Change in AECT Credit Card Policy - Convenience Fee

Effective March 1, 2013 AECT joined the large number of small businesses who add a convenience fee for all credit card transactions.  This became necessary, as the banks that issue credit cards continue to increase their fees.  During 2012, AECT paid the banks close to $16,000 in credit card fees.

In July 2011, The AECT Board of Directors voted to add a convenience fee once new regulations permitted us to do so.  After years of litigation, those regulations have now changed, thus the policy can now be implemented. AECT’s bank charges currently exceed 4%, but only by a small bit.

The Board made the decision to add the charge in lieu of increasing fees for convention registration and AECT membership.  Fortunately, there are several ways to avoid incurring this additional charge.

1. Pay by check.
2. Use a purchase order from your organization.
3. Pay with online banking. If you are already using online banking with your financial institution, this may be one of your quickest and simplest options.
4. Process an electronic transfer through your bank’s system.  

We regret that we must take this step during these tough economic times; however the Board of Directors believes this is the best way to handle the increasing cost of doing business via credit card.

If you have questions about this new policy feel free to contact us.

Cordially,
 
Marcus Childress, President
Phillip Harris, Executive Director
Association for Educational Communications and Technology (AECT)