SchoolAdmin Payments - powered by Stripe - is natively built into the existing SchoolAdmin platform experience so that you and your applying or enrolling families can take care of everything within one centralized site. Setup is easy, and having no added transaction fees makes your reconciliation that much easier.
SchoolAdmin Payments meets and exceeds the most stringent industry standards for security. Stripe is also audited by a PCI-certified auditor, and is certified to PCI Service Provider Level 1. This is the highest level of certification available. You can learn more about the technical details of Stripe’s secure infrastructure here, and you can see Stripe’s PCI certification here.
In short, SchoolAdmin Payments is a simple and powerful way to accept payments inside the SchoolAdmin application. We built SchoolAdmin Payments using Stripe’s world-class infrastructure. Millions of businesses - ranging from startups to Fortune 500 companies - also rely on Stripe’s software tools to accept payments securely and expand globally.
Click here to learn more about setting up your SchoolAdmin Payments account, including onboarding, identity verification, and adding your banking information.
Benefits of SchoolAdmin Payments
All payment and payout information is accessible directly within SchoolAdmin
Easily initiate refunds directly within SchoolAdmin
No transaction fees for ACH transactions
1:1 convenience fee assessment
Improved and automated ACH verification process for families that no longer includes micro-deposits. They can either enter their bank account details manually, or they can choose their bank from a set list through an SSO process.
Allows families to save and manage multiple payment profiles in their SchoolAdmin account
Frequently Asked Questions (FAQs)
In the section below, you will find answers to frequently asked questions about SchoolAdmin Payments. Use the links below to quickly jump to a specific subsection:
Is SchoolAdmin Payments secure? Will I be PCI-compliant?
Yes! SchoolAdmin Payments meets and exceeds the most stringent industry standards for security. Stripe is also audited by a PCI-certified auditor and is certified to PCI Service Provider Level 1. This is the highest level of certification available.
What information do I need to sign up for SchoolAdmin Payments?
To sign up for an account, you will need an email address and password. To activate your account and be ready to receive payments and payout, we will need details about your business and about you. Common follow-up requirements include photo identification documents and address verification. You can find a full list of requirements here (in the 'How-To' section).
What if I already have a Stripe account?
Even if you already have a Stripe account, you will set up a new one for SchoolAdmin Payments. This will be separate from any existing account you have with Stripe.
What are the rates for SchoolAdmin Payments?
The rates are as follows:
Domestic Credit Card: 2.9%
International Credit Card: 3.9%
This refers to any card that is issued in a country other than where your school is located.
ACH (per transaction): No cost.
Non-Sufficient Funds (NSF) Fee: $25
Chargeback / Dispute Fee: $15
These rates also apply for schools located in Canada.
What is a dispute or an inquiry and how do I handle them?
A dispute (also known as a chargeback, inquiry, or retrieval) occurs when a cardholder questions your charge with their bank or card issuer. An inquiry or retrieval is solely a request for more information about the charge, which may escalate to a chargeback.
To process a chargeback, the issuer creates a formal dispute which immediately reverses the payment. The payment amount, along with a separate $15.00 dispute fee (for users in the United States), is then deducted from your account balance. Explore Stripe’s documentation on disputes and fraud for more information, or read about overall best practices for avoiding fraud.
What do I do if I have issues with SchoolAdmin Payments?
If your school is still completing your onboarding project with SchoolAdmin, please contact your Onboarding Specialist directly with any issues. Launched clients, please contact the SchoolAdmin Support Team, available Monday-Friday from 7AM to 6PM Central Time.
Live Chat: Click ‘Contact Support’ in your SchoolAdmin site.
Phone: (512) 520-8660
When should I contact SchoolAdmin vs. Stripe directly?
The SchoolAdmin team can help you with supporting most aspects of SchoolAdmin Payments, including the following:
Setting up your payment gateway for SchoolAdmin Payments
Guiding you through the process of creating your account, onboarding, and adding your bank information in the SchoolAdmin Payments setup page
For issues regarding the following, please contact Stripe directly:
Issues completing the Stripe identity verification process (see the Verification section below for more information)
Why is identity verification required for the SchoolAdmin Payments setup process?
