I left MerchantSolutions a number of months ago, even though it cost me remaining monthly fees until my contract expires. Its likely that Instabill offers terminals through a lease, which is nearly always more expensive than purchasing a terminal of your own in the long run. Customer service is horrible. the name of the creditor you owe it to. I asked him his name and he refused to give it to me, the only reason I know it was Kurt is because I called back and another rep told me. This means that the process is fast. With out so much as a single warning they withdrew ridiculously large amounts money from my amount, and were angered when I asked why. Check out our complete list of High-Risk Merchant Account Reviews for more traits that other top-performing high-risk specialists have in common. Very shady business practices and a very deceptive sales process. Merchant Mavericks ratings are not influenced by affiliate partnerships. This credit card processing company is HORRIBLE! MERCHANT SOLUTIONS GROUP OPENS DOORS Business owners need capital to grow and manage their companies. Therefore, if you plan on accepting ACH payments online, youll likely need a payment gateway. Save money with Merchant Solutions low processing rates and free terminal program. Ready to integrate payment processing solutions into your new business? Zero star rating, they are big time scam 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. 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. They said they had cancelled the account, but the following month we were charged again. the rep I spoke to became Irrate and told me he didnt appreciate me accusing him of charging bogus fees and he told me he was going to hang up on me. 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. This is a business that is rife with fraud and chargebacks. 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! You almost certainly will not be able to work with companies like PayPal. 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. The Merchant Solutions, founded in 1999, is a small merchant account provider based in Woodland Hills, California. The sales rep is manipulative and they never disclosed a 400$ cancellation fee or an annual fee. Seriously they will destroy your business. WOW, I wish there is a -star to rate this company, when i first started using my pos, it kept taking the money i received from my clients to a different bank account in a different state, and it took them 3 months to fix this and get my money back. Their customer service is terrible, they are never reachable. All they want is your money. Search the Legal Library instead. PCI Non-Cpmpliance. 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. Annual PCI Fee $99.00 These processors offer Quickbooks integration and have low rates. Credit Card Processing for Debt Collection Businesses 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). Its important to be able to connect with a real person on the phone. There are also several risk factors and legal issues that can complicate your decision when choosing the proper payment processor. $35.00 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. 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. for lack of use and Merchants want 490 dollars to terminate service. Recently contacted The Merchant Solutions about a fee they charged me on my merchant account. Moreover, EMB is rate A by Card Payment Options. Verify before you sign with this company. Payment Processing . if anyone do business with this scums be prepared to have a high blood pressure. 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. Beware, do not do business with merchant solutions. That said, Host Merchant Services exclusively interchange-plus pricing plans may be cost-prohibitive for low-ticket and very new agencies. In addition to its support for merchants who may be on the TMF or MATCH List, Durango also works to prevent chargebacks in the future with multiple reputable anti-fraud services. Austin Smith was very knowledgeable and helpful! I was very skeptical and was sure that the contract did not disclose a 3yr aggreement or termination fee. Certain payment gateways services support ACH payments and may be included as part of a payment processors list of basic services. Wehave not found any outstanding class-action lawsuits or FTC complaints filed against The Merchant Solutions. She said that I would need to submit an application in order to verify the discounts they were offering. We are running in the hole compared to the money we received through them from credit card transactions, and the money they have charged us for the service they provide. Sending Chargebacks to Debt Collection I was charged a cancellation fee for an account they had no authorization to open and then when I called to cancel they said they needed a signature. Essentially, they steal from the customer. I attempted to cancel my contract and they are trying to hit me with over $1000 in last min charges. Other companies may just outright decline your application. After saying, I DID NOT SIGN FOR, I DO NOT WANT, AND FURTHERMORE NEVER RECIEVED A TERMINAL FOR A TERMINAL ACCOUT I DID NOT OPEN, BUT I AM AND HAVE BEEN GETTING CHARGED FOR THE PAST 10 MONTHS.I am no closer to solving this problem. Getting paid to re-write this page? There is evidence that The Merchant Solutions utilizes independent sales agents in addition to online advertising to market its services. 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. From the beginning I was deceived,I was promised free terminal support and replacement, discounted terminal paper, and outstanding customer service all of which I never received. This means that our job is to reduce the risk of any transactions for the merchant bank. 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. How to tell the difference between a legitimate debt collector and Youll first need to navigate the logistics of processing different customer payment types with different pieces of hardware. When I explained to the representative that my business is not making any money she did not care, but wanted to know where to send the cancellation to withdraw the fee. Abdulali Mithani is the CEO and chairman of The Merchant Solutions, though LinkedIn also lists a Zahra Mithani as CEO and a Taufia Mithani as CEO and chairman. Teaming with IVR Technology Group, we also provide pay-by-phone voice . Consider the following points to more easily smooth over your application process for a collection agency merchant account: Business owners starting new collection agencies or even expanding existing ones need merchant account providers that minimize the stresses that come with the debt collection industry, not exacerbate them. What Debt Collectors & Collection Agencies Need To Know About Payment Processing, 6 Tips For Getting Your Collection Agency Merchant Services Approved. As you're checking out a debt collection call, remember: don't respond to threats. If so, you may be a victim of United Merchant Asset Recovery debt collection harassment. To the companys credit, the website for TMS does not appear to engage in any deceptive marketing tactics. The market research firm IBIS World reports that the debt collection industry represented a $13 billion market in the US as of May 2013. There is PayPal and Square, why would me, a small tiny business ever agree to such a thing I wouldnt. This form is for feedback only. Address: Recovery Solutions Group. If you have already signed up with them, get out fast. Copyright 2020 eMerchant Authority | Website by JM Marketing. 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. You could tell a collector to send a validation notice. Suite 209 Min. Pure scam artists just looking to steal your hard earned money. Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services. Agree with our rating?Tell us about your experience with The Merchant Solutions in the comment section below. They will rip u off and their owner Taufiq trains his employees to lie, steal, cheat and deceive their customers who are trying to run an honest businesd. This is why when you partner with us you also enjoy transparent pricing with no long-term contracts or hidden fees. Kim, this just happened to me and I wanted to see if you had any outcome in your situation. After youve signed up, you than learn there are more charges and feel which they will auto-deduct from your merchant account without notification. 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. 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. 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. Collection agencies need a stable merchant account to let their customers pay off past-due debts with a credit card or e-check. 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. These are charged beyond any percent fees. The Merchant Solutions is a fraud, it is an unprofessional, unethical company simple looking to scam anyone who falls for their lies. Before sharing sensitive information, make sure youre on a federal government site. Early penalty for cancellation. Sequoia is located in the Agoura Gateway at: Agoura Hills, CA 91301. I didnt fill out anything to open OR close the account and today was hit with $495 fee. 53 of these reviews are positive, while the remaining 5 reviews are negative.