merchant solutions group debt collection
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. Sequoia is located in the Agoura Gateway at: Agoura Hills, CA 91301. Payment Processing . 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. Their charges are exhorbitant. To support this enormous responsibility we earn some of our revenue through affiliate fees and advertising. This means that our job is to reduce the risk of any transactions for the merchant bank. The Merchant Solutions fees and terms are average for the industry, so we have given TMS a C in this section. The chargeback will be made against their account. The following is a sample list of complaints filed against United Merchant . Debt collection businesses should partner with a merchant A business that accepts credit cards for goods or services. This company should not be allowed to do business. Get the truth here. After i cancle my account they charged me 200$ come out of no where. They have terrible reviews on google and many many complains on BBB. In the podcast below, Phillip explains how credit card processing and credit card fraud affects business owners. All they do is to get you sign up the contract, but be sure to read the fine print on auto renew, they will auto renew you into another contract even their machine never works. So, its no surprise that banks often deny them merchant accounts. We have focused on merchant cash advances over two decades. It's a cut throat industry. 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. If so, you may be a victim of United Merchant Asset Recovery debt collection harassment. They stealing $1000.00 dollars from my account. Such a vendor can be a great help for your debt collector business. Provider of affordable payment processing hardware that can streamline various debt collection operations. They Are Not truthful about their service. Call us now on 877-700-5790 for further assistance. Try PaymentCloud. According to The Merchant Solutions complaints filed on this site and elsewhere, TMS appears to offer a standard contract of three years with automatic renewal, an annual fee of $79, a PCI compliance fee of $99, and an early termination fee of $395 or more. What Debt Collectors & Collection Agencies Need To Know About Payment Processing, 6 Tips For Getting Your Collection Agency Merchant Services Approved. Keep your money you work for and dont use them. 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. 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. Debt Collection Merchant Services - Merchant Card Advisors Square is a top choice for POS for any type of business. By keeping the risk of chargebacks and fraud to the absolute minimum, your business can benefit. Over the years, we have built up connections with banks all over the world. 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. When I wanted to cancel they wouldnt send me the cancellation form for weeks. The worst company to do business with ever!!!! 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. Were dedicated to B2B debt recovery. Zero star rating, they are big time scam Before You Switch Processors, Find Out How Other Businesses Got Fee Refunds From Their Current Processor. BEWARE OF THESE DOGS! This means that you will be out of business. This company hires predatory sales people, arent up front about fees and raped my bank account. PayKings comes with exclusively tiered pricing plans and only applies lower processing rates to certain qualifying transactions. They round up everything, even when they shouldnt according to elementary mathematics! Learn how to resolve this complaint. Businesses need cash: Restaurants, Bars & Hotels Automotive Salons & Day Spas Doctors, Dentists & Vets Franchises & more Copyright 2023 Merchant Maverick. Better look for alternatives. From The Editor I was told by a company Rep, Ray Siddique, that there will not be any hidden fees or cancellation fees ever, and they will offer the best lowest deal. Merchants Solution Group | Better Business Bureau Profile With out so much as a single warning they withdrew ridiculously large amounts money from my amount, and were angered when I asked why. These actions contribute to a negative public perception of the industry and demonstrate to some banks offering merchant accounts that the businesses in the collections industry are high-risk. 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. The Fair Debt Collection Practices Act expressly prohibits debt collector conduct meant to "harass, oppress or abuse" you to collect on a debt regardless of whether you owe the debt or. Besides, we understand just how financially difficult it is to become a business owner. Product & company names, logos, and trademarks referred to on this site belong to their respective owners. Instabill offers credit card terminals albeit with little information concerning specific terminal models or features on its website. Help with PCI compliance is a godsend for businesses that operate in the highly regulated collections industry. See Who The Worst Processors Are. Their customer service is simple horrible. Search the Legal Library instead. Its just a penalty fee that they add on you for leaving their company. I was very skeptical and was sure that the contract did not disclose a 3yr aggreement or termination fee. Learn more about the new debt collection rule. He is very knowledgeable and provided excellent support. In addition to its storefront payment processing services, The Merchant Solutions also dedicates a portion of its website to advertising its virtual terminalandpayment gateway services. Very rude on phone, does not care about you as a customer. 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. This is an attempt to collect a debt and any . I left MerchantSolutions a number of months ago, even though it cost me remaining monthly fees until my contract expires. 