Surety Solutions
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Rick Marsland By Rick Marsland • January 21, 2016

Surety Solutions Credit Card Payment Facts

credit card payment

 

 

Surety Solutions strives for exceptional customer service. Our desire is to facilitate business with our customers in whatever medium they prefer (online, email, phone, in person, etc.) We also try to make doing business with our office as easy as possible, including payment methods. As such, we accept a number of methods of payment such as check, cash, money orders, ACH payments, and credit cards. Our payment flexibility is just one more attempt to allow superior service so we can “rush” items that are time sensitive and allow for enhanced customer service.

Due to the cost associated with credit card payments and how compensation for our industry works, we’ve made a strategic decision to limit the amount allowed for such payments.  At this time, we limit the total amount for credit payments because of the payment costs to the vendor.

 

While the 3% merchant fee charged by the credit card companies might seem small, it can amount to more than 10% of the gross commission paid to our agency. Therefore, we are able to allow for smaller payments ($1,500 and under),  to be made to facilitate the “rush” items such as new bonds and overnight shipping; however, when a larger number of items are needed or larger policies( over $1,500)  are up for renewal, we are unable to accept credit cards on those transactions because of how the fee structure affects our organization. In those situations, we allow for online ACH payments, checks, cashier checks, etc. and will ensure that payment methods won’t hinder the delivery of mission critical items. 

 

We greatly appreciate our customers and business partners. We will continue to strive to provide industry leading service while maximizing the number of ways that we can engage with our clientele. We appreciate your support and understanding as it pertains to payment methods accepted by Surety Solutions.

 

 

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