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What is electronic donation? Electronic funds transfer is an automatic transfer program which allows you to make donations and/or purchase grocery certificates without writing checks.
What is the advantage of electronic funds transfer? It saves time. You also help the church stabilize its budget and save money.
How is my electronic funds transfer automatically deducted from my account? Once you authorize the transfer, your specified contribution or grocery certificate purchase is electronically transferred directly from your checking or savings account to the church’s account.
When will my donation be deducted from my account? Vanco works back from your specified date(s) to make sure your deposit will be posted to St Luke’s bank account on the date(s) you specify. It is a normal procedure in the banking industry to allow at least three days for the EFT to be completed. Thus, Vanco sends the authorization to our bank three business days (excluding holidays) before your specified dates. Your deposit may be deducted from your bank or savings account a day or two before the date(s) you specify. Therefore, if your date(s) are sensitive to a particular date such as your payday, you may want to select a date at least two to three days later than your controlling date.
If I do not write checks, how do I balance my checkbook? Since your electronic funds transfer is made at a pre-established time, you simply record it in your check register on the appropriate date.
Without a canceled check, how can I prove I made my donation? Your bank statement gives you an itemized list of electronic transfers. It is your proof of donation. St Luke’s also continues to provide a giving statement.
Is electronic donation risky? Electronic funds transfer is less risky than check using standard checks. It cannot be lost, stolen or destroyed.
What if I change bank accounts? Notify Director of Finance and you will be given a new authorization form to complete. (Allow 5 business days for change)
How much does electronic funds transfer cost? For you nothing! For St Luke’s the fee is very minimal.
What if I try the electronic funds transfer program and don’t like it or need to change it for any reason? You can cancel or change your authorization by notifying the Director of Finance at any time..
How do I sign up for electronic fund transfer to make my contributions to St Luke’s or purchase grocery certificates? Complete and sign the reverse side of this authorization form and return it to the Director of Finance or the church office along with a voided check or voided savings deposit slip. Envelopes are available for privacy.
How will I receive my grocery certificates? Stop by the grocery
certificate table in the Narthex on Sunday mornings where your certificates will
be waiting for you. This procedure will be monitored and may be modified from
time to time to better serve you. You will be notified if changes do occur.