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Merchants Credit Association, is a debt collection company. This post will help: Cancelling a Merchant Account Without Paying a Fee. This means that you could, effectively, lose your ability to run your business. These gateways may also support online portals through which users must enter before they can submit their payments online. If you stop using it, they still charge you a lot of fees. they charged me $450 every month out of total 10k annual monthly. Do not give them your business. Suggestion to get rid of them is to block them from your bank account, thats how they suggested getting out of a current contract! The Signature page of the second contract is an EXACT COPY of the account I did open. 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. DONT BELIEVE IN ANYTHING THEY SAY ALL LIES AND FRAUD!!! Better look for alternatives. Then to my horror these con-artists actually refused to close my account and continue to send me monthly bills to this day. The following is a sample list of complaints filed against United Merchant . They even familiarize you with techniques and systems that keep customers satisfied and less likely to initiate chargebacks. when you cancel.Please take your business elsewhere. Credit cards are, relative to ACH/EFT payments, more prone to chargebacks. Numerous times I informed her that we already had an account with a different company, and we were not ready to transition but would be happy to look at the numbers. Call 1-888-288-2692. Monthly Processing RangeUnder $1,000$1,000 - $5,000$5,000 - $25,000$25,000 - $50,000$50,000 - $100,000Over $100,000. Whether you're looking to save money on processing or to get approved for a merchant account, PaymentCloud can help. The Merchant Solutions is definitely THE worst credit card company EVER!!!! This is why we want to help you get the right debt collection merchant account from the very start. Moreover, EMB is rate A by Card Payment Options. the name of the creditor you owe it to. See Which Processors Offer No Monthly Fees And No Contracts. eMerchant Authority is a registered ISO of Woodforest National Bank, Houston, TX Member FDIC. There are also several risk factors and legal issues that can complicate your decision when choosing the proper payment processor. Also, youll be required to submit the following: Your collection agency must be legal when your applications are being reviewed by processors and underwriters. The debt collector refers to themselves as an investigator, or that they will contact the investigator on your case. I would have never ever sign up for such a service, if the salesperson would mentioned this info to me. This Post Might Help: Cancelling a Merchant Account Contract Without Paying a Fee. You really leave your business account open to these guys with free access to do as they like. Requirements: 600+ credit score, 12+ months in business and $100,000+ revenue. SAVE YOURSELF THE HEADACHE! When a customer disputes a transaction and gets a chargeback, the merchant is free to consider the reversed payment an outstanding debt and treat it as such. Debt collection abuses cause harms that financially vulnerable consumers can ill afford. They may even have maximum limits to any transactions that you complete. This has Been the worst POS processing company I have ever felt with. 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. Its a TOTAL SCAM! When you choose us, youre not just getting back your assets. This is Uncle Fried Chicken LLC, and The Merchant Solutions are scammers and dont follow their own contract rules. Let us know how well the content on this page solved your problem today. Learn more about dealing with debt collection at ftc.gov/debt. Were never worried about our overdue receivables. said no business ever. It's a cut throat industry. Telephone: (818) 409-6000. 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! To get a reliable and low-cost collection agency merchant account, you just need to turn to emerchantbroker.com. Credit Card Processing for Debt Collection Businesses EMB serves both traditional and high risk businesses, and has already helped thousands of hard-to-approve merchants to get the best for their business. Home (425) 643-2613 (800) 755-1107. The mobile POS solutions that Instabill offers can be relatively time-consuming to begin using as well since Instabill requires its users to create a separate account with its mobile processing partner, CardFlight, before they can accept mobile payments from multiple devices. Instead, you need to search for high-risk merchant accounts. They are charging me a huge fee to cancel. These processors offer Quickbooks integration and have low rates. They will tell you that there are no hidden fees and no extra charges. Recently contacted The Merchant Solutions about a fee they charged me on my merchant account. However, pricing is not disclosed on either of those services. Seattle Collection Agency | Merchants Credit Association 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. Under federal law, a debt collector must send you a written validation notice within five days after they first contact you. Their customer service is terrible, they are never reachable. The drawbacks that render PayKings a less-than-perfect merchant account provider are similar to the drawbacks that come with eMerchantBroker. PaymentCloud helps merchants navigate the necessary steps to become PCI-compliant within 90 days and without charging a PCI compliance fee. I agreed to pay back the money that was owned. Higher cost than explained in solicitations 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. This is according to the 2016 American Household Credit Card Debt Study by Nerd Wallet. FTC Staff. Before You Switch Processors, Find Out How Other Businesses Got Fee Refunds From Their Current Processor. Due to the unique processes we have in place, we can offer affordable rates for our services. The types of collections that different agents and agencies deal with, though, can vary widely. Noah is a writer and content creator currently living in Fairfax, VA. CardPaymentOptions.com, Inc. All Rights Reserved. Forgotten Password? Are you with The Merchant Solutions? It took me 2 weeks of calling NON-STOP to get any response. This means that our job is to reduce the risk of any transactions for the merchant bank. I foolishly fell for the lies that were fed to me by one of The Merchant Solutions(TMS)sales representative. Neither of these 2 complaints was resolved by the company to the satisfaction of the merchant. As a debt collection agency is