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Reverse My Fees Review: Are Zero Fee Claims Too Good to Be True?

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Maintained Since: January 15, 2018

We take our role in providing guidance and education regarding the card payment industry very seriously. At our own expense, we have vigorously defended our right to continue expose unethical and predatory practices in the industry, successfully defeating every attempt to silence us. However, fending off frivolous lawsuits is costly. To sustain these efforts, one of the ways we generate revenue is through affiliate partnerships with ethical providers. This means that some of our outgoing links connect business owners to trustworthy, low-cost payment processors, which is what most of our readers seek. We see this revenue channel as a win-win-win for everyone involved. Business owners find good processors, processors get good clients, and we are able to continue to provide a valuable service to the small business community. We also recommend and link to many services that do not compensate us. Our priority is to guide you to the best solutions for your needs, regardless of potential revenue. If you have questions, please feel free to contact us.

All mentions of rate and fee costs are estimations based on publicly available information and client feedback. Actual costs may vary based on a variety of factors unique to your business.

Reverse My Fees
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2/5
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Pros

Zero Processing Fees
Online Payment Processing
Mobile Payment Solutions

Cons

Additional Fees Reported
Customer Complaints
Contractual Obligations
Limited Transparency
Mixed Customer Reviews

UPDATE: Richard Suhm, the CEO of Reverse My Fees, has repeatedly sent us hostile communications in an attempt to suppress or change the content of this review. These actions have occurred in spite of our requests for Suhm to utilize the channels we have available for disputing content in our reviews and in spite of our original review being favorable to his company. To date, Suhm has refused to participate in the programs available to him, instead choosing to continue to threaten us if we don't acquiesce to his demands. We have assigned Reverse My Fees 2-stars based upon Mr. Suhm's aggressive behavior towards this website as well as reports we have received regarding legal threats to others. 

Overview

In this review of Reverse My Fees LLC, also known as Reverse My Fees or RMF, we take a close look at their merchant services that advertise “zero fee” processing through a dual pricing model. The review explains how this model works in practice by shifting credit card costs to customers through surcharges, and it also evaluates RMF’s offerings such as POS systems, mobile and online processing, virtual terminals, and equipment leasing. We examine their contract terms, reported additional fees, and the issues merchants often raise about transparency and customer support. By the end, you will have a clear understanding of whether the savings and structure offered by Reverse My Fees make sense for your business.

Screen Capture of Reverse My Fees Homepage
Reverse My Fees Homepage

About Reverse My Fees

Founded in 2016 and headquartered in Mandeville, Louisiana, Reverse My Fees (RMF) is a merchant services provider that offers zero-fee credit card processing solutions. Operating as a subsidiary of Electronic Exchange Systems LA, RMF enables businesses to shift processing costs to customers through a dual pricing model. This approach allows merchants to present two prices: a lower cash price and a higher card price that includes a surcharge of up to 4%, covering interchange fees. RMF supports various payment methods, including in-person, mobile, and online transactions, and provides equipment leasing options. The company also offers additional services such as merchant cash advances and chargeback mitigation. RMF operates under different names, including Fee Reversal and Resolute Payments, and is registered as an ISO/MSP of Total Merchant Services, with Wells Fargo Bank, N.A. as the acquiring bank. While RMF has received an A+ rating from the Better Business Bureau, some reviews have noted concerns regarding fee transparency and customer support practices.

Products & Merchant Services

Payment Processing

Reverse My Fees offers a zero-fee processing service where a convenience fee of up to 4% is charged to customers for using a credit card. The proceeds from these fees are given to merchants to cover interchange costs. However, merchants may only be reimbursed for the actual interchange cost, with the remainder of the surcharge potentially kept by Reverse My Fees. For instance, if the interchange fee is 2% and the surcharge is 3%, the merchant receives 2% while Reverse My Fees retains the additional 1%. This shifts the cost of interchange fees to customers while allowing Reverse My Fees to profit from the surcharge.

Offline and Online Services

For offline services, Reverse My Fees integrates with Point of Sale systems and supports check payments. Online services include internet accounts, chargeback support, and various online payment processing options such as credit and debit cards, e-checks, ACH payments, e-wallets, and mobile payments. They also offer equipment leasing and a cash advance program.

Cash Discount Program

Reverse My Fees provides a cash discount program that allows businesses to pass credit card processing fees to customers who choose to pay with a credit card. This program is legal across all 50 states and can help businesses save significantly on processing fees.

Equipment Leasing

The company offers leasing options for businesses needing credit card processing equipment. They provide a range of customizable options suitable for small start-ups to large corporations.

Chargeback Mitigation

Reverse My Fees offers services to help businesses minimize the impact of chargebacks. They assist in developing strategies to prevent chargebacks and support businesses throughout the dispute resolution process.

Merchant Cash Advance

For businesses requiring quick access to cash, Reverse My Fees offers merchant cash advances. This service allows businesses to receive a lump sum payment upfront in exchange for a portion of their future credit card sales, which can be useful for large purchases or unexpected expenses.