53 of these reviews are positive, while the remaining 5 reviews are negative. This is why when you partner with us you also enjoy transparent pricing with no long-term contracts or hidden fees. These people called me for weeks and sent me all kinds of sales materials when my business started. They would take their sweet time to deposit my earnings but would immediately make unauthorized withdraws, even after my account had been closed. I have never had any other merchant?! This does not compare favorably to our list of best credit card processors. 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. I didnt fill out anything to open OR close the account and today was hit with $495 fee. Opinions expressed here are authors alone. What out business owners out there about this Merchant Solutions. PayKings, although a high-risk specialist, ironically exacerbates issues with reliable streams of revenue that are common to the debt collection industry. You can get your approval in as little as 24 hours. Telephone: (818) 409-6000. Help us to improve by providing some feedback on your experience today. The rule clarifies how debt collectors can communicate with you, including what information they're required to provide you. 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. 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. 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. I wish I would have read some reviews before I sign up with these con artists. The collector has to tell you four pieces of information. 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. 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. This means that your business will be making a lot more profit for each transaction. 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. they charged me $450 every month out of total 10k annual monthly. The competition is real with so many POS servicing company. I called to complain upper management said theres nothing they can do I sign the contract Im the one going to get screwed complete scam scam scam! Higher cost than explained in solicitations Merchant Solutions is a very dishonest processor. They refuse to refund the money. Merchant Solutions Group - Merchant Cash Advance | Working Capital Teaming with IVR Technology Group, we also provide pay-by-phone voice . Note: We have adjusted this companys BBB rating according to our own standards. We can help your collection agency even if you've you been turned down by service providers in the past. If you think the bill is not yours, you could call the Attorney General in Tennessee at 615-741-3491. Horrible company. 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. However, you need to hire a merchant debt collector account provider who offers merchant collection solutions that meet your companys needs. After I cancelled my account with them, they debited my account $50.00 to refurbish the terminal they provided free of charge. Seriously they will destroy your business. Excessive chargebacks are relatively common to the collections industry, so merchant account providers that service high-risk businesses like collection agencies should offer features such as payment gateways with fraud detection tools that minimize the long-term damage done by fraudulent chargebacks. Other companies may just outright decline your application. Monthly Processing RangeUnder $1,000$1,000 - $5,000$5,000 - $25,000$25,000 - $50,000$50,000 - $100,000Over $100,000. They said they are the cheapest one but they are not. You may be surprised to know that this is one of the top reasons why smaller companies end up having to shutter their doors. By working with eMerchant Authority, this is a problem that can be avoided. With EMB, you can enjoy chargeback management tools, payment gateways, and fraud filters. What are debt settlement/debt relief services and should I use them? The Merchant Solutions 2023: Reviews & Complaints - CardPaymentOptions.com SAVE YOURSELF THE HEADACHE! They said they had cancelled the account, but the following month we were charged again. It took me 2 weeks of calling NON-STOP to get any response. They are beyond shady and dont care at all about customer service!!! Stephanie T. Nguyen, Chief Technology Officer, Include spaces in matter number if applicable. Pure scam artists just looking to steal your hard earned money. 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. when you cancel.Please take your business elsewhere. I will report this matter to BBB about their sales / marketing strategy for omitting such cancellation fee info. 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. The sole purpose of the material presented herein is to alert, educate, and inform readers. Exclusive Promo: PaymentCloud will give you $200 if they can't beat your current rate. These companies and people are banned, by federal court orders, from participating in the business of debt collection. Licensed Debt Collectors As applicants are approved consumers can look up and verify our licensed servicers' telephone number, email address, and website information through the Nationwide Multistate Licensing System (NMLS) Consumer Access ( www.nmlsconsumeraccess.org ). The rating of this company or service is based on the authors expert opinion and analysis of the product, and assessed and seconded by another subject matter expert on staff before publication. Use our visualizations to explore scam and fraud trends in your state based on reports from consumers like you. not explained. Although Soars $495 early termination fee (for some accounts) may be steep, the termination fee is voided after the initial contract period.
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