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PROMPTS
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YOUR INPUT
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Merchant #
Password
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First, access your merchant record by logging in.
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Account Page
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Select the With Checks from your merchant page.
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CUSTOMER INFORMATION
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Begin by entering the customer's basic information as is shown on this screen. You can select the on-screen help for each space by clicking the on/off
help button in the upper right.
Make sure your customer provides a pay stub showing
their earnings. What qualifies as income is available by moving the mouse over the 'Monthly Earnings' space.
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BANK Information
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In this section you'll enter the customer's bank information and down payment.
If you're unsure what numbers to put in the Bank Account spaces there are examples
given by selecting the 'EXAMPLE' link.
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PAYMENT PLAN
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Simply enter the sale amount and the number of weeks you wish to give.
The payment plan is generated automatically for you. Submit the plan once the check
numbers are entered.
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FINALIZE
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If accepted you will get a form like this.
Both you and the customer sign the agreement
on the bottom. Print two copies, one for you and one for the customer. Retain this along with
a copy of the proof of income, copy of the customer's drivers license, and copies of the checks.
Give the original checks back to the customer but make sure they are not left blank. They should be filled in as though they were going to be payed to you or voided.
Reminder e-mails are sent to customers a few days prior to payments being due as well as the initial confirmation e-mail to both the store and customer.
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PROMPTS
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YOUR INPUT
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| LOG IN
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If you need to void a sale you can do this by logging into your account on our web site. From there select the monthly statement that has the
transaction. In the transaction listing towards the top of the page, locate the item. Click on the date and the option to void the sale
is given. Only items that have not been processed yet can be voided. Future dated checks can be voided provided they are done prior to
their check dates.
In most cases the only time you'll need to void a sale is if the customer has changed their mind about making the purchase or if you discover there
was information the customer withheld indicating an inability to make the payments. A fasttrack request that is accepted as a standad G or V code should not be voided unless you are unable
to carry a 90 day term or believe the customer will default. The void function does not apply to fastrack since those were funded early.
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Prompt
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Your Response
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A fax & e-mail from GCS alerting you to a return
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When an item is returned it becomes a claim and will be listed in the claims section of the merchant record. Each claim will have their status
listed and is updated in real time.
If a sale is not honored by your customer's bank respond to the retrieval request sent by GCS within the time limits given.
GCS also sends an e-mail to the customer who defaulted asking that they contact the store or us immediately.
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Procedure
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For G code items the limit to respond is generally 3 days but may be shorter if your account is less than 3 months old. An item may be charged back
if it doesn't meet the standard of the authorization given, if it's for an uncovered return reason, or the return rate is excessive.
Regardless the return reason all claims are pursued for recovery on an equal basis for your benefit.
For V code items they should be responded to as quickly as possible. V codes, although not guaranteed are treated the same as G codes for purposes of recovery and GCS
makes every effort to secure payment for the store.
If a customer who has a return wishes to pay the store directly the store must call us prior to accepting payment. Since GCS is attempting recovery it is likely a debit may already be
in process against the customer's account. To avoid customers being double charged GCS must be made aware of these situations before funds are accepted.
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Standards
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The following standards apply to maintain a G code status.
1 The sale must be done correctly.
2 The documents for the sale must be accurate and complete.
3 GCS must have received the documents within the time limits given.
4 The return reason must be for a covered reason.**
5 The store return rate (bounced items) is under 10% *
The following standards apply to maintain a V code status.
1 The sale must be done correctly.
2 The documents for the sale must be accurate and complete.
3 GCS must receive the documents in order to attempt recovery.
4 The transaction can not be disputed by the customer.
* The recovery rate on prior returns may offset this permitting a higher allowed return rate.
** Covered returns are NSF, Closed, Frozen, Invalid, No Account, Duplicate. and Refer.
Others are on a case by case basis.
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Claims Payment
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On compliant G code items they are paid by not charging back or they are funded on or about the 10th or 25th of the month.
V code transactions are paid once recovered from the customer. Status of recovery on any item is available in the claims section of the merchant record.
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