The average rate for processing credit cards for many giving platforms is 2.9% + 30¢. We simply pass the fees charged by card brands like Visa and Amex, directly to you along with the 30¢ per transaction fee. The industry term for this fee is called interchange, learn more here.
For bank transfers, sometimes called ACH, or e-check, many giving platforms charge 1%-2% + 30¢. We simply charge 30¢ per transaction to cover the gateway fees involved. View more information on gateway pricing here.
Encouraging gifts via bank transfer will result in the lowest possible fee structure for your ministry.
Everybody has guarantees, but they're littered with caveats and gotchas. None of that here. Our promise is simple: no matter what, we never markup or profit on the money for your mission. Learn more about the surprising truth behind online giving guarantees.
Fees aplenty, marking up processing costs, and skimming on ACH gifts. What it boils down to is for profit companies making money in two ways, from tithes and from offerings.
As a ministry and nonprofit we simply pass on the costs associated with giving. We believe ministries should be able to accept gifts without losing cents on every dollar for others to profit on.
Interchange is a fee charged by the major credit card payment networks: Visa, MasterCard, Discover, and American Express to a merchant's bank in exchange for processing a payment. These fees can vary, based on the card type, whether or not it's a rewards card, credit vs debit card, and many other factors. Currently there are over 470 different interchange rates!
It’s worth noting that all giving platforms and payment processors are charged the same interchange rates regardless of size. They add their profits on top of of that interchange. We are the only nonprofit ministry that will give it to you at cost plus zero and keep it at cost plus zero. For a deep dive, checkout our article: What are interchange rates and should I care?
Your average effective rate is the sum of your interchange fees, additional basis points, gateway transaction fees along with any ACH transactions fees divided by the total volume processed in a given time frame.
To calculate your rate, you’ll need your merchant statement, gateway statement, and ACH statement if you have one. We wrote a helpful article to guide you through the entire process.
We assess the monthly platform fee based on the number of gifts you process each month. This means you only pay for what you process. If the total gifts given falls below your current tier, then your monthly platform rate will decrease. If you process enough total gifts to get to the next tier, then your rate will increase accordingly. Bottom line: you pay for the tier you fall in for each month.
Most organizations charge 2.9% + 30 for payment processing. Our model uses Interchange Plus Zero pricing. We simply pass the fees charged by card brands like Visa, MasterCard, Discover, and American Express, directly to you, along with the 30¢ per transaction fee.
For bank transfers (ACH), there are no additional or hidden fees—just the 30¢ per transaction fee.
No matter what, we never markup or profit on the money for your mission. Keep reading to learn more about how My Well processing fees compare.
One of the more popular pricing models is called flat rate pricing, often seen in the format of 2.9% + $0.30 per transaction. While this is easy to understand, since you're not paying Interchange rates, you always overpay for credit card processing fees.
Interchange Plus Pricing is a passthrough set up where the merchant receives the actual interchange rates (which is passed onto you at cost) plus a set of basis points (which is a percent) and a transaction fee.
Other payment processing companies will add another layer of profit on top of these Interchange fees. At My Well, we never markup the Interchange rate, so you always pay the lowest possible rates based on the card type being used.
Read More about Interchange Plus Zero Pricing.
With My Well Ministry, there are no setup fees, annual account fees, account termination fees, or PCI / Security fees (If you complete certification through our partner TransNational, which we provide to you for no cost).
Across all of our partners, we’ve seen an average savings of 40%-50% off previous processing rates.
If you’re currently processing more than $4,000 each month, then partnering with My Well Ministry for online giving will be your best option. See how you can get the best online giving rate if you're a small church.
Visit our Help Center for more advice and answers to common questions about us, our process, and your next step.Visit The Help Center
We can give you an estimation of what your savings will be. Churches and ministries are surprised at how much profit is being added into their current processing fees, that will now be eliminated.Request Report