Different benefits and drawbacks that come with high-risk merchant account providers make it particularly tricky for new agencies to find a merchant account thats the right match for them. We appreciate it. The path toward getting your collection agency off the ground is rife with hurdles that take the form of legal obligations, a complicated and sometimes bleak industry reputation, and the constant risk of interruption to your businesss revenue. DO NOT use this company. 844-66-CFGMS (844-662-3467) I signed up with another company, Triumph Merchant Solutions NOT this company yet this company has illegally debited my account without authorization. When banks determine a businesss risk status, they consider that businesss complete history of chargebacks. He has also researched and published reviews about nearly every payment services provider and processor. It isnt just the finances of your business that they pay attention to either. Fax: (818) 707-7070. 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. The Merchant Solutions provides credit card, debit card, EBT, gift card, ATM, and check acceptance. 651-398-1636. Fortunately, there are providers willing and able to help. Search the Legal Library instead. Merchant Card Advisors specializes in providing comprehensive merchant account services for high-risk businesses, including businesses in the debt collecting sector. If so, you may be a victim of United Merchant Asset Recovery debt collection harassment. The market research firm IBIS World reports that the debt collection industry represented a $13 billion market in the US as of May 2013. Find legal resources and guidance to understand your business responsibilities and comply with the law. Now illness has caused me to lose my merchant tax ID. Working with a debt settlement company may lead to a creditor filing a debt collection lawsuit against you. Get Started With Durango Merchant Services. However, you need to hire a merchant debt collector account provider who offers merchant collection solutions that meet your companys needs. We are not being charged an ADDITIONAL $159.90 (received bill in the mail) with no explanation of what the fee (s) is for. VERY RUDE AND UNPROFESSIONAL.THEY ARE TRYING TO BLIND SIDE THEIR CUSTOMERS AND ROB THEM OF THEIR MONEY. On the downside, Durango doesnt disclose its pricing plans to the public on its website, which can be frustrating. Debt Collection Agency Merchant Services, Collection Agency Credit Card Processing Collection Agency Merchant Account Solutions At Premier One Payments, we are the rare merchant account services provider that is ready and willing to work with collection agencies. They will tell you that there are no hidden fees and no extra charges. These revenues in no way influence our ratings or reviews. dont believe what they tell you These actions contribute to a negative public perception of the industry and demonstrate to some banks offering merchant accounts that the businesses in the collections industry are high-risk. Fraud protection should be high on the list of priorities for a debt collector of any size and type, and Durango is well-placed to handle instances of fraud that are common to the collections industry. 1008 Mattlind Way. Call 1-888-288-2692. I left MerchantSolutions a number of months ago, even though it cost me remaining monthly fees until my contract expires. 100$ fee come out of no where every month, and when i called them they said that 100$ fee only apprea once a year. However, these channels appear to fall short of the support levels offered by top-rated payment processors for customer service. Run, dont Walk, from the Hustler Con Artists at The Merchant Solutions. Before sharing sensitive information, make sure youre on a federal government site. In addition, they told us the transaction fee would be 2.65% of each purchase. He was patient and knowledgeable and I am more than pleased with the assistance I receive from the Merchant Solutions. 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). Virtual terminals let business owners access a secure web page to process their customer payments with a built-in dashboard thats similar to a physical card reader. CFG Merchant Solutions, LLC. Dont sign up or you will regret it at the end. Learn more about dealing with debt collection at ftc.gov/debt. And because I signed the document, the company is telling me, that I am liable for the contract. The Signature page of the second contract is an EXACT COPY of the account I did open. She also helped us to file our annual PCI compliance saving us about $40 per month. STAY AWAY. Dont believe anything their salesman tells you on the phone as they will lie to you endlessly and then screw you later. Were never worried about our overdue receivables. said no business ever. eMerchantBrokers strictly long-term contracts and expensive early termination penalties can significantly hinder the ability of a new collection agency to flourish, and the payment processors reputation for misleading sales gimmicks doesnt help matters much. $1350 fee if terminal is not returned within 10 days. YOU WILL BE SORRY! My request to talk to a supervisor and to review the contract I had supposely sign went unanswered. Worse company ever. 