FAQ
Q: How much do the Flex Services cost?
The Flex Services are discounted to approved student, affordable housing or military members for a monthly membership fee of $4.99, which includes access to a Flex Line of Credit account from Blue Ridge Bank at 0% APR. Flex also charges a payment processing fee of 0.75% of the monthly rent payment, assessed on each repayment.
Q: How does the Flex Services monthly membership fee work?
Flex charges a monthly membership fee as a subscription service. That means you will be charged the monthly membership fee each month for your ability to access Flex Services. The monthly membership fee does not vary based on whether you use the Flex Services. The Flex Services auto-renews each month unless you pause or cancel your membership no fewer than 5 days prior to the end of the preceding month.
Q: How is the payment processing fee calculated?
For each month you use Flex Services to pay your rent, we will charge you a payment processing fee equal to 0.75% of your monthly rent payment amount. For example, if your rent amount is $1,000, the payment processing fee is $7.50 ($1,000 * 0.0075). The payment processing fee is payable to Flex and assessed on each repayment.
Q: Can I pause my Flex Services membership?
If you do not wish to use Flex Services to pay your rent payment in a specific month, you may pause your Flex Services membership by emailing us at [email protected]. The pause option allows you to pause your Flex Services membership while keeping your Flex Line of Credit account open. Flex will continue to report your Flex Line of Credit account as open to TransUnion, but you will be unable to use any of the Flex Services while your account is paused. You must pause your Flex Services membership no fewer than 5 days prior to the end of month to avoid being charged the Flex Services membership fee for the next month. If you miss this deadline to pause, you will be charged the monthly membership fee on the 15th of the following month, regardless of whether you use Flex to pay your rent for the month.
Q: What happens if I cancel my Flex Services membership?
If you cancel your Flex Services membership, you will no longer be able to use Flex Services to pay your rent. In addition, we will close your Flex Line of Credit account once your remaining balance is $0 and we confirm that no additional charges are due. We will report your Flex Line of Credit account as closed to TransUnion.
Q: How do I cancel my Flex Services membership and close my Flex/Blue Ridge Bank Credit Line account?
You can cancel your Flex Services membership by emailing us at [email protected]. You must cancel your Flex Services membership no fewer than 5 days prior to the end of month to avoid being charged the Flex Services membership fee for the next month. If you miss this deadline to cancel, you will be charged the monthly membership fee on the 15th of the following month, regardless of whether you use Flex to pay your rent for the month.
