Payment Options at Winthrop University
New payment options went into
effect November 13, 2006. Please read the following information
carefully.
Electronic
Checks
Winthrop University will begin accepting electronic checks as a
method of payment. This will allow you to pay by check via the web and
receive immediate credit for your payment. E-check payments may be made
at the fee payment site on the Cashiers webpage at
Paying Over The Internet
or at
WINGSPAN .
There will be no charge for this service. Please note that the Cashiers Office
will also continue to accept check payments by mail or in person as well as cash payments in person.
Credit Card Web
Only Payments and Transaction Fees
In our continuing
effort to keep costs contained, we must change the way we accept credit card
payments for student account charges. The cost to the University to
provide credit card service exceeds $200,000 annually and costs continue to
rise. By changing the way we accept credit cards, these funds can be
redirected to our primary role of instruction.
Winthrop University will continue to accept
credit card payments for tuition, room, board and other fees through the
Cashier’s online secured payment gateway at Paying Over The Internet
or at WINGSPAN .
However, for your added security, credit card information will no longer be
accepted at the Cashier’s teller windows, via telephone or mail. In
addition, all credit card transactions will be assessed a 2.5%
transaction fee.
Visa cards will no longer
be accepted. Because VISA requires a flat rate for transaction fees for
any credit cards accepted,
Visa cards can no longer be accepted. However, American Express
cards will now be accepted, along with MasterCard and Discover.
In summary, effective November
13, 2006,
Winthrop offers the following payment options:
· E-check/ACH payments with no transaction
fees at
Paying Over The Internet
· American Express, MasterCard,
Discover credit card payments only via the Web with a 2.5% transaction fee at
Paying Over The Internet
· Check and Money Order payments via U S mail
or in person at the Cashiers Office, 22 Tillman Hall
· Cash payments in person at the Cashiers
Office
Winthrop is working hard to
keep costs down while maintaining the high quality of our academic
programs. Changing the way we accept credit card payments allows us to
significantly reduce costs while providing a variety of payment options to meet
individual needs. In addition, by
implementing these changes, security will be enhanced because no written
information regarding credit card or bank information will be handled or
filed. Even Winthrop personnel will not
have access to credit card numbers.
Here are a few frequently asked
questions regarding the changes in payment options that went into effect
November 13, 2006.
What will change?
Effective November 13, 2006, the University implemented changes
regarding payment options for tuition and fees. These are the primary changes
that result from the new policy:
- Students and parents will be able to make payments directly
from any checking or savings account by using the new web payment option
(Electronic Funds Transfer) with no additional charges, simply by entering
the bank/financial institution routing and account number information at
the time of online payment.
- The Cashier’s office will no longer accept credit card
payments for tuition and fees at the teller windows, by mail or by
telephone. Credit card payments may be made through the Cashier’s online
secured payment gateway at
Paying Over The Internet
or at
WINGSPAN
. A convenience fee of 2.5% of the
total payment amount will be charged to the student’s account when
choosing the Credit Card payment option.
This
convenience
fee will be added to the charge amount.
- Visa branded credit cards will no longer be accepted for
payments made for tuition and mandatory fees.
- American Express cards have been added to Discover and MasterCard
as credit card payment options made through the Cashier web site.
Why
were these changes made?
While credit card payments offer a
convenient manner for students and parents to pay tuition and fees, the cost to
the University for providing this convenience has grown to more than $200,000
annually. Given the tightened budget situation, the University has decided to
require those who want the convenience of paying with a credit card to cover a
portion of the University's cost of providing the service. This change will
benefit the University and all of its students by enabling the University to
allocate the savings to instructional purposes.
How was the 2.5%
rate determined?
The credit card companies allow the
University to recover the direct costs incurred to provide internet payment
capabilities. The rate is based on an estimate of those direct costs. At this
percentage rate, the University will continue to pay for a portion of the cost
of accepting credit cards.
Why
eliminate Visa branded debit and credit cards?
The University was unable to
negotiate an acceptable method of assessing an appropriate convenience charge
to tuition and fee payments. Unlike the other brands of cards, Visa will not
allow the University to assess a convenience charge that varies with the amount
of the tuition and fee bill.
Are
other colleges and universities making similar changes?
Many colleges and universities both
within and outside of South Carolina have already made similar changes to their
practices of accepting credit cards. Winthrop University has attempted over the past year to
negotiate changes in its arrangements with its credit card providers to avoid
having to make these policy changes. However, like other institutions, those
negotiations have had limited success.
What
should I do if all I have is a Visa card?
In addition to accepting American
Express, MasterCard and Discover credit cards over the internet subject to a
convenience fee, students and parents will be able to make payments directly
from any checking or savings account by using the new web payment option
- electronic checks, simply by entering the bank/financial institution
routing and account number information at the time of online payment. The
University will also continue to accept check payments by mail and payments
made by cash and check at the Cashier’s Office teller windows. To obtain
information about government or alternative loans -- all with much lower
interest rates than typically found on credit cards -- students and families
can link to the
Financial Aid Office
. If you do prefer to pay by credit card, you may apply for a MasterCard,
Discover Card or American Express card at the company’s website.
Can I phone in my credit card information or
mail it to you?
Credit card information will not be
accepted through the mail or by telephone.
All credit card transactions must be handled through the Cashier’s
website or through WINGSPAN. By implementing these changes, security will be
enhanced because no written information regarding credit card or bank
information will be handled or filed. Even
Winthrop University personnel will not have access to credit
card numbers.
How will the monies that are collected from this fee be used?
The monies collected will be used
to defray a portion of the cost of providing convenient electronic payment
options for those who wish to pay via credit card. This change will benefit the
University and all of its students by allowing the University to allocate those
savings to instructional purposes.
Are there payment
options other than the internet?
I am a
parent and do not have access to a computer or don’t want to send my credit
card or banking information over the internet.
How do I pay?
Winthrop will continue to accept cash and check payments at
the teller windows in the Cashier’s Office as well as check payments received
in the mail. In addition, you may want
to consider setting up a checking account for your student in your area – you could
then deposit funds into the student’s checking account and have the student
make payments by check at the teller windows in Cashier’s.
Who can I talk to
about these changes?
Questions may be directed to the Cashier’s
Office at 803-323-2167 or the Controller’s Office at 803-323-2165.
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