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RTS Financials Review

Factoring Fee of 1% to 4% on invoices.

4
Rated 4 out of 5
4 out of 5 stars (based on 4 reviews)
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RTS Factoring Intro:

RTS is a privately held nonrecourse factoring company founded in 1995, providing factoring services to freight or trucking companies and owner operators. RTS focuses on the trucking industry as evident from its service portfolio which is a fuel card program, equipment leasing, and various trucking-related software.

RTS Factoring Mission:
RTS fuel card tries to level the playing field for small fleets and owner-operators by giving big discounts which only large fleets get.
Once you factor an invoice with RTS Financial, it will advance you up to 97% of the total amount. This is a higher amount than the vast majority of factoring companies we reviewed will advance to you, giving you more cash in hand to solve your cash flow problems.
Once you factor in with RTS, they will advance up to 97% of your invoice amount. This means you get more cash in your account compared to other factoring companies.
RTS Factoring Benefits
Another major benefit of working with RTS Financial is that it does not charge hidden fees, such as volume fees, ACH fees, or invoice-upload fees. Unfortunately, though, it does not publish its fee for factoring your invoices on its website, and the customer support representatives we spoke to were unwilling to divulge this information without an application. The average rate for the industry is 1% to 5% of the total invoice value, which is what you should expect. The best factoring services offer rates below 1.5%.

RTS Factoring Mission:

RTS fuel card tries to level the playing field for small fleets and owner-operators by giving big discounts which only large fleets get.

Once you factor an invoice with RTS Financial, it will advance you up to 97% of the total amount. This is a higher amount than the vast majority of factoring companies we reviewed will advance to you, giving you more cash in hand to solve your cash flow problems. 

Once you factor in with RTS, they will advance up to 97% of your invoice amount. This means you get more cash in your account compared to other factoring companies. 

RTS Factoring Benefits

Another major benefit of working with RTS Financial is that it does not charge hidden fees, such as volume fees, ACH fees, or invoice-upload fees. The average rate for the industry is 1% to 5% of the total invoice value, which is what you should expect. The best factoring services offer rates below 1.5%. 

RTS Extra Perks

Because RTS Financial specializes in the freight and trucking industry, it offers some services beyond factoring for this type of company. For example, it has a fuel card program that saves an average of 18 cents per gallon and provides a line of credit up to $2,500 per truck per week. This program also provides fuel discounts at hundreds of stations across the country.

RTS’ approach is very straightforward, they specialize in simple and transparent freight and trucking factoring. There are no hidden fees or other extra costs, their rates are minimal. Their fast and responsive customer service makes customers stick with them. 

  • If you’re looking for a same-day funding solution, our representatives are dedicated to getting you paid within 24 hours. 
  • With our competitive advance rates, you’ll get more of your money – and with our scalable funding options, you can get the funding you need to grow your business. 
  • Plus, there are no hidden fees – including no ACH fees or invoice-uploading fees. 
  • And our fuel card program provides substantial savings at over 2,000 locations nationwide, with credit lines of up to $2,500 per truck, per week. 
  • You can also upload invoices and manage your account online – it’s easy and convenient. 
  • Plus, we offer discounts for U.S. veterans. All new veterans who become RTS customers are eligible for extra discounts.

RTS and Pilot Fying J is combining fuel, funding, and essential services at competitive rates to offer customers like you a fuel and factoring bundle to augment your business. 

  • With this bundle, you’ll get access to competitive pricing and fuel savings at more than 750 fueling locations across the Pilot Flying J Travel Center network and the One9 Fuel Network. 
  • This combo also provides same-day funding with no hidden fees. 
  • Plus, you’ll be able to take advantage of our loyalty rewards program and perks, including free credit checks on over 85,000 brokers and shippers. 

Because RTS Financial specializes in the freight and trucking industry, it offers some services beyond factoring for this type of company. For example, it has a fuel card program that saves an average of 25 cents per gallon and provides a line of credit up to $2,500 per truck per week. This program also provides fuel discounts at hundreds of stations across the country.

If you’re looking for a same-day funding solution, our representatives are dedicated to getting you paid within 24 hours.

