We understand how important cashflow is to your business, so you’ve got the option to receive advance instalments against your upcoming monthly commission payment.
If you choose to receive the advance payments, it won’t affect the total amount of commission you receive or your splits – this is all about timing of payment. Also, your payees and referrers will continue to be paid at the end of each month as normal.
How does it work?
The Advance Payments scheme works by making cash instalments equivalent to the amount of Up Front commission we have received for your loans, and that we anticipate you will be paid in the monthly commission batch.
The instalments that have been paid are then deducted from the amount paid when we issue your monthly statement and RCTI. So it is like getting your monthly payment in two or three chunks, instead of all at once.
Calculation of payments
The instalment amount available is calculated by reference to the amount of upfront commission we’ve received for loans you have settled, and by reference your average payee splits (if applicable).
If you’re on a Maximiser plan, the amount available for advance payment will be up to 100% of the value of upfront commission we have already received that would otherwise be payable to you at the end of the month.
If you’re on a Variable plan, the amount is up to 80% of the value upfront commission we have already received that would otherwise be payable to you at the end of the month.
Advance Payments and Payee Splits
Advance payments are only paid to Connective Full Members, and are calculated based on what we expect the Full Member will be paid.
Your advance instalments will be based on how much you usually split to payees. So, if you normally split 25% of your upfront commission to payees, your available amount will be 75% of the upfront commission that would otherwise be payable to you at the end of the month.
Eligibility and Opting in/out
All Connective full members can opt in to receive advance payments. If you opt in, you are agreeing on behalf of your whole business and the advance instalments will be paid to the Connective Full Member.
Instructions on opting in our out are here: Opt In / Opt Out
Further information