When are Asset Finance commissions paid?
Connective makes Asset Finance commission payments daily. Where a lender pays commission at settlement, and a Mercury CAF Invoice has been raised, you can expect to be paid within 1 or 2 days of settlement.
Some lenders pay monthly in arrears, and some will pay different types of deals on different schedules. For more information see the Asset Finance & Quick AF Lender Payment Schedule.
Where commission is received in arrears, Connective usually pays within a couple of days of receiving the funds.
Raising Mercury CAF Invoices
Some lenders require an invoice before they will pay commission. See How to Generate an Invoice from Mercury for information on how to do this.
Not all lenders require an invoice, but it can help speed up your payment if you raise one for any lender who pays on settlement, as the invoices also serve as a notification to us that your deal has settled and commission is expected. It is particularly helpful for the following lenders:
Pepper
Angle
Now Finance (Motor)
ANZ
Grow
Lumi
If you have raised your invoice at, or prior to, settlement, you do not need to notify us that you have done it. If, for any reason, you raise an invoice after settlement, let us know as we may need to search through old commission receipts.
Commissions Statements / RCTIs
Commission statements and RCTI's are available in the Commissions App in Mercury.
Login using your CA# and Password
Once you're logged in:
Click on the CAF Commissions tab
Select the statement you wish to view or download
Click on the RCTI Statement button and the statement will download to your computer
If you don’t have your Mercury login information please submit a ticket to [email protected]
Commission Queries
If you need to raise a query about a commission you can use the Help icon in Mercury, or send an email to [email protected]. See How to submit a Commission Enquiry for more information.
Before raising an enquiry about an unpaid commission we encourage you to check the Payment Schedule and ensure that you have raised an Invoice (if applicable).
Updating your payment information
To update the bank account that commissions are paid to, you will need to go to the Membership Centre in Mercury. Note that only Directors/Business Owners are granted access to the Membership Centre.
You may have all commission (Asset Finance and Residential/Commercial paid into the same account, or you may nominate a different account for your Asset Finance commission.
Commission Splits
Commission splits to payees/referrers for Asset Finance are not currently supported. All commission is paid to the Connective Full Member.