No. Peac Solutions Business Bank does not charge opening or maintenance fees. The only fee would be related to an early withdrawal penalty. See question above on penalty for early withdrawal.
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Once you have completed your deposit account online, you have 60 calendar days to provide us with a few required documents before your account can be approved. You must deliver the required documents via Fax (1-856-813-2879), email them to [email protected] or upload the documents as instructed during the application to complete the account opening process.
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Interest on CDs is paid at the earlier of renewal, annually or at account closing.
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As with any CD, there is a penalty for withdrawal of principal prior to the maturity date.
The penalty will be the greater of half of the interest that would be earned for the term of the certificate of deposit on the amount withdrawn, or seven days’ interest.
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Interest on your CD is compounded daily. Interest will be paid by ACH credit to your checking account.
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See a list of commercial vehicle financing services here.
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See a list of security and surveillance equipment financing services here.
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See a list of telecommunications equipment financing services here.
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See a list of office equipment leasing services here.
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See a list of technology equipment financing services here.
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See a list of construction and industrial equipment financing services here.
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See a list of healthcare equipment financing services here.
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See a list of food service equipment financing services here.
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Download one here.
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Please note that if you will be mailing your payment, our remittance address is:
PO Box 13604
Philadelphia, PA 19101-3604
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Phone: (800) 421-3660
Email: [email protected]
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Phone: (877) 318-6756
Fax: (877) 456-6756
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Phone: (888) 236-2409
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Peac Solutions provides equipment financing for a broad range of industries. We’ll work with you to create financing solutions that cater to the distinct needs of your business. With extensive product knowledge and market expertise, we serve as more than just equipment financing specialists – we serve as an extension of your business.
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Peac Solutions provides equipment financing for a broad range of industries. We will work with you and create financing solutions to cater to the distinct needs of your business. Give us a call at (888) 318-6756 or simply apply online.
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Once your toolkit is complete, you will receive an email containing a direct link and URL. Please contact your account representative for more information.
*For qualifying partners
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This is our dealer tool that generates customer-specific financing quotes in seconds. Customers can choose from their ideal funding options and instantly apply.
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This is our online dealer portal for managing accounts from application to approval, including real-time views of applications, contracts and of customer statuses.
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This is our customer portal that makes accessing account information and paying bills as easy as possible.
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Peac Solutions uses tax software that is used by many leasing companies to compute the tax estimate. The software takes the contract’s assessed (depreciated) value and then multiplies that value by the tax jurisdictions previous year’s tax rate. If Peac Solutions has an actual tax assessment on file for the equipment, the rate used is 90% of the prior year’s assessment or 80% of two years prior.
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Under the terms of the lease agreement, the lessee agreed to reimburse Peac Solutions for any such taxes paid on the leased equipment.
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The property tax bill Peac Solutions receives contains information on all leased equipment in a given jurisdiction as opposed to a bill for each piece of equipment or for each lease. To preserve the confidentiality of our lessees, Peac Solutions cannot send you a copy of the actual tax bill, however Peac Solutions can send you a detailed breakdown for your lease. You may contact your local tax office to verify the asset information Peac Solutions is reporting on Peac Solutions’s filed tax return and to verify that the tax has been paid by Peac Solutions.
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Each taxing jurisdiction has a different lien date or fiscal start date for the year. There are 5 different lien dates used by jurisdictions: January 1st, March 1st, April 1st, July 1st and October 1st. Peac Solutions is required to report leased equipment owned on the jurisdiction’s lien date to the taxing authorities. The full tax for the equipment is incurred on the lien date. The tax is due even if the lessee business closes or the property is purchased, sold or transferred before the end of the year. For example, if in a January 1st taxing jurisdiction, a lessee pays off the lease on January 5th and sells the equipment, the taxing authority will still assess taxes for the full 2009 year. Under this example, these taxes would be due in 2010.
