Executive Privileges Program
Frequently Asked Questions
Partners
General Questions
Q. What is the Executive Privileges Program?
A. Launched on April 2, 2007 the Executive Privileges Program (EPP) is designed to leverage the buying power of the ITEX community - 24,000 businesses with more than 100,000 employees - to provide added value and discounts for business products, services, and programs which will increase the profitability of member businesses. The EPP is one more way that ITEX is increasing benefits for its Members.
Q. What does my business have to do to participate?
A. Some benefits will be open to all ITEX member businesses. Others will require that your business be a Preferred Member of the ITEX Marketplace. Please check the details of the specific program element to see if your company is eligible. If your company is a Preferred Member then it will be eligible for all program elements of the EPP.
Q. What is a Preferred Member?
A. Being a Preferred Member makes life easier for you. It enables you to save time by paying your transaction and association fees by automatic deduction using a major credit card or electronic funds transfer (EFT). The Preferred Member pays 6% cash transaction fees on all purchases and sales within the Marketplace plus the cash portion of the $20 cash + 10 ITEX association fee every 4 weeks.
Q. That sounds great! How can I upgrade my membership to be a Preferred Member?
A. You can get on the plan either by updating your account at www.itex.com, by calling your local franchise, or by contacting Member Services at 1.800.277.9722.
Q. How many benefits are going to be included in the EPP?
A. Our first announcement was made last week and we expect to roll four additional partners through April, 2007.
Q. How will the program work?
A. The most common form of an offering will be accessible simply by clicking on the EPP link on the ITEX website. You will be taken directly to the vendor company's site and will be automatically recognized as a member of the ITEX Marketplace with eligibility to participate in the discount they offer. Some vendors will also have a direct toll free line. Most components of the EPP will require payment by cash but some will allow payment using the ITEX dollar. Please check the details of each program for the method of payment.
Q. Why is ITEX launching this new program?
A. ITEX is committed to increasing our member's ability to compete in today's business reality. This new program is simply the next best way that we can ensure the value of your ITEX membership now, and into the future. It is our goal to find better ways to greatly increase the value of an ITEX membership as we build our unique business community.
Q. If I have an idea that I think would be a good fit for the EPP what should I do?
A. Please send any ideas that you have to marketing@itex.com. We are looking for benefits that will either reduce costs or increase sales for our member businesses. If you have an idea and/or a contact that you would like us to follow-up on please let us know.
Q. Will Canadian members be able to participate in the EPP?
A. ITEX will make every effort to ensure that our Canadian members can participate in all aspects of the EPP. If a particular program is not supported in Canada we will note that in the FAQ associated with that program.
Q. If I have a question about any aspect of the EPP who should I contact?
A. Please contact your franchisee or trade director first. If they do not have all the information you need then contact marketing@itex.com.
Q. How will I find out about new partners in the EPP?
A. The easiest way to find out about new partners is to visit www.itex.com frequently, at least once per week, and look under the Breaking News section. ITEX will also send an email whenever we have a partnership to announce.
Q. Can non-ITEX members take advantage of the EPP?
A. The EPP is a benefit for ITEX members only. It is an investment by ITEX in improving the profitability of our members.
ADP Offers for ITEX Members
Q. What is the offer for ITEX members?
A.
- 20% discount on EasyPay payroll processing
- FREE first month of EasyPay payroll processing services
- Waived payroll implementation fee for the first 100 employees
- Your choice of four payroll entry methods
- Calculation, payment, and filing of federal, state, and local payroll taxes
Q. What if a member is currently using ADP? Can they get the 20% discount?
A. The promotion is ONLY good for NEW clients to ADP. We can’t change pricing for an existing client.
Q. What if I have more than 100+ employees, can I still use the program?
A. Absolutely. ADP may engage their Major Accounts Division that works with larger clients, but they can handle just about anyone.
