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BBMS rate hike means we need a Payment Plan Fee to cover the extra costs

Kate Kovacs

With Merchant Services recent huge rise in rates per transaction, we now have to absorb a much larger amount for payments that use ACH (all of them). We can't legally pass on fees in CT, but we can charge for the Payment Plan choice, 9 months…does any other school charge a Payment Plan Fee? What is typical? We'd need to charge much more than we used to in order to encourage families to choose a less transaction heavy option…

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Comments

Eileen Grabowski

@Kate Kovacs Hi Katie, We are also located in CT. We don't charge families for the full or two payment options, but charge $50 for four payments, $75 for 10 payments and $100 for 12 payments.

Julie Johnson

@Kate Kovacs Hi, We charge $30 per installment for “invoice and payment processing.” The 1-Pay plan is $0, the 2-Pay plan is $60 total, the 4-Pay plan is $120 total and the 12-Pay/Monthly is $360.