FAQs

• How does the Enrollment Process Work?

  All you need to do is complete our one page enrollment form and provide us with a detailed list of your delivery locations. Fintech manages the entire enrollment/set-up process for you.
  

  This includes:

  • Communication with all trading partners
  • Establishing and verifying banking relationships with each trading partner
  • Building a customized website with account settings to establish user rights and access privileges
  • Coordinating a live date with all trading partners and delivery locations to ensure smooth transition for roll-out. 

  Please contact us for an enrollment form today!
  
  

• How long does the enrollment process take?

  The entire set-up process takes an average of 14 business days.

• How does the Fintech process work?

  • Alcohol deliveries are made to retail locations as normal – only a signature is required.
  • After a Distributor makes a delivery, they’ll submit their invoice electronically to Fintech for payment. 
  • Funds are transferred from the retailer’s bank to the distributor's bank according to invoice due date. 
  • Fintech then provides data and reporting for both parties.

• Does Fintech ever take title to the funds being transferred?

  No, Fintech does not take title to the funds. Fintech facilitates the simultaneous debit from the retailer's account and credit into the distributor's account.

• What states have approved the Fintech system?

  The Fintech system has gained approval from all 50 state regulatory agencies and the District of Columbia as a cash equivalent for the purchase of beer, wine, and spirits.
  

• What does Fintech cost?

  Fees are based on the number of delivery locations and number of monthly invoices processed.
  

• How will I know what invoices are being processed each day?

  You can access your online account to view the bank activity report which will show you specifically what was transferred electronically for that day. This report should match your bank statement.

• How are credits processed?

  Credits are processed as soon as they are due. If the net amount is a credit to a retailer, the credit goes to the retailer on the due date. 
  

   

• Can multiple bank accounts be setup?

  Fintech can setup a separate bank account for each delivery location and, if required, for each trading partner relationship.