When churches use Tithely Giving, the process is designed for simplicity. Just as with major payment processors, Tithely deposits the net amount into the church's bank account after deducting the processing fees. This article delves into how this system functions and provides guidance for church accountants on recording these fees. The short answer is that your churches accountant is responsible for recording the fees in a way that makes sense and adhere to your regions regulations. Tithely cannot provide tax or legal advice.
Tithely Giving's Processing Fees
Tithely's processing fees vary by country and the type of card or method used. Here are the details:
UNITED STATES 🇺🇸
2.9% + $0.30: VISA, MasterCard, Maestro, Discover, JCB, Union Pay, Diners
3.5% + $0.30: American Express
1% + $0.30: ACH/Bank Transfer
2.9% + C$0.30: Visa, MasterCard, Maestro
3.5% + C$0.30: American Express
1.9% + AU$0.30: VISA, MasterCard, Maestro & American Express
NEW ZEALAND 🇳🇿
2.9% + NZ$0.30: Visa, MasterCard & Maestro
3.5% + NZ$0.30: American Express
UNITED KINGDOM 🇬🇧
1.9% +30p: Visa, MasterCard, Maestro & American Express
3.5% + SGD$0.50: Visa, MasterCard, Maestro, and American Express
HONG KONG 🇭🇰
3.5% + HK$2.35: Visa, MasterCard, Maestro, American Express, Discover, and Diners Club
3.5% + ¥30: Visa, MasterCard, Maestro, American Express, Discover, and Diners Club
Exporting a CSV of a Bank Deposit
Churches can easily create a detailed financial report that highlights the fees from a deposit. Here's how: View the entire article.
- Log into Tithely as an Admin or Limited User with Financial Permissions.
Select Giving on the left-hand menu.
Select Bank Deposits from the Giving menu.
Find the bank deposit you'd like to view.
Click on the bank deposit to view a summary of the bank deposit.
On the Deposit card, click the Download CSV button
A pop-up may appear asking you "Do you want to allow downloads on “app.tithely.com”?" Select Allow.
A file will download to your computer. Depending on your settings, this may go to your Downloads folder, Desktop or other pre-selected location.
While Tithely Giving streamlines the donation and deposit experience, accurate financial recording remains crucial for each church. Ensure your church's accountant is up to speed, diligently tracking and recording processing fees for complete financial transparency.