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Under the terms of the lease, a lessee is reimbursing Peac Solutions for property taxes paid on the lessee’s behalf. Many states consider this reimbursement as a taxable gross receipt for sales tax purposes. In these instances, Peac Solutions is required to collect and remit sales tax on this taxable gross receipt.
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This fee covers Peac Solutions’s cost of filing property tax renditions, corresponding with the taxing authorities and processing the property tax payments. The fee is assessed on leases that incur a property tax liability and is disclosed in the lease documentation.
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Peac Solutions, as the owner of the leased equipment, is required to report all leased equipment, even if the equipment is leased by lessees in the government, church or non-profit sectors. Since Peac Solutions is not a tax-exempt entity and is the owner of the equipment, the lessee’s tax exemption does not pass to Peac Solutions. The tax assessors of each individual jurisdiction make the determination as to whether or not to assess taxes on the assets.
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Other companies do charge their customers taxes usually by building the cost into the lease factor rate. Peac Solutions does not build property taxes into its lease rates. Instead, Peac Solutions breaks out the taxes as a separate line item on the lease invoice so that the lease payment is easier to understand.
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Each jurisdiction that collects personal property taxes, taxes the owner of the equipment. Peac Solutions is the legal owner of the equipment under the lease agreement. Under the terms of the lease agreement, the lessee agreed to reimburse Peac Solutions for any such taxes paid on the leased equipment.
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The property tax true-up is the reconciliation of actual property taxes paid by Peac Solutions on the leased equipment against the tax estimate the lessee was billed by Peac Solutions for a given tax year.
Most state and local jurisdictions’ in the United States have laws that require Peac Solutions to report leased personal property and pay taxes on this leased equipment annually. Peac Solutions will estimate the annual tax cost and then invoice the lessee that estimated amount at the start of every year that the lease is active.
In some cases, the actual taxes charged by the taxing jurisdiction(s) (city, county or state) are different from the estimated amount billed by Peac Solutions. If the actual taxes are less than the estimate the lessee will receive a credit or refund. If the actual taxes are higher than the estimate, the lessee is billed the difference.
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A true-up is when Peac Solutions reconciles the estimated taxes paid by the lessee to the actual tax billed by the tax jurisdiction. If the lessee overpaid the taxes, they will receive a credit, via check or credit to rental due. If the lessee underpaid, Peac Solutions will invoice the difference. This is a standard practice with leasing companies.
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Peac Solutions is the legal owner of the equipment you lease. Peac Solutions is required by law to pay business personal property taxes on an annual basis to the taxing authorities in the jurisdiction where the leased equipment is located. Under the terms of the lease agreement, you (the lessee) agreed to reimburse Peac Solutions for any such taxes paid on the leased equipment.
Peac Solutions calculates the anticipated tax liability of the leased equipment and invoices the lessee this estimate on an annual basis. Once Peac Solutions receives the actual property tax bill from the lessee’s taxing jurisdiction(s), Peac Solutions reconciles the estimate paid by the lessee against the actual taxes paid by Peac Solutions to the taxing jurisdiction. This property tax reconciliation results in a refund or credit, if the estimate paid Peac Solutions is higher than the actual tax Peac Solutions paid to the taxing jurisdiction. Conversely, the lessee will be billed the difference if the estimate was lower than the actual taxes paid by Peac Solutions to the taxing jurisdiction.
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Your contract may require you have insurance that protects the equipment against all risks of loss. There are two options available to you:
Option 1
You can cover the equipment under an existing commercial policy. If you are required to have your equipment insured, you will receive a letter from our Insurance Service Center that will explain your options in more detail.
Option 2
In the event we do not receive evidence of other insurance, we will secure coverage for our interest in the equipment and bill you a fee for such coverage. We will be the beneficiary of this coverage and will be the insured party under a master insurance policy.
This is a general overview. For complete details, please contact our Insurance Department at 877-733-4433.
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In the process of financing your new equipment, you will need a Peac Solutions W-9 form.
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For an in-depth explanation of your invoice, click here.
