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Assessed credit card convenience fees will drop from 2.25% to 1.57% for Visa and 1.70% for MasterCard in 2012. Illinois law prohibits the county from receiving revenue from convenience Jimmy Choo Black Pumps Sale fees.
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The Treasurer's Office also will accept Debit Card payments from 12 regional and national debit networks, including Armed Forces Financial Network, STAR, and NYCE. The Treasurer's Office will continue offering Discover Card payments in its office but not online.
Will County Treasurer Reduces Credit Card Fees 43
As County Treasurer, Steve Weber (R Mokena) is dedicated to providing reliable banking services for county agencies, secure investment of your tax dollars, and trustworthy accounting services that provide transparency for county residents. The office has a professional staff of 21 employees.
1. American Express
"We have significantly reduced Zanotti Shoes Price
payment solutions including point of sale payments, gift card and loyalty programs, eCommerce solutions, terminals and point of sale solutions to merchants of all sizes. The office also provides guidance for the management of long term debt and investments with the assistance of the Will County Board's Finance Committee and the County's Director of Finance.
the fees people pay when making an online property tax payment in Will County," said Weber, "The convenience fee for paying with a Visa Card will drop 43%, for example, a savings of nearly $34 in fees for both installments of an average tax bill."
In addition to reduced convenience fees, the Treasurer's Office will accept eight (8) additional credit card brands in 2012. The convenience fee structure for each card varies and will be slightly higher than the MasterCard rate of 1.70% but below 2.25% for all cards.
4. Weight Express
"This agreement is a huge win for Will County taxpayers," Weber said.
"After we asked for proposals, that same provider told us they planned to raise our fees next year had we not gone out for bid," Weber added, "Their bid was 12% higher, clearly a bad deal for taxpayers."
The contracts for credit cards and online payment date to 2004. By reviewing the agreements, Weber continues in his objective to reduce operating costs as well as fees paid by taxpayers. During the review, Weber's staff discovered that one of the current processors planned to raise fees next year.
"I was shocked when one of our partners said she had been 'waiting for the call because the contracts expired,'" Weber said, "The previous administration never bothered to review the agreements he inherited from his predecessor. He just kept the status quo."
About Bank of America Merchant Services
Tim Abram, Senior Vice President of Client Services, said, "Bank of America Merchant Services is pleased to be able to help Will County taxpayers save money. As the number one rated electronic payments company in the industry , we are able to process electronic payments extremely efficiently and securely frequently resulting in savings for new clients."
Will County Treasurer Steve Weber announced today that his office has selected Bank of America Merchant Services (NYSE: BAC) to process the office's $92.6 million credit card portfolio beginning in 2012. Under the five year agreement, which is pending County Board approval, taxpayers will save up to 43% in credit card convenience fees. The savings is approximately $125,000 lower than total fees paid by tax payers in 2011.
The Will County Board will consider the agreement during their December 15, 2011 board meeting.
3. Diners Club
8. Fleet One
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Bank of America Merchant Services is a premiere payments company providing the technology, innovative products, and industry track record of First Data with the relationship strength, geographical coverage, and prominent global brand of Bank of America to serve existing and future clients. This has made Bank of America Merchant Services the number one rated electronic payments processor in the industry.
"Next year it will be cheaper to pay your property taxes online from your checking account than mailing that payment to our office," added Weber, "The fee for these types of payments drops to just 15 cents per transaction, which is about a third of the cost of a postage stamp."
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