Due to COVID-19, our industry is facing unprecedented challenges. Many clubs are temporarily—or, in some cases, permanently—closing their doors.
In doing our part to preserve your business and contribute to the sustainability and longevity of the industry we all love so dearly, we are making some changes to mitigate liability in these uncertain times. We are actively monitoring gym collections during this time and, unsurprisingly, we are seeing an increase in member chargebacks and/or refund demands.
Effective immediately, ASF will hold 10% of all membership collections in reserve until 30 days after the applicable facility has reopened and is operating under normal circumstances. Funds reserved on your account will be held and safeguarded for your benefit and, until released back to you, will only be used to pay chargebacks and/or refund demands raised from your members, or other fees that are owed to ASF from time to time. Doing this will prevent both you and ASF from being liable if or when members perform chargebacks and/or demand refunds through their credit card providers and automated clearing houses. The reserve funds will be released to you once the COVID-19 crisis is behind us.
We will continually monitor and reevaluate this policy as this industry crisis unfolds. This action is to help ensure that your business can weather the storm and be in the best possible position once clubs reopen.
We are happy to answer your questions. Please reach out to our Client Support team at 1-800-527-6898.
