Giving a "Pay in Full" Discount

One great way to incentivize parents to pay their fees early and in full is to offer a discount if they pay in full before the beginning of the season. Parents are given two options for payment timing when they sign up for one of your teams: 

  1. AutoPay - Enroll in automatic payments and be charged automatically on the dates payments are due.
     
  2. Pay All Now - Make one payment right now to cover all outstanding fees.

With an upfront discount, you can offer a financial incentive to encourage parents to pay upfront in full. 

The discount is set on a group-by-group basis and it can vary from group to group. For each group offering a discount, you can specify the dollar amount of the discount, a cut-off date for when the discount offer expires, and a minimum purchase amount required before the discount is offered.

 

Setting up (or editing) an upfront discount for a group

To add the discount for a group simply:

1. Go to the group's page and click on the Settings tab.

2. Click the checkbox next to Enable discount for upfront payment in full.

Discount Amount - This is the dollar amount of the discount you want to offer for upfront payment in full. This should be an amount you are comfortable not collecting as a tradeoff to be paid in full upfront. For example, if you want to collect $500 from each participant spread evenly over a 4-month season, then you might be OK with a $20.00 discount for upfront payment in full. If so, enter “20” in this field.

Cut-off Date - This is the last day the discount will be offered for the group. We recommend you set this date to be on, or close to, the due date of your first payment in order to encourage payment in full before the season starts. Note: Parents who qualify for the discount will see the cut-off date during sign-up. We do not show the cut-off date once it has passed and the discount is no longer offered.

Minimum Purchase -
 This is the minimum amount that the parent must owe for the discount to be offered. This can help prevent you from giving discounts to participants who are already paying a lower amount because of scholarships or other discounts. For example, you might edit the payment items for one participant to include a 50% scholarship. When that participant signs up, will you still be able to afford to offer the upfront discount on this reduced payment total? If not, then set the “Minimum Purchase” to the lowest amount where you will still be comfortable offering the discount (typically this is just below the expected total due for a player paying the full cost).
 

 

3. Click Save and allow the page to refresh. You will see a “Changes saved” banner at the top of the page, plus the terms of your discount will now be shown in the Group Overview section.

 

Editing a Discount for a Group

All of the settings noted above can be edited at any time. Simply navigate to the group's Settings tab make your desired edits, and click “Save”.

 

To completely remove the discount offer from a group, navigate to the Settings tab for that group, uncheck the Enable discount for upfront payment in full checkbox, and click Save.

When a guardian signs up and receives the upfront discount, the discounted amount is spread proportionally across all payment items covered by the payment. For example, if you apply a $60 discount to a payment schedule that includes three differing payment items totaling $600, you will receive $540 in payments and the $60 discount will be spread across all three payment items.

 

Group Detail Notes

On the participant details page, a note is appended to the payment description of all payment items covered by the discount. The note includes the tag “DISCOUNT” and lists the discount amount and date paid. (Guardians will see similar notes in their portal).

 

 

 

 

Still have questions or need help? Please reach out to us directly at spend.support@onsnap.com or by phone at 276-531-9260.

 

Snap! Spend is a financial technology company and is not a bank. Banking services provided by Thread Bank; Member FDIC. The Snap! Spend Visa Debit is issued by Thread Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa cards are accepted. 

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You can access the terms and conditions of the sweep program at https://go.thread.bank/sweepdisclosure and a list of program banks at https://go.thread.bank/programbanks.  Please contact customerservice@thread.bank with questions on the sweep program.