If you have a question or a dispute about your invoice call customer service at (888) 236-2409. Representatives are available from 8:00 AM to 8:00 PM EST, Monday through Friday. -
To request a copy of your lease:
- Log in to Lease Services
- Click on Documents
- Select Copy of Lease
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Peac Solutions offers you many flexible ways to make payments on your lease and loan contracts. You can make one-time or recurring payments in the following ways:
• Online via Lease Services Customer Connect Portal
• By telephone: 1-888-236-2409
• By mail: PO Box 13604, Philadelphia, PA 19101-3604Mailing Your Payment
Please note that if mailing your payment, allow extra days for postal delivery. All payments, regardless of method, that are received by 11:59 pm (EST) on your due date will be considered on-time. Payments received after 11:59 pm (EST) on your due date will be considered late and may incur a late fee.
Please do not send cash, checks with skirts/stubs, or stapled checks to the invoice portion. Non-conforming payments could result in delayed application of your payment to your account.
If you choose to mail you payment into us, please be sure to:
1. use the envelope provided
2. include the upper portion of your invoice with your payment
3. include only one check for total amount due
4. write your contract number in the check’s memo field -
The rebrand will not impact your existing products or relationships with Peac Solutions. Our commitment to our customers and partners has always been our top priority and that will never change. You will continue to work with your existing Peac Solutions representative and have access to the same support team.
As part of the roll-out, our emails will eventually change to reflect our new brand, but you will not need to do anything differently. All emails will simply redirect to their new address. We constantly strive to make our process and service the best that it can be, so you will continue to receive the highest level of attention and service that you have come to expect from Peac Solutions.
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As a valued customer, you will continue to be able to view and pay invoices, take advantage of exclusive product offers and obtain customer support the same way you always have with Lease Services. After our launch in early February, you will automatically be directed to our brand new site. While the site will look different with new colors, images and our logo, the information will be the same.
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As a valued partner, you will continue to have access to our quick and easy quoting and application tools that will help you turn potential customers into new customers. Our current URL will automatically redirect to our new site. If you have the old URL on any of your printed sales materials, please update it to the new URL after our launch in early February. For additional questions such as obtaining logos or collateral, please contact your Peac Solutions Representative.
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You can pay your bill online at Lease Services using your checking/savings account.
To pay your bill online:1. Log in to Lease Services Customer Connect Portal
2. Click on the Pay Bill button
3. Click on the Make a Payment option
4. Follow the online instructions to add, edit, or delete your online payment options -
Peac Solutions offers you many flexible ways to make payments on your lease and loan contracts. You can make one-time or recurring payments in the following ways:
• Online via Lease Services Customer Connect Portal
• By telephone: 1-888-236-2409
• By mail: PO Box 13604, Philadelphia, PA 19101-3604Mailing Your Payment
Please note that if mailing your payment, allow extra days for postal delivery. All payments, regardless of method, that are received by 11:59 pm (EST) on your due date will be considered on-time. Payments received after 11:59 pm (EST) on your due date will be considered late and may incur a late fee.
Please do not send cash, checks with skirts/stubs, or stapled checks to the invoice portion. Non-conforming payments could result in delayed application of your payment to your account.
If you choose to mail you payment into us, please be sure to:
1. use the envelope provided
2. include the upper portion of your invoice with your payment
3. include only one check for total amount due
4. write your contract number in the check’s memo field -
To set up the Autopay feature:
1. Log in to Lease Services
2. Click on View/Pay Bill
3. Click Configure Autopay -
Please note that if you are disabling the Autopay feature, all scheduled payments must be cancelled manually. Payments that are not manually cancelled will be processed.
To cancel scheduled payments:
1. Log in to Lease Services
2. Select Bill Pay
3. Cancel all scheduled payments under the Payment History tab. -
First, log in to you MyMarlin account. Then, confirm if you have set up a threshold/amount withdraw in autopay settings, whether or not the threshold entered is enough to cover the amount invoiced, and that you manually paid the current invoice at the time of set up for autopay.
