Reverse My Fees Merchant Services 2023: Reviews & Complaints

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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. 

Company Overview

Reverse My Fees is a merchant account provider and a subsidiary of Electronic Exchange Systems LA (EXS) 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.

Reverse My Fees Payment Processing

Reverse My Fees primarily offers zero-fee processing, which charges a business’ customers a convenience fee of up to 4% in the form of a surcharge for using a credit card for payment. It then gives the proceeds from these convenience fees directly to merchants to negate the cost of interchange. However, is it possible that the merchant any only be reimbursed the actual Interchange cost while the remaining surcharge is kept by Reverse My Fees. For example if the Interchange fee is 2% but the surcharge is 3%, then the business is reimbursed 2% while Reverse My Fees keeps the remaining 1%. In effect, Reverse My Fees shift the costs of interchange fees directly to customers while profiting from the remainders of the surcharge.

For offline services, RMF provides Point of Sale integration and check support. For online services, RMF provides internet accounts, chargeback support, and various kinds of online payment processing; credit and debit cards, e-checks, ACH payments, e-wallets, and mobile payments. They also lease processing equipment and offer a cash advance program.

Cash Discount Program

Reverse My Fees offers a cash discount program that allows businesses to offset the cost of credit card processing fees by passing those fees on to customers who choose to pay with a credit card. This program is legal in all 50 states and can save businesses thousands of dollars per year in processing fees.

Equipment Leasing

Reverse My Fees provides equipment leasing options for businesses that need credit card processing equipment. They offer a range of options that can be customized to meet the needs of any business, from small start-ups to large corporations.

Chargeback Mitigation

Chargebacks can be a major headache for businesses, but Reverse My Fees offers chargeback mitigation services that can help minimize the impact of these disputes. They work with businesses to develop strategies for preventing chargebacks and offer support throughout the dispute resolution process.

Merchant Cash Advance

For businesses that need cash quickly, Reverse My Fees provides merchant cash advance services. This allows businesses to access a portion of their future credit card sales in exchange for a lump sum payment upfront. This can be a useful option for businesses that need to make a large purchase or cover unexpected expenses.

Online Payment Processing by Reverse My Fees

Reverse My Fees offers online payment processing solutions, helping businesses to easily handle ecommerce transactions. The system supports multiple payment types and provides secure and quick processing of online payments.

Mobile Payment Solutions with Reverse My Fees

For businesses seeking flexibility, Reverse My Fees offers mobile payment solutions. This service provides a secure and fast method for processing credit card transactions from a smartphone or tablet, ideal for businesses that operate outside a traditional storefront.

Security Measures in Place at Reverse My Fees

Security is a significant aspect of Reverse My Fees’ operations. The company utilizes advanced encryption technologies to protect sensitive data and ensure all transactions are secure. Adherence to Payment Card Industry Data Security Standard (PCI DSS) regulations is a cornerstone of their commitment to secure processing.

Location & Ownership

Richard Suhm is the CEO and co-founder and Laura Suhm is general manager of Reverse My Fees, which is headquartered at 519 N Causeway Blvd, Mandeville, LA 70448. The BBB also lists the company at 417 N Theard St. Covington, LA 70433.

Table of Contents

Reverse My Fees payment processing
Reverse My Fees offers most standard payment processing services

Reverse My Fees Customer Reviews

Here's What Their Clients Say

Customer Reviews Summary
Item Result
Total Online Complaints <10
Live Customer Support Unknown
Most Common Complaint N/A
Recent Lawsuits No

Public Complaints

We have found a single negative Reverse My Fees review regarding an unexpected account closure due to low processing volume. Reverse My Fees is still a very new processor 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 a Reverse My Fees complaint could have found its way to the public profiles of EXS 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. If you have your own Reverse My Fees review to make, please do so in the comments below.

