Not all payment processors have government oversight.

However, payment processors, such as e-Funds for Schools, powered by Magic-Wrighter, Inc., are required to have government oversight, including regular examinations of its data center and the services provided.

Government regulators, such as the FDIC, OCC, OTS, State and Federal, may perform audits on our services at any time, but are typically scheduled.

Government oversight verifies a data center is properly following regulatory requirements and is operating with sound business practices.

While these audits are confidential and are not for public disclosure, audit reports and findings are made available to the financial community, including the financial institutions selected by e-Funds for Schools for processing the school's payments.

Selecting a company that has regular government oversight could provide additional benefits to the school.

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Contact Richard Waelti
866-770-5856 or
262-377-8306

Rwaelti@wi.rr.com

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