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#1959059 - 09/03/14 07:43 PM Gas Stations
TryingtoComply Online
Diamond Poster
Joined: Apr 2013
Posts: 1,997
The West
Approximately 15% of our high risk customers are gas stations with convenience stores. Does anyone have any good sources that they use to help in the EDD review for these types of businesses? What do you consider when you do your EDD review? I've compared all of the gas stations to each other; however, there are significant differences in activity which I believe is strongly based on the location.

Any advice for monitoring this type of customer is greatly appreciated.
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TryingToComply
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#1959071 - 09/03/14 08:18 PM Re: Gas Stations TryingtoComply
MagicCity Offline

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MagicCity
Joined: Apr 2003
Posts: 3,003
Fort Lauderdale, Florida
We look at location, number of pumps and sources of cash;
for example, do they sell lotto, hot food, other items, size of convenience store, hours of operation, WU agent etc.
I also calculate the percentage of cash vs total deposits and look for trends and fluctuations.

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#1959110 - 09/03/14 09:36 PM Re: Gas Stations TryingtoComply
TryingtoComply Online
Diamond Poster
Joined: Apr 2013
Posts: 1,997
The West
We do the same. However, I was wondering if there are any industry resources that we could use to determine if the activity we are seeing makes sense.
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#1959209 - 09/04/14 02:16 PM Re: Gas Stations TryingtoComply
joser Offline
Member
Joined: Sep 2005
Posts: 68
NJ
We will also look at gasbuddy.com for competing gas prices - we have competing stations and it can sometimes help to explain the difference in higher cash volume due to lower prices as well seasonal changes. In addition we look at our State's list of Licenced Motor Fuel Distributors, Licenced Gas Retail Dealers and Licenced Fuel Suppliers Terminal Operators - just to help ensure payments to "no-name" brand suppliers or unfamiliar ones are legitimate and in fact the gas station is licenced to do business.

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