Convenience Fee

 

1.  What will change?

As of February, 2009:

  • New Student Programs will no longer accept Visa-branded credit cards for Summer Welcome, Winter Welcome and August Welcome online registration payments.
  • If you choose to make payments online using MasterCard or Discover cards, the third-party vendor will add a convenience fee of 2.75% to the transaction. 
  • To avoid the convenience fee, students and parents are able to make payments directly from any checking or savings account by using our secure web payment option (Electronic Funds Transfer), simply by entering the bank/financial institution routing and account number information at the time of online payment.
  • Credit card payments will only be accepted via the Internet.  New Student Programs will continue to accept cash or check for onsite payment.  

2.  Why were these changes made?

  • While credit card payments offer a convenient way for students and parents to make payments for registration, the cost to the University for providing this convenience has grown to approximately $2,000,000 annually.  In our current budget situation, the University must examine all the charges we pay.  Therefore, the University has decided to require those who use this convenience to cover its cost.

 3.  How did the University arrive at the 2.75% amount?

  • This amount was set by our third-party vendor.

4.  Why eliminate Visa-branded cards?

  • Unlike MasterCard and Discover, Visa will not allow a service charge that varies with the amount of the transaction (a percentage-based fee).  The University was unable to negotiate an acceptable method of assessing an appropriate service charge for Visa payments.

5.  Are other colleges and universities making similar changes?

  • Many colleges and universities have already made similar changes to their credit card payment policies. The University of Missouri 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, those negotiations have been unsuccessful.

6.  How can I avoid paying the 2.75% fee?

  • Other payment options we offer include:
    • Cash
    • Check
    • E-check

 7.  Why can’t I use a credit card onsite?

  • Credit card rules say that convenience fees must be charged for all payment types for a given payment location.  If we allowed credit card payments at the cashier’s window, then we would also have to add the convenience fee to check and cash transactions.  Therefore, we had to move all credit card payment processing to a third-party credit card processor.  The University of Missouri will provide computer workstations near the Cashier’s office for use by our walk-up customers who choose to make an on-line bill payment with a MasterCard or Discover card.

 8.  Can I use my Visa elsewhere on campus? 

  • These changes only apply to payments on the student account and New Student Program Welcome events.  Other payments are not affected by this policy.

9.  Who can I talk to about these changes? 

  • Questions may be directed to New Student Programs Office:
    • Columbia:
      • Phone: (573) 884-9868 
      • E-mail: rielleyd@missouri.edu
      • Mailing address: 2500 MU Student Center,  Columbia, MO 65211