My sons' school Chettinad Harishree Vidyalayam is asking its 1080 students to open an account in a local private bank - City Union Bank just to pay the fees. We each have to open an account in the bank and then transfer money from that account to the school for fees. When I ask why, this is the response I got:
With regard to your email below, the online fee payment facility is requested by most of the parents from last 2 to 3 years. We are insisting on opening a bank account with CUB is ONLY because we need the details of payment with Name, Class, Ad.No, Fee breakup and Term breakup of the fee collected. When we transfer fee from the personal account, it will be a total amount with some description like child name or class and also it is not mandatory during fund transfer. So the school will lack in getting details of collection. And when some problem arise during online payment, it will be a easy task to handle with a single bank branch.
Keeping all the above things in mind, the management has decided to proceed with the said process.
FYI, the account opened will be a NIL account with no charges involved for transfer of funds.