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Finance Charge - Changes March 2022

We are about to release a major update to our donations module with a range of new features for you to accept payments including direct debits, recurring donations, pledges and more. These will be released over the coming months.

As part of this update our transaction pricing is changing. We've shown the pricing below along with the current fees and with an example of the difference in fees when a donor gives £10 compared to the old fee. The new fees shown below are the total fees - there are no additional processing/ provider fees.

Charges for transactions within iKnow

Giving online (via website and mobile app)

Type Current Fee New Fee Difference in £10 donation
Debit Card 1.5%  + 35p 1.69% + 30p 3p extra to the church
Credit Card (not American Express*) 2.5% + 35p 1.89% + 30p 11p extra to the church
Direct Debit Not previously available 1.4% + 20p capped at £4 per transaction N/A

 

Processing payments within the iKnow Finance module

Type Current Fee New Fee Difference in £10 donation
Debit Card 1.5% + 35p 1.69% + 30p 3p extra to the church
Credit Card (not American Express*) 2.1% + 35p 1.89% + 30p
 
7p extra to the church
Direct Debit Not previously available 1.4% + 20p capped at £4 per transaction N/A

 

Ticketing

Type Current Fee New Fee Difference in £10 ticket
Debit Card 2.5% + 50p 2.5% + 40p 10p extra to the church
Credit Card (not American Express*) 3.0% + 50p 2.5% + 40p 15p extra to the church

* American Express will be available but due to their charges it will be at a higher rate.

Other Costs

As iKnow Church includes a full Gift Aid claim integration with HMRC it means that your church can manage all the donations within iKnow Church.

Type Current Fee New Fee
Gift Aid Charge 0.5% - 1% of claim 1% of claim
Payout Fee 0p 20p per payout of funds
The payout fee of 20p will be shared amongst all payments made that day (ie 10 donations are paid out and 20p is charged once for all 10 donations) 

 

Example of a £1,000 donation by Debit Card with Gift Aid claimed through iKnow Church
Donor Gives £1,000  £1,000
Less Transaction cost (1.69% + 30p) £17.20
Gift Aid claimed through iKnow Church £250
Less Gift Aid Charge £2.50
Church Receives £1,230.30

The new fees on this page will apply once the new Finance module is released for your church. 

 

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