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. Additional rates and fees, including a technical support fee may apply. These customer chargebacks can make acquiring banks wary of approving merchant account applications from debt collectors. The company is headquartered at 22801 Ventura Boulevard Suite 300, Woodland Hills, California 91364. Fast turnaround: as little as 1-2 days. Looking for legal documents or records? They may require countless numbers of documents. 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 . This Post Might Help: Best Restaurant Merchant Accounts. As of right now, I have this company for falsifying documents, and felony forgery. The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. eMerchantBroker.com is a Los Angeles, California-based company that offers high risk e-commerce processing solutions including debt collection merchant accounts.The company's products include ACH processing, an online payment gateway, merchant cash advance, and a chargeback management system to help merchants dispute and resolve chargeback claims. RUN! If your business has been turned away and you need to process credit card payments, you can turn to a reputable merchant account provider like emerchantbroker.com. Ex. Customer service is horrible. 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. Understand how the CFPB's Debt Collection Rule can help you. This does not compare favorably to our list of best credit card processors. And it was my fault for not reading the fine print on the documents. Due to the unique processes we have in place, we can offer affordable rates for our services. Product & company names, logos, and trademarks referred to on this site belong to their respective owners. If you have not been clear about your business with the merchant account provider that you are working with, or your chargeback rate is high, then they. Learn more about the new debt collection rule. 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. It's a cut throat industry. Here Are The Processors Who Don't Hide Fees. I have been with them since 2015 and in June,2019 I decided to go to a different processor. Why Is Credit Card Processing For Collection Agencies Considered High Risk? Note that we are not able to provide private consultations, give advice, or answer questions. I got this straight but for the next several months they continued to charge me after 30 min of me wasting my time on the phone they refunded me, the next month charged me again. 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. What Is A POS System & Choosing The Best For Your Business, Discover The Best Business Credit Cards In 2023, Best Business Credit Cards For Your Nonprofit Organization, Explore Business Credit & Banking Resources, How Signing a Personal Gurantee Affects You. Also that free terminal will cost you $350 when you try to cancel the account. This field is for validation purposes and should be left unchanged. With a unique regulatory background and experience in high-risk industries, Flex Payment Solutions offers credit card processing that integrates simply with your system, full transparency on fees and 100% compliance. They will not return my phone calls now. How Can Merchants Use Debt Collectors to Recover Chargebacks? Austin Smith was very knowledgeable and helpful! But some payment processors may provide only limited support for brick-and-mortar payment processing or may only provide specific processing hardware on a lease. They are crooks. They need to know that if they are going to be offering you services that there is a strong chance that they will get their money back in the event of a chargeback. The sales rep is manipulative and they never disclosed a 400$ cancellation fee or an annual fee. With our underwriting services in place, you can enjoy a much greater success chance of obtaining a merchant account with one of these banks. Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. 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. To my surprise after trying them out I was told that I had signed a 3 yr contract with a $350 termination fee. As is the case with our other top choices for debt collection merchant account providers, Soar supports systems for chargeback management and fraud prevention that can make or break the long-term success of any type of collection agency. This company hires predatory sales people, arent up front about fees and raped my bank account. They are beyond shady and dont care at all about customer service!!! One The Merchant Solutions complaint mentions that TMS relies on Authorize.Net or PC Charge Pro for its online payment gateway; if this is the case, Authorize.nets payment gateway will be chargeda per-transaction fee of 2.90% plus $0.30 and a daily batch fee of $0.10 in addition to the $25 monthly gateway fee. 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. They round up everything, even when they shouldnt according to elementary mathematics! As a small business owner I was looking for a way to expand my business by being able to accept credit cards, so I may be able to open my door to new clientele.
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