A convenient way to support Beloit, this gift payment option offers the same ease and security as other things that you may already be direct depositing—like your paycheck. And, unlike credit cards, when you authorize your bank or credit union to make gift payments on your behalf, more of your gift can support Beloit because the College pays no processing fee.
Fill out the EFT Authorization Form, print it and send it to us. Sign up for automatic one-time or monthly deductions from your bank or credit union account. (EFT is available only through United States financial institutions.) For questions regarding how to set up an EFT, email our Gift Processing Specialist, or call 800-331-4943 or 608-363-2632.
FREQUENTLY ASKED QUESTIONS
What are the benefits of supporting Beloit College through EFT?
What is the payment schedule?
Can I do a one-time withdrawal?
Do EFT gifts qualify for employer matching gifts?
How is EFT a tool to reach various gift club levels?
May I change or cancel my EFT?
What are the benefits of supporting Beloit College through EFT?
Beloit pays no processing fees for EFT transactions; therefore, more of your gift can be utilized by the College.
Your contribution can be paid in installments spread out over the entire fiscal year or whatever timeframe you desire. Your cumulative giving may qualify you for a higher gift club level than you can comfortably achieve with a one-time gift. You will receive an acknowledgment of your gift at the end of each calendar year for your tax records. As a member of this monthly giving program, you will no longer receive Beloit Fund mail or phone solicitations, thus allowing Beloit to maximize your contributions. If you select "indefinite" your deductions will continue unchanged unless you advise us otherwise. A reminder notice will be sent to you at the end of each calendar year and at the close of each fiscal year.
What is the payment schedule?
Your gift will be deducted from your checking or savings account on or about the 25th of the months you designate. A debit will appear on your monthly bank statement indicating that this transfer has occurred.
Can I do a one-time transfer?
If you want to do a one-time Electronic Funds Transfer, simply select the same month/year for your first withdrawal as for your last withdrawal.
Do EFT gifts qualify for employer matching gifts?
Yes! Check with your employer regarding the company’s specific matching gift procedure for EFTs.
How is EFT a tool to reach various gift club levels?
| 12 monthly (June - May) deductions of | Gains membership in |
| $8.33 to $20.75 | Belwah Circle, annual gifts totaling $100-$249 |
| $20.83 to $41.58 | Blue Circle, annual gifts totaling $250-$499 |
| $41.67 to $83.25 | Gold Circle, annual gifts totaling $500-$999 |
| $83.33 to $208.25 | Chapin Society-Members Circle, gifts totaling $1,000-$2,499 |
For alumni of the classes of 1999-2008, the College offers special rates for Chapin Society Membership.
| Class Year | Chapin Society Membership | 12 monthly (June - May) deductions of |
| 2008 | $100 | $8.34 |
| 2007 | $200 | $16.67 |
| 2006 | $300 | $25 |
| 2005 | $400 | $33.34 |
| 1999-2004 | $500 | $41.67 |
May I change or cancel my EFT?
If you change banks or wish to adjust or cancel the amount of your gift, please email our Gift Processing Coordinator , or call 1-800-331-4943 or 608-363-2632. Unless specified otherwise, your gift will automatically be renewed each year. Please allow up to 10 days for changes or cancellations to be processed.