Transaction Fee Guidelines

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Guiding Principles for Payment Collection Methods and Financial Transaction Costs

 

Approved by the Wake County e-Government Steering Committee on May 13, 2002.

 

Purpose:

This philosophy provides guiding principles for Wake County Government on payment collection methods and financial transaction fees. This philosophy should be referenced when developing new services or offering additional payment collection methods for existing services.

 

Goal:

Wake County aims to offer physical and electronic payment options that keep transaction costs as low as possible.

 

Guiding Principles for Payment Collection Methods

 

□Wake County will absorb transaction fees whenever possible.

 

□Automated Clearing House (ACH) payments will be the primary payment option for online services. ACH provides the citizen and the County low transaction fees.

 

□The department or business process owner will develop a business case during the planning phase that outlines the following:
oThe projected volume of transactions for the service;
oProposed payment collection methods and their associated collection costs;
oThe impact of those payment collection methods on customer;
oJustification for selecting the use of debit and/or credit cards to collect payment.

 

□The Finance Department will serve as a resource to assist in the examination of payment options for those departments developing services where payment collection is necessary.

 

Designated Payment Collection Methods

 

Table 1.1 provides an overview of the various avenues for the collection of payments by Wake County and the designated method of collection. It should be noted that payment collections methods continue to evolve. This list will be updated by the Finance Department to meet the evolving needs of Wake County Government.

 

Table 1.1 Designated Payment Collection Methods

 

Collection Point

Designated Collection Method

Over the Counter

Cash

Check

Debit Cards (Available in the Near Future)

Credit Cards (available for certain revenue collection processes)

Mail

Check

IVR (Interactive Voice Response)

Credit Card

Internet

Automated Clearing House (ACH)

Credit Card if business case supports