The Interchange Brokerage Company review: The interchange Brokerage Company/ Dave Toney 88

I strongly disagee with your opinion and think ICB is a godsend.

I once worked for a credit card processor who I met the interchange brokearge company through and they were able to make a HUGE difference for the customer simply by changing things with their CURRENT processor. How is this a scam? They are consultants who review merchant statements so that the customer gets the BEST deal. the ONLY ones who are not happy with their arrival on the scene are PROCESSORS who are price gouging. Maybe you could explain WHY you feel that its a scam rather than try to discredit the only company who is giving merchants options.

They have saved over three million for their customers already? http://www.stophiddenfees.com/ look for yourself

First of all, Jessica I noticed you joined this group about a week ago. The message you are giving is that this company is a scam. What is your personal history with them? Why have you said what you said? I am actually involved with Interchange and I have found them to be quite reputable. There is a weekly conference every week and we actually discuss the business model and what is happening. I doubt very much you put any effort, if in fact, you joined this company. It is better to have a personal experience to share with the public so you can warn us as to why there is a problem. Of course, just saying a company is a scam doesn't help anyone now does it?

Oh geez. Okay. If you're going to slander an organization, please, please, please back it up with hard evidence. Did they hijack your bank account? Did they sell your identity to the Russian Mafia? What did they do?

I am an agent with KV Management (the marketing arm of IBC) and please, go tell one of our large clients, who are seeing thousands of dollars in savings per month on THEIR merchant credit card statements (numbers don't lie), that we are scamming them and how we are doing it. Please.

I have worked so many business scams in the past, I cannot even tell you. KV Management has been a lifesaver to me. I work 7 days a week, and I am blessed every day, because this is a REAL opportunity. I've even set up a blog to help show people looking for an opportunity how to tell the difference between an opportunity and a scam. Please check it out: http://www.kvmcareer.com

Not every opportunity is the right opportunity for everyone. But if you can't back up your slander, then it just makes you look like a fool.

Where does it say anything in my posting that I said it's a SCAM? Sounds like all of you are jumping to conclusions already. Good for you! Maybe you will see it's not worth your time to work for IBC. PEOPLE LISTEN UP! JUST BREAK DOWN THE BUSINESS MODEL! ASK THE RIGHT QUESTIONS AND IF YOU DON"T GET A STRAIGHT FORWARD ANSWER WALK AWAY! YOU WILL SEE WHAT I MEAN!

OVER ALL! If you really want to make a BIG change with the merchant fees and if you are a small business owner then I suggest contacting your Senators or Congressperson. They will fight for you in Washington DC. My only thinking is if they should succeed and fix the fees issues. Then what does that mean to Interchange Brokerage Company? Seems to me they would go out of business! DO you think they really want that? $55 dollars per rep, $69 upfront fees, and 50% of the recovery all adds up.

ALSO ONE LAST THING! If you are the marketing arm of IBC (posting above) why the hell would you be responding the way you did to a small little posting on complaint board. Not professional at all. Russia Mafia? What? Plus you stated that you have worked so many business scams in the past. REALLY? Why would you want to state that and let people know that IBC marketing Arm worked around scams before? You ever heard of guilty by association? Your credibility is lost! If you are the Marketing arm of IBC then its more of a reason to not work for an unprofessional organization like you. PLUS! You should now as a marketing person that more attention and posting on this site will move it up to the top of Google search which in return will pop up when you Google IBC website! It’s a complaint board website! There is no slander here only complaints and helping people be aware of situations! I would think somebody who is the marketing arm of IBC would be responding to bigger issues then a small 8 sentence posting. Just a point and good luck to you!

"BEWARE! Avoid at all costs!" - your words. Why? What should I beware of? What am I avoiding? IBC going out of business? Are you serious? If you had paid attention to the training on the Rate Lock service during your tenure with IBC, you would have seen that they are not eliminating the interchange fees, we are OPTIMIZING them.

Credit card processors have no incentive to go through a merchant's monthly statement to eliminate/modify itemized interchange fees to reflect the current active set of rules and regulations as set by the banks that have an ownership stake in Visa/MasterCard. EVEN IF the processing company optimized the interchange rates when the merchant signed on, these rates change twice a year, and no credit card processing company is going to put out the time and manpower to modify these fees on behalf of the merchants.

Result? The merchant's "optimized" interchange fees are suddenly no longer optimized and that's where IBC can help. If you've read the current petitions to Congress, you should also know that these petitions are only to promote legislation allowing a party representing merchants to participate in the bi-annual negotiations to change the Interchange rules and fees. If/when this sort of legislation passes, IBC will still have a market because these fees will STILL change at least twice a year, and no credit card processor will hire the manpower to modify them on the merchant's behalf.

Did you also know that IBC actively encourages the merchants they help to SIGN the petitions Congress? Check out www.stophiddenfees.com to see the list of merchants they've help to educate about the state of the Interchange.

