Reverse My Fees Overview

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UPDATE: Richard Suhm, the CEO of Reverse My Fees, has engaged in repeated hostile threats or actions 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. To date, Suhm has not cooperated in the programs available to him.  We have assigned Reverse My Fees an SP (Score Pending) rating at this time.

An EXS LA Subsidiary

Reverse My Fees is a merchant account provider and a subsidiary of Electronic Exchange Systems LA (EXS LA – exsla.com) that was registered in the state of Louisiana in June 2016. EXS LA is an ISO of Total Merchant Services and also appears to have a Florida-based DBA called ReversePAY (reversepayprocessing.com). Reverse My Fees primarily offers zero fee processing, which charges a merchant’s customers a convenience fee of up to 4%. It then gives the proceeds from these convenience fees directly to merchants to negate the cost of interchange. In effect, this enables Reverse My Fees clients to shift the costs of interchange fees directly to customers.

Reverse My Fees Ownership and Location

Richard Suhm is the CEO and co-founder of Reverse My Fees, which is headquartered at 3011 Canaan Pl, Mandeville, Louisiana 70448.

Reverse My Fees Review Table of Contents

  • Costs & Contract: Reverse My Fees offers the ability to surcharge customers in order to offset transaction fees.
  • Complaints & Service: Reverse My Fees has received fewer than 10 public complaints.
  • BBB Rating: Reverse My Fees has an “A+” rating and has received 0 complaints and 1 review in the last 3 years. The company has been accredited by the Better Business Bureau since 2018.
  • Sales & Marketing: Reverse My Fees appears to hire independent sales agents but has not received any complaints about its sales practices.
  • Rates & Fees: How Merchants Got The Best Rates With Reverse My Fees

Reverse My Fees Statement Analyzer

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Products & Services Offered

Types of Businesses Served

  • Retail
  • Bars
  • Gas stations
  • Utilities
  • Auto repair
  • Real estate

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Reverse My Fees Rates, Fees, and Costs

Key Points

Swiped Rate 4% - Interchange Fees
Keyed-in Rate 4% - Interchange Fees
Monthly Service Fee $5.00
Assurance Fee $9.95
Loss Protection Fee $9.95/mo
Regulatory Compliance Fee $3.50

Reverse My Fees Monthly Costs

As outlined above, Reverse My Fees charges merchants 4% on all credit card transactions but adds a surcharge equivalent to the interchange fees of all transactions and then transmits the proceeds from those surcharges to the merchant. As a result, the merchant effectively pays 4% minus the cost of interchange, with Reverse My Fees keeping the difference. According to a sample statement shown on the Reverse My Fees website, the company also charges 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 plus the difference between 4% and the company’s surcharges will constitute Reverse My Fees’ profit on a merchant’s account.

Other Contract Terms

There are still some undisclosed elements of the Reverse My Fees contract that can heavily impact a merchant’s costs, such as its pricing for debit transactions, any annual PCI compliance fees, its monthly minimum fee, its equipment leasing policies, and its early termination fee. The company does not disclose these details on its website. If Reverse My Fees charges the merchant 4% on debit card transactions, then it will make an absurd profit on debit card payments (which can receive interchange rates as low as 0.05% plus $0.21). Since surcharges cannot legally be added to debit card purchases, the company’s standard “surcharge” model does not account for a way to reimburse merchants for those payments.

Surcharge Restrictions

There are also broader questions that surround the service and its implementation. For instance, Visa’s rules for surcharging state that merchants must “limit surcharging to credit cards only (no surcharging debit and prepaid cards) and limit the amount to your merchant discount rate for the applicable credit card surcharged,” meaning that merchants cannot add a surcharge to a card that exceeds the card’s discount rate (interchange fee) or 4%, whichever is lower. Therefore, it would seem that Reverse My Fees can only comply with card network rules if its software calculates the discount rate of each transaction and adds an equivalent surcharge in real-time. The examples provided by the company in various promotional materials indicate that it is more likely to apply a fixed surcharge of 3.25% or 3.5% to all transactions with the expectation that this will cover a merchant’s discount rate for most cards. However, since this approach would result in some surcharges exceeding a card’s discount rate, it is unclear whether this approach is compliant with the rules outlined by Visa.

Surcharge Disclosure

Another issue is the matter of proper surcharge disclosure, which is a burden that falls to each individual merchant according to state laws. It is our belief that Reverse My Fees has an obligation to assist its merchants with proper signage and disclosure in all cases. Furthermore, merchants who use the Reverse My Fees system will need to communicate to their customers that they are passing an additional cost of nearly 4% on to them for the use of a credit card, which may or may not affect their ability to remain competitive.

