Credit Transactions Fees Key to New Alcorn Bank Depository

CORINTH, Miss. (AP) — Alcorn County is considering bids from banks wanting to handle the county’s financial accounts.

Key to the county’s selection of bank is whether it will absorb fees associated with credit and debit transactions for payment of taxes and car tags.

Tax Collector Larry Ross told supervisors Monday that in past years, SOUTHBank covered credit card processing fees as part of its agreement with the county. Ross says that totaled about $45,000 during the past year.

If the new agreement does not include the processing fee, Ross says he’ll have to impose a service fee in order to continue accepting credit cards from residents paying for tags or property taxes.

The board of supervisors received bids from BancorpSouth, Farmers & Merchants Bank and Regions.

Categories: Local News

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