Changes to eCheck and Related Fees
As of July 10, 2022, there will be a few changes related to the eCheck payment method and related fees.
Our eCheck payment method will no longer be available on the Basic plan and the platform fees for credit cards will adjust slightly to 3.5% + $0.59. Cheddar Up will continue to allow fees to be refunded if issued within 10 days of the payment date.
These changes are due, in large part, to new regulations enforced by the governing body for ACH payments (NACHA) that require additional bank account verifications and increase the costs of the echeck payment method. This added expense, in addition to other fraud prevention costs across all payment methods, requires us to make these small changes for the ongoing health of the business.
What are my options if I want to continue to offer payment by eCheck?
Sounds like you may want to consider moving to the Pro or Team plan. ECheck is available on the Pro plan for 0.75% (minimum of $1.00) and on the Team plan for a flat $0.59. To make that move easier, you can use the discount code PREP35 to save 35% on a yearly Pro or Team subscription. This offer expires on August 15.
Cheddar Up is deeply committed to providing robust software to simplify how groups and communities collect payments and information — with an option for no out-of-pocket expense to group organizers.
If you have any questions about these changes, please contact us. We dislike pricing changes just as much as you do, and we apologize for any inconvenience. As always, we greatly appreciate having you as a Cheddar Up user and we look forward to continuing to serve you. You can also look forward to some exciting new features coming out later this year.