frequently asked questions
Frequently Asked Questions
I would like to offer my clients finance. How do I get started?
It’s a very simple process. There are no set up fees or any processing fees and it’s a straightforward application form. You will need to be a member of the GDC and have a current Consumer Credit Licence. Please follow this link to either book a demonstration of our system or apply for an account.
What is a Consumer Credit Licence?
Consumer Credit Licence Application Applicable fees. If you are considering introducing our 0% Finance Facility – 0% APR Representative or our Interest Bearing facility within your practice, you will need to apply for a Consumer Credit Licence from The Office of Fair Trading. Finance 4 Eyecare will guide you through the required steps, resulting in you being authorised to introduce Interest Free Finance to your patients. The Office of Fair Trading applicable charges from the 1st April 2013 are:Sole Trader £670.00
Partnership / Ltd Company £1,466.00
The Consumer Credit Act 1974 requires most businesses that offer credit or lend money to consumers to be licensed by the OFT (Office of Fair Trading). This includes where credit is arranged to finance the purchase of goods or services. Licensing arrangements may also be required by businesses that offer goods for hire or leasing. Trading without a licensing arrangement is a criminal offence and can result in a fine and / or imprisonment.
To find out more about a licence, please follow the link below.
To apply for a licence, please follow the link below:
Please don’t hesitate in contacting us on 01294 318718 for any advice and guidance. Remember were setting up practices every day.
How long does it take to set up?
Once we receive an application from a practice on average we’ll have you up and running within a week.
What size of business do you deal with?
We provide finance solutions for small, medium and large practices. If you’re a sole trader all we require is a copy of your Consumer Credit Licence, Bank pay in details and a copy of your Professional Indemnity Insurance Policy along with our completed web based application form. If you’re a Limited Company then please contact us on 01294 318718 and we’ll go over the simple process with you.
How and when do I get paid?
Settlement for fulfilled agreements is paid daily by BACS, directly from our partner bank to your nominated account. You can submit a fulfillment notifications, at the start of the treatment using our Finance Processing System.
Is Finance 4 Eyecare secure?
Security is an important concern for both the Patient and the Practice during any online transaction. In reality an online transaction is often more secure than a transaction in a shop or conducted over the telephone, as the information transmitted online is highly encrypted. The V12 Retail Finance gateway uses proven techniques to ensure the security and integrity of sensitive data. The public web servers are certified by a leading Certificate Authority, ensuring that both the patient and the practice can have confidence that nobody can impersonate V12 Retail Finance to obtain confidential information. Data storage on the systems and the communication between servers is regularly audited to the highest standards to ensure a secure transaction environment. This includes regular third-party testing for vulnerabilities and reviews of application security and access control procedures.
What training and support will we receive?
Finance 4 Eyecare will provide full and in-depth training, from an initial introduction to a comprehensive understanding of our Finance Processing System. Our customer support team delivers a hands on and personal approach to training and building relationships with your staff, that enables good communications between Finance 4 Eyecare and your Practice. The Video Training Suite within our practice Portal provides a reference library for your staff. We also provide Patient Leaflets and A1 or A2 Posters that can be branded to your practice. Our support is continuous and only a phone call or email away.
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