Besides, as a KV Management agent, our main source of revenue is small business loans anyhow (not IBC). IBC is one of our partners, and I just happen not to like seeing erroneous "complaints" on a reputable company who is trying to make the world a better place (YES they're out to make a buck, but show me a for-profit company that isn't!)

Last, in my previous comment, I stated that I had worked many scam jobs in the past (as in "I was suckered into it"), allowing me the unique experience of knowing how to SPOT a scam from a mile away. In no way were ANY of these unscrupulous companies associated in ANY way with IBC. Your "guilty by association" charge is not only silly, it shows you don't read very well.

I HOPE this goes up on the Google charts, then people can see for themselves what a good service IBC is offering for American Merchants, and what a silly person you are.

Good luck to you!

Good luck to you too.

Why am I not surprise that you would write a long response back explaining how everything I say about IBC is wrong! Hopefully who ever reads this will see my point!

Listen! If Interchange Brokerage is saving merchant’s money (my hat goes off to them) and that’s great. BUT! AND HERE IS MY POINT FROM MY FIRST POSTING is that the business model they are using is stacked against the Independent contractors that have to join IBC and pay a fee every month! The business model does not work for you and will hardly benefit you who will be selling IBC services! That is why I say BEWARE and AVOID AT ALL COST!

If you are reading this and are looking into giving IBC your credit card information just remember there are many independent contractors jobs out there were they will not ask for your credit card number and charge it every month to work for them. If you question my posting please go and Google business types like this and it will direct you to mainstream network sites that have done reports on why to be aware of business models who ask for your money upfront! Make your own judgment on IBC put if I was you I would just spend your monthly fees to join IBC on yourself and your family!

One last thing that I have to mention! It is very interesting to me that IBC will not just have a petition to STOP overcharged fees to Merchants. I wonder why? Could it be that if a bill is pasted in Washington DC regarding stopping overcharged fees and stronger monitoring of them would hurt IBC and maybe put them out of business? That will explain why IBC has only one petition to only allow a party to sit inside for the merchant behalf! Just a thought!

Well, at least we're speaking to each other like civilized people now.

We can't just get rid of The Interchange because that's how Visa/MasterCard makes their money. If we get rid of the Interchange, we get rid of Visa/MasterCard. Merchants' beef isn't that they are paying Interchange fees, it is that these fees are increasing at a very fast rate, with no one to regulate how high they can go. Thus, businesses are requesting that they have a say in the negotiations to reign down these costs.

The passing of such legislation would not hinder IBC's services because the Interchange rules and rates will still be modified throughout the year, every year, and merchants will still need someone to monitor and make sure that what the are BEING charged matches with what they SHOULD be charged. Their credit card processing company does not have the incentive to provide this service because the Interchange fees are not a revenue stream for these companies (these fees go to Visa/MasterCard).

An opportunity is an opportunity. If you are afraid of the $55 monthly fee, then by all means pass. If you sign up and acquire one or two small accounts your first month (many agents sign up one or two a day if not more), you would have built enough residual income to cover this monthly fee, so going into your second month, you're essentially paying nothing.

My old college roommate is now and independent insurance agent. He had to put out over $7000 of his own money to become an agent and open his office. He now makes well over $250K per year. I didn't take advantage of this opportunity because I didn't have $7000 to invest in becoming an agent, so I passed. Does this make the insurance industry a bad deal? No... it just wasn't for me. The same goes for the $55 per month. If this is not something that you can afford or are willing to pay each month, then you don't have to. I have never pressured anyone to join our business. It is what it is, and what you make of this opportunity is your choice.

Hope that addresses everything, and I hope you found an opportunity that fit your needs and makes you happy!

Are you sure you are not Dave Toney? Very interesting how you have responded to each posting! In all my postings about IBC it has been about one thing and one thing only THE BUSINESS MODEL and how it is stacked against people who work for them (or should I say you Dave) but you always try and down play it and build up how wonderful IBC is and how strong IBC is and how they could never go out of business! I guess that is why IBC charges a fee to all there independent contractors to work for them. Once again please Just GOOGLE THE BUSINESS MODEL before making a decision to go with IBC and you will see why they all say to be very careful of this business set up. To be honest this really sounds like another MLM (multi-level marketing business) it's just sold to the people in a different way!

Well Dave or who ever you are this is the end of my postings as I think people who ever read this will understand my point. I am very happy that I didn't go with IBC and I did found another job as an independent contractor! AND guess what! I never had to give out my credit card and pay a fee before I even started working for them. To be honest, even when I was being interviewed by my new company they asked what other opportunities am I looking at and when I told them about IBC they laughed at how IBC wanted me to pay them to work as an independent contractor... Looking back at it! It’s kind of laughable that I would pay somebody to work for them! Well that is all and I am sure you want the last word so say what ever you want but my point is made! Good luck! And Godspeed!

there are so many mlm scams out there and this certainly appears to be one of them..$1 a day trial period? to work for a company as an independent contractor? what? come on!

the other is the one that supposedly sells low cost dental plans to people...then when you ask for more info on the job, all they do is try and sell you on the idea of obtaining more reps @ $45/per...and how much money you can make by doing that...oh, btw, don't forget to sign up and throw your $45 down the toilet. SUCKERS!

