CUES Member Community

Expand all | Collapse all

Credit/Debit card payment options

  • 1.  Credit/Debit card payment options

    Posted Jul 31, 2019 04:13 PM

    Hi all,

     

    We are exploring vendors out there that would provide us with merchant card services and allow us to let members make payments to their loans with us using their other institution issued cards (visa, MasterCard, debit or credit). We'd like members to be able to do this directly on our website (not through home banking) and/or by phone.

     

    We currently use Total Merchant Concepts for our Visa cash advances in our lobbies but the cost quoted to us was a bit shocking.  We are looking into other vendors to see if that cost is the 'norm'. OR if there are other payment options we could implement.

     

    We do not do ACH origination (yet) and we won't have the time to allocate on this project in the near future.  I'm looking for something a little easier to implement and meet our member needs of making payments (especially our indirect lending members).

     

    1. What vendor do you use for accepting credit/debit cards to make payments on loans?
    2. Do you also take payments by phone using this method?
    3. Do you charge a fee for this method to offset your cost?  If so, how much?
    4. How would you rate this vendor on customer service after the check is cashed?
    5. If you do not offer this payment option, what other easy methods of payment do you offer members that do not use you as their primary financial institution?

     

    Thank you in advance for your time and input 😊




    ------------------------------
    Tammy Doles-Roberts
    Chief Executive Officer
    Olympia CU
    Olympia WA
    360.754.5559
    ------------------------------


  • 2.  RE: Credit/Debit card payment options

    Posted Aug 01, 2019 11:16 AM
    Hi Tammy,

    We have just started using Magic Wrighter for payments. We have a link in home banking and also on our website. Members can set up a one time payment or recurring. They have the option of using a credit or debit card - for which there is a fee charged by Magic Wrighter. If they set up their bank information, it's a free transaction and goes through ACH. The site is set up to not allow credit union accounts as a payment source - there is a message to use home banking to transfer funds in that case.

    We send a daily file which gives Magic Wrighter member information which includes loan payments, due dates, and balances.

    We've been using this for just a couple of months and it is going very well. It has stopped calls for us to do a cash advance. Our staff can still take those calls and charge a fee for that.

    Lois Profili
    First Eagle FCU
    Owings Mills, MD
    443-548-8010

    ------------------------------
    Lois Profili CCUE
    President/CEO
    First Eagle FCU
    Owings Mills MD
    443.548.8008
    ------------------------------



  • 3.  RE: Credit/Debit card payment options

    Posted Aug 07, 2019 05:34 PM
    We use PROPAY which is integrated into our symitar host. We only do debit cards as visa doesn't let a CC advance pay a loan. We charge $5 for it.

    ------------------------------
    James Collins
    President/CEO
    O Bee Credit Union
    Tumwater WA
    360.570.7922
    ------------------------------



  • 4.  RE: Credit/Debit card payment options

    Posted Aug 08, 2019 03:28 PM
    Tammy
    We are looking at this service too and have not landed on a vendor. We have some concerns about having this available on our Website vs. embedded in Home Banking and what risks that may pose. On another topic are you happy with Total Merchant Concepts for cash advances? We have Blue Pay and they are a nightmare to work with! ​

    ------------------------------
    Karla Hanna
    Executive Vice President
    Sioux Falls FCU
    Sioux Falls SD
    605.977.8320
    ------------------------------



  • 5.  RE: Credit/Debit card payment options

    Posted Aug 08, 2019 03:38 PM
    Hi Karla - yes, we are happy with Total Merchant Concepts for our cash advances.  We've been with them for years.
    What would be the risk of allowing someone to pay money TO your institution using a link on your website versus in home banking?  Just curious what the thinking is for risk.  My thoughts so far are if someone pays with a fraudulent card, then the payment gets reversed like an NSF check, plus we charge a fee........but that's as far as I've gotten with it. :)

    ------------------------------
    Tammy Doles-Roberts
    Chief Executive Officer
    Olympia CU
    Olympia WA
    360.754.5559
    ------------------------------



  • 6.  RE: Credit/Debit card payment options

    Posted 21 days ago

    I would be interested as well so if someone posts would appreciate them posting to the group. Thank you.

    Karla Hanna, Executive VP - Innovation & Quality
    1741 S Cleveland Avenue | Sioux Falls SD 57103 | 605.977.8320
    Sioux Falls Federal Credit UnionFacebookYoutubeTwitterPinterestLinkedInInstagramGoogle PlayApple App Store

    aa

    NOTICE: This e-mail (including attachments) is intended solely for the use of the individual to whom it is addressed and may contain information that is privileged, confidential or otherwise exempt from disclosure. If the reader of this e-mail is not the intended recipient or the employee or agent responsible for delivering the message to the intended recipient, you are hereby notified that any dissemination, distribution, or copying of this communication is strictly prohibited. If you have received this communication in error, please immediately notify us by replying to the original message at the listed email address.

