SchoolAdmin Payments is currently in the pilot phase of launching, beginning with pre-selected schools in the onboarding process. If your school is interested in using SchoolAdmin Payments, please contact our Support Team for more information.

Overview

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.

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.

For schools that are already approved to use SchoolAdmin Payments, click here for information on how to set up your account, onboard, and complete verification.


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:

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* Getting Started *

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.

You can learn more about the technical details of Stripe’s secure infrastructure here, and you can see Stripe’s PCI certification here.

What information and documents 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

*Please note: NSF Fees are not currently being charged during the pilot phase. When this feature is released, all schools using SchoolAdmin Payments will be notified.

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 payment with their 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.

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* Support *

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.

  • Email: support@schooladmin.com

  • 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)

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* Verification *

Why is identity verification required in 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:

  • Passport

  • Passport card

  • Driver license

  • State issued ID card

  • Resident permit ID / U.S. Green Card

  • Border crossing card

  • Child ID card

  • NYC card

  • U.S. visa card

  • Birth Certificate

Accepted forms of identification for company/legal entity verification:

  • IRS Letter 147C

  • IRS SS-4 confirmation letter

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* Account Ownership *

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.


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