I don't see why a post was made to a "Complaints Board" when there was no actual complaint mentioned. All that was posted was an opinion that a particular company may be a scam. Maybe I misunderstood; so, just to be clear, what is the actual complaint? Did either of the companies mentioned here actually do anything that you can point to as a wrong or injustice to you or anyone else you know? If not, it doesn't seem fair that your initial post was even made. Maybe if there was a "In My Opinion, I Think This May Be A Scam, But I Have No Substantial Evidence To Prove That It Is Board" this would be a tangible post. LOL!

There seem to be some comments made that disagree with the first post here. I think it would be helpful to everyone that reads this page if you would identify what success you have had with the companies metioned here. How long have you been with the organization? How many clients have you gained and what are the names of their businesses? How much money do you make a month that justifies the cost of doing business for you?

Jessica,

Every business model that charges up front costs is not a scam or stacked against the agent. That comment indicates how limited or young you are or inexperienced or immature or easily influenced by competitive businesses who laugh at those who ask for up front monies. Ho, ho, ho is what they say because they don't do it and you were offended by it.

Not everyone has integrity and certainly asking for an up front investment may be a sign of a model that benefits the company and not the independent contractor. But, the reality is 1.) any company that has grown to $70 million in 2 years without SUBSTANTIAL complaints is definitely doing something right 2.) even the best companies have somewhere between 2-10% complaints monthly, 3.) it is up to the agent to do everything they can to make enough that $55/mo. is minuscule compared to what their earnings are with the company.

If this is not your [referred business model - don't do it. But, you have nothing to say but give an opinion. And, in this case your opinion has no substance. You are the classic example of white noise.

WHY WOULD YOU PAY A COMPANY TO WORK FOR THEM? RED FLAG! Don't listen to the other postings on here as I am sure they all have money invested in interchange brokerage company. JUST go and google upfront fee businesses and see what the media says about the business set up. Look at the facts of getting involved in upfront fee buisnesses. Save for money and spend it on yourself!

I just love how they all avoid talking about the business model for interchange brokerage company! They only talk about how great, wonderful, and powerful, Interchaqnge Brokerage is! COME ON! GIVE THE PEOPLE A BREAK HERE! YOU GUY (interchange brokerage comapny) just come across like every other upfront fee company out there. YOU NEVER talk about what you guys are really about!

Here is a great article from google search about upfront fee buisnesses!

If a job posting requires applicants to pay anything to apply or work for the hiring company, that should raise a red flag to you immediately as a position to avoid entirely. It's important to point out, however, that some legitimate companies will require applicants to pay for background checks or credit reports. Some of the largest virtual call center employers have this requirement, so if a job posting seems legitimate except for the upfront fee, take the time to research the company to learn more about them. Some of the best scammers put together very professional looking contracts, materials and websites with logos, contact information, etc. that look real. Don't be fooled by appearances. If something just doesn't seem right to you, it probably isn't. In fact, you're probably looking at a scam.

There is more info on google search! take your time and strongly think about it! IS INTERCHANGE BROKERAGE COMPANY a scam? I have no clue but having a upfront fee to work for them gives me a RED FLAG!

Here is more information to really think about! the posting above said that interchange brokerage company is a 70 million dollar business in two years! WOW! very impressive! SPECIALTY IN THIS ECOMONY! So I ask you this?

1. Interchange brokerage website is very amateur website. Maybe 3, 000- 5, 000 at most! DO YOU THINK A 70 MILLION DOLLAR BUSINESS WOULD HAVE A BASIC WEBSITE? ASK YOURSELF THAT?

2. SEO (SEARCH ENGINE OPTIMIZATION) is nothing more then a amatuer set up on google. PLEASE check the links when you google interchange brokerage company. Every link you click sends you back to there website or to a out of date webpage. 70 million dollar business? mmmmmmmm interesting! THIS IS STANDARD PRACTICES WHEN A COMPANY IS TRYING TO LOOK BIGGER THEN THEY ARE.

3. Where is the press? 70 million dollar business and there is no press and they say they are so wonderful, powerful, wealthy company . I would think they would have some PR press ON THE INTERNET! RED FLAG!

4. NO SOCIAL MEDIA SET-UPS? EVERY 70 MILLION DOLLAR BUSINESS HAS SOCIALMEDIA SET-UP. ITS THE BEST WAY IT TALK TO YOUR CUSTOIMERS! FOR EXAMPLE: LIKE FOLLOW US HERE ON FACEBOOK OR TWITTER ETC)) MMMMMMM INTERSTING FOR A 70 MILLION DOLLAR BUSINESS.

I COULD GO ON AND ON BUT I THINK THE PEOPLE GET THE POINT.

