New Payment Process and NWP Invoice

Dear Schooner Cove Resident(s),

There have been several fliers handed out to each and every apartment explaining our new payment process. Just in case those papers have been misplaced, I have posted the information below for your convenience:

Beginning with rent and NWP bills due on November 1, 2012, there will be some changes to your payment options. There will also be a convenience fee for certain types of payment transactions. These changes may or may not impact you, but we want to communicate well in advance to allow you time to prepare and ask any questions you may have.

Here are your options for paying rent and NWP bills beginning with the payments due on November 1, 2012:

1. Pay at the Community Office:

We will accept checks or money orders in person, in the drop box, or by mail at the community office. No convenience fees! Free transactions!

We will no longer be able to accept credit/debit card payments for rent in person or by phone at the community office. (Please see below for credit card payment options)

2. Pay Online at my.mckinley.com:

We will accept ACH (payments made from your checking account) online at my.mckinley.com. There is no convenience fee for ACH payments! Free transactions!

We will also accept credit/debit card payments online at my.mckinley.com, which will be subject to a $8.95 convenience fee per transaction.

3. Pay Using ACH (Checking Account) Automatic Withdrawal:

Register to have your rent and NWP bill automatically withdrawn from your checking account each month. No convenience fee! Free transactions!

Call your community office for further instructions or visit your “Pay Rent” tab at my.mckinley.com to see detailed instructions for registration. Your community office can provide you with your ePay resident ID number to make registration much faster! Having your ePay resident ID number will ensure that you do not need to provide personal banking information to verify your account.

4. Pay with Credit/Debit Card by Phone with ePay at 866-869-4014:

Credit/Debit card payments can be made at this phone number only. These transactions are subject to a $8.95 convenience fee per transaction.

You can check your balance and pay with your credit card by calling 866-869-4014. (You’ll need your ePay resident ID number so be sure to obtain that from your community office)

Credit card payments will no longer be accepted by phone at the community office.

Many of our residents have had questions about the convenience fees now being charged for certain transactions. We have included some information attached to this letter that may answer these questions.

To assist our residents with this transition, we are offering a one time $50 rent credit to all residents who complete a new registration to have their rent automatically withdrawn from their checking account by December 15, 2012. To receive this rent credit, you must use the ACH automatic withdrawal for the remainder of your lease term, which cannot be less than six months.

If you have any further questions about your rent payment options or about the convenience fees being charged on certain transactions, please feel free to contact me.

I can be reached by phone at (734) 485-8666 or by email at cjenkins@mckinley.com.

Thank you,

Calvette Jenkins, ARM

Schooner Cove Apartment Homes


Frequently Asked Questions about Convenience Fees

1. Why are you charged a “Convenience Fee” when you make a credit card payment?

Credit card payments, unlike most other types of payments, have a fee assessed by the credit card company. This fee is called “Interchange” and is a calculated as a percentage of your payment amount. The percentage varies by credit card company and type of card but all credit card companies charge “Interchange”. We charge you a “Convenience Fee” to recover the cost of the credit card “Interchange”. We do not make a profit on this “Convenience Fee” it is simply to cover our cost of providing you the “Convenience” of using your credit card to make a payment.

2. Things you should know about Convenience Fees and discounts under VISA’s rules

There are many questions and quite a bit of confusion about Convenience Fees charged for credit card transactions. This information is not intended to be a legal opinion, but rather a high level explanation of the rules. It is important to note that a convenience fee is not a surcharge or a surprise fee as it is disclosed prior to the submission of payment. If you find material regarding the convenience fees, please ensure that the material is updated to reflect the most recent amendments to VISA rules.

VISA recently amended its rules under a settlement with the United States Department of Justice and several other States. Among these changes were changes to allow Merchants to offer incentives or discounts to the transaction to promote a particular form payment form (i.e. check, credit card, etc.) or the payment method (i.e. mail in, phone, internet, etc.). VISA specifically allows Merchants to charge a convenience fee on some payment methods so long as the Merchant also provides a payment method without a fee. VISA also authorizes Merchants to discount the transaction for different payment forms and different payment methods.

In compliance with the VISA rules, the property offers all residents the option of paying without a convenience fee by check via mail, making a face-to-face payment by check at community office, or paying by check using the drop box at the community office. In addition, as an incentive to use our online ACH option, the convenience fee is heavily discounted – in many cases the discount is 100% of the fee.

Community_news submitted by Scarey for Schooner Cove.

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