Retail Sales Finance/GE Money Bank was the internal GE Money label for a retail vendor or store card financing transaction. Separating from its retail financing arm, GE Money Bank has rebranded as GE Capital Bank. Synchrony Financial is now in charge of Retail Sales Financing. Customers should get in touch with Synchrony Financial if they have any questions about cashing RSF/GEMB checks. The only difference is the new name; all previous account information and procedures are still valid.
General Electric Capital Corporation’s former Utah-based industrial bank, GE Money Bank, is now known as GE Capital Bank. GE Capital is a commercial finance bank that offers a variety of services and leverages customer deposits to make loans and leases to businesses. Transportation, material handling, construction, franchise, health, and inventory are just some of the many sectors represented among GE Capital’s company and individual clients.
In the spring of 2014, GE announced that its retail lending division, which would be renamed Synchrony Financial, will be spun out as a separate company. Short-term, GE maintained an interest in the new firm, but the company announced plans to divest itself of all holdings in Synchrony Financial by 2015. This strategy shift was previously stated by the company, which was hoping to remove a profitable but volatile financing unit from influencing its overall business performance.
Many customers may be confused about how to handle matters such as RSF/GEMB check payments because GE was previously the largest provider of private label credit cards, processing cards for businesses such as JCPenney, GAP, TJ Max, Wal-Mart, Lowe’s, eBay, and PayPal. For further information, please contact Synchrony Financial’s customer care team.