Why Do We Receive Coupon Books?

And How Can We Streamline the Payment Process?

As the year draws to a close, the time for budgeting and setting payments for the upcoming year has arrived. This is also the season when inquiries arise regarding the necessity of receiving coupon books. At BRIGS, we share the desire of property owners and boards to reduce our reliance on coupon books.

The issuance of these coupon books not only incurs an expense for the Association but also places a considerable administrative burden on BRIGS.

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The fundamental reason behind the continued use of coupon books is that financial institutions require these coupons to identify and appropriately allocate payments to the respective association and unit. Without the presence of a coupon, any submitted check becomes an exception that necessitates manual processing.

In light of these challenges, the question naturally arises: is there a viable solution to eliminate coupon books altogether? Until banking institutions devise a means of identifying payments without these coupons, the most expedient option is to utilize our online portal for making payments. There are numerous advantages to paying via this online method as opposed to mailing a traditional check.

Here are some compelling reasons why the online portal is a superior payment method:

  1. Enhanced Security: Mailing a traditional check carries the risk of interception and potential exposure of your account information to unauthorized parties. With the rising incidence of cyber fraud and check fraud, the process of recovering your account data and funds can be frustrating and often unproductive.

  2. USPS Delays: Sending a check via the United States Postal Service may introduce delays in getting the payment to the bank on time, potentially incurring late fees.

  3. Instant Payments: Our online portal allows for instant payments with minimal exposure to fraud, offering a seamless and secure transaction process.

  4. Payment Options: The portal provides a broader array of payment options, including ACH, E-check, credit card, debit card, and even Apple Pay, providing flexibility to suit your preferences.

It's important to note that while some individuals opt to have their banks make payments directly on their behalf, this method is frequently misunderstood. Payments made in this manner are not automatically deposited into the Association's account, even if funds are immediately debited from your account. The checks are typically mailed and are often challenging to identify and process due to the lack of a coupon, resulting in a manual, time-consuming procedure. Delays in USPS deliveries can further exacerbate this situation, necessitating owners to request late fee waivers.

In contrast, our Association Portal offers the safest and most secure means of paying your fees, all without the need for coupons. Funds are promptly deposited into the Association's bank account without the vagaries of postal delays. The portal is directly connected to the bank, employing highly secure encryption protocols. An oft-heard concern is the reluctance to share routing and account numbers with BRIGS or the Association. However, when sending a check, this information is invariably provided.

By choosing the portal for your payments, you gain the following benefits:

  1. Heightened Payment Security.

  2. Expedited Receipt of Funds.

  3. Control Over Fund Transfers.

  4. Potential to Eliminate the Need for Coupons if universally adopted by Association members.

In conclusion, while the use of coupons serves a fundamental purpose in ensuring accurate payment allocation, we must also consider alternative means of simplifying and enhancing the payment process. Utilizing our secure online portal not only streamlines payments but also offers enhanced security and convenience. By embracing this modern method, we can collectively reduce the reliance on coupon books, thereby saving the Association money on printing and mailing costs. 

If you need assistance in setting up payments through the portal, please call the office or email Client Services at CS@BRIGSLLC.com and they would be happy to assist you.

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