Advance payments are early instalments of the upfront commission we have already received for your settled loans. They allow you to receive part of your expected monthly commission earlier in the month.
These instalments do not change the total amount you earn or your commission splits. Your payees and referrers continue to be paid in the normal end-of-month batch.
Note: Advance payments are only available to Connective Full Members.
How does it work?
When you opt in, we calculate an instalment based on the upfront commission already received for your settled loans. This instalment is then paid to you earlier in the month.
At month end, the instalments already paid are deducted from the amount shown on your monthly statement and Recipient Created Tax Invoice (RCTI).
So instead of receiving one commission payment at the end of the month, you receive your funds in two or three smaller payments.
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
Your available instalment is based on:
The upfront commission we have already received on loans you have settled
Your plan type (Maximiser or Variable)
Your average payee splits (if applicable)
If you’re on a Maximiser plan
You can receive up to 100% of the upfront commission already received that would normally be paid at month end.
If you’re on a Variable plan
You can receive up to 80% of the upfront commission already received that would normally be paid at month end.
Impact of payee splits
If you normally split part of your upfront commission with payees, we factor this into your available instalment.
For example:
If you usually split 25% of your upfront commission, your advance amount will be based on the remaining 75% that would usually be paid to you.
Eligibility and Opting in/out
Advance payments are available to all Connective Full Members.
By opting in, you are agreeing on behalf of your entire business. Instalments will be paid to the Full Member entity.
Important: Payees and referrers do not receive advance payments. These parties continue to be paid at the end of each month as usual.
Important: If you have any outstanding fees or clawbacks, you will be automatically opted out of advance payments until your outstanding negative balance has been fully recovered.
Instructions on opting in our out are here: Opt In / Opt Out
Further information