THERE IS NO CREDIBILITY AT ALL ANYWHERE ON THE INTERNET! VERY INTERESTING AGAIN FOR A 70 MILLION DOLLAR BUSINESS.

I came across this post when doing research pursuant to joining KVM. I suppose anyone paying money to a major franchise like McDonald's should also be aware of being robbed by the up-front fee and the ongoing royalties... silly banter. Obviously the amount of money posed (to the young lady) is sufficient to be wary of and to be avoided. If so, she is well advised to steer clear. However to lump everyone into the "beware" category insults the intelligence and judgment of ANYONE making an independent business decision regarding the degree of fit this business may have. I have not yet decided whether I will join in, but if I could not cover the cost of doing business of $100 or so and fit it into a profit scenario, then I or anyone would be ill-advised to consider represent this or any company that does not represent a reasonable opportunity for profitability.

The original post that started this string is nothing short of puerile hogwash.

Perhaps scam is too strong a word or an incorrect description. However, the individual that said to beware of any company that charges upfront and/or monthly fees is absolutely correct. KVM is building a quasi MLM organization. Ask yourself something, what VALUE are you receiving for that $55/month? Answer: NOTHING! Kyle and the folks on top of the pyramid are all getting a piece of that. And by the way, the fee is now $105/month. Also about those weekly conference calls: you should know that independent contractors have NO obligation to attend. If you're an IC you are your own boss. You answer to no managers, you report no activities to anybody. You are paid on sales results and that is all. Regarding their rate lock program, it is overrated. Only being able to "help" merchants doing over $10k/mo in CC sales cuts out too many small businesses. Their loan program is also overstated because too many merchants don't qualify. Remember folks, the devil's in the details.

SCAM is NOT too strong a word. In my opinion, it can't be strong enough. This IS a scam and Jessica is 100% correct... although I don't believe she's actually used their services.

Interchange Brokerage Company uses FALSE PRETENSES to "lure" customers, such as myself, into their VERY obvious, and illegal, pyramid scheme. They email you with messages promising to eliminate "all these fees" and safe all these rediculously claimed percentages on your "processessing costs". WHAT processing costs!? They 'barely' indentify what the CORE of the processing costs are (I learned that they were referrings to CREDIT CARD processing fees).

So you can save me "60%, but usually 8-20%" on my "processing costs". Because more than likely, I'm among the 93% of merchants paying "hidden fees".

All crap. All B.S. There are NO HIDDEN FEES. All my processing costs are CLEARLY stated and not hidden. So you say you're going to save me this boatload of money... and make your money off the savings, but you want ME to pay YOU PLENTY OF "HIDDEN FEES" ASSOCIATED with your services... which are just a PYRAMID SCHEME! What the HELL do you call having me get these "accounts" and building accounts under me and getting people to sell these accounts and becoming an "independant contractor" selling YOUR CRAP to make YOU MONEY.

I'm fine with being an entrepreneur and all. In fact, I am a very successful one.. however, your practices are all based on deception to begin with, and ends up with only YOU being the winner. I'm fairly sure you'd already made your little wheelborrow of money and you've already, within a few days, moved on and you're planning the name of your next SCAM.

As you said, "Every business model that charges up front costs is not a scam or stacked against the agent. " So true, but when you use deception and lies to lure hardworking people into falling for your scheme to make money, it's a scam. Not every business is, but yours certainly is.

By the way, your multiple posts under multiple names just KILLS me... This, "I just happen not to like seeing erroneous "complaints" on a reputable company who is trying to make the world a better place" Ha! EXCELLENT... funny as I've seen... and this, "I suppose anyone paying money to a major franchise like McDonald's should also be aware of being robbed by the up-front fee and the ongoing royalties" REALLY? You're comparing yourself to a legitimate franchise opportunity like McDonald's? Ha! Now you're REALLY killing me here.

You're an idiot and your company IS a SCAM Flat out.

There's MY opinion and MY experience with your company, and I'm entitled to it.

The amount of mis-spellings in my post above are the result of my rage and rantings about this company. I apologize to anyone having to endure them.

As for this company? SCAM

It really doesn't seem like anybody knows what they're talking about who is calling this a SCAM. I have started many businesses, and $55/month is nothing for overhead, especially when there is a legitimate business opportunity present.

IBC is a very simple company that solves complex problems... fluctuating interchange rates. These rates are something that 93% of businesses are not properly managing, like a car that is out of alignment. IBC comes in, cranks down on the controls, and VOILA! the business is now aligned, and there is FOUND MONEY on the table that normally would have gone to VISA/MC.

Of this money, 50% goes back to the business as savings (that's the selling point), 25% goes to IBC for doing the dirty work, and 25% goes to the sales person.

Take a look at Stophiddenfees.com, and you'll see that over $3M in fees have been divided up this way... in less than a year.

So, instead of bashing a company that will be working hard to save another $97M from the credit card companies as quickly as possible, and promote permanent legislation which protects business owners, how about focusing your efforts on something else. Anything else.

