What fee does Degree Wellness charge for a check that is not honored by the bank?
Degree_Wellness Franchise · 2025 FDDAnswer from 2025 FDD Document
ghest commercial contract interest rate permitted by state law, and (ii) the rate of fifteen percent (15%) per annum. You acknowledge that the inclusion of this Paragraph in this Agreement does not mean we agree to accept or condone late payments, nor does it indicate that we have any intention to extend credit to, or otherwise finance your purchase or
operation of the Franchise. We h
Source: Item 23 — Receipts (FDD pages 66–257)
What This Means (2025 FDD)
According to Degree Wellness's 2025 Franchise Disclosure Document, if a franchisee's check is not honored by the bank, Degree Wellness has the right to charge a fee of $100. This policy is in place to cover the administrative and financial costs Degree Wellness incurs when a payment is rejected by the bank.
Degree Wellness also has the right to demand that future payments be made via certified or cashier's check, wire transfer, or electronic funds transfer. This ensures that Degree Wellness receives payments in a more secure and reliable manner. This requirement can be triggered if a franchisee has a check returned.
It is important for prospective Degree Wellness franchisees to be aware of this fee and ensure they have sufficient funds available when making payments by check. Utilizing electronic funds transfer may help avoid this fee. Franchisees should maintain good communication with Degree Wellness regarding payment methods and any potential issues to avoid penalties and maintain a positive business relationship.