Allegations of Non-Compliance

We have received a private correspondence alleging that Reverse My Fees surcharges all debit cards, does not provide compliant signage to merchants, and does not give card brands the 30 days’ notice that they require to add surcharges. However, we have seen no public complaints that corroborate these claims. If they are true, then Reverse My Fees could potentially be exposing its merchants to legal ramifications. If the company is in fact operating in compliance with all rules and regulations, then it is theoretically possible that it could save merchants large sums of money.

Score Withheld

Considering the sum total of what we know about Reverse My Fees and the allegations made privately about its practices, we will refrain from assigning it a rating in this section. Moving forward, we will rely heavily on verifiable merchant feedback when it comes to filling in the details of its service and the rating it should receive.

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Response from Reverse My Fees

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Reverse My Fees Complaints & Customer Reviews

Key Points

Total Online Complaints <10
Live Customer Support Unknown
Most Common Complaint N/A

No Public Complaints

With the exception of a single private correspondence that we have received, we are unable to locate any negative Reverse My Fees reviews that accuse the company of being a scam or a ripoff. Reverse My Fees is still a very new brand with multiple DBAs and an unorthodox approach, so it is possible that it hasn’t developed a large enough user base to generate public feedback. It’s also possible that some complaints intended for Reverse My Fees have found their way to the public profiles of EXS LA or Total Merchant Services instead. In the absence of any evidence of customer dissatisfaction, we would typically assign Reverse My Fees an “A” rating in this category.

Reverse My Fees Lawsuits

We have not found any outstanding class-action lawsuits or FTC complaints filed against Reverse My Fees. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.

Reverse My Fees Customer Support Options

Reverse My Fees and EXS LA do not list any dedicated customer support contact information on their websites, but it is possible that Total Merchant Services supplies 24/7 customer support for their customers. This level of support falls short of our expectations of the top-rated payment processors for great customer service.

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Response from Reverse My Fees

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Reverse My Fees BBB Rating Summary

Key Points - BBB

Product & Service Complaints 0
Billing & Collection Complaints 0
Advertising & Sales Complaints 0
Guarantee & Warranty Complaints 0
Delivery Complaints 0

Clean Complaint Record

The Better Business Bureau currently gives Reverse My Fees an “A+” rating and has accredited the company since August 2018. Reverse My Fees has received zero complaints since its BBB profile was created in April 2018. It has also received one positive informal review, but these reviews are not subject to verification by the BBB.

An “A” Performance

Considering the company’s clean complaint record, we feel that the BBB’s rating is justified. However, merchants should be aware that there are good reasons to be skeptical of the BBB’s rating system.

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Response from Reverse My Fees

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Truth In Marketing & Advertising

Key Points

Employs Independent Resellers Yes
Advertises Deceptive Rates No
Discloses All Important Terms No

Zero Fee Processing Explained

The pricing structure used by Reverse My Fees is made possible by a 2013 legal settlement between a group of merchants and the major credit card brands. This settlement granted merchants 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. We will discuss Reverse My Fees’ unusual pricing approach in greater detail below.

Look Past The Ads

At first glance, Reverse My Fees’s marketing language about “reversing” fees and “zero-cost” processing appears highly suspicious and unrealistic. In reality, these descriptions aren’t entirely accurate since nothing is really being reversed and each merchant’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.

No Sales Complaints

Similarly, we are unable to locate any Reverse My Fees complaints that describe negative experiences with the company’s sales agents. There are also no complaints filed against EXS LA, although Total Merchant Services has a low-to-moderate number of complaints. Given the lack of any 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.

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Response from Reverse My Fees

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Our Opinion of Reverse My Fees

An Interesting Option

We are withholding an overall rating for Reverse My Fees at this time due to the company’s brief time in business, unusual pricing strategy, and lack of public merchant feedback. At first glance, the company’s pricing seems like an interesting option for merchants who are willing to surcharge their customers, but it also has the potential to generate some unacceptably high markups for Reverse My Fees. Merchants who wish to have a better understanding of the company’s pricing model should study the benefits and drawbacks of cash discount and zero fee programs.

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Why I'm Qualified to Write About Credit Card Processing

I'm a former credit card processing sales director who left the industry to start my own a small business. From the time that I starting working in the merchant services industry to when I left to write about it, I've been on the pulse of payments for nearly 15 years. It didn't seem fair to keep this insider knowledge to myself, so built this website to help small business owners research which service providers to use and how to save money on rates and fees. I've reviewed hundreds of companies, read thousands of user reviews, and learned the pricing tricks of every provider. If you have questions about credit card processing, you can find the answers here. I can help you save money with your current merchant account or help you find a new one. Message me here to get started.

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