For any sales person worth his boots, this is one of the easiest products to sell on the face of the Earth. Here is a quote straight from their promotional YouTube video:

"We can tell who is being treated fairly, and who is falling victim. Our consulting agreement PROHIBITS us from accepting a client unless we can truly help them. This means zero risk. If we can't see at least 5% total cost reduction, we won't collect a set-up fee, we'll terminate the agreement, and we'll destroy any information you sent to us. 93% of the cases we review have significant hidden fees, and we're able to help them eliminate 8, 20, even 60% of their total monthly expenses. However we do turn away 7%, and quite frankly, that's the best news you can hear because that means you're being treated fairly, and you don't need our help."

From http://www.youtube.com/watch?v=9iR4CWxXEiU

Here is another explanatory video, which covers their noble mission: Merchants Against Unfair Interchange (MAUI for short)

http://www.youtube.com/watch?v=bHMYppfL5rI

You're an IDIOT. You and your company are a sham buddy.

You create multiple sign in names to post your glorious ratings and made-up statistics and that is flat-out DECEIT.

From the start, you present yourself to me, the business owner, as a company that will save me money and STOP THOSE HIDDEN FEES. Bull CRAP. You want to turn me into part of your sales farce! Are you KIDDING ME with this?

Why in the WORLD would I want to stop running my $22 Million company for even a MOMENT, to write YOU (yes, you're a one man scam show, YOU) a check for $55, and become a salesperson for you?

You... are... insane...

I have a successful company that was created by my own hands and I got there by working hard, and dealing HONESTLY with everyone I meet. YOU on the other hand start you first contact with ME by shoveling LIES my way to entice me to buy into your MLM scheme so YOU can take shortcuts in the business world and make money by lying to people and by tricking them into joining your sham of a company that has no tangible product to sell other than freely available information... and put together as a pyramid scheme that's designed to STEAL from these poor suckers at the bottom, only to make you more money.

You're an ###. Your company is a SHAM, and people like you that feed off of others desperate attempts to make a living for themselves, TRULY make me SICK. You sir are delusional. You feel like you're doing ALL us businesses this HUGE favor while you continue to campaign... For more an more suckers to write you just one more check. You are sick.

In the end, dishonest people like you ALWAYS get what's coming to them. Always.

First of all, I'm not Dave, and this is my only login name. Secondly, why are you so upset? Because there is a $55/month fee?

Do the math. IBC has saved companies $3.2M since October (stophiddenfees.com). Of that, 1/4 has gone to IBC, and 1/4 to the sales force... the rest went goes back to the companies they help.

That's roughly $800k to IBC, and $800k to the sales reps. And you're worrying about the $55/mo that agents are paying each month? Let me do the math for you. It is a safe assumption to say that collectively, IBC has taken in between $40k-$60k in the past year from agent fees, and paid out $800k in commissions. Now, how could that be unfair, when on average IBC pays 15x? What's more, you can be certain there are at least 2 full time salaried people to manage almost 150 reps, so these fees don't even cover that overhead, much less any of the investment on the technical end.

If you have done your research on IBC, you would see they are very fair, and allow people like myself to be in business, and earn good money, without having the startup expense.

It just frustrates me when people can be so ignorant to say they don't like somebody with an underdog business model, which is exactly what IBC is. And if you really had a $22M business, you'd recognize ROI when you saw it, and not be so bent out of shape by $55.

I am very glad people are beginning to see the truth about Interchange brokerage company! Do not trust Dave Toney or IBC!

Nobody will answer the simple question of what value does the agent receive for his/her $55/month? The answer still is NONE. It's not about whether the fee is affordable or not, it's about the fact there should be no fee. The agent is already printing the biz cards, fliers, forms, and marketing materials at his own expense plus using his vehicle at his own expense and working for free. When any company charges a fee to work with them you have to know they're making money off the folks paying the fee, not the sales program. This outfit cannot be trusted.

It's amazing to me that you guys don't understand the concept of INDEPENDENT CONTRACTOR. You're in business for yourself. Nobody pays you a paycheck, gives you business cards, covers your health insurance, or holds your hand.

The $55 gives you all the tools you need to sell a great product you would otherwise not be able to sell. It is obviously worked into the business model to separate people who are confident in their ability to sell Ratelock at least once, versus people that aren't. Upon paying the money, you have a full-time manager who will train you, an arsenal of sales materials, and the opportunity to educate yourself further with webinar classes. You also get your own email address, website, and a number of other tools like a kickass CRM program that lets you keep track of customers, leads, and earnings. They also provide a newsletter to keep you in touch with your clients better.

For people reading this blog, I happily work with IBC, I'm not being told to write this, its just that I believe wholeheartedly in this company and encourage you to check it out. Some fun facts:

1) They've seen triple digit growth every month since last October
2) They are affiliated with BBB, numerous industry associations, chambers of commerce, and more
3) Every client has referred more business so far
4) Not once have they taken on a client and not been able to realize minimum cost recovery, often in the Thousands of $$

Word to the wise: don't let a few doubters who have no real experience with IBC throw you off, take it from one of the many brokers happily in control of their finances again because of the real opportunity this company provides. There's nothing quite like making one sale and having 2 years worth of commissions every month paid back again and again, I'm already bringing on my friend 50/50 because I have more business than I can handle... since there's nobody else out there doing what IBC is doing.