Online Payment Processing

Reverse My Fees supports online payment processing, enabling businesses to handle e-commerce transactions efficiently. Their system supports multiple payment types and ensures secure and rapid processing of online payments.

Mobile Payment Solutions

For businesses that need flexibility, Reverse My Fees provides mobile payment solutions. This service allows secure and fast processing of credit card transactions via smartphones or tablets, suitable for businesses operating outside traditional storefronts.

Security Measures

Security is a priority for Reverse My Fees. The company uses advanced encryption technologies to protect sensitive data and ensure secure transactions. They adhere to Payment Card Industry Data Security Standard (PCI DSS) regulations to maintain high security standards in their processing services.

Customer Reviews & Sentiment

Public Feedback

We’ve encountered a singular negative review of Reverse My Fees, detailing an unforeseen account closure linked to low processing volume. Given Reverse My Fees’ status as a relatively new processor with multiple Doing Business As (DBA) entities and an unconventional approach, it’s plausible that it hasn’t amassed a significant user base to generate substantial public feedback. Moreover, it’s conceivable that complaints related to Reverse My Fees might have been attributed to EXS or Total Merchant Services instead. Absent concrete evidence of customer dissatisfaction, our typical inclination would be to assign Reverse My Fees an “A” rating in this category. We encourage individuals to share their experiences with Reverse My Fees in the comments below.

Customer Support Channels

Reverse My Fees provides phone, email, and contact form support through its website, with operational hours from Monday to Friday, 8 AM to 8 PM.

Industry Scores & User Ratings

Online Ratings Summary
PaymentPop3
BBB RatingN/A
Average RatingN/A

PaymentPop Rating for Reverse My Fees

Negative Feedback

Horrible customer service. No communication & doesn’t care about their customers.

Positive Feedback

I have been with Reverse My Fees for over 3 or 4 years and it is wonderful not having the burden of paying all of the processing fees. I have recommended this service to many other business owners but many of them just don’t get it and they keep paying all of them fees. My customers don’t mind paying the 4 % and understand that it is harder on the business to pay the fees for each customer. In these days and times a savings is a big help in business. My rep is Jody Gauthier and he is always courteous and kind. He answers the phone whatever time of the day or night he is needed. He has a super team that backs him up and the office ladies are magnificent. Thanks to Jody and Reverse My Fees he saved us a lot of money. My business name is Lumberjack’s Soul food in Lafayette, La. Tanya Thomas Taylor

BBB Rating Analysis for Reverse My Fees

Reverse My Fees has an A+ rating from the BBB. However, there are no customer reviews on the BBB website. The company has had 1 customer complaint in the last 3 years, which was related to billing and collection issues.

Negative Feedback

On a previous update the BBB profile had the following user review, but it has since been removed.

Around the date of August 15, I noticed a charge on my account from Reverse My Fees, so I attempted to contact one of their agents. I didn’t receive a call or text back, so I called merchant services. They informed me that my account had been closed without my knowledge. They gave me the name of my agent, which was different from the person I had been contacting. I attempted to contact this new person, but they did not call me back. I then received a text saying that my account was closed due to not having $5000 worth of charges a month. I was not warned, and I don’t have a contract stating a minimum charge amount to stay active. My account was closed without warning or explanation. I feel this is false advertisement, and I would like a refund for the cost of the machine.

Positive Feedback

There are no positive reviews published about Reverse My Fees on the Better Business Bureau website.

Processing Rates & Fees

Reverse My Fees Monthly Costs

As explained, Reverse My Fees applies a 4% charge on all credit card transactions, supplemented by a surcharge matching the interchange fees, which are then reimbursed to the business owner. This effectively reduces the business’s payment to 4% minus the interchange cost, with Reverse My Fees retaining the difference. Additionally, the company imposes several fees, including a $5 monthly service fee, a $9.95 assurance fee, a $3.50 regulatory compliance fee, and a $9.95 monthly loss protection fee. These fees, coupled with the difference between 4% and the surcharges, constitute Reverse My Fees’ profit on the account.

Other Contract Terms

Certain aspects of the Reverse My Fees contract remain undisclosed, significantly impacting a client’s expenses. These include debit transaction pricing, potential annual PCI compliance fees, the monthly minimum fee, equipment leasing terms, and the early termination fee. The company does not provide these details on its website. Furthermore, if Reverse My Fees charges 4% on debit card transactions, it stands to gain significantly as debit card interchange rates can be as low as 0.05% plus $0.21.

Surcharge Restrictions

Questions arise concerning Reverse My Fees’ compliance with card network rules, particularly Visa’s regulations on surcharging. Visa specifies limitations on surcharging, restricting it to credit cards only and capping the surcharge at the merchant discount rate or 4%, whichever is lower. The company’s fixed surcharge approach, however, may exceed these rates, potentially violating Visa’s guidelines.

