Not sure if colleges/universities have a different agreement than the standard merchant one..
I got this in my email:
"5. The University accepts credit card payments via the Internet only.
Credit card payments are not taken at the cashiers windows or by
telephone. You may login to your online student account to make a
credit card payment. A 2.5% convenience fee will apply. As an
alternative, you may pay by E-check for a flat $5.00 fee. "
Anyone know?
Full Version: Can Universities/colleges charge extra for paying by CC?
QUOTE(ghost @ Jan 4 2007, 12:10 AM) 
Not sure if colleges/universities have a different agreement than the standard merchant one..
I got this in my email:
"5. The University accepts credit card payments via the Internet only.
Credit card payments are not taken at the cashiers windows or by
telephone. You may login to your online student account to make a
credit card payment. A 2.5% convenience fee will apply. As an
alternative, you may pay by E-check for a flat $5.00 fee. "
Anyone know?
I got this in my email:
"5. The University accepts credit card payments via the Internet only.
Credit card payments are not taken at the cashiers windows or by
telephone. You may login to your online student account to make a
credit card payment. A 2.5% convenience fee will apply. As an
alternative, you may pay by E-check for a flat $5.00 fee. "
Anyone know?
They may use a third party to process the credit card payments, thus the surcharge* is ok. I want to say, however, that the charging of a percentage is still wrong and that it must be a flat fee, but I forget off the top of my head and have to leave in a few minutes so I don't have time to go look it up right now.
Check to see if the internet payment option directs you to another site to actually make the payment.
* - Yes, it is still a surcharge regardless of the semantics or anything else.
They are not allowed to charge a fee for using a credit card.
However, some Universities process payments through a 3rd party. That third party charges a fee -- NOT FOR THE CREDIT CARD, because that would mean the 3rd party processor is breaking the rules -- but for their service as a payment processor.
As far as it being a "convenience fee"... it's convenient for the 3rd party... but I'm with GEORGE on the idea of "when did it become a convenience to pay a fee?"
I'm glad my University processes credit card payments in-house and has no fees (if you want to charge the entire tuition/housing bill to a credit card you can do that -- in fact some parents do that and then mommy and daddy get a free flight for it.)
However, some Universities process payments through a 3rd party. That third party charges a fee -- NOT FOR THE CREDIT CARD, because that would mean the 3rd party processor is breaking the rules -- but for their service as a payment processor.
As far as it being a "convenience fee"... it's convenient for the 3rd party... but I'm with GEORGE on the idea of "when did it become a convenience to pay a fee?"
I'm glad my University processes credit card payments in-house and has no fees (if you want to charge the entire tuition/housing bill to a credit card you can do that -- in fact some parents do that and then mommy and daddy get a free flight for it.)
hmmmmmmmmmmm
I think MarvBear needs to open up a payment processing plant.
I think MarvBear needs to open up a payment processing plant.
federal laws says goverment agencies can charge a fee so taxex tickets and schools can charge you a fee
QUOTE(playthecreditgame @ Jan 4 2007, 08:46 AM)
They may use a third party to process the credit card payments, thus the surcharge* is ok. I want to say, however, that the charging of a percentage is still wrong and that it must be a flat fee, but I forget off the top of my head and have to leave in a few minutes so I don't have time to go look it up right now.
Check to see if the internet payment option directs you to another site to actually make the payment.
Check to see if the internet payment option directs you to another site to actually make the payment.
Yep, NYU does the same. Their credit card payments are processed by a 3rd party. At times the surcharge is a 'necessary evil' if someone doesn't yet have cash available to pay via e-check. I hate the percentage though as it's not an inconsequential amount of money.
I learned some interesting information today...
Apparantly, it is cheaper for my university to require credit card payment for some items and accept credit cards for everything than to deal with cash and cheques.
Apparantly, it is cheaper for my university to require credit card payment for some items and accept credit cards for everything than to deal with cash and cheques.
BANKING THOSE CHECKS AND CASH MUST BE FREE...
100% POSITIVE NO BOUNCED CHECKS???
100% POSITIVE NO BOUNCED CHECKS???
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