Wells Fargo Credit Card Rebate Program

About the Program

Category: Financial Management (Best in Category)

Year: 2013

The St. Lucie County Clerk’s Office joined the Wells Fargo Bank credit card revenue sharing program in April 2011. At that time, the Clerk’s Office was the first County in the state of Florida participating in this type of program. This program enables the Finance Department to generate additional general fund revenues for the St. Lucie County Board of Commissioners. The program also decreases operating costs by utilizing a credit card payment option in addition to check and direct deposit (ACH). Once a year, Wells Fargo Bank provides a revenue share to the Board of County Commissioners at a rate between 1.15% and 1.45% of the total amount charged for the calendar year.This program not only creates an opportunity for additional revenue, it also enhances customer satisfaction by providing accelerated cash flow to the vendors without any increase in staffing costs. For 2011, the Clerk’s Office generated $62,852 in revenue sharing after 8 months of the program. Clerk Finance staff continues to improve operating procedures to facilitate the success of the program. For 2012, the Clerk’s Finance Department generated $172,167 in revenue sharing.