Q. Do I have to be a Preferred Member to participate in this program?
A. You must be a Preferred Member to participate in this program. ITEX is trying to lower its operational cost by moving all members to a standard fee plan and we will pass the benefit on to our members through programs like the Executive Privileges Program.
Q. How do I contact ADP to get this benefit?
A. For immediate assistance, please contact Cliff Swain at 425-908-3882 or email cliff_swain@adp.com.
Q. Can a member pay ADP using ITEX dollars?
A. This is an exclusive cash only program. It is designed to help small businesses with added value services not normally available in the ITEX marketplace. ITEX has been able to negotiate great discounts with their 100,000 strong member employee base.
ITEX Employent Ads
Q. What is the ITEX Job Board?
A. The ITEX Job Board enables you to find great candidates by having your job posting viewed by a broad range of talent at high traffic sites such as Linkedin, My Space, NYPost.com and other sites on the Simply Hired network. The best part is the ITEX Preferred Members only pay $10 ITEX. Other national job boards charge $300 or more for a thirty day listing. If you are not a Preferred Member then this is certainly one good reason to become one. If you are not a Preferred Member then each posting costs only $99 cash.
Q. What is the cost to list on the ITEX Job Board?
A. ITEX Preferred Members pay only $10 ITEX. If you are not a Preferred Member then each posting is $99 cash (another great reason to become a Preferred Member).
Q. How long does a listing remain on the ITEX Job Board?
A. Listings will remain on the ITEX Job Board for 30 days. If you want the listing to stay an additional 30 days then you will have to repost and pay an additional listing fee.
Q. Does the ITEX Job Board support Canada?
A. We do not currently support Canada. Our underlying platform, powered by Simply Hired, has announced plans for providing support for Canada later this year.
Q. Are there any volume discounts?
A. We treat all job listings the same, plus our price for Preferred Members is already so low that it is in effect a volume discount.
Q. How can I view my listings?
A. You can go to any of the other members of the Simply Hired network that have enabled searching such as NYPost.com, 6figurejobs.com, myway.com, linkedin.com or myspace.com and look for your posting. Soon, these listing will be available in a dedicated area of itex.com.
Q. How many sites are on the Simply Hired Network?
A. There are over thousands of sites on the Simply Hired Network. Most of these sites will have a means for displaying your job listings.
Q. How is Simply Hired related to the ITEX Employment Ads?
A. Simply Hired is ITEX's technology and distribution partner. They provide the underlying technology for posting the jobs and have created the distribution relationships with third parties such NYPost.com and Linkedin for displaying your job postings in front of potential job candidates.
Q. Will ITEX offer the ability to search the job listings?
A. We hope to offer the ability to do basic search by categories in the next 30-60 days. We hope to offer the ability to do basic keyword searching when it becomes broadly available from Simply Hired.
Q. Why should I post my job openings with ITEX Employment Ads?
A. ITEX Employment Ads provides a very cost effective means for finding qualified candidates to fill your employment needs, in fact we lose money on every listing (we know, sounds like the old Internet model). We have made the price low enough for you to test using an Internet job posting versus how you currently search for new employees. So go ahead and test the ITEX Job Board and see how it compares to your local newspaper ads.
Please send an email to marketing@itex.com and let us know how we have done against your other tools for finding employees.
Q. Does my job posting go live immediately?
A. Since your posting is being sent through a network of sites, we would suggest that you wait 24 hours before you look for your posting.
Q. How can I search for my ad?
A. This feature is not available yet but will be coming soon.
Q. Does ITEX Jobs provide resumes that I can review for my job openings?
A. Our technology partner, Simply Hired, does not provide support for this capability at this time. We will provide support for this capability when they implement it into their offerings.
Q. When will I be able to apply?
A. We have finished our beta testing period and this program is up and running. You can apply right now!
Q. Is the ITEX MasterCard available in Canada?
A. Not at this time.
Q. What will my credit card's annual percentage rate (APR) be?
A. Your specific rate will be based on your personal and business credit history, as well as your business financial performance.
