Existing credit card operations will be greatly reduced or eliminated, relieving the institution of related administration. The student has the option of permitting full or limited access to a parent by assigning a new PIN number for their use. Limited access would allow a parent to make a payment but not allow access to account balances or other restricted information. Information is tracked by the student s social security number or another identifier assigned by the school. Confirmation of transactions is also provided to the student through email.
Confirmation is provided on-line through WEB access.
All funds are held by Imperial Bank. Informed Decisions Corp. Balances are reconciled daily both by transaction totals and cumulatively. To date, tuition payment services have focused solely on credit card payment of tuition through a touch-tone payment system. Upon receipt of a batch file, the school must then post and reconcile these payments to their student system. Payments are based on open receivables or specific, menu-driven items and amounts, which reduces or eliminates reconciliation issues for the school.