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There are various categories of items listed on your invoice. These might include contract payment, taxes, miscellaneous fees and late fees. Your payment is applied to the categories due on your contract(s) in the following order:
(1) past due items, excluding late fees, by oldest date invoiced
(2) current contract payment
(3) current sales tax
(4) current miscellaneous fees
(5) late fees
The below scenarios are based upon receipt of current invoice with payment. If payment is remitted with an outdated invoice, any remaining open charges on that invoice will be paid including late, taxes and or fees.
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We want to be sure your invoice is easily understood. Below you will find some of the terms on your invoice and their definition.
Contract Payment
This is the regular monthly/quarterly/annual payment amount, according to your contract.
One-time Documentation Fee
Peac Solutions does not charge an application fee. We may charge a fee to compensate us for processing the documents and reimburse us for the fees incurred with filing UCC-1 financing statements. When applicable by law, taxes may be applied to this fee.
Interim Rent (Partial Month Payment)
After we confirm that the equipment has been delivered and we’ve received all of the required documents, your equipment supplier is paid. We then set up the contract on our billing system and an invoice is sent to you for the first payment due. This payment covers the following full 30-day period. Included on the first invoice is a charge for interim rent, which covers the period between when we pay your vendor and when the first lease payment is due. When applicable by law, taxes may be applied to this fee.
Sales/Use Tax
In most states and some local jurisdictions, we are required to collect sales/use tax on each monthly payment. Since the lease payment was calculated in advance and tax rates can change periodically, this amount is billed separately. In certain states, the full amount of tax is due at the inception of the lease. In these situations, the tax is added to the equipment cost to calculate the monthly payment. When applicable by law, taxes may be applied to late charges, one-time documentation fees, insurance, property tax and interim rent. Other taxes you may be subject to are CA E-Waste, Chicago Use Tax, FL Doc Stamp and TN Single Article. If you believe that you are exempt from sales/use tax, please email an exemption certificate to Customer Care.
Property Tax
Many local jurisdictions assess an annual tax on tangible personal property. The lessor, as owner of the equipment, pays this tax to the appropriate taxing authority. (Our lease rate does not include this tax.) We pass this tax on to you on an annual basis. Again, these taxes change periodically and are not included in the calculation for the base monthly payment. We may bill you our estimate of the taxes and reconcile your account when the actual tax figures are received from the applicable jurisdiction. The billed amount may also include an annual property tax administration fee of up to $25. When applicable by law, taxes may be applied to this fee.
- If the equipment location is in California and you have a $1.00 purchase option lease, your property tax jurisdiction will bill you directly.
- If the equipment is in Tennessee, your property tax jurisdiction will bill you directly.
- If your local property tax jurisdiction in California or Tennessee bills you directly, you will not be billed an estimate from Peac Solutions.
- If the equipment is located in the following states, no property tax will be assessed and you can disregard this notice: Delaware, Iowa, New Jersey, Ohio, Hawaii, Minnesota, New York, Pennsylvania, Illinois, New Hampshire, North Dakota and South Dakota.
- We ask that if you have other business equipment to report to your local jurisdiction that you please list the Peac Solutions lease information in the “leased from” section of the property tax report. This will help avoid double assessment of property tax.
- If you believe that you are exempt from property tax, please understand that the tax assessment applies to Peac Solutions and your exemption will generally not apply to the property taxes assessed to Peac Solutions.
Review the Property Taxes FAQs in our Help Center for more information.
Late Charge
If we receive your payment after the due date on the invoice, you may be assessed a late charge. The amount is calculated as a percentage of the invoice amount past due, less taxes, or may be a flat charge, depending on the terms of the contract you signed. You will receive a one-time waiver of the first late charge assessed if you call customer service at the number on the reverse side of your invoice and request it.
Returned Check Fee
If your payment is returned from your bank for any reason, we may charge you a fee.
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To view your last invoice:
- Log in to Lease Services
- Click on View/Pay Bill
- Click on Invoices
