The mobile POS solutions that Instabill offers can be relatively time-consuming to begin using as well since Instabill requires its users to create a separate account with its mobile processing partner, CardFlight, before they can accept mobile payments from multiple devices. 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. Ready to integrate payment processing solutions into your new business? Getting paid to re-write this page? The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely. Collection agencies require a merchant account provider that supports over-the-phone as well as online payment processing and facilitates timely consumer payments to prevent interruptions to revenue streams. Licensed Debt Collectors As applicants are approved consumers can look up and verify our licensed servicers' telephone number, email address, and website information through the Nationwide Multistate Licensing System (NMLS) Consumer Access ( www.nmlsconsumeraccess.org ). Learn more about our monetization policies here. Also even though I had cancelled in June, in July they also charged PCI compliance of $99.00 when I did not even process with them. You want a merchant account provider who has the experience and more so one with experience working with high-risk industries like yours. See Who The Worst Processors Are. This was not in our contract, but I couldnt get the money back without suing them. I have been in contact with them for months now, and they still cannot give me a justifiable answer. Several complainants outright accuse the company of being a ripoff or a scam operation. The worst company to do business with ever!!!! This company is a bunch of scam artists charging a early termination fee of 395 after we were with this company 6 yrs and only had a 3 yr contract which they took upon themselves to renew, charges for non compliance because they decided to switch companies for their compliance when I was compliant through April of 2013 and now a $50 fee for refurbishing,, it is not my problem that they need to refurbish a machine. They are beyond shady and dont care at all about customer service!!! They round up everything, even when they shouldnt according to elementary mathematics! Because of their undisclosed fees and charges I ended up paying more than my previous company. They may even have maximum limits to any transactions that you complete. 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. We have focused on merchant cash advances over two decades. 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. BBB received a pattern of complaints concerning collections practices. 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. Stay away from Themechantsolution!!! Instabills main draw is its services to high-risk international merchants that process offshore payments, although its support for brick-and-mortar agencies that need on-site payment processing leaves something to be desired. Also that free terminal will cost you $350 when you try to cancel the account. For me customer support is key and Austin is definitely an asset to this company. Pure scam artists just looking to steal your hard earned money. Collection agencies need a stable merchant account to let their customers pay off past-due debts with a credit card or e-check. Neither of these 2 complaints was resolved by the company to the satisfaction of the merchant. 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!! PayKings, although a high-risk specialist, ironically exacerbates issues with reliable streams of revenue that are common to the debt collection industry. Durango combats consumer-related fraud with anti-fraud protections such as Verified by Visa, Mastercard SecureCode, Fraud Scrubbing, and EMV 3d Secure 2.0. In Summary: 4 Best Merchant Accounts For Collection Agencies. 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. Fax: (818) 707-7070. You really leave your business account open to these guys with free access to do as they like. The Merchant Solutions processes most major payment types. 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. Wondering what else to consider as a high-risk merchant that needs a reliable merchant account provider? Get clarity before you switch. DO NOT EVEN talk to their salespeople. That means we spend every day sharpening our tools and providing the know-how to efficiently resolve delinquencies and liquidate accounts. Horrible company. Since these banks know and trust the quality of our services, they will be able to trust you too. Higher cost than explained in solicitations eMerchant Authority prides itself in being a leader when it comes to the provision of merchant account solutions. They may require countless numbers of documents. 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.. Annual Fee $79.00 Would recommend , Merchan Solution they are very professional , Ive been talking to Austin back and forth seems like I know him, anyway every question I did not understand about this machine he explain it very clearly to me, He was not Just a sales person he wants my business to succeed Thank you very much .Austin Smith, Merchant solutions are very professional. Lots of hidden fees that other companies dont charge! All they want is your money. I was very skeptical and was sure that the contract did not disclose a 3yr aggreement or termination fee. 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. They said they are the cheapest one but they are not. They refuse to refund the money. The Signature page of the second contract is an EXACT COPY of the account I did open. Total $247.95. My company is no longer doing business and I have not used the machine in 6 months. Merchants can get more competitive contract pricing by instead going with a cheap merchant account provider. This field is for validation purposes and should be left unchanged. Youre also working with a business that knows your problem and has the fix. This means that you will be out of business. 