126 W Sego Lily Drive Suite #190
Sandy, UT 84070
Dear RefPay user,
Thank you for using the RefPay Payment Network for processing payments. RefPay has grown significantly over the last year and we appreciate your patronage and feedback.
Beginning in 2010 we will be instituting two significant policy changes to better serve our clients and to address what have been the most common requests from both paying administrators and officials. These requests include:
1) Shorten the wait-period for funds to become available to paying administrators
2) Eliminate transaction fees beyond the one complimentary monthly transfer for officials
We feel that by addressing these issues our clients will have an easier time transitioning to RefPay and it will be even more enthusiastically received by officials.
So, beginning January 1, 2010, the wait-period for funds to become available will be shortened from five business days to three and officials will no longer be charged for Electronic Funds Transfers to their bank accounts, regardless of the frequency.
Each official will be notified through their RefPay account of these changes. For a nominal fee, Officials will also have the option to upgrade their RefPay account so that payments are automatically deposited into their bank accounts or sent by check without having to login and manually request a funds transfer.
In order to financially accommodate these changes, RefPay is instituting a transaction fee for RefPay payments. Transaction fees will be based on the amount of the payment. Nearly all payments will fall in the $.54 to $.90 range – similar to the combined cost of a stamp, check and envelope. A complete fee chart can be found on the new updated RefPay website http://www.refpay.com/transactioncosts.html . Transaction fees will be automatically deducted as part of each payment, requiring no change to how you currently use the system.
RefPay will also be eliminating the Minor Account designations immediately due to the difficulty in verifying dates of birth.
Because many of you are currently in the midst of a season, payments to officials will continue to be free through March 31st, 2010. If for any reason you feel these new policy changes may not work for your organization, you can withdraw your funds at any time and use other methods for paying officials. However, we are certain that with these new changes, even with the minimal transaction fees, RefPay continues to be the most cost effective and painless method for paying officials.
Thank you again for using RefPay and we look forward to a great 2010.
Best Regards,
Daren Jackson
VP of RefPay Sales & Operations