Its just a penalty fee that they add on you for leaving their company. I didnt understand the fees so I called them and asked them to give me the run down of EVERYTHING on the fees page and was told just the requirements the gateway fee they said wasnt in the contract because its a regular thing with all processors. When I wanted to cancel they wouldnt send me the cancellation form for weeks. Run, dont Walk, from the Hustler Con Artists at The Merchant Solutions. Debt Collection FAQs | Consumer Advice The second your merchant account closes down is the second that you are no longer able to accept payments for your company. please dont sign up and let people know about that. They want me to pay almost $900.00 for equipment I dont use. Any and all use of trade names and/or marks are for identification purposes only and shall not be construed as a claim of affiliation, or otherwise, with CardPaymentOptions.com, Inc. ("CPO") in any form. Not an existing MeS Virtual Terminal User? The site is secure. They actually added 19 pages to our contract virtually and said we signed them 1 1/2 years after signing the original. They changed my contract, billed me a ton more without giving me an opportunity to opt out. I got the notification in the mail 2 FULL DAYS AFTER they had billed me. I had joined Merchant Solutions because they told me there is no contract and no charge for the machine. They may even have maximum limits to any transactions that you complete. Owe CFG Merchant Solutions? Learn More Here - Tayne Law Group We occasionally send out emails with special offers. Merchant Mavericks ratings are editorial in nature, and are not aggregated from user reviews. Youre also working with a business that knows your problem and has the fix. 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! Respectable processors like EMB guarantee a fast, secure application process. The chargeback will be made against their account. We have located multiple The Merchant Solutions customer service numbers: (888) 707-2836 Toll-Free Customer Support/Sales Opinions expressed here are authors alone. The collector has to tell you four pieces of information. I attempted to cancel my contract and they are trying to hit me with over $1000 in last min charges. Moreover, EMB is rate A by Card Payment Options. 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. As you're checking out a debt collection call, remember: don't respond to threats. Debt Collection Industry and Merchant Accounts TOTAL SCAMMERS!!! 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. 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. 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. Collection agencies that process mostly credit card payments should keep an eye out for merchant account providers that support virtual terminals. Only. 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. 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. I was told by a company Rep, Ray Siddique, that there will not be any hidden fees or cancellation fees ever, and they will offer the best lowest deal. 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. Spot the latest COVID scams, get compliance guidance, and stay up to date on FTC actions during the pandemic. A handful of debt collectors employ scare tactics such as calling debtors around the clock or harassing them in person for collections. I will continue fighting for their dishonest practice.Do not fall for Merchant Solutions,they are a ripoff company and have a false advertisement for the free machine which on Amazon sells for $250.00.and they charge $1000.00!! Numerous calls went straight to voicemail without any return calls. Its website can be hard to use as well. With our underwriting services in place, you can enjoy a much greater success chance of obtaining a merchant account with one of these banks. Zero star rating, they are big time scam i signed up a few weeks ago and havent been able to get into contact with them since. Once the application process starts, we will find the best merchant account for you. Bitty advance immediately escalated my debts to Recovery Solutions Group and they have been harassing me ever since. Also that free terminal will cost you $350 when you try to cancel the account. Customer service is a joke and they just gave me a run around, once even saying they would transfer the info to the analytical Dept while the rep was laughing. Within a month or two they charged me a yearly acct fee of $80.00 and then out of the blue raised the monthly rate to $20.00. 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. This means that we can offer rates that are a little bit cheaper than most other high-risk merchant account providers. The reason why most high-risk merchant account providers are so strict during their application process is because of the nature of the debt collection business. The merchant solutions is the most horrible company I have ever dealt with. Needless to say, I immediately sent the keypad and tracking revealed they received it in 3 days. This complaint total is somewhat high for a company as small as TMS, and it therefore merits a D grade in our opinion. Annual PCI Fee $99.00 The Merchant Solutions commits serious unethical and possibly illegal business practices, and you can see their legacy of fraud at RipOff Report.com or the BBB for Woodland Hills California, or on Yelp.com. I DO RECOMMEND THAT YOU DO NOT ATTEMPT TO USE THEIR SERVICES!! I am looking to upgrade 4 of my restaurants systems. 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! 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 will close down your account. Looking for legal documents or records? Their charges are exhorbitant. 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. Ex. Note: We have adjusted this companys BBB rating according to our own standards. (800) 228-0210 Technical Support, The Merchant Solutions also offers a customer service email at [emailprotected]. PaymentCloud can help almost any business get approved for payment processing. We work to advance government policies that protect consumers and promote competition. Opens accounts with terms not agreed to. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); BE AWARE!! 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. Toll free: (888) 544-9711. They are awful and very dishonest do not use them. The job of the business, however, is to ensure that they have processes in place to keep this risk down to the absolute minimum. This credit card processing company is HORRIBLE! I have been in contact with them for months now, and they still cannot give me a justifiable answer. 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. Early penalty for cancellation. We can help your collection agency even if you've you been turned down by service providers in the past. This means that you could, effectively, lose your ability to run your business. Ray Siddiqui of TMS told me if I return the keypad, he would refund the $500 and 2 months of fees at $35/month. An official website of the United States government. When banks determine a businesss risk status, they consider that businesss complete history of chargebacks. Don't Fall Into An Expensive Trap. eMerchant Authority can help with this. I was very skeptical and was sure that the contract did not disclose a 3yr aggreement or termination fee. Help with PCI compliance is a godsend for businesses that operate in the highly regulated collections industry. 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. To get a reliable and low-cost collection agency merchant account, you just need to turn to emerchantbroker.com. How To Know If A Debt Collector Is A Scam | Bankrate MERCHANT SOLUTIONS GROUP OPENS DOORS Business owners need capital to grow and manage their companies. While the information in the above article is believed to be accurate as of its publish date, the author and publisher make no representation or warranties with respect to the accuracy, applicability, fitness, or completeness of the contents. We're Proud to Advance Cash to Business Owners Like You. This is why we want to help you get the right debt collection merchant account from the very start. Home - Merchant Solutions LLC The .gov means its official. How to look up licensees and those debt collectors allowed to do Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. In the podcast below, Phillip explains how credit card processing and credit card fraud affects business owners. Sign up today and get a free card reader! Phone number: (302) 241-0686. To the companys credit, the website for TMS does not appear to engage in any deceptive marketing tactics. Very rude on phone, does not care about you as a customer. PaymentCloud helps merchants navigate the necessary steps to become PCI-compliant within 90 days and without charging a PCI compliance fee. Still interested? Phantom debt collectors impersonate law firms | Consumer Advice Higher cost than explained in solicitations Whether youre a startup or an established business, you can count on us to provide you with a perfect merchant service solution with the latest hardware and software tools such as Clover systems that are perfect for your retail payment needs. So only use this business if you like being lied to and stole from cause thats what their good at. 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. This is Uncle Fried Chicken LLC, and The Merchant Solutions are scammers and dont follow their own contract rules. 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). If you hear from them just Run!!! Our proven Merchant Cash Advance (MCA) default recovery solutions are proven to turn your delinquent accounts back into cash. 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.
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