Telephone: (818) 409-6000. Business owners starting a collection agency need to thoroughly account for their startup costs and potential interruptions to future revenue due to customer chargebacks and instances of fraud. 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. 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. Horrible company. The salesperson on the phone neglect to inform me of a cancellation service fee of $900.49 This company is deceitful. They charge you all kinds of fees which your not told about. Problems logging in? Their disclosure pricing on cancellation of service was not mentioned to me when I was docusigning the paperwork via Internet. Call 1-888-288-2692. Debt Collections Merchant Account Solutions - eMerchant Authority The company never disclosed high fees , fees for not taking a test, and excessive closing fees. They are awful and very dishonest do not use them. Tayne Law Group is a New York-based debt resolution law firm that helps small business owners resolve debts of all sizes. Bitty advance immediately escalated my debts to Recovery Solutions Group and they have been harassing me ever since. VERY RUDE AND UNPROFESSIONAL.THEY ARE TRYING TO BLIND SIDE THEIR CUSTOMERS AND ROB THEM OF THEIR MONEY. On the downside, Durango doesnt disclose its pricing plans to the public on its website, which can be frustrating. 180 Maiden Lane, 15th Floor. JUST SAY NO. PaymentCloud helps merchants navigate the necessary steps to become PCI-compliant within 90 days and without charging a PCI compliance fee. Phone number: (302) 241-0686. Get Your Quote. Search the Legal Library instead. They have fees for everything when you cancel or have to end your contract early. Zero star rating, they are big time scam PCI Non-Cpmpliance. Very shady business practices and a very deceptive sales process. This is why we want to help you get the right debt collection merchant account from the very start. Agree with our rating?Tell us about your experience with The Merchant Solutions in the comment section below. Which Business Bank Account is Right For You? The sales rep promised that I had nothing to lose and that I can try it for 30 days and can cancel without any penalties. Pure scam artists just looking to steal your hard earned money. Help with PCI compliance is a godsend for businesses that operate in the highly regulated collections industry. You may be surprised to know that this is one of the top reasons why smaller companies end up having to shutter their doors. 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. They are charging me a huge fee to cancel. They are very rude and they will not correct the problem with me even though they said they would. Were never worried about our overdue receivables. said no business ever. The overall household debt for an average family increased by 11% . The risks related to your business will be assessed by underwriters. Debt collectors that are trained properly cannot act in a false or misleading manner in an effort to get you to pay. Maintaining these ratios is challenging for merchants in many industries. The following is a sample list of complaints filed against United Merchant . What Debt Collectors & Collection Agencies Need To Know About Payment Processing, 6 Tips For Getting Your Collection Agency Merchant Services Approved. Recovery Solutions Group, LLC (RSG) Contact Information. Find legal resources and guidance to understand your business responsibilities and comply with the law. reporting it to the relevant supervisory organizations, top-rated payment processors for customer service, Cancelling a Merchant Account Without Paying a Fee, How to Get Out of a Merchant Account Contract, How to Make Your Payment Processor Release Your Money, Cancelling a Merchant Account Contract Without Paying a Fee. Instead, it appears merchants must contact the company directly to learn more about the exact terms of this promotion. 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. Also, youll be required to submit the following: Your collection agency must be legal when your applications are being reviewed by processors and underwriters. if anyone do business with this scums be prepared to have a high blood pressure. When you ready to cancel their services they hit you with ridiculous restocking fee and cancellation fee. 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. 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. So then I cancelled and they charged me a $945 restocking reprogramming fee? Payment Processing . These gateways may also support online portals through which users must enter before they can submit their payments online. Memo from Chair Lina M. Khan to commission staff and commissioners regarding the vision and priorities for the FTC. I was to have 1 account with Merchant Solutions ! Some merchant account providers may offer high fees. Copyright 2023 eMerchantBroker, LLC. They really do not want to do this. How to tell the difference between a legitimate debt collector and Milford, DE 19963. Copyright CardPaymentOptions.com, Inc. (Digital Fingerprint: 0d38c6720f0d78a701b74d58653af608). This is an attempt to collect a debt and any . A powerful, two-screen point of sale (POS) system that allows merchants to run their business . These revenues in no way influence our ratings or reviews. Fast turnaround: as little as 1-2 days. Ideal for collection agencies with a history of excessive chargebacks. No doubt necessary to achieve any success, as the sales person was barely literate. In addition to those 2 complaints, the company has received 58 informal reviews. They dont deserve a BBB rating they suck!!!! Instead, you need to search for high-risk merchant accounts. 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. I will NEVER consider using them again. Working with a debt settlement company may lead to a creditor filing a debt collection lawsuit against you. All Rights Reserved. I am still trying to get that back. Home; Services Healthcare Services; Consumer Business Collections . Upon cancellation after over 4 years I returned the machine in good order. Best Merchant Accounts for Debt Collection Agencies So, its no surprise that banks often deny them merchant accounts. As a debt collecting agency, opening a debt collection merchant account is the best thing you can do to improve your business cash flow and offer more payment options to your customers. 53 of these reviews are positive, while the remaining 5 reviews are negative. Merchant Solutions retail credit card processing solutions allow merchants to offer flexible methods of payments at the point-of-sale, including major credit cards, debit cards and checks. 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. If anyone has a better option please let me know. The merchant service provider should also be transparent about the requirements of working with your business and the circumstances under which they would terminate the contract. This company was nothing but deceitful from the beginning. Flexible and transparent pricing suits high- and low-ticket agencies. Calls from United Merchant Asset Recovery? - Consumer Law Firm Center Nasty contract . eMerchant Authority prides itself in being a leader when it comes to the provision of merchant account solutions. Since these banks know and trust the quality of our services, they will be able to trust you too. 