Retail Sales Finance/GE Money Bank (RSF/GEMB) was GE Money’s internal term for a transaction financed by a retail vendor or store card. GE Money Bank has changed its name to GE Capital Bank and split itself from its retail lending division. Synchrony Financial is the new corporation in charge of retail sales financing. Customers should contact Synchrony Financial with questions about RSF/GEMB check payments. The name has changed, but the account information and procedures have not.
The industrial bank GE Money Bank, formerly GE Capital Bank, is situated in Utah and is controlled by General Electric Capital Corporation. GE Capital operates as a multiproduct commercial finance bank, and it funds commercial loans and leases using deposit accounts. Businesses and even individuals in areas like as transportation, material handling, construction, franchise, health care, and inventories are frequent GE Capital customers.
GE stated in the spring of 2014 that it will separate from its retail financing unit, and that the new retail financing unit would be known as Synchrony Financial. GE announced it expected to withdraw any involvement in Synchrony Financial by 2015, despite maintaining a short-term interest in a portion of the new company. The company has previously stated that it intended to make this strategic step in order to decouple a profitable, albeit volatile, financing unit from its overall business performance.
GE was the leading provider of private label credit cards prior to this shift, handling cards for businesses such as JCPenney, GAP, TJ Max, Wal-Mart, Lowe’s, eBay, and PayPal, therefore many customers may have doubts regarding how to process RSF/GEMB check payments. Questions should be directed to Synchrony Financial’s customer support department.
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