How payment plans work

A payment plan splits a charge (or several charges) into smaller payments that we take automatically from your card or bank account on set dates. Members set up plans in the MyGreek web or mobile app. Parents and others paying for a member use pay.mygreek.us.

Two kinds of payment planCopy Anchor Link

Pre-set plans. Your chapter can offer ready-made schedules, for example three payments on set dates. When you enroll in one, it is approved right away.

Custom plans. If your chapter allows it for that charge, you can propose your own schedule: an amount per payment, how often to pay (every week, every 2 weeks, every month and so on) and a start date. The payments must add up to your full balance. A custom plan needs approval before it runs.

Your chapter decides which options you see. If neither shows up for a charge, your chapter doesn't offer plans for it. Ask your treasurer.

Payment plan approvalCopy Anchor Link

A custom plan starts as Waiting for treasurer approval. Then one of these happens:

• Approved automatically. Your chapter can approve plans that finish by a certain date without review. While you build the plan, the app tells you if yours qualifies, for example "This plan will be approved instantly."
• Approved or rejected by your treasurer. You get an email when they decide.
• Expired. If nobody approves the plan before its first payment date, it expires that morning (Central Time). No payments are taken. Your balance stays on the charge, and you can pay it or propose a new plan. The app shows the exact deadline when you submit.

Your treasurer can also propose a plan to you. It shows as Waiting for your approval. You choose a payment method and accept it, or reject it. It also expires if you don't accept it before its first payment date.

The payment plan scheduleCopy Anchor Link

• Payments are taken on the morning of each payment date (around 8 to 9 AM Central Time).
• If your chapter has payment reminders turned on, the person paying gets a reminder email the evening before each payment.
• If your chapter passes processing fees on to members, each payment includes that fee. You see it before you confirm. See Fees.
• A plan that covers several charges works as one plan: one schedule, one payment method, and it is approved or canceled as a whole.

Joining a pre-set plan lateCopy Anchor Link

If you enroll after one of the plan's payment dates has passed, it depends on how your chapter set up that plan:

• Catch-up: the missed payments are combined into one catch-up payment, taken on the next morning's run. Later payments keep their dates.
• No late enrollment: you can't enroll in that plan once a payment date has passed, unless you already paid that part of your balance. Pay toward your balance or pick a different plan.

Paying extra while on a planCopy Anchor Link

You can still make a regular payment while you're on a plan. It counts toward your next scheduled plan payment, so that payment gets smaller (or is covered completely). Your plan dates don't change.

If a plan payment failsCopy Anchor Link

The person paying gets a "Payment Failed - Payment Plan" email. We try again 1 day later, then 3 days after that. If that third try also fails, the plan is canceled. Some problems, like an expired card or a closed account, cancel the plan on the first failure. See A payment plan payment failed.

Payment plan statusesCopy Anchor Link

Each payment in the plan has its own status: Scheduled (not taken yet), Completed, Retrying (it failed; shows the date of the next try), Failed or Canceled.

RelatedCopy Anchor Link

• Set up a payment plan
• Change the card on a payment plan
• Cancel a payment plan
• A payment plan payment failed
• How late fees work