Reviews

Review Details

• Review fromJohn S

  Date: 06/25/2024

  1 star
  They will put your invoices on pending for a long time days and weeks without making follow up
  Lazy, do not like giving direct emails and phone numbers. They shield themselves in team emails, difficult to get answers lack of communication. Slow at sending payments in summary not reliable. They like to hold your money as much and as long as possible

• Review fromLena T

  Date: 06/25/2024

  1 star
  I am seriously unhappy with the way RTS has handled our account. Initially, we agreed to a 3% fee, which was reasonable. However, RTS later added a 3% collateral hold, which we accepted despite the negative impact on our cash flow.
  
  Our company runs partials and power-only loads with team drivers for our two trucks. Despite having no claims in the past year, RTS has now imposed a 10% cap on loads we can handle with any single broker. This restriction is detrimental to our established broker relationships and makes it difficult to maintain our business operations.
  
  The brokers we work with are reliable and pay on time, and the existing 3% collateral hold already mitigates any risk. The additional 10% cap is unnecessary and overly restrictive. When I requested these changes in writing, RTS refused and insisted on discussing them verbally, which raises concerns about transparency.
  
  Even our factoring representative agrees that the 10% cap is unreasonable, but management has been uncooperative. We’ve maintained a positive relationship with RTS, and any rare short pays have been promptly covered from our reserves.
  
  Overall, the new policy is unfair and disrupts our business. I am very disappointed with RTS's lack of flexibility and support. I strongly advise other carriers to be cautious and consider these issues before choosing RTS for their factoring needs.

• Review fromSukru Temucin A

  Date: 05/28/2024

  1 star
  AVOID THIS COMPANY AT ALL COSTS, EVEN IF THEY OFFER FACTORING AT 0.5%!
  I have been working with RTS Financial for a little over a year, and unfortunately, my company has faced numerous challenges and nearly lost everything multiple times due to their absurd rules and practices.
  
  One significant issue was when they held my money because my insurance was pending cancellation. Despite my requests to release my funds so I could pay and keep my insurance active, they refused. They insisted on dictating how I should use my own money. My insurance company would not accept payment from any other account since it's commercial insurance. Even after involving an RTS supervisor in a three-way call with the insurance company and providing written confirmation, they still refused to pay, citing their contract's terms that allow them to block my funds at their discretion.
  
  Another frustrating example is their repeated failure to comply with our payment preferences. We have informed them over 10 times that we only work with wire transfers and have a special note in our account stating this. Yet, every long weekend or holiday, they deliberately process ACH payments, holding our money for days.
  
  When I requested a change in my account representative, they mocked me, moved me from team 67 to team 64, which is ten times worse, and made even more mistakes. We have a contract for a 1.40% rate, but for the last three months, they have been charging us 2.50%. When I inquired, they claimed it was a "bundle deal" that included a fuel card and factoring, both of which we were already using during the time they charged the higher amount.
  
  I have been trying to reach my account rep, Tanner Wall, since March 11, 2024. Despite my calls, text messages, and numerous voicemails left with team 64, no one has responded. It seems either no one knows who my account rep is, or they are deliberately ignoring me.

• Review fromErol K

  Date: 05/19/2024

  1 star
  THEY ARE MAFIA
  I signed a contract with RTS financial factoring company a few days ago. But RTS wants a million dollar insurance policy and they want to get a certificate but my insurance policy is $750,000 and it's legal. That's why RTS doesn't do my job and doesn't cancel. On the contrary, they act like a mafia.
  I asked two other factoring companies if they wanted to have a million-dollar insurance policy and certificate like RTS, and they said no. "Apex factoring and Haulpay factoring"
  They do not comply with IFA's Code of Ethics 6

• Review fromBrandi E

  Date: 05/14/2024

  1 star
  They don't even deserve 1 star. This company is a joke and horrible to do business with. We initially liked Ryan which whom we had spoke to on the phone several times. However, after signing up with them all the "hidden fees and charges" they promised not to have started surfacing. Then when we informed them we was no longer interested in doing business with them they refused to release us, I'm assuming they didn't want to pay the UCC fees. Regardless, they are very unprofessional and untrustworthy.

