Who is the payment processor that MemberHub uses?
MemberHub uses Heartland School Solutions (MySchoolBucks) to process all transactions. HSS is owned by Global Payments which is one of the world’s largest merchant services companies.
Do we have to use Heartland or can we use online payment platforms?
MemberHub is only integrated with Heartland. All payments through MemberHub will be routed to your PTA checking account automatically and you will have a robust reporting feature inside your PTA portal for all transactions you originate.
Why is my social security number required and is it secure?
Your information is completely safe and secure.
The U.S. Department of the Treasury issued final rules under the Bank Secrecy Act to clarify and strengthen Customer Due Diligence requirements. As per these requirements, financial institutions are required to identify and verify the identity of beneficial owners or legal entity customers as part of their AML Compliance Program.
Per the Final Rule, “Criminals have exploited the anonymity that legal entities can provide to engage in money laundering, corruption, fraud, terrorist financing, and sanctions evasion, among other financial crimes.” Strong Know Your Customer (KYC) practices that include identifying and verifying the identity of the natural persons who own or control a legal entity help defend against these abuses.
What is KYC Law and why is Heartland requiring it?
The official ruling can be found at: https://www.federalregister.gov/documents/2016/05/11/2016-10567/customer-due-diligence- requirements-for-financial-institutions
As part of the FinCEN Final Rule, Heartland Payment Systems will be required to collect personal data (outlined below) on all Beneficial Owner(s) ("Ownership Prong"), Individual(s) with Control ("Control Prong") and Individual(s) Opening the Account to ensure that proper due diligence for KYC compliance is conducted.
Heartland has excellent features for schools including school lunch payments and schools stores including a MSB Anywhere point of sale system that you can use as a cash register in your school for all events and items.MemberHub is working with Heartland for their expansive payment capabilities, security and robust reporting features. They also work with over 34,000 schools and groups offering a complete and turnkey system for our users. Merchant applications are required to process payments in MemberHub and also route funds via ACH. Without an application, you will not be able to send or collect money on-line.