Reviews

Review Details

• Review fromStephanie G

  Date: 07/15/2024

  This is the worst financial company out there. I recently purchased a company that had a contract with RTS, and I have been asking RTS to release my company so that I can start working with my new company. The reason why I am asking for the release is because I never signed any contract with them as I am now the new owner. I did talk to them a couple of times and sent them all documents requested. They asked for a letter of release, a bill of sale, and my ID as proof of identification. After everything was sent they are now telling me that my company cannot and will not be released. They are holding me hostage now and they wont release me. Since I am the new owner I do not have any sort of contract with them and now I will have to take this to legal matters in order for them to release my company.
  The reason why I am giving them a one star is because I cannot give them a zero.
  AVOID THIS COMPANY!!!

• Review fromEmil I

  Date: 06/26/2024

  I changed my mind before the contract begin, and they not allow me to choose the company what I want, I feel like I’m already like a hostage , they said that you signed the preparation contract but I have a time to end my current factoring , this is not right to force the people, I want to choose factoring during the time of open window before the contract ends, but I can’t, how it’s working I don’t understand why they force people and don’t give a choice, please be aware!

• Review fromGernaro G

  Date: 06/26/2024

  This company has no professional skills. They take control of small trucking companies and run them out of business. Avoid the factoring company at all costs

• Review fromJohn S

  Date: 06/25/2024

  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

  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

  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

  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

  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

  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

  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.