EFT AUTHORIZATION FORM – Frequently Asked Questions
What is EFT and how does it work?
EFT stands for Electronic Fund Transfer. After you sign up for EFT, we will automatically transfer
payment from your designated account each month. On the draft date, your bank will transfer the
exact amount you enter on your authorization form, directly from your account into ours.
What are the advantages of EFT?
Covenant Mercies is charged a 3% fee on all credit card transactions. Through Electronic Fund
Transfers, there are no transaction fees, so you may have confidence that the full amount of your gift
will be received by Covenant Mercies. You will also save time and money, as checks, envelopes, and
stamps are eliminated.
Are there setup fees or monthly transaction fees associated with EFT?
There is no charge to you, either for set up or for monthly transactions.
How secure is the EFT process?
Financial institutions consider EFT transactions far safer than dealing with paper checks.
How do I sign up for the service?
Just fill out the enclosed EFT Authorization Form, attach a voided check or savings deposit slip
(write "VOID" across the face of it), and mail it to us. This will give us the information we need to
set up your EFT draft.
Can I cancel the EFT service if I’m not satisfied?
The EFT draft may be canceled at any time by contacting Covenant Mercies, or by notifying your
financial institution in writing.
What happens if I switch banks?
If you begin banking with a new financial institution, we would simply need you to complete a new
EFT Authorization Form at that time.
Can I still make monthly gifts by credit card?
Due to the 3% fee we are charged on each credit card transaction, we encourage donors to consider
EFT as a first option. However, if you would like to set up a recurring gift to Covenant Mercies via
credit card, this option is indeed available. Please visit www.covenantmercies.org/donate to set up
your recurring gift.
What if I have further questions?
If you have any questions, please contact us at info@CovenantMercies.org or 610-361-0606 ext. 114.
We will be happy to answer your questions or provide you with more information on how you can
set up an automated monthly gift.
ELECTRONIC FUND TRANSFER (EFT) AUTHORIZATION FORM
To initiate EFT contributions to Covenant Mercies, please complete and sign the form below.
Financial Institution Name: ____________________________________
Account Type:
□ Checking □ Savings
Account Number: __________________________________
Routing Number___________________________________ (the first 9 digits on the bottom left of your check)
Phone Number: ______________________________
Email: _________________________________
Monthly General Contribution to CM $ ___________ (General program needs)
Monthly Orphan Sponsorship $ ___________ (# of sponsored children x $35)
th
= Total Transfer $___________ (amount to be transferred to CM on the 5 of each month)
(Please allow up to five business days for your initial transfer request to be processed by the bank).
TO COMPLETE THIS REQUEST, PLEASE ATTACH ONE OF THE FOLLOWING:
1) A voided check from your checking account, OR 2) A deposit slip from your savings account (if available)
_____________________________________
Printed Name
_________________________________ ______________
Signature
Date
*Only one signature is required for joint accounts.
By signing above: I (we) hereby authorize Covenant Mercies to withdraw the stated amounts by initiating debit entries
to my (our) account at the financial institution indicated in this agreement. I understand that this authorization will
remain in effect until I notify Covenant Mercies or my financial institution in writing in such time and manner as to
afford Covenant Mercies and my bank reasonable time to act on it.
1 Fellowship Drive, Glen Mills, PA 19342
Phone: 610-361-0606 ext. 114