Every country has its own requirements that accounts must meet for Stripe to be able to pay out funds to individuals and companies. These are typically known as Know Your Customer (KYC) requirements. Regardless of the country, broadly speaking, the requirements Stripe must meet are:
Collecting information about the individual or company receiving funds
Verifying information to establish that we know who our customers are
SchoolAdmin collects this information from your school during the onboarding step of the SchoolAdmin Payments setup process. This information is then provided to Stripe for verification purposes.
Is the identity verification process immediate?
In most applications, the account approval process is nearly instantaneous and you will be able to accept payments right away. If Stripe needs more information about your business or expects a longer delay in approving your account, they will reach out to you immediately.
Why might the identity verification step fail? Will I get notified if it does?
Verification will fail if the information provided on the form cannot be verified. For example, if the name provided does not match the full legal name on the account, or the business information provided could not be verified with the IRS. Return to Step 2 (‘Click here to onboard’) within the SchoolAdmin Payments setup page to see specifically what additional information is required. See the section below for next steps. Whoever completed the verification step will receive an email if verification fails, and you can also monitor the ‘Status’ listed on the SchoolAdmin Payments setup page on your site.
What are my next steps if verification fails?
If your verification fails, your next step will be to return to the SchoolAdmin Payments setup page and retry Step 2 (‘Click here to onboard’) in the process. You can update the information if there are any mistakes in it. If Stripe is unable to verify your business and/or identity programmatically, you may be required to upload additional documentation.
Accepted forms of identification for identity verification:
State issued ID card
Resident permit ID / U.S. Green Card
Border crossing card
Child ID card
U.S. visa card
Accepted forms of identification for company/legal entity verification:
IRS Letter 147C
IRS SS-4 confirmation letter
How do I change the owner of my SchoolAdmin Payments account?
There are a number of reasons why you may want to transfer ownership of your SchoolAdmin Payments account to someone else:
Transfer account ownership to an existing Administrator
Transfer account ownership to a current user on the account who does not have Administrator permissions
Transfer ownership to an individual who does not yet have any access to the SchoolAdmin Payments account
Return to the SchoolAdmin Payments setup page and use the ‘Click here to edit information’ button underneath Step 2. From here, you can remove the existing business representative or update their information.
How do I update my business details?
Similar to the process above of updating your bank account number, you can update the business details for your school from within the SchoolAdmin Payments setup page.
How do I update my bank account number?
To update the associated bank account for your school, please navigate to ‘Settings’ -> ‘Financial’ -> ‘SchoolAdmin Payments’ within your SchoolAdmin site. On this page, click into Step 3 (‘Manage Bank Account’) and update the information in the window provided. You should receive a confirmation message that your information was updated. Please note that only System Admins will be able to access this page.
How are funds transferred to my school?
Once your account is fully set up and you start receiving payments, payouts of your available account balance will be initiated daily. If you would like to change your payout schedule to weekly (on any weekday M-F) or monthly (on a specific day) instead, please contact SchoolAdmin Support.
Payments within those payouts are based on when they are processed.
1-3 days for Credit Cards
4-7 business days for ACH payment
Most banks deposit payouts into your bank account as soon as they are received, though some may take a few extra days to make them available.
Please note: You must provide all required identity and business verification information before you can receive payouts. If you are not receiving payouts, your account may be missing information.
What will families see on their bank account or credit card statements after they make a payment through SchoolAdmin?
Your school's Statement Descriptor is what's used on bank account or credit card statements when a payment is made through SchoolAdmin Payments. The Statement Descriptor is set by default to the Business Website provided during the SchoolAdmin Payments onboarding/verification process. Example: SCHOOLADMIN.COM
How can I issue a refund?
Refund management is now built into your Payment History report in SchoolAdmin. Please see this page for details on issuing refunds with SchoolAdmin Payments.