How do Electronic Gift
Payments work?
The Electronic Gift Payment program is a pre-authorized electronic
transfer of funds similar to direct payment of loans or dues,
pay-by-phone, and other electronic banking services you've already
experienced. Electronic fund transfers reduce paper handling for
both you and the University.
Why does JMU recommend
this program?
In addition to the convenience to you, this plan eliminates costs
JMU otherwise would expend on pledge reminders, postage, and other
administrative details. It puts your gift to work faster and
easier.
How do I get started on
the program?
You simply need to complete an automatic bank draft authorization
form indicating
your desire to participate in the Electronic Gift Payment program.
Send your completed agreement to James Madison University, Development Operations,
MSC 2603, 500 Cardinal Drive, Harrisonburg, VA 22807-0002.
When will my gift be
transferred to the University?
Your monthly gift will be transferred to the University on or about
the 10th of each month. After we receive your authorization
agreement, your first Electronic Gift Payment will occur within
30-45 days. Fixed amounts may be given to the University for a
defined or indefinite period of time in the amount you
specify.
Must I notify the bank
each month of my intention to make a donation?
No, your bank automatically sends your gift directly from your bank
account to James Madison University's bank account.
What happens if I move
from city to city during this period?
Electronic Gift Payments are processed through the Federal Reserve
System so your location is not a concern. Simply complete a new
authorization agreement and send it in. If you prefer, you may call
the Development Office at 800-296-6162 to request that we send you
a new form.
Can my employer match my
Electronic Gift Payments?
Many companies encourage charitable giving by matching their
employees' contributions. To find out if your company matches
gifts, contact the company's human resources department. For
recognition purposes, you will be credited for your employer's
contribution.
What happens if I change
banks?
This is a very common occurrence and is handled simply by
completing a new authorization form and sending it to the
Development Operations with the updated information. This will
ensure that your Electronic Gift Payments continue without
interruption. If you prefer, you may call the Development Office at
800-296-6162 to request that we send you a new form.
Can more money be taken
from my account than I have authorized?
Absolutely not. Your Electronic Gift
Payments, as with any banking transaction, are regulated by federal
agencies. You designate the amount and frequency of the
transactions.
How do I know if my gift
is going to the designated recipient?
Your Electronic Fund Transfer is itemized on your bank account
statement each month, showing the date, the recipient (in this
case, James Madison University), and the amount. You will receive a receipt for each
Electronic Gift Payment from each area of the University to which
you have designated your gift.
What if I want to change
the amount of my gift?
This can be quickly accomplished by completing a new authorization
form, indicating the new amount on the form, and sending it to us
by mail. If you prefer, you may call the Development Office at
800-296-6162 to request that we send you a new form. For your
security, we cannot currently take changes online, by e-mail, or
over the telephone.
Is there a minimum amount
that I must give through the Electronic Fund Transfer
program?
No. We are grateful for your gifts in any amount, large or
small.
If I still have questions,
where can I get answers?
Contact our Development Operations Business Manager at
1-800-296-6162.