The Cancellations and Deposits (CAN-De) Fund's unique, win-win program benefits cellular dealers and prospective cell phone consumers unable to pay high activation deposits.
The CAN-De Fund will allow cellular dealers to offer cell phone activation to consumers who cannot qualify for the service under current credit requirements or who are wary of committing to lengthy contracts involving cancellation fees. Groups who can benefit from the CAN-De fund include:
- Individuals with weak credit scores due to divorce settlements who can no longer qualify for service under current credit requirements without paying hefty deposits
- Retirees with a fixed income and good credit history who cannot afford the deposit and/or are wary of signing and committing to an annual contract
- Consumers who qualify for only 2 phone lines and must pay a deposit if they want a 3rd; rather than seeking another carrier for the 3rd line, the CAN-De Fund can pay part or all of the deposit.
- Many more examples of good people, by dealer standards, who can benefit from the CAN-DE Fund.
The CAN-De Fund shared reserve will be created from a small percentage of cellular phone activation commissions. The fund can be used by the dealer/owner to pay the customer's deposit. When the specified time period is up, usually a year, the deposit will be returned to the CAN-De Fund. This fund can also provide monies for service agreement benefits, instant consumer rebates, no-cost transfer options and temporary marketing funds. The monies are returned to the CAN-De Fund when the carrier reimburses the indirect dealer.
Dealers and their associates would complete CAN-De Fund training to understand how to distribute funds only to creditworthy customers who have a low potential of becoming charge-backs.
The CAN-De Fund program is designed to increase overall number of activations while minimizing potential loss, enhance customer satisfaction and create customer loyalty.