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What is EFT?
EFT (Electronic Funds Transfer) is an easy way to spread your contribution out over time. It's also a fantastic way to make your life simpler and the University of Minnesota greener. You'll save yourself the trouble of having to write a check and mail it, as well as save paper and administrative expenses. That means the University can put more money to work in ways that really matter – supporting students and creating an incredible educational experience.
Being an EFT donor means you can have an impact and still have your donations fit within your budget. You can give as much as you want on a monthly or quarterly basis without sending in paperwork or a check every time!
How does it work?
First, you will need to sign up using this form, providing your information and where you'd like to lend your support. Next, simply mail in the form with appropriate documents (usually just a voided check) and your monthly or quarterly contribution will be automatically withdrawn.
And remember, you can change or stop your contribution anytime by sending us an e-mail.
It’s the easiest way to support your favorite program at the University of Minnesota!
Still have Questions? Here are some common EFT questions and answers!
Q: Is there a minimum to give?
A: Yes, minimum monthly payments must be $5 and quarterly payments must be $15.
Q: How will I know when my gifts have been deducted?
A: You can choose to have your gifts deducted on the 15th or 30th of the month. If those dates fall on a Sunday or holiday, your gift will be deducted on the next business day. Records of each gift will appear on your monthly account statement.
Q: What if I switch banks or need to change my credit card information?
A: Just send in an EFT form with your updated payment information and the change will be made within 30 days. To cancel your recurring gift, just notify the U of M Foundation in writing.
Q: Why do I have to mail a form in, can't I sign up for this online?
A: Currently, we need your signature as authorization for recurring payments. The only way to obtain that signature is by mailing in a signed EFT form.