Credit Consulting Services, Inc. is an accounts receivable management firm that provides solutions for reducing bad debt and improving overall cash flow for businesses in Los Angeles, California. The job of the business, however, is to ensure that they have processes in place to keep this risk down to the absolute minimum. Credit cards are, relative to ACH/EFT payments, more prone to chargebacks. 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. Copyright CardPaymentOptions.com, Inc. (Digital Fingerprint: 0d38c6720f0d78a701b74d58653af608). You can get your approval in as little as 24 hours. Moreover, EMB is rate A by Card Payment Options. The sales rep never returned my calls and is no longer with thw company. Then I began getting charged a PCI non compliant fee $40.00. When you ready to cancel their services they hit you with ridiculous restocking fee and cancellation fee. There is PayPal and Square, why would me, a small tiny business ever agree to such a thing I wouldnt. Dont give them, or their mother company, First Data, your business!!! This form is for feedback only. Some merchant account providers may offer high fees. This complaint total is somewhat high for a company as small as TMS, and it therefore merits a D grade in our opinion. Find the resources you need to understand how consumer protection law impacts your business. This Post Might Help: Cancelling a Merchant Account Without Paying a Fee. eMerchantBroker is a registered ISO/MSP of BMO Harris Bank, NA, Schaumburg, Illinois. 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.. They bill me $100.00 more for the first month & when I complained they told me they going to have a rate review and correct it, the second months they did the same, one week in the third months I stop using them for processing and then they threatening me with a $495.00 early termination fee that I cross in the application then I find out that Daniel A. forged my initial and change the page. Today they transferred $70 out of the bank account which now has been shut down over theyre crazy charges. 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. We also encourage merchants to check out our list of the providers of the best merchant accounts. Our 24/7 customer support team is always on call to answer your questions and attend to your needs. A recent negative review mentions poor sales techniques: Merchants that are worried about undesirable fees being added to their contracts should review which contract terms to avoid. Click here for more product information. Merchants Credit Association, is a debt collection company. BBB received a pattern of complaints concerning collections practices. This means that your company can process debit and credit card transactions, and it will do this for an affordable price. At Monetaria, we understand that your MCA agreements are time-sensitive. 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. This is according to the 2016 American Household Credit Card Debt Study by Nerd Wallet. There are a bit more than 9.000 businesses in the industry that employ over 150.000 people. So, its no surprise that banks often deny them merchant accounts. (800) 228-0210 Technical Support, The Merchant Solutions also offers a customer service email at [emailprotected]. A collector has to give you "validation information" about the debt, either during the collector's first phone call with you or in writing within five days after first contacting you. If you want to pay unregulated fees like a $9.99 a month regulatory fee and a $6.95 monthly data insurance fee and a $150.oo yearly anuall PCI FEE this is the processor for you.. This is very dishonest company with deceptive business practices. The Merchant Solutions also appears to resell the products of First Data (Fiserv). service to inform clients in a respectful and professional manner of the status of their account before it becomes bad debt. This means that your business will be making a lot more profit for each transaction. Today was the last straw which we really been shut down since April over covid19. PaymentCloud provides users with advice on choosing a chargeback management service and fraud mitigation service. There is evidence that The Merchant Solutions utilizes independent sales agents in addition to online advertising to market its services. 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. Several complainants outright accuse the company of being a ripoff or a scam operation. Its range of POS systems and card readers provide solutions for both card-present and card-not-present payment processing, which creates flexibility for various collection agency types. Not an existing MeS Virtual Terminal User? Sign up today and get a free card reader! With our underwriting services in place, you can enjoy a much greater success chance of obtaining a merchant account with one of these banks. Seriously they will destroy your business. They have terrible reviews on google and many many complains on BBB. Forgotten Password? While the process for applying for a merchant account with us is not instant, we have been doing this a long time. They have fees for everything when you cancel or have to end your contract early. PaymentCloud can help almost any business get approved for payment processing. This means that we can offer rates that are a little bit cheaper than most other high-risk merchant account providers. They use the guise that they are affiliated with Wells Fargo, but a call to Wells revealed that they never heard of TMS because Wells owns their own merchant company. With EMB, you can enjoy chargeback management tools, payment gateways, and fraud filters. Our services are secure and reliable. 