  • With our competitive advance rates, you’ll get more of your money – and with our scalable funding options, you can get the funding you need to grow your business.
  • Plus, there are no hidden fees – including no ACH fees or invoice-uploading fees.
  • And our fuel card program provides substantial savings at over 2,000 locations nationwide, with credit lines of up to $2,500 per truck, per week.
  • You can also upload invoices and manage your account online – it’s easy and convenient.
  • Plus, we offer discounts for U.S. veterans. All new veterans who become RTS customers are eligible for extra discounts.

Invoice advance rate RTS charges:

Once you factor in with RTS, they will advance up to 97% of your invoice amount. This means you get more cash in your account compared to other factoring companies’ advance rates. 

Factoring rate and hidden charges RTS charges:

One benefit of working with RTS is that they do not charge hidden fees. Such as invoice upload fees, ACH or Wire fees, and invoice volume fees. You will have to fill up a factoring form to know the factoring fee, which is not available on the website or the customer service reps will not give it to you. The average factoring rate is between 1% to 5% and a very good factor will give you rates below 2%

Special programs like fuel cards, fuel line of credit, and discounts are available for RTS customers:

RTS specializes in providing factoring to the freight and trucking industry. So you get trucking-specific services like fuel card, fuel line of credit, maintenance, and tire change discounts. 

We found that they provide a fuel card with average 18 cents per gallon discount. RTS also provides a line of credit of up to $2,500 per truck per week. RTS program provides discounts at hundreds of stations across the USA.

RTS also provides trucking management software:

RTS software helps you to manage your trucking company including your factoring agreement with RTS Financial.

RTS also provides non-recourse factoring:

RTS Financial provides you with nonrecourse factoring, which means you don’t have to take the liability of your customer not paying invoices or bills on time. 

These are features of RTS financials that make it a super option for freight factoring. 

  • Provides non-recourse factoring
  • Up to 97 percent of invoice value paid after discount
  • Truck leasing options
  • Fuel card program with a big credit line
  • Fleet management and Trucking-related software
  • Simple to use mobile app
  • Great customer support via email, phone, and online chat

Our reviewers found that customers often point out that RTS financials has a very low factoring rate. As a matter of fact, is that truckers and owner operators are able to get up to 97% of the value of their invoice upfront.

There is a nagging lack of transparency about pricing when it comes to RTS. If you talk with the relationship managers, you would be able to know exactly what are you paying the fee for. Few customers had issues with leaving the contract, some customer reviews point to that fact.

RTS Contract information sharing:

Also, you won’t be able to apply to factoring online. You need to speak to a sales representative to customize your factoring options.

There is a lack of information and easiness in the application for RTS factoring services. you need to talk to an RTS customer to generate a quote and see the features of the custom factoring. Their app or portal doesn’t disclose pricing and other important term and conditions relating to the factoring contract.

The factoring contract for truckers and owner-operators does not have any minimum requirements relating to the invoice value.

RTS customer support:

We found out by contacting them by posing as customers, and we found many a detail about their factoring service, from the customer rep. We also found out that they don’t divulge information on factoring fees before the contract is signed.

Other than phone, app and chat support, they also provide a robust chatbot that answers your customer support questions. The company is responsive and will get in contact with you quickly.

Factoring contract needs to be discussed and negotiated directly with the relationship manager or customer support staff. There is no way to get a factoring contract using online tools. This is inconvenient to many drivers or truckers.

User Reviews of RTS Financials

4
Rated 4 out of 5
4 out of 5 stars (based on 4 reviews)
Excellent25%
Very good50%
Average25%
Poor0%
Terrible0%

Latest Reviews of RTS Financials

Don’t gave wrong assurance.

Rated 3 out of 5

It’s really hard to connect RTS factoring and they won’t fund all of the invoices.

Alfred Adam

Poor customer service

Rated 4 out of 5

Poor customer service. There is always an excuse to hold money or deny an invoice every week.

Joseph

hidden charges

Rated 4 out of 5

They have hidden fees. They charged me more than 3% and they make you collect funds on receivables they purchase from you. They hold funds. they don’t respond on time . You have to ask for your funds. They are unprofessional .

Louie Tom

RTS Financials Review

Rated 5 out of 5

Good factoring, frim they have a good factoring program. Niece insurance plus factoring company, TMS tool, and good fuel card also.

Candor Richards

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