Faithlife supports two funding deposit types: net and gross. Net is selected by default, but you can change your funding deposit type by going to your Finance Team and selecting Account under Settings in the Admin sidebar.
The default type: Net (a single deposit)
Faithlife Giving will deposit the total amount received less any processing fees into your church’s bank account in a single transaction. The amount will include all credit/debit card and ACH/eCheck transactions less any processing fees.
Example: $100 donation >> deposit $96.56 (Standard) or $97.21 (Premium)
The second type: Gross (a deposit and separate withdrawal)
Faithlife Giving will deposit the total amount received into the church’s bank account. A second withdrawal transaction will be made for the processing fees on the same day.
Example: $100 donation >> deposit $100 in one transaction and second withdrawal transaction for $3.44 (Standard) or $2.79 (Premium)
Learn about when funds will be available in your bank account.