Let us know how well the content on this page solved your problem today. By working with eMerchant Authority, this is a problem that can be avoided. TMS is a registered independent sales organization and member services provider (ISO/MSP) of Wells Fargo Bank, N.A., of Concord, California. Ive called them over 15 times, and each time they blow me off, or offer me a partial refund if I delete the negative (yet accurate) Yelp and Rip Off Report reviews I left them. The worst company to do business with ever!!!! If you have your own The Merchant Solutions review to make, please do so in the comments below. 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. Biggest rip-off company, holding my $ 2500 in the name of government, one employee working all the time and dont know ownership of this company , dont sign any account with this company, This post will help: How to Make Your Payment Processor Release Your Money. We are not being charged an ADDITIONAL $159.90 (received bill in the mail) with no explanation of what the fee (s) is for. 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. They Rip you off way more than wat they told you they would charged. Looking For One Of These Merchant Accounts For Collection Agencies? Here are other additional benefits that you receive when you apply for an internet merchant account with eMerchant Authority. I should have closed my bank account the minute we closed our business so I could have avoided all of this. Memo from Chair Lina M. Khan to commission staff and commissioners regarding the vision and priorities for the FTC. The majority of Americans use loans, credit cards, lines of credit to pay for their lifestyles. Sign up today and get a free card reader! Note: We have adjusted this companys BBB rating according to our own standards. Youre also working with a business that knows your problem and has the fix. All they do is to get you sign up the contract, but be sure to read the fine print on auto renew, they will auto renew you into another contract even their machine never works. Debt collection businesses should partner with a merchant A business that accepts credit cards for goods or services. We occasionally send out emails with special offers. We appreciate it. The company is headquartered at 22801 Ventura Boulevard Suite 300, Woodland Hills, California 91364. Some processors have no monthly, no annual fees, no contract, and cheap rates. In some cases, this leads to merchants contracting with debt collection agencies. Then they sent me a replacement machine that I had absolutely no use for; they actually sent me the wrong machine and billed me for it. Payment Processing . Toll free: (888) 544-9711. Strongly suggest that anyone does there homework and compare companies for this service. 100$ fee come out of no where every month, and when i called them they said that 100$ fee only apprea once a year. Learn more about our monetization policies here. 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 very dishonest company with deceptive business practices. The market research firm IBIS World reports that the debt collection industry represented a $13 billion market in the US as of May 2013. Due to the unique processes we have in place, we can offer affordable rates for our services. According to The Merchant Solutions complaints filed on this site and elsewhere, TMS appears to offer a standard contract of three years with automatic renewal, an annual fee of $79, a PCI compliance fee of $99, and an early termination fee of $395 or more. Instabill offers credit card terminals albeit with little information concerning specific terminal models or features on its website. I used Merchant Solutions for approx. It's a cut throat industry. All debt collectors track down past-due debts that businesses and consumers owe. This means that your company can process debit and credit card transactions, and it will do this for an affordable price. To my surprise after trying them out I was told that I had signed a 3 yr contract with a $350 termination fee. 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. Additionally, merchants who sign up with TMS report finding themselves also committed to long-term equipment leases with early termination fees ranging from $350-$400. if anyone do business with this scums be prepared to have a high blood pressure. Also when you call they have no customer service and are rude on the phone. Upon cancellation after over 4 years I returned the machine in good order. 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. Swipe credit cards securely by implementing PCI compliant payment solutions. Square is a top choice for POS for any type of business. Thousand Oaks, CA 91362. Im so glad I read these before making a huge mistake. eMerchantBroker.com. Were dedicated to B2B debt recovery. A full point-of-sale (POS) system in one sleek package. They charge for any reason and they have a lot mistake they charge me before even i start with them for $28 and when i called them they said that was mistake they charge me $39 and $69 for annual fee and i just work with them a few days. service provider that has expertise in high-risk merchant A business that accepts credit cards for goods or services. Our experienced attorneys can help you come up with a strategy to deal with your debt while keeping your business running. My company is a small business that processes $200000.00 a year with this processor,,I have the right to question a fee But KURT didnt think so.I have contacted MS on other occasions and received less than favorable customer service. 180 Maiden Lane, 15th Floor. Still interested? 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. This means that you will be out of business. Fortunately, there are providers willing and able to help. 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). The Merchant Solutions processes most major payment types. 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 our job is to reduce the risk of any transactions for the merchant bank. high risk merchant account instant approval, high risk merchant account payment gateway, offshore high risk merchant account providers, Merchant Business Funding: Making It Easier for Merchants to Get What They Need When They Need it, Instant Credit Card Processing: What You Need to Know, International High-Risk Merchant Accounts For Global Growth, Electronic Business Merchants Face Unique Challenges, We Can Help, Payment Gateways Help Merchants Keep Sites Safe and Secure, A valid, government-issued ID, such as a state-issued drivers license, A bank letter or a pre-printed voided check, 3 months of the most recent bank statements, 3 months of the most recent processing statements, if applicable, An SSN (Social Security Number) or EIN (Employer Identification Number). The sales rep never returned my calls and is no longer with thw company. However, pricing is not disclosed on either of those services. As is the case with other industries that fall into the high-risk category, collection agencies operate in an unstable regulatory climate and unfortunately experience a higher risk of unreliable streams of income. I will NEVER consider using them again. I would recommend not to do business with this company. That means we spend every day sharpening our tools and providing the know-how to efficiently resolve delinquencies and liquidate accounts. Ensure you understand the contract terms and all the costs involved with the credit card payments before you sign the contract. Milford, DE 19963. Ideal for collection agencies with a history of excessive chargebacks. Due to the high-risk nature of your business, most merchant account providers will ask you to jump through hoops if you want to work with them. I work damn hard to run my business and I will be damned if they are going to steal money from me. eMerchant Authority specializes in merchant accounts for high-risk businesses; this includes debt collection agencies. 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. 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. Some collectors harass and threaten consumers, demand larger payments than the law allows, refuse to verify disputed debts, and disclose debts to consumers' employers, co-workers, family members, and friends. If they cannot claim the money back from the seller, then the merchant account provider will have to pay these fees. 53 of these reviews are positive, while the remaining 5 reviews are negative. The creditor may also hire a debt collector or sell the debt to someone who may try to collect the debt.
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