WHAT WE OFFER
Deposit Alternatives offers a choice. When customers open a utility account, paying a large security deposit may be daunting if they’re also facing other expenses, such as moving costs and other deposits. Our solution is a smaller, non-refundable charge, typically 40% to 50% of the traditional deposit.
Our risk-free deposit alternative plan (DAP) integrates easily into a utility’s existing systems and presents an attractive option for customers. Deposit Alternatives reimburses the utility for customer defaults, up to 125% of the traditional security deposit.
NOW MORE FLEXIBILITY THAN EVER:
DAP (deposit alternative plan—a smaller, non-refundable charge)
DAP-Plus (up to 125% reimbursement for utilities)
DAP Split Pay (split payment activation option for customers)
HOW IT WORKS
The utility forwards the fees and the required details (no confidential information required) for all new deposit alternative plan (DAP) enrollees in one monthly Enrollment Report.
The utility maintains existing Cancellation, Termination and Collection procedures for these enrollees, with the timing and process mirroring that of traditional deposit customers. The utility submits one monthly Reimbursement Request Report for all defaulting DAP customers.
See deposit-required account activitation and termination workflow charts here.
The utility provides Deposit Alternatives with historical data regarding customer activations and defaults. After analyzing this data, we present specific terms and conditions and reach a final agreement with the utility. Deposit Alternatives offers implementation assistance, and stands ready to assist with internal education, sample scripts or other needs.
Expert implementation assistance
Friendly sales team training support, including sample scripts
Thank you for choosing us. To activate service, we will require security and we offer a couple of options to best suit your needs. You may pay a one-time, non-refundable Deposit Alternatives charge of $80. Or, you may pay a standard security deposit of $200, which will be returned to you once you’ve established a satisfactory payment history.