Overview
Tenstreet Xchange was originally created to offer a free option for carriers to request and provide employment verifications online, offering a streamlined paperless solution that automated an effortful process and saved drivers and carriers time.
Due to the changing verification-providing landscape, and an increase we've seen in carriers that want to charge for faster turnaround, we are now offering options for Network Providers to keep pace with carriers that charge for responses and cause additional administrative costs for their company.
Tenstreet does not endorse the idea of charging for VOEs and still believes that the information should always remain free and immediate. Unfortunately, since the market is shifting in this direction, we will offer this option and hope the trend will eventually be recognized as a situation where everyone trades the same fees back and forth and no one wins. In the meantime, we are allowing Network Providers to Charge.
Provider Settings
If you are being charged for an employment verification through Tenstreet, this is from a setting on the Provider's side. The Network Provider has the option to charge on different levels. There are 3 default settings:
- For requestors who are also Network Providers, they can charge either a default pricing or Reciprocal:
- For Requestors who use a 3rd Party for their VOE responses:
- For Requestors that are Non-Network and do not use the above 3rd Parties:
The Provider also has the option to set individual charges at the carrier level:
Each one of these settings are controlled in the client's Xchange Tools tab. If you are being asked to pay for an employment verification, it is due to the type of requestor you are in relation to the setting the Provider has set on their end.
Free Option
With each of these paid settings, there is a free option the carrier will set with a number of days delayed. The Carrier can set anywhere between 1 and 27 days. When requesting, if you choose the free option, the request will not be sent to the carrier until that preset number of days.
Please note, you will not be able to resend a request until the initial request is sent to the Provider after the pre-set number of days.
Xchange Automation
If you are using Xchange Automation to automatically request verifications of employment, you will want to update the settings under Xchange Controls. Here you will be able to select if you want to use a 'Free' or 'Paid' option for Providers who charge. If you select 'Paid', you can also set a limit before rejecting the order.
You will be able to add credit cards under the billing tab to cover Xchange Requests and then you can set which card should be used for the automated requests
Billing
All funds for Xchange Providing (both paying and receiving) will go through Tools->Billing (the same area where you can load funds for PSP and Job Store). These funds will need to be added prior to Xchange requesting.
Please note, you will not be charged until you receive a response from the carrier. You also will not be charged for Refusals.
Tenstreet will charge a minimal amount to cover the maintenance costs. The fee will be 10% of the total of each verification.
When requesting, the system will check to ensure you have funds loaded.
Currently, your funds are accessible for future Xchange request, PSP, or Job Store ordering.
Under the billing tab, you will be able to see the transactions (as before) but now you will see an additional 'Product' for Xchange Response.