FAQs: Saving Payment Information with Marble

How does temporarily saving my payment information to Marble work?

• Once you’ve started working with a Marble agent and you find a new policy that works for you, your agent will create a secure link that will allow you to safely and temporarily save your payment information.
• Once your agent creates that link, you will see a banner at the top of your Marble profile where you’ll be able to click through to the payment lander. In addition, your agent will email or text you this link. If they email it, it will only come from an email that ends in @marblepay.com. You do not need to be logged into your Marble account to open the link and submit your payment information.
• The page you land on will show you the basic details of the quote associated with that particular payment. Note: this payment information will only be used for that particular quote. 
• On this page, you’ll be able to provide either your credit card details or bank account information (ACH).
• After you save those details, your Marble agent will be able to proceed to bind the quote for you, which will happen after you reach a final decision on coverage and receive sign-off from the insurance carrier. 

What are the benefits of temporarily saving my payment information to my Marble account?

• We developed this payment tool to simplify and expedite the shopping experience for Marble members. After you save your payment information, the agent you’re working with will be able to finalize the policy without needing to get on repeated phone calls with you or asking you to read out your payment details in public. In short, it saves you time and keeps your information safe!
• This is a unique tool in the insurance industry, and we’re proud to have developed it at the request of Marble members, who asked for a secure way to provide credit card and banking details without having to get on the phone.  

Is temporarily saving my payment information to Marble secure?

• Yes, we built this tool with our members’ security top of mind. Once you submit your payment details, the information is sent to a third-party provider called Basis Theory, which specializes in securely storing payment information. They have been validated by external auditors to meet the top compliance, security, and privacy standards (PCI Level 1 Compliant and SOC 2 Type II Certified).
• Marble does not store any of your payment details in our systems. In addition, we minimize any security risks even further by only allowing our third-party provider to hold the payment details you submitted for 30 days from the point of submission.

Can I modify my payment information once it’s saved?

• No. For security reasons, you cannot modify your payment details once you submit them. If you need to update the information you provided or change payment details entirely, please email support@marblepay.com. A member of the Marble team will then clear your old payment details and provide you with a new link to submit updated, accurate information.

Will I end up needing to access my new insurance carrier’s site for future payments?

• Yes, you will eventually need to access your new insurance carrier’s site for future payments. We temporarily save your payment info to initially secure your rate, and we then use it to handle the first payment and bring your new policy into effect. After that point, you’ll need to create a profile with the carrier to modify your payment details in the future. 
• That said, your Marble agent can set you up on auto-payments when they initially bind the policy and pay the first installment. Your Marble agent will confirm whether this is something you want to do when they’re finalizing the policy details with you. If you agree to auto-payments, your payment information will be securely passed to the carrier, where it will be stored and used for future payments.

Will the payment information I temporarily save to Marble also be stored for renewal with the carrier?

• If you’d like your credit card or bank account information to be used for your renewals, let your agent know when they are finalizing your policy. Once you do that, your agent will securely pass your payment information to the carrier and set you up on auto-renewal.

Are there any fees associated with paying via credit card versus paying via ACH?

• This answer varies by carrier, but in general, most carriers do not charge for payments via ACH, whereas they usually charge $1 per transaction for payments via credit card. As a general rule of thumb, fees are lower when paying via ACH.
• However, some carriers will charge regardless of what payment method you select. 
• The best way to know for certain is to ask your agent. They’ll be able to tell you whether that specific carrier charges fees for either payment method, and also whether the rates will increase or decrease depending on the payment schedule (i.e. paying monthly or paying for the full term).

What if my payment is declined?

• It happens to the best of us! Unfortunately, if your ACH payment is declined, most carriers will add a fee when they are finally able to process the payment. That fee can range from $10 - $25.
• If your credit card is declined because the effective date has passed, you won’t be charged any additional fees by the carrier, but you’ll need to provide the updated effective date in order for the payment to be processed.
• Whatever the payment method, you’ll want to get in touch with your Marble agent to provide updated payment information. Your agent will schedule a call with you to confirm final details on the phone in order to avoid any further issues or charges.

What happens if I need to expedite payment for my new policy? 

• If you need to expedite payment, the best way to ensure a fast turnaround is to schedule a call with your Marble agent. They will confirm and finalize the payment information with you on the phone, and then pass that along to the carrier.