection Rule became effective. If you are in the debt collection business, then you may find it very difficult to obtain a merchant account. I was skeptical and decided not to switch to merchant solutions. $35.00 If that happens, then it will be the merchant account provider on the line. Here are other additional benefits that you receive when you apply for an internet merchant account with eMerchant Authority. To support this enormous responsibility we earn some of our revenue through affiliate fees and advertising. You may be charged fees for using this account. Were never worried about our overdue receivables. said no business ever. 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. All feedback, positive or negative, helps us to improve the way we help small businesses. I had joined Merchant Solutions because they told me there is no contract and no charge for the machine. I work damn hard to run my business and I will be damned if they are going to steal money from me. It is worth noting that being a high-risk company does not mean that your application for a merchant account will always be rejected. MCA is a premier full-service debt collection agency, providing successful debt management solutions with integrity since 1937. 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. Processing statements are intentionally complicated so that they can overcharge you. 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. CardPaymentOptions.com, Inc. All Rights Reserved. Therefore, if you plan on accepting ACH payments online, youll likely need a payment gateway. These are all fees that were started 8 months into my contract. I attempted to cancel my contract and they are trying to hit me with over $1000 in last min charges. Although Soars $495 early termination fee (for some accounts) may be steep, the termination fee is voided after the initial contract period. When I set up an account they told me there would be no contract if I used the mobile software and no fees just the $9.00 per month maintenance fee. Both were resolved to the dissatisfaction of the merchant or received no final response. Its website can be hard to use as well. We also encourage merchants to check out our list of the providers of the best merchant accounts. Square is a top choice for POS for any type of business. Call 1-888-288-2692. It took me 2 weeks of calling NON-STOP to get any response. Specifically, consumer complaint activity alleges this business claims to be a law firm attempting to collect on debts that. 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If so, you may be a victim of United Merchant Asset Recovery debt collection harassment. Phone number: (302) 241-0686. I hope there will be a class action lawsuit and I plan to be a part of it. We occasionally send out emails with special offers. We can also provide the tools that you need to generate financial reports for any money passing through your merchant account. Easier borrower qualifications that help you build business credit. 100$ fee come out of no where every month, and when i called them they said that 100$ fee only apprea once a year. Do not give them your business. The market research firm IBIS World reports that the debt collection industry represented a $13 billion market in the US as of May 2013. By working with eMerchant Authority, this is a problem that can be avoided. In Summary: 4 Best Merchant Accounts For Collection Agencies. Don't Fall Into An Expensive Trap. Certain payment gateways services support ACH payments and may be included as part of a payment processors list of basic services. this will happen if you change to another company. He has a BA in Creative Writing and a Minor in German from Goucher College. The job of the business, however, is to ensure that they have processes in place to keep this risk down to the absolute minimum. The majority of Americans use loans, credit cards, lines of credit to pay for their lifestyles. Neither of these 2 complaints was resolved by the company to the satisfaction of the merchant. 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.. I signed up with another company, Triumph Merchant Solutions NOT this company yet this company has illegally debited my account without authorization. Since I have tried to cancel with them and agreed to pay them whatever fee I can to get rid of them (which was not in my contract I signed), they are now telling me their equipment I returned is not theirs so that I cant cancel or Ill have to pay more than the equipment cost for losing it and again because I already paid for it! Specialized account support for multiple collection agency types. 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. This means that we can offer rates that are a little bit cheaper than most other high-risk merchant account providers. services due to the high risk associated with debt collection businesses. 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. Whether you are looking for a Full Services Provider, Second Look Vendor, or collection consultant, Sequoia's services are tailored to meet your needs. eMerchant Authority can help with this. The competition is real with so many POS servicing company. 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. TMS offers a dedicated support phone line and an email form on its website. I foolishly fell for the lies that were fed to me by one of The Merchant Solutions(TMS)sales representative. There is also $395 restocking fee, and $550 reprogram fee when you have to return their pin pad. 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 .

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merchant solutions group debt collection