A Note on Giving

Dear friends, the following communication I received from the WIM office about credit card donations, which I know some of you do. I thought you might be interested to hear about this. So, without further ado~
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As many of you know there are new rules and guidelines set by congress for credit card companies to follow. This has caused an increase in the fees the credit card companies charge their customers. Therefore, effective October 1, 2010 the following changes will be made in the WIM office.

1. For donations from MasterCard or Visa the donation will be assessed a 3.1% fee plus $0.18 transaction fee. The current rate is 2.24% plus $0.18 transaction fee. For example, a $100 donation will come to you as $87.05

$100.00
- 3.10 (3.1% Credit Card fee)
96.90
- 0.18 (Transaction fee)
96.72
- 9.67 (10%)
$87.05

2. For donations from Discover Card the donation will be assessed a 2.34% fee plus $0.18 transaction fee. The current rate is 2.24% plus $0.18 transaction fee. For example, a $100 donation will come to you as $87.73

$100.00
- 2.34 (2.34% Credit Card fee)
97.66
- 0.18 (Transaction fee)
97.48
- 9.75 (10%)
$87.73

The most cost effective way to have your donors give electronically is through their bank. The donor needs to set up monthly bill pay from their bank to WIM. There is no cost to the donor and no additional cost to you. Sometimes simple communication with your donors will help them understand why this is a more effective way to give.
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If you have any questions about your donations or would like to learn about another way to donate, please contact me and we can figure it out! Thank you!