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. Comp Admin Fee $9.95 Remember; if you do not take the time to find a merchant account designed for high-risk businesses like yours, your company could lose its ability to process transactions overnight. There are also several risk factors and legal issues that can complicate your decision when choosing the proper payment processor. they charged me $450 every month out of total 10k annual monthly. We occasionally send out emails with special offers. not explained. I DO RECOMMEND THAT YOU DO NOT ATTEMPT TO USE THEIR SERVICES!! Look out for credit card processors who offer other merchant solutions that could be useful for your business. Some merchant account providers may offer high fees. Kim, this just happened to me and I wanted to see if you had any outcome in your situation. eMerchant Authority is a registered ISO of Woodforest National Bank, Houston, TX Member FDIC. We can help you to seamlessly integrate eMerchant Authority payment solutions into your business. I will make sure this is my last time using this company. Due to the unique processes we have in place, we can offer affordable rates for our services. This post will help: Cancelling a Merchant Account Without Paying a Fee. Merchant Processing Advisors can find multiple merchant account providers and can offer virtual terminals and payment gateways that allow their clients to process payments in a secure manner. Youll first need to navigate the logistics of processing different customer payment types with different pieces of hardware. I was told thay my rates would be as low as 1.5%. When we both know its theirs! We take great pride in providing one of the only objective an unbiased merchant account review websites on the internet. This has Been the worst POS processing company I have ever felt with. This means that you can always stay on top of any transactions that you are making. The merchant account providers POS systems and card readers as well as its excellent integration capabilities are thankfully easy to navigate with a strong reputation for standout customer service. 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! Help with PCI compliance is a godsend for businesses that operate in the highly regulated collections industry. How To Make The Right Choice, Buy Now Buttons: The Key To Selling On Your Blog Or Website, automated clearing house (ACH)/electronic fund transfer (EFT) payments, types of professional liability insurance, complete list of High-Risk Merchant Account Reviews, The 6 Best E-Cigarette & Vape Merchant Accounts, The Best Options For Fantasy Sports Merchant Accounts (& How To Get Your Account Approved), The Best Merchant Accounts For Travel Agencies, Booking Firms, Tour Operators & Other Travel Businesses, FreshBooks Payments 101: The Complete Guide To Using FreshBooks Credit Card Processing Service, Coronavirus (COVID-19) Guides & Resources, Gift Card Systems For Small Business Guide: Best Ways To Sell Small Business Gift Cards In 2023, 8 Cheapest Credit Card Processing Companies & Low-Cost Merchant Services, Best Emergency Business Loan Options For Your Small Business, What Is Shopify & How To Use Shopify In 2023. I am still waiting on on calls from their supervisors from last year. We also encourage merchants to check out our list of the providers of the best merchant accounts. Zero star rating, they are big time scam Search the Legal Library instead. This company hires predatory sales people, arent up front about fees and raped my bank account. In some cases, this leads to merchants contracting with debt collection agencies. What out business owners out there about this Merchant Solutions. 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. I used Merchant Solutions for approx. Whatever type of debt collection your business operates in, we are confident that we can find a high-risk merchant account for you. I have tried to use card reader several times without success. 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. 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. 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. The Merchant Solutions also appears to resell the products of First Data (Fiserv). She said that I would need to submit an application in order to verify the discounts they were offering. Opinions expressed here are authors alone. We appreciate it. These people are down right crooks! Noah is a writer and content creator currently living in Fairfax, VA. These people are the biggest crooks Ive ever encountered. They never have any answers and are only looking for ways to disconnect you. Were dedicated to B2B debt recovery. This company should not be allowed to do business. STAY AWAY. Such a vendor can be a great help for your debt collector business. Keep your money you work for and dont use them. Copyright 2023 Merchant Maverick. When scammers threaten to arrest you, suspend your driver's license, or call your employer if you don't pay immediately, hang up and report the collector to the FTC at ReportFraud.ftc.gov. Independent sales agents are often paid by commission and are therefore motivated to sign merchants to the most expensive contract terms they can. Debt collectors that typically process credit card payments rather than alternative transactions such as ACH payments should nevertheless choose a payment processor that supports options for electric check processing and fraud detection. 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.
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