Understanding Processing Fees: How Do They Work?

Understand how and when to account for gifts through Overflow and how processing fees will be assessed.

 

We understand that when accounting for gifts, it is critical to track every cent. With that in mind, we've detailed below when to expect donation deposits and how the processing fees will be assessed for each asset type. Note that Overflow App Inc. bills processing fees (the percentage fee per transaction) according to agreed-upon terms on your signed contract. Please reference your signed agreement for specific terms. Your organization will be invoiced for the per-transaction processing fee at the end of each quarter.

 

CASH

Cash processing fees will be assessed when the transaction is confirmed. Cash transactions are batched and deposited into your bank account on a regular basis, less the transaction fee established in your Overflow agreement. For more information about the deposit schedule of credit, debit, and ACH transactions, please refer to this article.

 

CRYPTO

Cryptocurrency will be liquidated immediately upon receipt. Processing fees will be assessed based on the value of the crypto you received as cash in your crypto wallet. Every Friday, the liquidated value of the crypto donation less the processing fee will be deposited directly into your bank account. If the total liquidated value of all crypto donations in your wallet is less than $50, the funds will remain in your crypto wallet until they exceed $50. At that time, donations will be batched and deposited into your bank account the next Friday. The deposit will appear under the name Gemini Trust Company LLC on your statement.

• NOTE: Processing fees will never exceed the fee established in your Overflow agreement. However, it is possible that, depending on the coin that was donated, the fee is slightly lower than your contracted processing fee.

 

STOCK

Stock processing fees are assessed differently depending on how your organization chose to receive your stock donation gifts. Reference your organization's specific payout method below to understand how you will be billed for per-transaction processing fees.

 

Liquidation Method

If you authorized Overflow to act as your agent to liquidate stock gifts on your behalf, the donated shared will be liquidated within 24 business hours and your organization will receive the full cash proceeds of that transaction directly in your bank account. Processing fees will be assessed quarterly based on the value you received as cash in your bank account.

 

Brokerage Method

If you chose to receive gifts of stock in-kind, the donated shares will transfer directly into your organization's brokerage account. Processing fees will be assessed based on the fair market value of the stock on the day it was received into your brokerage account. This is based on the date you confirm receipt of the shares in your Dashboard.