Surcharge Disclosure

Proper surcharge disclosure is essential, and Reverse My Fees has a responsibility to assist clients with compliant signage as per state laws. Businesses using Reverse My Fees must inform customers of the additional 4% charge for credit card transactions, which could impact their competitiveness.

Allegations of Non-Compliance

While private correspondence alleges non-compliance by Reverse My Fees, no public complaints corroborate these claims. If accurate, these allegations could expose clients to legal risks. However, if Reverse My Fees operates within regulations, it could offer significant savings to business owners.

Score Withheld

Given the information available and the private allegations, we refrain from assigning a rating to Reverse My Fees. Future ratings will depend on verifiable client feedback. Business owners are encouraged to review our list of the best merchant accounts.

Lawsuits & Legal History

Legal Considerations

Reports from anonymous sources suggest that Richard Suhm and Jody Goche have issued legal threats in response to reporting on Reverse My Fees, particularly regarding alleged improper surcharging of debit card transactions. It’s worth noting that both Visa and MasterCard prohibit the surcharging of debit cards, and the legality of such surcharges varies by state. Businesses found to inadvertently surcharge debit cards could face penalties and legal repercussions, potentially jeopardizing their ability to accept card payments altogether. Business owners are urged to ensure compliance with state laws and card brand policies regarding card surcharging. Additionally, Richard Suhm has purportedly contacted this website multiple times, seeking the removal of reviews through the threat of legal action.

As of our investigation, there are no outstanding Reverse My Fees lawsuits or Federal Trade Commission (FTC). Dissatisfied clients seeking alternative avenues for recourse are encouraged to report it to relevant supervisory organizations.

Employee Reviews & Sales Practices

Zero-Fee Processing Explained

The pricing structure used by Reverse My Fees is made possible by a 2013 legal settlement between a group of business owners and the major credit card brands. This settlement granted businesses the right to charge their customers a maximum surcharge that is equal to their discount rate on any credit card transaction (with a maximum surcharge of 4%). In order to add these surcharges, businesses must notify the card networks and their acquiring bank of their intention to add surcharges at least 30 days before they start surcharging. They must also add signage disclosing the surcharges to their customers. Surcharges cannot be added to debit cards, prepaid cards, or EBT cards, and surcharges are completely outlawed at the state level in California, Maine, Florida, Kansas, Texas, New York, Massachusetts, Texas, Florida, Oklahoma, and Colorado. Visa has provided a useful FAQ on this issue here and a separate infographic here.

Look Past The Ads

At first glance, Reverse My Fees’ marketing language about “reversing” fees and “zero-cost” processing appears highly suspicious and unrealistic. In reality, these descriptions aren’t entirely accurate as nothing is really being reversed and each client’s cost is likely going to be above $0. However, the company is generally straightforward about how it prices its services and even includes portions of a sample statement on its website. Aside from the fact that it resorts to simplistic promotional language to describe its complicated pricing structure, there is no evidence that Reverse My Fees engages in deceptive or unethical marketing tactics. Normally this would compare favorably to our list of best credit card processors; however, the company’s behavior paints a different picture.

Few Complaints

Similarly, we are able to locate a few Reverse My Fees complaints that describe negative experiences with the company’s sales agents, though what is there is concerning. One such Reverse My Fees review mentions ghosting after attempting to set up a contract. There are also a few complaints filed against EXS and Total Merchant Services. Given the lack of much evidence that Reverse My Fees is engaged in unethical sales behavior, we would typically assign the company an “A” rating in this section. If you suspect, however, that the company has misrepresented the rates you are paying, then you can double-check your monthly bill with a third-party statement audit.

Reverse My Fees zero cost
It is unlikely that “zero cost” will actually result in no money paid

Reverse My Fees Competitors

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Bottom Line

Reverse My Fees is assigned a 2-star rating primarily due to the actions of the credit card processing company’s CEO toward this website. Initially, we refrained from assigning a rating because of Reverse My Fees’ limited time in business, unconventional pricing strategy, and lack of public customer feedback. On the surface, the company’s pricing model may appeal to businesses willing to surcharge their customers; however, it also poses a risk of unacceptably high markups that disproportionately benefit Reverse My Fees.

Business owners who are curious about this company’s pricing model should thoroughly investigate the pros and cons of cash discount and zero-fee programs before committing. Understanding these nuances will help merchants gauge whether the model aligns with their business strategy or if another approach offers better value. Ultimately, we advise carefully weighing Reverse My Fees against top-rated alternatives to ensure a transparent and cost-effective solution.

Read Actual User Reviews

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Contact Reverse My Fees

Contact & Customer Support
CEORichard Suhm
Headquarters519 N Causeway Blvd, Mandeville, LA 70448
Toll-Free General Customer Service(888) 226-5926
Additional Support ChannelsOnline Contact Form
Websitefeereversal.com