a high risk merchant due to the increased chances of fraud or chargebacks, Merchant Processing Advisors can find merchant . Clover is the company's proven solution that makes it easy for small businesses to accept payments and run their day-to-day operations, from reporting and inventory to invoicing and e-commerce. Copyright CardPaymentOptions.com, Inc. (Digital Fingerprint: 0d38c6720f0d78a701b74d58653af608). If you are in the debt collection business, then you may find it very difficult to obtain a merchant account. I wish I would have read some reviews before I sign up with these con artists. Monthly Fee $25.00 Milford, DE 19963. Instead, Go with Square, go with Chase, go with Costco Elavon, go with Paypal, or any of a dozen other reputable credit card processing companies but please, dont make the same mistake i did Avoid The Merchant Solutions at all costs. Businesses need cash: Restaurants, Bars & Hotels Automotive Salons & Day Spas Doctors, Dentists & Vets Franchises & more Offers automated account application and custom quote processes. In the podcast below, Phillip explains how credit card processing and credit card fraud affects business owners. Now illness has caused me to lose my merchant tax ID. They said they had cancelled the account, but the following month we were charged again. They said they are the cheapest one but they are not. All feedback, positive or negative, helps us to improve the way we help small businesses. Our proven investigation tools help us create fast and effective debt recovery services. 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. I work damn hard to run my business and I will be damned if they are going to steal money from me. . Therefore, if you plan on accepting ACH payments online, youll likely need a payment gateway. Do not get trap by this company. So then I cancelled and they charged me a $945 restocking reprogramming fee? per month so-called PCI-DSS Validation Fee , a $19 per month so-called Data Breach Security Program fee, plus kilobyte fees: fixed network CP Fee etc I immediately packed up their credit card machine and shipped it back to them with a written demand to close my account immediately. In addition, they told us the transaction fee would be 2.65% of each purchase. Instabills main draw is its services to high-risk international merchants that process offshore payments, although its support for brick-and-mortar agencies that need on-site payment processing leaves something to be desired. MerchantBroker is a registered ISO/MSP of BMO Harris Bank, NA, Schaumburg, Illinois. We enforce federal competition and consumer protection laws that prevent anticompetitive, deceptive, and unfair business practices. They refuse to close the account saying they will charge me $495.00 early termination feefor an account that has been opened with a copy of the contract from my real account. When account underwriters are deciding the fees or terms for working with them, they will need to see the finances of your business. While the process for applying for a merchant account with us is not instant, we have been doing this a long time. eMerchant Authority specializes in merchant accounts for high-risk businesses; this includes debt collection agencies. On the downside, Durango doesnt disclose its pricing plans to the public on its website, which can be frustrating. is the best thing you can do to improve your business cash flow and offer more payment options to your customers. That means we spend every day sharpening our tools and providing the know-how to efficiently resolve delinquencies and liquidate accounts. If you are looking for a merchant account for your debt collection company, or you have any questions about the services that we provide, then please reach out to us today. They will not return my phone calls now. Which Collection Agency Merchant Account Is Right For My Business? I had joined Merchant Solutions because they told me there is no contract and no charge for the machine. A handful of debt collectors employ scare tactics such as calling debtors around the clock or harassing them in person for collections. Soar Payments is a great choice for high-risk debt collectors that are looking for a quick-yet-thorough underwriting process as well as customized quotes after their application phase. You may be surprised to know that this is one of the top reasons why smaller companies end up having to shutter their doors. Also even though I had cancelled in June, in July they also charged PCI compliance of $99.00 when I did not even process with them. Click here for more product information. 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. Your email address will not be published. I signed up with another company, Triumph Merchant Solutions NOT this company yet this company has illegally debited my account without authorization. Advertiser Disclosure: Our unbiased reviews and content are supported in part by. 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. Same situation. They are very rude and they will not correct the problem with me even though they said they would. Look out for credit card processors who offer other merchant solutions that could be useful for your business. It is just one of the many ways that MS has cost me money unnecessarily, including missed charges, delayed refunds, poor customer service and unnecessary payments. Your business cannot opt for a standard merchant account here. Merchant Services | Payment Processing Enterprise Solutions | Fiserv Over the years, we have built up connections with banks all over the world. If so, you may be a victim of United Merchant Asset Recovery debt collection harassment. The Merchant Solutions 2023: Reviews & Complaints - CardPaymentOptions.com PaymentClouds repertoire of POS solutions, card-present and card-not-present processing options, and focus on eCommerce makes it a great choice for both new and slightly more established debt collectors. This company is deceitful. Would recommend , Merchan Solution they are very professional , Ive been talking to Austin back and forth seems like I know him, anyway every question I did not understand about this machine he explain it very clearly to me, He was not Just a sales person he wants my business to succeed Thank you very much .Austin Smith, Merchant solutions are very professional. They constantly slip in unauthorized charges. they hurt me by taking un authorized money out of my account Pure scam artists just looking to steal your hard earned money. 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. Calls from United Merchant Asset Recovery? - Consumer Law Firm Center