Credit/Debit Card Service Fees FAQs
Beginning July 1, 2024 card transactions toward student accounts will see a service fee of 2.65% added to the balance of the amount charged to the credit or debit card. With the proliferation of cards used as primary means of payment, the credit/debit card service fees that have previously been covered by vendors are being passed through to the customer in businesses large and small. In many places it has become a fee associated with the convenience and benefits of using “plastic.” Below are some questions that may help to explain the details.
Why is Lee University charging a service fee for credit/debit card payments?
Lee University is committed to providing students and their families a range of options for paying their educational expenses. The credit/debit card payment method has become prohibitively expensive because of the fees charged by ACI Worldwide to Lee for credit/debit card transaction processing. It is not feasible for the university to cover these fees directly via tuition and fee increases. On and after July 1, 2024, a service fee on credit/debit card transactions in the amount of 2.65% of the credit/debit card payment will be charged. Lee University does not receive any proceeds from the service fee.
How was the 2.65% fee rate determined?
2.65% is the amount established by our third-party credit/debit card processor, ACI Worldwide, to cover all credit/debit card processing costs. Until recent negotiations, the fee was set at 2.75%, but ACI agreed to reduce the service fee to the current published rate of 2.65%.
What is a service fee?
A 2.65 percent service fee is established by our third-party credit/debit card processor, ACI Worldwide, to cover all credit/debit card processing costs. The university does not receive any portion of service fee payments. It is also important to note that these fees are subject to change by the third-party credit/debit card processor.
Can I avoid paying the service fee?
Yes. You can avoid service fees by making payments to the university online via Portico by electronic check, an electronic debit to your checking or savings account, or by paper check or a money order sent via U.S. mail. You may also pay in-person by cash, paper check or money order.
Will the service fee I paid show on my student account?
No, this fee does not come to the university and will not be reflected on our system. Please refer to your credit card statement or print a copy of your receipt for your records.
If I make a credit card payment in error or if my tuition and fees are refunded, will my service fee be reimbursed?
No. This fee is not refundable, even if the payment to which it is related is cancelled, refunded, or charged back. These funds go directly to ACI Worldwide and cannot be adjusted or waived.
Will this fee be assessed for all card payments to Lee?
No. This fee will only apply to student account payments toward a student’s school bill. The fee will not apply to application fees payments or housing deposits, prior to enrollment, nor will the fee apply to donations made to the university by debit or credit card.
Do other colleges and universities pass along convenience fees to their students?
Yes. Many (if not most) colleges and universities have asked students to absorb this cost.
Student Financial Services
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