Why should an independent agent be charged even ONE CENT to work with a company? Because the guys on top of the PYRAMID (ie: Kyle) make money off the fee which is a classic MLM scam. If KVM/IBC were legit they would charge ZERO fees. The explanation that the $55 gets you a personal web site, email address, sales material, and a mgr is weak and worthless. Every agent's website is the same and the 800# is the same with different extensions - big deal. Oh and these "training webinars"? Since you're INDEPENDENT you should NEVER be required to attend. In your own words "you're your own boss". If the place dropped the fee it would help their reputation. It's common knowledge that ANY company that charges a fee should be avoided.

BTW, if KVM is such a wonderful company why is a straight shooting manager Bob Faris not there any longer? Because he knew that the upfront and monthly fees just ways to scam folks out of money. Bob didn't approve so Kyle replaced him.

This is clearly a con. Their recruiting process consists entirely of pitching the dupe (independent agent). They don't care if you're qualified. You're qualified if you have a credit card and a low IQ.

KV Management should all wind up doing Federal time. Comparisons to McDonalds are so totally off the mark that it's comical. I'd be glad to pay a franchise fee to participate in a time-tested and proven business model. KV Management is not time-tested, proven, or respected. They're a bunch of low-lives that talk to you like you're stupid.

If you can't tell 10 minutes into the pitch that KV Management is a bunch of scummy con artists, you will when you reach the "enrollment" page (where you sign up to get bled for $105 per month before you even know if they have the ability to deliver the service being promised), you're a ###.

Am I pissed off? You bet! I'm pissed at them because they wasted my time and avoided telling me that their real business is scamming their "agents" with recurring automated payments of $105 per month. I would let this slide if they hadn't been such spineless slime-balls who wasted my time. If you're too smart to fall for it they just say "it's not for everybody" because they know that it's only for ###s. So they test you to qualify you based on how stupid they think you are, and they think everybody's stupid until you say f*%#K off. If you're dumb enough, they'll butt-rape your card every month.

To repay this insult and waste of time, I'll waste just a little more: I will now write to every state attorney general's office, FTC, Commissioners of Banks etc. until I get some results (i.e. these clowns get shut down).

I think it is very intersting to know that after my post about IBC credibility on social media outlets a $70 million dollar company so they post on here (don't believe that at all)) just set one up on facebook and it is still a very amateur set -up. THIS goes to show YOU who ever is running this buisness is READING your posts and trying to influence new recuits opinion about them and trying to cover up the real truth about IBC.

Keep up the good work with the posting and I wish you the best (Kdoyle)in contacting who ever can help to shut IBC down. Keep us updated if anything happens.

What Kdoyle wrote is true. KVM/IBC does not compare to McDonald's or any other time tested business model or franchise. They make money off the recurring monthly fees from the independent reps. They then want you to recruit other reps, this is a MLM pyramid scheme pure and simple. Neither their Rate Lock or loan programs can stand on their own. If they could they wouldn't charge the fee. Wake up folks before you throw more money away on swindlers like Kyle.

Good God. Let me spell it out a little clearer for you RECRUITS.

1. I own a very successful plastics company. I don't work for anyone. I don't need a job.

2. You solicit me with the premise that YOI are going to save ME thousands (hundreds of thousands) on these mysterious overbillings I've been paying.

3. I look into this sham, this flat out mis-direction... And suddenly I'm being recruited to SELL FOR YOU!? Are you KIDDING ME with this crap?

It starts with LIES, and you're now lying to all of us here. Oh sure, I get that there ARE some of your scam-agents making money. Probably a LOT of money. Enjoy it. There are plenty of multiple-level, pyramid schemes out there that make money. You hire suckers #1-10, those suckers hire more suckers... Suddenly, the people on top are getting rich off of all the lies used to carry YOU and YOI ALONE to the top.

Piss off. Get a REAL job and quit trying to convince us. You're making BOATLOADS of money.. So why would you care what we think?

Next.

Thank you Plastices CEO i was about to join Fri and pay the fees but reading your post really made we wake up. I can't believe I almost fell for this scheme. You have been a life saver.

Hello All,

I have read this thread and I fully understand that some people that have replied are currently working with IBC or KVM and they seem quite happy. There are others that feel the business plan and the broker fees charged by the companies are riduculous. Personally I am not crazy about fees of any kind that I am expected to pay, however that is the cost of doing whatever it is that you want to do associated with those fees. If there is a way to eliminate fees or reduce them, I am all for it. It breaks down to some people will pay some people will not, it is their choice.

There are several companies offering this service and they all seem to be offering it because of their partnership with IBC. I have checked with the BBB and all over the internet trying to answer the questions below and this is the only complaint thread that I can find.

