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Credit Card Policy Changes



Belmont University Credit Card/Debit Card Policy

During our most recent budget planning cycle, we looked intentionally at the bank merchant fees associated with processing credit card payments for tuition, fees, housing, meal plans, and other charges to the Belmont Student account. We concluded that the fees did not advance the educational value to students or the overall student experience, and after careful evaluation and consideration, we decided that beginning July 15, 2010, Belmont will no longer absorb the cost of credit card fees for these items.

Letter from Steve Lasley, Vice President, Finance and Operations

Frequently Asked Questions

What will change?

What is TouchNet?

Why are we using a third party vendor?

How was the 2.75% (min. $3) rate determined?

What credit cards can I use to pay student account charges?

Why is VISA no longer accepted? 

Why can’t I see the convenience fee charge on my student account?

Why can credit card payments for student account charges only be accepted online?

How can I pay my bill?

If I use my debit card to pay my student account charges, will I be charged the convenience fee?

I do not have access to a computer. How should I pay my bill?

Is the convenience fee refundable?

If I make a credit card payment in error will my convenience fee be refunded?

What if I’m getting a refund for tuition and fees, because of a credit balance on my student account and I paid my account with a credit card?

How can I pay my student account and avoid the convenience fee?

Will Belmont University accept credit card payments for non-student account charges?

What will change?

Belmont Central will no longer accept credit card payments for tuition, fees, housing, meal plans, and other charges to the Belmont Student account beginning July 15, 2010.

Instead, credit card payments can be made via the TouchNet PayPath Payment Service. This service will be available beginning July 15, 2010 by going to the student portalhttps://my.belmont.edu/ and signing in with your ID and password. TouchNet will assess and collect a convenience fee of 2.75% that will be included in the total payment amount. This fee will be charged at the time of processing.

Visa branded credit and debit cards will no longer be accepted for payments made for tuition and fees.

Online payments using an electronic check (echeck) will continue to be available at no cost.

What is TouchNet?

TouchNet is the third party vendor with whom Belmont University has contracted to provide secure online payments and with whom Belmont University additionally has contracted to process online credit card payments on student accounts.

Why are we using a third party vendor?

Belmont University has been absorbing the credit card processing fees charged by credit card companies. These fees have been increasing at an alarming rate. Although some colleges and universities have chosen to no longer accept credit or debit cards, we determined it would be a disservice to our University communities if we eliminated them altogether. The vendor, TouchNet, has the expertise in online payment systems to meet all security and privacy issues and meets the banking and credit card industry compliance requirements. Our contract with them ensures that the processes are compliant with the Family Educational Rights and Privacy Act (FERPA) and the Gramm-Leach-Bliley (GLB) Act.

How was the 2.75% (min. $3) rate determined?

That rate is determined by our vendor, TouchNet. The service charge fee is charged (min. $3) and collected by TouchNet.

What credit cards can I use to pay student account charges?

You may make student account payments to TouchNet with American Express, MasterCard and Discover cards. Beginning July 15, 2010, VISA will not be accepted for student account payments.

Why is VISA no longer accepted?  

VISA's credit card rules will not permit a company/vendor to charge a percentage convenience fee.  Also, to accept VISA cards, VISA would require the University to apply a convenience fee for eCheck (ACH) transactions rather than eChecks (ACH) being a free service to the student or authorized payer.

Why can't I see the convenience fee charge on my student account?

The convenience fee is assessed by our vendor, TouchNet, not Belmont University, so it will not appear on your student account. The convenience fee will appear as a separate charge on your credit card statement.

Why can credit card payments for student account charges only be accepted online?

Credit card charges for student account payments will be processed by our vendor, TouchNet, not Belmont University. Because of that, Belmont Central can no longer accept credit card payments in person, by mail, over the phone, or via fax. Belmont Central will continue to process check and cash transactions without a convenience fee.

How can I pay my bill?

Online: You can pay online through the https://my.belmont.edu/

using e-Check (at no cost), or by credit or debit card (American Express, Discover or MasterCard). If you use a credit card or debit card you will be charged a 2.75% (min. $3) service fee by TouchNet. You will not be charged a fee if you pay online by e-Check. In addition, students are able to designate parents, grandparents, etc., as Authorized Payers who can pay online through TouchNet.

By Mail: 

If you wish to pay by paper check, please include your student ID number on the bottom of the check to insure the amount is posted to your account. Mail your payment to Belmont University,  P. O. Box 102336 Atlanta, GA 30368-2336.

We cannot accept or process credit and debit card information through the mail.

In Person: 

You can pay in person by cash or check at Belmont Central in Freeman Hall, during normal business hours. The cashiers cannot accept in-person credit or debit card payments. However, computers will be available in Belmont Central and Student Financial Services for those needing to make an online payment using a credit of debit card (American Express, Discover or MasterCard).

If I use my debit card to pay my student account charges, will I be charged the convenience fee?

Yes.  If you use your debit card to pay your student account charges, you will be charged the 2.75%* convenience fee.  For checking or savings account debits, please use the e-check option to avoid paying the convenience fee.

I do not have access to a computer. How should I pay my bill?

If you wish to pay by paper check, please include your student ID number on the bottom of the check to insure the amount is posted to your account. Mail your payment to Belmont University,  P. O. Box 102336 Atlanta, GA 30368-2336. We cannot accept or process credit and debit card information through the mail or over the telephone. We hope that you will try the online webCheck payment feature. It is quick, convenient, secure, and you will not have to pay postage or check fees.

Is the convenience fee refundable?

The 2.75% convenience fee is non-refundable. Any convenience fee disputes must be taken directly to your credit card company.

If I make a credit card payment in error will my convenience fee be refunded?

No. The convenience fee is not refundable, even if the payment to which it relates is cancelled, refunded, credited or charged back.

What if I'm getting a refund for tuition and fees, because of a credit balance on my student account and I paid my account with a credit card?

The university is required to refund any overpayments made by credit card back to the credit card account. The convenience fee will not be refunded. 

How can I pay my student account and avoid the convenience fee?

E-Check payments from checking and savings accounts will continue to be accepted online by Belmont University via the ACH (Automated Clearing House) Network without a convenience fee at 

https://my.belmont.edu/.

Simply enter the bank/financial institution routing and account number information at the time of your online payment. Belmont University will continue to accept check payments via mail and both cash and check payments in person at Belmont Central in Freeman Hall.

Will Belmont University accept credit card payments for non-student account charges?

Belmont University will continue to accept MasterCard, Discover, American Express, and VISA credit card payments without a convenience fee for non-student account payments, such as enrollment deposits, transcript requests, athletic tickets, alumni events, etc. The credit card processing fees that Belmont University pays for these types of payments will continue to be covered by the school.



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