• Review fromTheodoros S

  Date: 05/10/2024

  1 star
  We are a new carrier in the transportation business. While looking for a factoring company, we discussed a potential contract with Mr. Johel O*** from RTS. However, upon receiving the contract, we found many of the terms, costs, and cancellation provisions to be unappealing. Therefore, we declined to sign.
  Today, after exploring options with another company, we were notified that RTS has placed a lien on our company despite never having a signed contract. We believe this is retaliation for not signing their contract and requesting immediate removal of the lien.
  We never entered into a business relationship with RTS and, after this experience, would not recommend them to anyone.

• Review fromJoe E

  Date: 05/09/2024

  1 star
  From a broker's perspective, RTS is absolutely horrendous. We send checks bi-weekly, due to the volume we do with carrier's that factor through RTS. RTS regularly tells carriers that we have a low rating. Our bill are always paid and paid on time. If it hasn't been managed it's because the carrier failed to send POD, BOL etc.. which happens very rarely. We have started offering ACH upon delivery o carrier's who factor with RTS, due to this ongoing issue. This has become such an issue, that other brokers are discussing this in forums. It is an absolutely abusive system and effects carriers, as they lose out on opportunities to move freight with people who regularly PAY RTS. I warn against RTS to any and all carriers, and suggest they visit BBB to see all of the terrible reviews left by people in all sorts of positions across the industry. Unacceptable abuse of power.

• Review fromSantiago M

  Date: 05/07/2024

  1 star
  My experience with RTS factoring has been disappointing. Initially, I was assured by my representative that I could leave anytime without any issues. However, when I decided to switch, I encountered difficulties and inconsistencies in the process. Despite reaching out to multiple individuals, I received conflicting information and experienced a lack of responsiveness. Additionally, I was surprised to learn about a $1500 fee for early termination, which was not communicated upfront. This discrepancy has left me feeling frustrated and dissatisfied with the level of service provided. I hope that RTS factoring can address these issues and improve their communication and transparency in the future.

• Review fromKenneth C

  Date: 04/24/2024

  5 stars
  I have not had any issues with them. But just like any financial agreements read and understand the terms of agreement.

• Review fromJHmal M

  Date: 04/17/2024

  1 star
  ?? DO NOT factor with this company! ??
  This is a shady company that I obviously pays trucking Youtubers to mention them on their videos… I was completely bamboozled by RTS agent Johanna M******….when I made the first phone call. I specifically asked her what are the requirements and how does the company work exactly…. She told me all they charge is 4.7% with no fees or anything unless the broker doesn’t pay… what they will fail to tell you is that there is a $1000 charge for an escrow account that they will be taking out of your first load or loads. They will either take the full $1000 off your first load (without you having any clue about it). Or they will take $250 off your first four loads, and there is nothing you can do about it. If you try to sign up with a new company, they will deny your buyout. Your agent will stop answering your phone calls and won’t return any of your messages. You will try to call the main number and get management and they will give you the runaround. Them not being transparent with me about the $1000 escrow account charge cost me my business within the first week. I am absolutely livid, and will make it my business that every review forum about this company will see my story. I invested every penny I had into starting my own authority, and because of RTS, my business didn’t last a week before I had to shut down. As you could imagine, because I was renting a truck, I couldn’t afford my first weeks rental because of the $1000 loss from that week and didn’t have the gas & hotel money to take more than two loads… Do not factor with this company. There are companies out there that will not charge you escrow or anything in your first week besides their percentage. I can name some companies, but I want people that read this thread to know that I am a real person and not someone just advertising for another company. Do not factor with RTS.??????