Changes to Saint Mary's Credit Card Policy
Changes take effect January 1, 2012|
Saint Mary's University is changing its credit card policy effective January 1, 2012. |
Effective January 1, 2012, Saint Mary’s University will no longer be accepting credit card payments for tuition, residence, meal plans and some other fees charged to student accounts. It’s estimated that this will save the university more than $400,000 annually in merchant fees.
"This is a significant change that will help to soften the impact of provincial funding cutbacks,” says Saint Mary’s President Dr. J. Colin Dodds.
Students are encouraged to use online banking since this is a seamless and efficient way in which they can make payments on their student accounts. In addition, the university will continue to accept payments from students using the following payment services: wire transfers, cash, debit cards and cheques drawn on Canadian bank accounts.
Visa, MasterCard and American Express will still be accepted for:
• Required program tuition deposits - MBA, Master of Finance, Executive MBA and TESL
• Required residence deposits
• Application fees – undergraduate, graduate and residence
• Transcripts
• Bookstore
• Continuing Education – non-credit programs
• Other services that are not charged to student accounts such as parking permits, library, and print centre.
Saint Mary’s is not alone in implementing this policy. Dalhousie, St. Francis Xavier University, University of Prince Edward Island and University of New Brunswick are among the universities that no longer accept credit cards for tuition and residence payments.
If you have questions, please contact:
Saint Mary’s Service Centre
McNally Main 108
Phone: (902) 420-5582
Credit Card Policy Changes: Questions and Answers
1. Q. When will credit cards no longer be accepted for payment on my student account?
A. The policy comes into effect January 1, 2012.
2. Q. How can I pay my required deposits?
A. For your convenience, Banner Self Service will continue to allow credit card payments for required residence and program deposits.
3. Q. How can I pay my student account?
A. Students can use following payment services to make payments on their student accounts:
- *Online banking – preferred method and your best option to avoid line ups
- Wire transfers
- Debit card, cash and cheques drawn on Canadian banks
* Online banking from a Canadian bank account is the most efficient and seamless way to make payments on your student account. Saint Mary’s is registered with all major Canadian banks and most credit unions.
4. Q. I understand I can pay fall 2011 fees by credit card but can I pay the winter term (January 2012) in advance prior to January 1, 2012?
A. Please keep in mind that the Service Centre will be closed between Christmas and New Years, however Self Service will accept credit card payments until end of day December 31, 2011. The Service Centre closure date will be posted at later date.
5. Q. How does online banking work?
A. Saint Mary’s University is listed as a vendor at most Canadian Banks. After entering your internet banking login, select Saint Mary’s University from the list of payees and use your Banner ID number (starts with “A”) as your account number.
6. Q. If I make an online bank payment, when can I see it on my student account?
A. Bank payments can take up to three days to be received by the university. However, we consider the payment received the day you make the payment.
7. Q. Why don’t you just charge a flat transaction fee per purchase instead?
A. Contractually, we are unable to charge a flat fee.
8. Q. What about the points I’m missing out on by not being able to pay tuition and residence with my credit card?
A. No question, this is a loss. Unfortunately, it comes down to the university having to reduce expenses in a time of financial cutbacks.
9. Q. I live in Family and Grad Housing and have a lease; can I pay by credit card?
A. No, however pre-authorized debit (preferred method), cash, and cheques will be accepted.
10 Q. Can I pay summer rent by credit card?
A. No, however any required deposit can be paid by credit card.
11.Q. Is Saint Mary’s the only university with this policy?
A. No, many universities don’t accept credit cards for tuition, residence and student related charges, including Dalhousie, StFX and UNB.
12.Q. What if my student loan has not arrived by the tuition due date?
A. Students who have their loan documents signed at the Service Centre on or before the payment due date will not be charged interest. However, if the loan does not cover all the fees, students are required to pay the balance by the due date to avoid interest charges.
13. Q. Do the changes apply to international students?
A. Yes, however the University will soon establish a wire payment service for online international payments made direct from the student's home country.
Still have a question?
Contact:
Saint Mary’s Service Centre
McNally Main 108
Phone: (902) 420-5582
This page last modified Tuesday, 06-Dec-2011 12:52:08 AST