OBMG Pricing / Fee Structure
No fees EVER to become a Member!
No fees EVER for additional sales.
No fees EVER, until the first purchase; then only a 10% cash broker fee on purchases, a $15.00 OBMG monthly administration fee (that is OBMG money not cash), and in any month members’ total sales and purchases do not exceed $150.00, a $15.00 cash monthly administration fee.
With this No fees EVER, until the first purchase, members will not be issued a credit line. However, if a new member requests a credit line, and they qualify, OBMG will issue them one and the fees will start at that time.
Nothing is paid for sales, on purchase there is only a 10% Cash Broker Fee.
METHOD OF PAYMENT: Auto Pay: Cash (US currency) fees are deemed to be due at the time of the transaction. Member agrees to the following; to keep a valid credit/debit card, ACH, or other approved method of payment on file for Member’s auto pay.
At the time of transaction, the Auto Pay will be applied. If the Member has prepaid their cash fees which has been credited to their cash account in advance, that will be debited, if not it will debit their other Auto Pay options, if all is declined, then the transaction will be declined.
OBMG may debit Member’s Auto Pay for any cash owed by Member at OBMG’s discretion. OBMG will not approve any purchase without a current Auto Pay on file. In case Member, does not have valid Auto Pay they may acquire a rechargeable debit card from many sources, such as Wal-Mart, etc. In lieu of the above, Member may pay cash (check) in advance, which will be credited to their cash account. This will be drawn upon for their cash fees at the time of transactions. At any time, the cash broker fee on a transaction exceeds the amount of their cash balance, the transaction will be denied. Member agrees that they may be charged an addition of
- $20.00 USD fee for each instance that Member’s Auto or pre-authorized payment is declined or Member’s check returned for insufficient funds. Member acknowledge and agree that these terms reflect the additional costs OBMG will incur in order to bill and collect your accounts.
- CASH INTEREST: A charge of one and one-half percent (1½ %) cash (US Currency) interest per month will be charged on cash fees not received by OBMG by next month’s closing after month due.
Member agrees to pay OBMG the full amount of such fees when due. In the event, that Member is in arrears for any cash fees beyond thirty (30) days, Member agrees to waive all rights to Member’s account, and usage of Member’s positive balance. When cash fees become ninety days (90) days past due their OBMG Member account may be closed and their OBMG balance will be forfeited with the balance going into the Member Loan Fund.
NEGATIVE BALANCE: Member pays an additional fee of one and one-half percent (1½ %) percent in OrangeBee Money per month on the negative balance (amount which purchases exceed sales at month end cut off). Member agrees to sell at one hundred percent (100%) OrangeBee Money for amount of negative balance, plus interest, may not refuse sales, and must sell their products or services at their prevailing cash prices. Failure to do so may result in immediate termination of Member’s account in accordance with the Rules and Regulations, and the outstanding negative balance immediately due in cash (U.S. Currency) to OBMG.
OBMG Transaction Authorization: All purchases must be approved by OBMG prior to sale. Selling Member can go to the OBMG website, use Mobile App, OBM Global Advantage Card, or call our 24-hour auto phone service and obtain an authorization number or they can call OBMG. If authorization is not obtained at the time of sale, OBMG has no obligation to post the transaction. The Selling OBMG Member is solely responsible for the authentication of the identity of any buyer. Because authentication is difficult, OBMG does not confirm any person’s purported identity. OBMG reserves the right to refuse to issue an authorization number approving a transaction under, but not limited to, any of the following conditions:
- A.) If buyer does not have sufficient account balance, or line of credit to make such purchase.
- B.) Credit/Debit Card is declined.
- C.) If seller fails to obtained an authorization number for any sale, prior to the sale.