What are Direct Transaction Expenses and how do they affect my charitable donation?
Direct Transaction Expenses are the fees levied by the credit card processor, online credit card authorization (payment gateway) and credit card companies each time an online credit card charge is made. The fees are variable based on the volume of charges processed by the payment gateway, the credit card processor, the type of credit card used, etc. Direct Transaction Expenses related to charitable donations made through the NYC Swim website are deducted from the donation by NYC Swim’s Preferred Charity partner (which receives the dollars directly) prior to the payout to the swimmer’s charity. Thus, NYC Swim’s Preferred Charity partner and the swimmer’s charity share equally the net dollars raised after the Direct Transaction Expenses are calculated. Please note that these fees do not affect the tax deductible amount of a donation. The following are examples of the expected fee ranges for various donation levels: For a $25 donation, the typical allocation is $1.26 to $1.88 or 5.05% to
