Q: What is the Marist Money Program?
Marist Money is an online, prepaid flexible spending account accessed by the Marist College ID card. Funds deposited into Marist Money accounts can be used to purchase goods or services at participating off-campus locations as well as Marist College services on campus.
Marist College faculty, staff and students can establish a Marist Money account. Cardholders simply activate an account by making an initial deposit. Each time the card is used, the system will check to make sure the balance in the account is sufficient to cover the purchase price. The amount of the sale will be deducted from the account, and the new balance will be displayed at the reader or printed on the receipt.
Q: What are the benefits of Marist Money to cardholders?
- Active accounts remain open and carry forward from semester to semester and from year to year.
- It's safer and more convenient than carrying cash - even if the ID card is lost or stolen, the funds will be protected if the card is reported, and the funds are immediately available when a replacement ID card is issued.
- Offers the convenience of a one-card solution - the ID card is also used to access residence halls, library privileges and campus dining services
Q: What are the benefits of Marist Money to merchants?
- Marketing Opportunities - Marist Money provides a new outlet for your company's marketing efforts.
- Competitive Edge - Marist Money funds may only be spent at participating locations.
- Security - the Marist Money ID card is used to process sales, which adds a measure of security over non-photo credit/debit card sales.
- Less Cash Handling - merchants will recognize a decrease in the amount of cash that they handle.
Q: How is Marist Money marketed to faculty, staff, and students?
- One-on-one interactions with first-year students and parents during summer First-Year Orientation sessions
- Parent e-mail newsletter, "Parent Pipeline"
- Campus TV
- Marist College website and the Marist Portal
- Various printed brochures, posters, and other materials
- Marist Money Accepted Here decals are provided to all participating businesses. Displaying the decals in a variety of locations throughout your business will further advertise your participation in the Marist Money Program.
Q: Where is Marist Money accepted?
Cardholders can use Marist Money funds at many on and off-campus locations, including:
- A wide range of participating off-campus merchants, including restaurants, grocery stores and other retail stores
- On-campus at services such as dining locations, post office, bookstore, health services, library, digital publications center, computer store, and the library copier machine
Q: Can Marist Money be accepted for telephone orders and off-site deliveries?
Marist Money accounts can be debited for telephone orders by entering the card number manually into the terminal. There are inherent risks associated with this type of transaction, and, in case of a dispute, the burden of proof lies with the merchant. To minimize the risk of fraud, we recommend that a copy of the receipt go out with the delivery. The delivery person should visually inspect the Marist ID card and obtain the cardholder's signature for authorization.
Q: Can tips be charged to Marist Money accounts?
Yes. Tips to servers can easily be charged to a cardholder's Marist Money account.
Q: Are there any restrictions on the types of goods and services that can be purchased with Marist Money?
Yes. Marist Money cannot be used for the purchase of alcohol, illicit drug paraphernalia, lottery tickets or for card-to-cash exchange (i.e. merchants may not accept Marist Money in exchange for cash). Businesses whose primary purpose is the sale of alcohol, lottery tickets or illicit drug paraphernalia will not be approved to participate in the program.
Q: How much does it cost to participate in the Program?
In exchange for services (operation of card program, account management, advertising, marketing, etc.) each merchant pays a flat percentage service charge on all gross Marist Money sales (purchase minus refunds). In addition, the Merchant is responsible for renting a terminal for a fee of $15 bi-weekly, provided the merchant reaches a $150 sales threshold within the two week period (fee may be waived during the summer), and a $ .10 per card swipe fee. The Merchant must provide a separate telephone line or high speed connection for the Verifone VX570 terminal.
Q: How will I be paid for Marist Money sales?
Off Campus Solutions will reimburse you for gross sales processed via Marist Money (less the above fees) by electronic deposit every two weeks. Your daily transactions and settlement statement can be viewed via a merchant web portal. Error resolution will be handled by the Marist Money service provider Off Campus Solutions.
Q: How do I inquire about participating in the Marist Money program?
Please go to the Off Campus Solutions Web site and select the contact tab to reach a representative for more information.