Legal Threats

We have received reports from anonymous sources that Richard Suhm and Jody Goche have threatened legal action for reporting Reverse My Fees for allowing improper surcharging of debit card transactions. Visa and MasterCard both prohibit surcharging of debit cards and laws for such surcharging vary from state-to-state. Businesses that inadvertently surcharge debit cards may incur penalties and legal recourse and are at risk of losing their ability to accept card payments altogether. Business owners are advised to ensure that any card surcharging is done in accordance with state laws and card brand policies. Additionally, Richard Suhm has contacted this website on multiple occasions attempting to coerce the removal of this review through the threat of legal action.

Reverse My Fees Lawsuits and Fines

We have not found any outstanding class-action lawsuits or FTC complaints filed against Reverse My Fees. Dissatisfied clients 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 offers phone, email, and contact form support on their website. Their hours of operation are M-F 8am-8pm.

Reverse My Fees Customer Service Number

  • (888) 226-5926 – Toll-Free General Customer Service

Other Support Options

This level of support is better than it previously was but is still not quite up to the standards of our top-rated payment processors for great customer service.

Reverse My Fees Online Ratings

Here's How They Rate Online

Online Ratings Summary
Item Result
BBB Rating N/A
Average Rating N/A

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

“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.”
– Complaint from August 23, 2022

Positive Feedback

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

Source: Better Business Bureau

Reverse My Fees Fees, Rates & Costs

A Closer Look at The Contract

Cost & Fees Summary
Item Result
Cancellation Penalties Unclear
Monthly & Annual Fees Yes
Processing Rates 4% - Interchange Fees
Equipment Leasing Yes

Reverse My Fees Monthly Costs

As outlined above, Reverse My Fees charges clients 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 business owner. As a result, the business 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 Reverse My Fees fees plus the difference between 4% and the company’s surcharges will constitute Reverse My Fees’ profit on a business’ account.

Other Contract Terms

There are still some undisclosed elements of the Reverse My Fees contract that can heavily impact a client’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 business 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 clients 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 businesses 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 business’ 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 business according to state laws. It is our belief that Reverse My Fees has an obligation to assist its clients with proper signage and disclosure in all cases. Furthermore, businesses that 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 clients, and does not give card brands the 30 days’ notice that they require to add surcharges. However, we have seen no public Reverse My Fees complaints that corroborate these claims. If they are true, then Reverse My Fees could potentially be exposing its clients 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 business owners 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 client feedback when it comes to filling in the details of its service and the rating it should receive. We also encourage business owners to check out our list of the providers of the best merchant accounts.

Reverse My Fees Employee Reviews & Sales Tacitcs

Should You Work For Them?

Jobs & Marketing Summary
Item Result
Employs Independent Resellers Yes
Telemarketing Unclear
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 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

Our Reverse My Fees Review Summary

Our Final Thoughts

We have assigned Reverse My Fees a 2-star rating solely based upon the actions of the credit card processing company’s CEO towards this website. We originally withheld a rating for Reverse My Fees due to the company’s brief time in business, unusual pricing strategy, and lack of public client feedback. At first glance, the company’s pricing seems like an interesting option for businesses who are willing to surcharge their customers, but it also has the potential to generate some unacceptably high markups for Reverse My Fees. Business owners 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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Your Comments & Reviews

How Did Reverse My Fees Treat You?

5 Responses

  • Tanya

    Lumberjack's Soul Food Louisiana 4310 Moss St. Lafayette, La

    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

    • Lynn

      Pet Connection

      I am interested in using this service. Can you tell me how the fees are disclosed to the customer? There is one processor that has me ring it up on a separate register and then run the total on the credit card machine. It does not disclose the fee anywhere on the receipt on the terminal so what comes up on my register is not what they are charged. I have read the fee must be disclosed via signage and on the receipt.

  • I’ve been with RMF for 2 years now and I don’t pay any monthly fees or processing fees. My statement reads $0.00. They charge the customer 4%, which I think is reasonable considering I was paying around 6% with all the fees I was charged. My rep has been wonderful, Mike Wimberly, and is always readily available to tackle any of my issues. I have nothing lost any business and my sales are steady. The customer service is top notch and Mr Suhm is a nice guy. I recommend Reverse My Fees and would not switch to another processor. Heck, not having to pay over $1200/month is sweet!!!

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