Zero Fee Online Payments
PFM has an automatic, inbuilt, free of charge with zero fees
option that utliises standard online banking facilities.
This means that schools can offer parents the facility to pay online
without having a large outlay to setup a third party online payment system.
(PFM does also link with various external online payment provider such as SchoolComms, Parentpay, Parentmail, Teachers2Parents, Payments4Schools etc., to automatically import payments received online if you already have one of these)
Zero Fee online payments
Parents make payments through their existing online banking (or mobile banking through their mobile phone) using the Lloyds, Barclays etc., website or app but enter a specific, unique reference code at the time of payments, that Private Funds Manager automatically generates and uses to identifty the student and what they are paying for. The school issues this code in the form of an email or letter. The school then logs onto their own online banking, in order to download and automatically read in payments received from parents. An inbuilt 3 point checker, means that even if the parent enters the code incorrectly, PFM is able to identify who / what it is for, and if they just don't enter the code at all PFM enables you to 'point and click' to choose the correct student and trip/account.
This inbuilt function is free of charge, but also attracts zero transaction fees.
Link with external providers
Private Funds Manager automatically reads in transactions made through external providers including Parentpay, Parentmail +Pay, Payments4Schools, Teachers2Parents, SchoolComms and sQuid. Parents make their payments through these systems, and the school then downloads and automatically reads in all the payments made. PFM knows who the payment is for, and what trips/account. Payments are posted to the pupil immediately, and then actual money transfered when a settlement is made to the school.