Your FlexFund settings in ISN now include options to set minimum and maximum allowable transaction amounts. This enhancement allows for better control over FlexFund usage and associated fees.
Here are some key features
Minimum Order Size ($): This specifies the minimum amount required for a transaction to be eligible for FlexFund usage.
Maximum Order Size ($): This sets the maximum allowable amount for a transaction when using FlexFund.
Impact of Maximum Order Setting
If your maximum order setting is set at or above $2,000, you will encounter a special condition:
Fee Acknowledgment: When a transaction reaches or exceeds this maximum, a pop-up will appear requiring you to acknowledge a 10% fee. This fee replaces the standard $50 transaction fee.
Examples
Online Scheduler Presentation (Within Thresholds)
When an order amount falls within your specified min/max thresholds, FlexFund will be presented as a payment option. Users can select FlexFund during checkout.
Online Scheduler Presentation (Outside Thresholds)
If the order amount does not meet your configured min/max limits, FlexFund will not be displayed as a payment option in the online scheduler.
Order Form Presentation (Within Thresholds)
In the order form, when the order amount is within your set min/max thresholds, FlexFund will be available for selection as a payment option.
Order Form Presentation (Outside Thresholds)
If the order amount falls outside of your configured min/max limits, FlexFund will not be presented as a payment option in the order form.
These settings give you flexibility and control over your FlexFund transactions. Make sure your minimum and maximum settings match your transaction preferences to get the most out of FlexFund for your needs.
Keep in mind that even with these settings, you can always override them by manually selecting FlexFund in the order form when booking the inspection.
FAQ
Why are we implementing these changes?
Why are we implementing these changes?
While our longstanding policy has been to restrict transactions above $2,000, we recognize that our product primarily supports home inspectors in adding additional ancillary services. In cases where inspectors achieved exceptional success by adding these services, transactions exceeding $2,000 were allowed. However, we discovered that these larger transactions experienced a significantly higher breakage rate compared to transactions below $2,000. This higher breakage rate impacts our ability to sustain the reduced per-transaction fee of $50 (originally $75) when uncollectable amounts accumulate. Inspectors opting to approve larger transactions through FlexFund can still do so, but they will bear a greater portion of the expense for these transactions
Do I have to accept transactions over $2,000?
Do I have to accept transactions over $2,000?
No, if you maintain your default settings at a maximum of $2,000, FlexFund will not be presented as a payment option for transactions exceeding this amount.
Can I choose to allow transactions over $2,000 on a case-by-case basis?
Can I choose to allow transactions over $2,000 on a case-by-case basis?
You will retain the ability to manually offer FlexFund for transactions surpassing $2,000 when you manually include it in an order.
If you have any questions, please feel free to give us a call at (800) 700-8112, or you can email us at help@inspectionsupport.com or open a chat in the upper right corner of your ISN!