A: There are two components to the fees withheld for processing your donations.
A fee of 3% is automatically withheld by credit card and merchant services (American Express is slightly higher at 3.5%) before the donation is passed on from the donor to EquipNet.
EquipNet also withholds 10% of the total donation. This is to cover the costs Equipnet incurs for accounting, banking, donor processing and receipting the donor.
For example if you receive a $100 donation, you will receive $87. ($100 – 3.00 (3% credit card fee) – $10.00, (10% EquipNet fee), = net donation of $87.00.) If your donor decides to use the ACH feature, to make a donation by a debit to their checking account, there is no credit card merchant fee. In this case the 10% Equipnet fee is the only fee.