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 article of Reverse My Fees, we'll look at this merchant account provider, which is a subsidiary of Electronic Exchange Systems LA (EXS). Registered in Louisiana in June 2016, EXS LA is an ISO of Total Merchant Services and also operates a Florida-based DBA called ReversePAY.
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.
Reverse My Fees offers most standard payment processing services
Reverse My Fees Customer Reviews
Here's What Their Clients Say
Customer Reviews Summary
Total Online Complaints
<10
Live Customer Support
Unknown
Most Common Complaint
N/A
Recent Lawsuits
No
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.
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.
Legal Affairs and Regulatory Oversight
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.
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.
Reverse My Fees Customer Service Number
(888) 226-5926 – Toll-Free General Customer Service
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.
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.
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.
It is unlikely that “zero cost” will actually result in no money paid
Our Reverse My Fees Review Summary
Our Final Thoughts
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.
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.
If you found this article helpful, please share it!
In the late 2000s, as a broke college student struggling to make ends meet, I was contacted by a merchant services company after uploading my resume to a job listings website. This company promised substantial commissions and ongoing residual income for simply persuading businesses to accept credit card payments. It seemed straightforward enough—after all, what business doesn’t need to process credit card payments? Following a phone interview with a persuasive “sales director,” I found myself embarking on what I believed would be an easy job that would significantly boost my bank account with reliable monthly income and large sales commissions. However, the lessons I learned would profoundly change my life in ways I could never have imagined.
After completing my sales training, I hit the ground running, eager to make sales. This broke college student was determined to improve his financial situation! My first attempt at a cold call, with no prior appointment, ended with a burly man in his 50s yelling at me to leave, claiming he had been “totally robbed” by someone like me before. As I hastily exited, puzzled and intimidated by his reaction, I couldn’t help but wonder what he meant. Throughout the day, I encountered similar hostility from other business owners, all expressing disdain for the industry I had been so excited to join that morning. Confused and curious, I decided to shift my approach from selling to listening.
I quickly uncovered that the merchant services sector was riddled with unethical practices, including hidden fees, deceptive marketing, fine-print traps, and much more. It dawned on me that I had nearly been tricked by a dubious company into selling overpriced services under contracts with long-term commitments, all without being fully aware of what I was promoting. Outraged, I resigned from that company but learned that there were indeed ethical credit card processing companies that treated their clients fairly. Over the next four years, I worked for one such company, assisting hundreds of businesses in securing cost-effective processing solutions. Yet, I also met many more who had been misled and trapped in onerous service agreements. Determined to help people steer clear of these unscrupulous providers, I launched this website in my spare time, dedicating myself to researching and sharing my findings on every merchant account provider I could investigate.
Gradually, more and more business owners began to discover my articles. As word spread, search engines started to rank my content highly, amplifying its reach. My efforts were making a difference! Eventually, the website garnered enough traffic to enable me to leave my job and focus on it full-time, a journey that has now spanned over a decade. This path has not been without its challenges; unscrupulous company owners have tried to intimidate and sue me into silence on several occasions. Yet, I have stood firm against each threat. Here I am, continuing to publish reviews and articles, hoping to safeguard others from the pitfalls of the credit card processing industry.
If you believe in my mission and wish to contribute, please share my articles on your websites and social media. Thank you for visiting!
Testimonials & Complaints
How Did Reverse My Fees Treat You?
7 User Reviews
Ferdinand
Horrible customer service. No communication & doesn’t care about their customers.
John Clayton
JC’s Towing LLC
What about the $119.99 PCI Yearly fee? Also, some merchants are being paid a kickback of the profits earned on that 4%. Are you in that group?
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.
John Rhett
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!!!
Phillip CPO
Hi John, please provide the name and location of your business to authenticate your testimonial. Thank you!
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Ferdinand
Horrible customer service. No communication & doesn’t care about their customers.
John Clayton
What about the $119.99 PCI Yearly fee? Also, some merchants are being paid a kickback of the profits earned on that 4%. Are you in that group?
Tanya
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
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.
John Rhett
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!!!
Phillip CPO
Hi John, please provide the name and location of your business to authenticate your testimonial. Thank you!
Michael Wimberly
Great Review John Rhett!