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. My company is no longer doing business and I have not used the machine in 6 months. Essentially, they steal from the customer. John in Customer Service was wonderful today with assisting me with the set up for my new Walker Bluetooth. The majority of Americans use loans, credit cards, lines of credit to pay for their lifestyles. VERY RUDE AND UNPROFESSIONAL.THEY ARE TRYING TO BLIND SIDE THEIR CUSTOMERS AND ROB THEM OF THEIR MONEY. Run, dont Walk, from the Hustler Con Artists at The Merchant Solutions. Processing statements are intentionally complicated so that they can overcharge you. Your business cannot opt for a standard merchant account here. Its a TOTAL SCAM! Home Blog High-Risk Merchant Accounts The Best Merchant Accounts For Collection Agencies & Debt Collectors, Save money on credit card processing with one of our top 5 picks for 2022. When you should have paid 1.62. Disclaimer: Merchant Maverick aims to provide accurate and up-to-date information to assist you in your research. Telephone: (818) 409-6000. These gateways may also support online portals through which users must enter before they can submit their payments online. I paid $99 for $1000 and for another $1000 i paid $119 it means more than 10% Teaming with IVR Technology Group, we also provide pay-by-phone voice . processing as well as the collections industry, in order to support compliance and best practices adherence . Merchant Solutions is a very dishonest processor. I would recommend not to do business with this company. We enforce federal competition and consumer protection laws that prevent anticompetitive, deceptive, and unfair business practices. Get your cash flowing again with our Merchant Cash Advance debt recovery solutions. 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. They would take their sweet time to deposit my earnings but would immediately make unauthorized withdraws, even after my account had been closed. 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. The creditor may also hire a debt collector or sell the debt to someone who may try to collect the debt. Monthly Processing Range Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. In addition his contributions here, Phillip has also been quoted in several major publications such as The Los Angeles Times, INC Magazine, Miami Herald, Computer World, and numerous others. As of right now, I have this company for falsifying documents, and felony forgery. Their customer service is terrible, they are never reachable. Some processors have no monthly, no annual fees, no contract, and cheap rates. We're Proud to Advance Cash to Business Owners Like You. They are charging me a huge fee to cancel. I, like everyone else on this thread, was charged outrageous fees and then told that I cannot m leave my contract after it ended because it auto renews. 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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. Annual Fee $79.00 He has nearly two decades of experience in card payment services, both as a former merchant services sales representative and as a professional journalist covering the payments industry. Min. Both were resolved to the dissatisfaction of the merchant or received no final response. Were dedicated to B2B debt recovery. There is no monthly fee but there is a monthly minimum fee meaning if you dont process the requirement you are charged that fee. $1350 fee if terminal is not returned within 10 days. 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. Bitty advance immediately escalated my debts to Recovery Solutions Group and they have been harassing me ever since. 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. The site is secure. We are on our 4th machines, the terminals are very light, and very cheap looking, they break all the time, but when you try to get out of the contract because of it, they will say something like, but we can trouble shoot for you. To know the right provider, here are factors to consider when looking for a debt collection agency for your debt collection business. 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. Nasty contract . 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. Upon cancellation after over 4 years I returned the machine in good order. They really do not want to do this. This credit card processing company is HORRIBLE! They may require countless numbers of documents. The Clover name and logo are owned by Clover Network, Inc. a wholly owned subsidiary of First Data corporation, and are registered or used in the U.S. and many foreign countries. I have no other choice than to seek legal action against Merchant Solutions and/or the agent that opened up a second account with forged/copied paperwork. To get a reliable and low-cost collection agency merchant account, you just need to turn to emerchantbroker.com. She also helped us to file our annual PCI compliance saving us about $40 per month. When you choose us, youre not just getting back your assets. Also, youll be required to submit the following: Your collection agency must be legal when your applications are being reviewed by processors and underwriters. Its like they try to rip you off once last time b4 they let you go. To the companys credit, the website for TMS does not appear to engage in any deceptive marketing tactics. When I set up an account they told me there would be no contract if I used the mobile software and no fees just the $9.00 per month maintenance fee. Merchant Mavericks ratings are not influenced by affiliate partnerships. 