Q. Who Is GreenSky Financial?
A. GreenSky Financial is the financial institution that has partnered with ITEX to provide the ITEX MasterCard. GreenSky is a trusted partner of MasterCard International. Their primary focus is on providing financial services to growing businesses like yours. To contact GreenSky Financial call 404.832.4160.
Q. Can I pay my bill with ITEX Dollars?
A. All charges made using your ITEX MasterCard must be paid in cash, just like any charge card. MasterCard has not gotten wise yet to the power of the ITEX dollar but we are working on them.
Q. Can we use this card to pay our ITEX fees?
A. You can use any allowed credit card to settle your ITEX account on a monthly basis. If you use the ITEX MasterCard you will be able to take advantage of the NET 60 feature which will probably give you thirty days more of no interest than your current credit card.
Q. When I sign up for the ITEX MasterCard is my agreement with ITEX Corporation?
A. ITEX is not licensed by MasterCard to issue credit cards so we have partnered with a GreenSky Financial to actually issue and manage the ITEX MasterCard. GreenSky has all the necessary relationships with MasterCard and regulatory approvals to manage the ITEX MasterCard. GreenSky is the entity that is actually approving your application and operationally managing the ITEX MasterCard. Your day-to-day relationship on the card will be with GreenSky.
Q. Can I transfer a balance from another account to my ITEX MasterCard account?
A. You will be able to consolidate and transfer other accounts into the ITEX MasterCard. We will announce the details on how to do this when we announce the application process.
Q. Will Members be able to charge ITEX purchases on this card?
A. Not at this time.
Q. Is there an annual fee?
A. No. Compare that to other business cards and the year-to-year savings are significant.
Q. If I provide an ITEX MasterCard to an employee of my company, who is responsible for the charges on the Card?
A. Both the business and the employee are liable for charges on that card. The company can at its sole discretion revoke the card of any employee at any time for any reason. The employer also has the ability to preset spending limits on employee cards. We highly recommend that you only provide cards to employees who you trust will follow company spending policies.
Q. Is there a fee for extra cards for employees?
A. No. You can request additional cards for your employees for free.
Q. Do I have 60 days interest-free on new purchases?
A. Standard credit card programs give you an average of 30 days to make payment on purchases without incurring finance charges. With the ITEX MasterCard Net 60 program, you have an average of 60 days. At the beginning of each month, you will receive a statement that includes all purchases made during the previous month. Payment for those purchases is not due until the 15th day of the following month.
Q. How can I get 60 days to pay on new purchases?
A. We understand that in business cash flow is not always consistent. With the ITEX MasterCard Net 60, you can take 60 days to pay on new purchases as long as you do not carry a balance past the 60-day interest free period. If you do revolve a balance, you'll still enjoy 60 days of zero interest on balances from new purchases!
Q. How often will I receive statements?
A. You will receive an itemized statement each month.
Q. Can I get credit as a new business startup?
A. YES. With a good personal credit score, a copy of the business license and your last year's tax records, you should be approved.
Q. Do I have to be a Preferred Member to participate in this program?
A. You must be a Preferred Member to participate in this program. ITEX is trying to lower its operational cost by moving all members to a standard fee plan and we will pass the benefit on to our members through programs like the Executive Privileges Program.
Q. Is the ITEX MasterCard grace period 60 days or 15 days as I have seen in the Key Credit Terms area?
A. All credit cards have a grace period between the end of the cycle and the due date. Almost every card has a 30 day cycle, after which there are 15 days until the payment is due. With the ITEX MasterCard, there is an extra 30 day cycle, after which there are 15 days until the payment is due.
For example, consider $5,000 of charges in the calendar month of March:
If those charges were made on a standard 30-day cycle credit card, the charges would appear on the April 1 statement, and payment would be due on April 15.
If those same charges were made on an ITEX MasterCard account, the charges would still appear on the April 1 statement, but payment would not be due until May 15.