HomeMy WebLinkAbout16-17 Acceptance of Payments POLICY
Section Policy No. Page
r1sneehill Financial 16-17 1 of 2
COUNTY Policy Title Date: Motion No.
Acceptable Methods of Payment May 9, 2023 187/23
Purpose:
To provide direction on the forms of payment accepted by the organization (both online and in person) and set
limits by payment type. The County recognizes the need to expand services by making payment availability
easier and expedite cash received,while at the same time be aware of the costs and controls required.
Definitions:
Third Party Cheque:
Any cheque made payable to someone other than Kneehill County, and that has been endorsed by the payee
and then made payable to Kneehill County.
Irrevocable Letter of Credit:
A product banks offer to their corporate customers to provide business financing. It is used to secure payment
between a buyer and a seller.
Policy Guidelines:
1) Credit Card Acceptance(online and in person)Visa and Mastercard only
Credit cards shall not be processed for more than the amount of the transaction (ie. no cash back)
Credit cards will not be accepted as payment for the following revenue sources:
• Property taxes
• Refundable/Security/Bond deposits
• Any fees or charges collected by Kneehill County on behalf of third party
• Transactions/Invoices/Agreements over$10,000, inclusive of tax
• No partial payments will be accepted for transactions/invoices/agreements over$10,000,
inclusive of tax.
2) Debit Card Acceptance—Point of Sale Terminal/Online Banking
There are no limitations with this payment form.
3) Cheques, Money Orders and Bank Drafts(Canadian or U.S. only)
For services provided by Kneehill County,all cheques, money orders or bank drafts may only be
accepted when made payable to Kneehill County. If Kneehill County is accepting payment for a third
party the cheque, money order, or bank draft may only be accepted by direction of the
individual/company for which they would like to make payment on behalf of. Kneehill County does
not accept third party cheques. NSF or returned payment fees will be assigned an administration fee
as per Master Rates Bylaw.
POLICY
Section Policy No. Page
Financial 16-17 2 of 2
Policy Title Date: Motion No.
Acceptable Methods of Payment May 9, 2023 187/23
4) Cash
Only Canadian or U.S. currency will be accepted.
5) Direct Deposit/EFT
There are no limitations with the acceptance of direct deposit/EFT transfers. However, if the County
were to incur service fees as a result of accepting these payment forms,the cost will be billed back to
the account holder.
6) Irrevocable Letter of Credit
Irrevocable Letters of Credit may be accepted for road and development security/bonds and for no
other services.
7) New Services/Revenue Sources
The Director of Corporate Services or designate has the authority to determine whether credit or debit
card payments will be accepted for any new services/revenue sources.
8) Bank Deposits
At a minimum, Kneehill County will deposit cash and other payment forms once a week.
9) Preauthorized Payment Plan
This applies to both tax and utility accounts. No payment amount restrictions apply. Any amounts
returned from the bank will be assigned a per account administration fee, as per the Master Rates
Bylaw.
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Jerry Wittstock, Mike Haugen,
Reeve CAO
Approved: May 9, 2023
Review Date: May 2027