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. Early penalty for cancellation. I will make sure this is my last time using this company. Garbage company. Thanks ANAIS. Only. These businesses are associated with a higher rate of risks related to payment processing and a large volume of chargebacks. Its important to be able to connect with a real person on the phone. Flexible and transparent pricing suits high- and low-ticket agencies. DO NOT USE!!! They refuse to refund the money. 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. We can help your collection agency even if you've you been turned down by service providers in the past. Some of these limitations can be pretty tough on a business, particularly in their early days. Learn more about your rights as a consumer and how to spot and avoid scams. STAY AWAY. Suggestion to get rid of them is to block them from your bank account, thats how they suggested getting out of a current contract! Get the truth here. However, you need to hire a merchant debt collector account provider who offers merchant collection solutions that meet your companys needs. Getting paid to re-write this page? This has Been the worst POS processing company I have ever felt with. Offers automated account application and custom quote processes. They have hired unqualified reps who dont know how to initiate talks with a new business, seems like working for paycheck only, doesnt seem they take ownership in helping future customers. 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! MERCHANT SOLUTIONS GROUP OPENS DOORS Business owners need capital to grow and manage their companies. Dont take their Free credit card machine or any of their so-called free equipment as they will charge you a $350 Restocking Fee when you try to close your account after you find out they are overcharging and ripping you off on credit card processing fees. This field is for validation purposes and should be left unchanged. The Signature page of the second contract is an EXACT COPY of the account I did open. Ex. Looking For One Of These Merchant Accounts For Collection Agencies? Very shady business practices and a very deceptive sales process. For this reason, they are often linked to high complaint totals. EMB is voted the top high risk processor in the US and has an A+ rating with the BBB. You may be surprised to know that this is one of the top reasons why smaller companies end up having to shutter their doors. Payment gateways offer an additional level of protection compared to virtual terminals by encrypting payment information before transmitting it to an acquiring bank. After being a member of The Merchant Solutions for over 10 years I discovered (by simple reviewing the statements) the December invoice had the following charges. Youll get your merchant account for your collection agency in as little as 24 48 hours. Wehave not found any outstanding class-action lawsuits or FTC complaints filed against The Merchant Solutions. PaymentCloud doesnt publically disclose its pricing on its website, which can make it more difficult for new collection agencies to accurately project their startup costs. This includes debt collection companies and debt buyers. Suggest you consider that Paymentech and many others do not charge this. Im so glad I read these before making a huge mistake. Now illness has caused me to lose my merchant tax ID. There are a bit more than 9.000 businesses in the industry that employ over 150.000 people. TMS offers a dedicated support phone line and an email form on its website. We have lowered the companys score in this section to a C to reflect this consistency. Square is a top choice for POS for any type of business. It's a cut throat industry. Total $247.95. Whatever type of debt collection your business operates in, we are confident that we can find a high-risk merchant account for you. 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. 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. Click here to earn a reward. 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. Your email address will not be published. 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. Whether youre building your agency from the ground up or already have a business that needs to switch to a better merchant account provider, your agencys success depends on multi-channel payment support, systems to combat fraudulent chargebacks, and transparent pricing plans and contractual requirements. I have tried to use card reader several times without success. They may even have maximum limits to any transactions that you complete. When account underwriters are deciding the fees or terms for working with them, they will need to see the finances of your business. 180 Maiden Lane, 15th Floor. All feedback, positive or negative, helps us to improve the way we help small businesses. Their customer service is simple horrible. If anyone has a better option please let me know. 4 Best Merchant Accounts For Collection Agencies. they hurt me by taking un authorized money out of my account PayKings, although a high-risk specialist, ironically exacerbates issues with reliable streams of revenue that are common to the debt collection industry. What Debt Collectors & Collection Agencies Need To Know About Payment Processing, 6 Tips For Getting Your Collection Agency Merchant Services Approved. 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 . 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. We provide merchant account services for both low and high-risk businesses. 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. They will give you false information over the phone and then tell you their salesperson had no authorization to give it. If you hear from them just Run!!! I would not recommend TMS to my worst enemies.