Finance FAQs are listed below to help answer questions about various finance related topics.
These FAQs are related to the 02-07-2024 SHP newsletter article.
Why are you implementing this now?
Due to the continued increase in credit card fees and adding a new option for donation, doing so now allows SHP to become more in line with the industry standard.
Doesn't my 10% cover this?
Per the SHP policy, the 10% covers standard bank and bank processing fees, however, due to the large growth and continued increase in credit card processing fees, SHP simply cannot cover the cost of every credit card processed. This growth has also allowed us to find better and more affordable processing options.
Are the processing fees lower now?
The new processor has lower fees, which means more of the donation goes directly to your chapter.
When will this take effect?
This donation updated will be live on Wednesday, February 14, 2024
Will the donor still get an email receipt for their records?
Yes, all the donor processing will still remain the same.
Will I still have access to all the donor information?
Yes, you will still have complete clarity into who is donating to your chapter.
Will the default option be to have the donor pay the processing fee?
The checkbox is not automatically checked. We are researching if it is possible to be checked by default.
What if I have questions about a donation, who do I reach out to?
You can reach out to our donation team email@example.com
What does the new donation screen look like?
The experience is changing for your donors. A simpler and more inclusive process as you can see in the screenshot below.
Is the donate button on my chapter page changing?
The donate button on your chapter page is not changing. It will still say Donate Now and take them to the new processor.
Will I get an email notification of a new donation with this new processor?
Chapters will not get an email notification of a donation. You’ll need to review your weekly P&L report to see new donations.