    Thank You.

     






  • 7.  RE: Credit/Debit card payment options

    Posted 20 days ago

    We use SWBC, but there are others and some might integrate with your core better.

     

     

     

    Michael Daugherty

    President

    Community Plus Federal Credit Union

     






  • 8.  RE: Credit/Debit card payment options

    Posted 18 days ago

    We use SWBC and so far it's been working great. We don't charge when the member does it himself online or the first time we show them. After the initial transaction we charge for staff assisted payments.

     

    Tanya Peterson

    Executive Vice President

     

     

    NOTICE: This electronic mail message and any files transmitted with it are intended exclusively for the individual or entity to which it is addressed. The message, together with any attachment, may contain confidential and/or privileged information.Any unauthorized review, use, printing, saving, copying, disclosure or distribution is strictly prohibited. If you have received this message in error, please immediately advise the sender by reply email and delete all copies.





  • 9.  RE: Credit/Debit card payment options

    Posted 2 days ago

    Good morning,
    We have paid a patronage dividend the last couple of years; a flat dollar amount.  We are discussing continuing this but want to set criteria/financial goals, etc upon which to base this dividend being paid and possibly calculating a total from some criteria.  I have a couple questions:
    1.  Would you be willing to share what criteria you use to establish if and amount of bonus or patronage dividend?
    2.  How do you determine the amount per member?  Services used, share/loan interest percentage, etc.
    Thank you!

    Karla Hanna, Executive VP - Innovation & Quality
    1741 S Cleveland Avenue | Sioux Falls SD 57103 | 605.977.8320
    Sioux Falls Federal Credit UnionFacebookYoutubeTwitterPinterestLinkedInInstagramGoogle PlayApple App Store

    aa

    NOTICE: This e-mail (including attachments) is intended solely for the use of the individual to whom it is addressed and may contain information that is privileged, confidential or otherwise exempt from disclosure. If the reader of this e-mail is not the intended recipient or the employee or agent responsible for delivering the message to the intended recipient, you are hereby notified that any dissemination, distribution, or copying of this communication is strictly prohibited. If you have received this communication in error, please immediately notify us by replying to the original message at the listed email address.

    Thank You.

     






  • 10.  RE: Credit/Debit card payment options

    Posted 19 hours ago

    Karla, we pay a loyalty bonus each year as well. The criteria really depends on what our goals are for the year. But in the past, it has been open, active checking accounts, super power users of debit cards / credit cards, loans, real estate loans, etc. We usually paid a flat amount for each product the member has with us. Essentially we are looking for products and services that deepen the relationship with the member. We will be paying out a bonus this year as well but haven't locked down the criteria just yet.

     

    -Michael

    Michael Barry
    Senior Vice President / MIS
    Gulf Coast Educators Federal Credit Union
    5953 Fairmont Pkwy
    Pasadena, TX 77505
    t: 281-925-4141
    e: mbarry@gcefcu.org
       
    This communication, including attachments, may contain information that is proprietary, confidential and/or privileged. The information transmitted is intended only for the person or entity to which it is addressed. If you are not the intended recipient or you believe that you have received this communication in error, please notify the sender immediately by return e-mail and promptly delete this e-mail, including attachments, without reading or saving them in any manner. The unauthorized use, dissemination, distribution, or reproduction of this e-mail, including attachments, or the taking of any action in reliance on the contents of the contained information, is strictly prohibited and may be unlawful.






  • 11.  RE: Credit/Debit card payment options

    Posted 13 hours ago
    ​Michael
    Thank you for your response. Does the CU distribute this as a dividend or do they expense it?

    ------------------------------
    Karla Hanna
    Executive Vice President
    Sioux Falls FCU
    Sioux Falls SD
    605.977.8320
    ------------------------------



  • 12.  RE: Credit/Debit card payment options

    Posted 13 hours ago

    We treat it as an expense. We accrue for it each month depending on income.

    Michael Barry
    Senior Vice President / MIS
    Gulf Coast Educators Federal Credit Union
    5953 Fairmont Pkwy
    Pasadena, TX 77505
    t: 281-925-4141
    e: mbarry@gcefcu.org
       
    This communication, including attachments, may contain information that is proprietary, confidential and/or privileged. The information transmitted is intended only for the person or entity to which it is addressed. If you are not the intended recipient or you believe that you have received this communication in error, please notify the sender immediately by return e-mail and promptly delete this e-mail, including attachments, without reading or saving them in any manner. The unauthorized use, dissemination, distribution, or reproduction of this e-mail, including attachments, or the taking of any action in reliance on the contents of the contained information, is strictly prohibited and may be unlawful.