Has anyone read any complaints from any companies that have used this service to save money on their interchange fees that have been scammed?

Has anyone read any complaints from anyone offering the service as broker that has not been paid their commissions and or residuals?

This service has been offered for a while now and I am sure there would be some complaints from some companies that are not satisfied with the service Rate Lock or from some ex-brokers complaining about their commissions and or residuals not being paid on forums, chats, message boards and or with the BBB.

I am looking for the truth. Does this service work for businesses and are the brokers being paid as promised?

Thank you

I can't figure out why there's so much vitriol being strewn about here because independent contractors agree to pay $55 per month to have access to a product they can sell to create a recurring revenue stream. Complaints centered on the agent fee can only be the result of a failure to understand the independent contractor business model. People doing this are not employees, and they are simply making a business decision; they are given all the facts they need to make an informed business decision. If you don't want to pay $55, don't join.

As for the recruiting aspect of the KVM business model, that is a very, very limited aspect of what they do. I've been with KVM since May and I can tell you unequivocally that virtually all of the emphasis is placed on getting new clients, NOT recruiting new agents. That portion is provided as an option to increase earning power, but this is not a recruiting shop. The guy who's all agitated about being asked to join KVM should probably take a chill pill; he was probably asked by an agent who asks everyone he encounters, which isn't necessarily a bad thing. We're all impressed with how successful you are and that something like KVM is clearly "beneath" you. Now give it a rest.

The actual product is pretty simple - they analyze your current merchant account statements and make sure that you're being treated fairly by your processor. If you are, no problem, you're all set. If they do identify issues that can be corrected, they will estimate the cost savings to you and provide you with a trial period where they implement their process to get you optimized with your processor. The savings they represent to you are guaranteed, and you don't pay them until you've already realized the savings. How is that a scam? Anyone? You don't pay any money until they prove that they're saving you money, and you've already got the savings in your account. Seems like a fair deal to me.

If you're in the camp that thinks you can do this for yourself, why haven't you already? If you're that much of an interchange expert, you'll already be in the minority of businesses that don't need help. Congratulations. However, there are millions of businesses where the business owner is not an interchange expert and can easily be taken advantage of by their credit card processor, and they usually are. I would think the only people who should be upset about this are the merchant processors themselves because KVM is cutting into their profit margins, which are usually padded by deceptive tactics.

Now for full disclosure, I've been an agent with KVM since May. I enrolled with KVM because I like the business model, see that it meets a need, and decided that rather than walking into businesses trying to get them to switch processors to save money, it would be easier to become a permanent solution to what is a pain-in-the-neck issue for most businesses. Having said that, I have not been active with KVM over the summer for a variety of personal reasons, but have decided to continue with the $55 per month fee as I expect to become active at the start of September. I have looked at several other independent contractor opportunities over the last several months. Most of them are set-up that way because they want to avoid the liabilities associated with hiring employees, but they still want to treat you as an employee. Many require you to make some kind of investment, whether it's to cover a demo kit, secure a protected territory, or acquire leads. Some require nothing, and typically provide you with nothing. I think the KVM/IBC opportunity is a valid means to make money as an independent contractor, I believe that the resources provided to their IC's represent good value, I can attest that they respect your status as an IC and do not harass you for activity reports, mandatory meetings, etc. If you're interested in the opportunity, don't let a handful of bitter angry knuckleheads deter you.

To the above commentator: Who exactly here is "bitter"? Who exactly is a "knucklehead"? Aside from that, neither you nor anybody else has given a good answer as to what the agent receives for that $55/month or $105/month or whatever it is that KVM is now charging for the honor and privilege to work with them. Truth is there is no reason to charge ONE CENT except this is a way for Kyle and KVM to make money off the agent, plain and simple. If it was only about sales and securing clients for their Rate Lock and loan programs they wouldn't need to charge a dime. Remember, ANY company that charges a fee, even a small fee - is not a company who makes money on their product and service. I've attended two of their webinars and feel Kyle talks down to the IC's. Furthermore, he refers to them as Independent Contractor EMPLOYEES, which of course there is no such thing. It's amusing that you pay the $55/month while admitting you haven't worked the program all summer. You state that you began in May, did you make any sales in May? Did you make any money? Did you save merchants oodles of money just like KVM says the rate lock program would? Or is the product grossly overrated which is my guess.

I would like to know if anyone has made a real income with this company. Ive heard all the pitches. I saw the cheezy webinar. The video productions are awful. None the less, I'll look.
So, I took Kyles advice and left a messages for 25 salespeople
( no one ever answers thier phone). Talked to 2 of them. One tried to recruit me for another MLM, one has made zero $.
If anyone is active and making with KVM, at least 3- 5 k per mo, ( and can prove it) please contact me. Yachtingflorida@aol.com

Yachtingflorida brings up an important question: HAS ANYONE MADE A REAL INCOME AT THIS AND CAN PROVE IT?!?!? Likely answer: NO. Again folks, if a company charges their IC's a recurring monthly fee to sell for them and has them recruit other reps the chances are very high that the rep will NOT make money on the product or service because it is really just another MLM/pyramid scheme in disguise. As for KVM's/IBC's "product", the devil's in the details: (a)The Rate Lock product can only be presented to merchants doing $10k/month in credit card processing - cuts out too many merchants. (b) The loan program they pitch is irrelevant because most merchants do NOT qualify due to varying factors. Folks, it's all smoke and mirrors, DO NOT waste your time with Kyle, KVM, or IBC.

