ACH vs CC vs Check
Are you frustrated at having to spend your hard-earned money on FEES!? Then read on…
We live in an amazing age! Confusing, yes, but amazing. There are times when we all need clarification on things we want to do, the places we want to go, and how the Mukti accounting system works. We’re here to clarify that for you!
If you don’t know about your Mukti Mission US account, you probably haven’t created one yet. You can learn about how to create one HERE. There are a lot of benefits to having an account that you have created.
About those fees.
When one of our Partners uses their credit card to invest in Mukti we all benefit from the consistency of the gifts for the Mission. But the fees! ALL credit card transactions with every merchant you do business with have fees attached. Everyone! Those fees can range from 3% to over 6% depending on the credit company.
Someone has to pay those fees.
When you use your credit card on the Mukti Mission US website, the 4% fee charged by the credit card processor is automatically added to your investment. If you do not want to pay that fee, simply uncheck the tick mark in the transaction fee box. Mukti Mission will then be charged that fee. If you’re paying attention you will realize that the fee is charged whether you add it to your investment or allow it to be subtracted later in the process when Mukti gets the credit card processing bill for fees.
ACH – What is it? And what does it cost?
Google tells us that ACH means,
The Automated Clearing House (ACH) is the primary system that agencies use for electronic funds transfer (EFT). With ACH, funds are electronically deposited in financial institutions, and payments are made online.
You can utilize an ACH transfer to make your Mukti investments. There is still a fee but it is $1 plus 1% per investment transaction – so, significantly less expensive. Set up an ACH investment transfer through the Mukti Mission US account you set up above, and then follow these steps to set up ACH:
- On your account dashboard, there is a primary payment method area where you can input credit card info AND ACH info to be used for investments.
- Click on ‘Manage Payment Methods’
- On the next page click on ‘Add Payment Method’
- To input a credit card, click on the ‘Card’ section
- To input ACH information, click on the ‘US Bank Account’ section
- After all information is filled out, click on ‘Submit’
What about checks?
If you’re under forty (40 years of age) you may not use these too often. Checks are a wonderful invention. However, they are not free either. You must purchase the checks, purchase envelopes, plus pay postage to get the check to our offices (that’s 0.72 per stamp now).
So what choice will you make?
That is up to you. Mukti Mission US has made the effort to provide multiple giving streams so you can use the one that is most convenient for you. Just be aware that there are costs with each one.
And as Paul Harvey used to say, “And now, you know, the rest of the story…“