RSF/GEMB stands for Retail Sales Finance/GE Money Bank, and it was GE Money's in-house designation for a transaction financed through a retail vendor or store card. GE Money Bank is now GE Capital Bank, and has separated itself from its retail financing unit. The new company in charge of Retail Sales Financing is Synchrony Financial. To inquire about RSF/GEMB check payments, customers should contact Synchrony Financial. All account information and procedures remain the same; only the name has changed.Continue Reading
GE Money Bank, now GE Capital Bank, is based in Utah and is an industrial bank owned by General Electric Capital Corporation. GE Capital acts as a multiproduct commercial finance bank, and the financial institution uses deposit accounts to fund commercial loans and leases. Customers of GE Capital are often businesses or even individuals in industries like transportation, material handling, construction, franchise, health care and inventory.
In the spring of 2014, GE announced that it would separate from its retail financing unit, and the new unit handling retail financing would be called Synchrony Financial. Though GE maintained interest in part of the new company in the short term, it said it planned to make a complete exit of any interest in Synchrony Financial by 2015. The company had previously announced plans for this strategic move, seeking to remove a profitable, albeit unpredictable, financing unit from affecting its overall business performance.
Prior to this move, GE was the largest provider of private label credit cards, handling cards for retailers like JCPenney, GAP, TJ Max, Wal-Mart, Lowe's, eBay, and PayPal, so many customers might have questions about how to handle things like RSF/GEMB check payments. Questions should be directed to the customer service department at Synchrony Financial.Learn more about Personal Banking