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. 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 should not be allowed to do business. Certain payment gateways services support ACH payments and may be included as part of a payment processors list of basic services. they hurt me by taking un authorized money out of my account This has Been the worst POS processing company I have ever felt with. Please refer to our Advertising Disclosure to learn more about how we earn compensation from affiliate partnerships and how we maintain our independent editorial integrity. Get the truth here. BBB received a pattern of complaints concerning collections practices. Not an existing MeS Virtual Terminal User? This means that you cannot work with companies like PayPal or Square. To the companys credit, the website for TMS does not appear to engage in any deceptive marketing tactics. These merchant account providers offer high-risk businesses like collection agencies a square deal when it comes to payment processing. If you need help with rate and fee negotiations, payment integrations, cost optimization, or provider selection, schedule a consultation here. It took me 2 weeks of calling NON-STOP to get any response. Ready to integrate payment processing solutions into your new business? The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely. It isnt just the finances of your business that they pay attention to either. Anybody have any suggestions for getting out of this company? Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations. I DO RECOMMEND THAT YOU DO NOT ATTEMPT TO USE THEIR SERVICES!! Both were resolved to the dissatisfaction of the merchant or received no final response. Durango combats consumer-related fraud with anti-fraud protections such as Verified by Visa, Mastercard SecureCode, Fraud Scrubbing, and EMV 3d Secure 2.0. STAY AWAY. No mention of 3 year contract and no proof of it. Learn more about dealing with debt collection at ftc.gov/debt. Therefore, if you plan on accepting ACH payments online, youll likely need a payment gateway. Merchant Cash Advance in Collections: What to Do They need to see how strong your profits are. The second your merchant account closes down is the second that you are no longer able to accept payments for your company. I am looking to upgrade 4 of my restaurants systems. Many other high-risk merchants are notorious for offering card readers and monthly gateway fees, but Durango helps new collection agencies set themselves up for affordable success by making its hardware directly for sale online. Youll first need to navigate the logistics of processing different customer payment types with different pieces of hardware. They round up everything, even when they shouldnt according to elementary mathematics! They stealing $1000.00 dollars from my account. I tried to cancel but they said when I signed up it would automatically renew for two years and I could not cancel for another year. They Rip you off way more than wat they told you they would charged. 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. one year. The chargeback will be made against their account. When I wanted to cancel they wouldnt send me the cancellation form for weeks. He was patient and knowledgeable and I am more than pleased with the assistance I receive from the Merchant Solutions. Your business cannot opt for a standard merchant account here. That said, Host Merchant Services exclusively interchange-plus pricing plans may be cost-prohibitive for low-ticket and very new agencies. We occasionally send out emails with special offers. Try PaymentCloud. 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. Run, dont Walk, from the Hustler Con Artists at The Merchant Solutions. We're Proud to Advance Cash to Business Owners Like You. The .gov means its official. Then to my horror these con-artists actually refused to close my account and continue to send me monthly bills to this day. 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. The Merchant Solutions homepage previously advertised a $1,000 Savings Guarantee, stating If we cant save you money on processing, well give you $1,000! She also helped us to file our annual PCI compliance saving us about $40 per month. Soar offers an automated application process online that takes minutes to complete and provides merchants with a quote after the fact. Copyright 2020 eMerchant Authority | Website by JM Marketing. eMerchant Authority operates an in-house underwriting team. We work to advance government policies that protect consumers and promote competition. These people called me for weeks and sent me all kinds of sales materials when my business started. In addition, they told us the transaction fee would be 2.65% of each purchase. Get your cash flowing again with our Merchant Cash Advance debt recovery solutions. Sending Chargebacks to Debt Collection Opens accounts with terms not agreed to. FTC Staff. You almost certainly will not be able to work with companies like PayPal. My company is a small business that processes $200000.00 a year with this processor,,I have the right to question a fee But KURT didnt think so.I have contacted MS on other occasions and received less than favorable customer service. Credit Card Processing for Debt Collection Businesses It is worth noting that being a high-risk company does not mean that your application for a merchant account will always be rejected. Amazing! Los Angeles Debt Collection - Credit Consulting Services Shortly after receiving the product we received an email notifying of the $2.50 monthly fee AND .5 per transaction fee on top of the 2.65%. DONT BELIEVE IN ANYTHING THEY SAY ALL LIES AND FRAUD!!! The Merchant Solutions offers a variety of e-commerce services, Audit Your Current Statement To Find Its Hidden Fees. Fortunately, there are providers willing and able to help. Their hidden fees are through the roof. Merchants can get more competitive contract pricing by instead going with a cheap merchant account provider. Disclaimer: Merchant Maverick aims to provide accurate and up-to-date information to assist you in your research. Once the application process starts, we will find the best merchant account for you. Phillip Parker is an independent digital payment consultant specializing U.S. and Canadian point-of-sale, ecommerce, and mobile payment acceptance. You want a merchant account provider who has the experience and more so one with experience working with high-risk industries like yours. Lending and Debt Repayment Merchant Accounts. When an account like a credit card, auto loan, or cell phone bill becomes past due, the original creditor may attempt to collect the amount owed.