Commissions are paid every month, one month in arrears.
Commission payments
- We endeavour to pay all commissions by the 25th of each month. This means that loans which settled in June would be paid by July 25th.
- Lenders will pay Connective from the 1st to the 25th of the month (in arrears). Each Lender may send multiple statements throughout this time so settlements may not appear until day of splitting cut off.
- Where the 25th falls on a non-business day, payment will be made on the next business day.
- Payments will usually be received to your bank account on the day following payment by us.
NOTE: CBA, Citibank and Pepper process their commissions fortnightly. This means that a few times each year their final monthly payment to Connective falls AFTER the 25th, so we are unable to process payments from these lenders on time. When this happens we will put a notification in Mercury to advise all users.
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