Ok Dom 5 and plastics CEO, you asked -------------you-------------- are bitter. And I'll explain the business model. Many new businesses lack cash to hire a giant upfront sales team (IBC2YEARS AND 9 MONTHS) and there are different ways to deal with getting people on board. Downstream accuisition of sales talent happens all the time in the bussiness world. Sometimes it has a MLM flavor but is not MLM, this is close! Here is how it veries, there is (production) tied to advancement. No person inline, makes money from signing another. They make money when something is sold to a customer. Most sales systems have bonusing "uphill" to management based on productive sales staff. IBC IS NO DIFFERENT. I CAN SIGN A MILLION PEOPLE UP AND WON'T MAKE A DIME UNTILL SOMEBODY SELLS SOMETHING. MLM usually have money built in to the recruiting alone, IBC AGENTS DON'T PROFFIT SIMPLY BY SIGNING ANOTHER AGENT. I'm new, but i have been coached by my manager and Dave that this company does not want to baby sit or carry ### draggers. Like many independent contract offers, there are many WASHOUTS, COMPLETE WASTES OF TIME. How does the company off-set all the wasted time with wasouts? The best thing is to not hire them in the first place! A small fee ($55) is a good test of the applicants seriouness and helps IBC weed out the tire kickers (which some of you obviously are) The $55 worked, it got you (WITH YOUR CRYING, I CAN'T ATTITUDE) out of the way. Leave more customers for me--- [censored]! As for you PLASTIC CEO, YOUR A LYING SACK, NOBODY WITH A 22 MILLION DOLLAR COMPANY WOULD HAVE GOTTEN SO BUTT-HURT AS TO HAVE SPENT ALL THE TIME YOU DID CRYING, YOU DONT HAVE SQUAT. And by the way, my name is Leon Windom, central valley Ca. I'm not dave, but i wish I was. He represents exactly the kind of inovater, entrepreneur, visionary and leader i want to work for. THE COMPANY HE HAS BUILT IS A COMPLETE ONE-OFF, IF THIS WERE A SCAM, IT WOULD HAVE EASILY FLOATED IT SELF INTO TROUBLE, but it hasn't --------has it? Only complaints are a couple-- no selling --sales people. The only comparison you could even make to this job is credit card processing. CHECK FOR YOUR SELF HOW MANY COMPLAINTS EVERYONE OF THE 1000 MERCHANT CO'S HAS. IN COMPARISON, -------- I'LL BE LIVING A DREAM SALES JOB AT IBC! IF YOU HAVE WENT AND STUDIED HOW THEY PRODUCE INCOME FOR THIER CLIENTS, THEIR AGENTS, AND THEMSELVES-------------- AND YOU STILL DON'T GET IT. PLEASE STAY AWAY AND SAVE YOUR $55 DOLLARS.
I AM WORKING TWO LEADS AT THE MOMENT THAT COULD PUT 100X'S THAT (YES$ 5, 500) (retail chains)EACH INTO MY RESIDUAL PORTFOLIO AT IBC.---------------- $55 BUCKS-----ARE YOU KIDDING ME?
$55 BUCKS IS JUST A STOP LOSS TO PAY FOR THE TECHNOLOGY AFFORDED TO US BY THE COMPANY, IF YOU GET OFF YOU ### AND SELL, YOU DON'T EVEN HAVE TO PAY IT!

Leon you are absolutely correct, the $55 DID work - it worked in suckering you into drinking the IBC/KVM kool aid. Oh and your statement of "the $55 fee is a test of the applicant's seriousness" is the oldest sucker line in the book. In your way of thinking all companies wanting to hire ANYBODY should ALWAYS charge a fee to make sure they have people that are "serious" about working there. What an uneducated fool you are. And by the way, your spelling and reading comprehension can use some work. Example, if you've been paying attention you'll realize that the contention is that the guys on TOP of the scheme make money from that fee which is EXACTLY WHY it's a SCAM. Oh, i definitely studied the "opportunity" and addressed the pitfalls in my comments: (a) only merchants doing at least $10k/mo in CC transactions should be contacted - cuts out too many merchants. (b) too many merchants don't qualify for their loan program. Again, try READING and UNDERSTANDING. Finally, go ahead and brag about those great "leads" you have going. I guarantee when they don't yield results we won't be haring from you any longer, will we. You'll just disappear like the other suckers who thought this was a great program, found out otherwise and were too ashamed to admit it.