Giving
Giving Questions
Can I give to my own account?
Yes. All members can make contributions to their own savings account.
Can I make automatic recurring contributions to a savings account through College Piggy?
Not yet, but soon. We are working toward adding this feature in the coming weeks. When we role this out all members registered through CollegePiggy.com will have the option to make automatic recurring contributions by simply choosing this option when making the contribution through the donate page.
Are there any processing fees for contributions made through CollegePiggy.com?
If you or a giving user uses a credit/ debit card when making a donation the merchant processor (i.e. VISA, Mastercard, Discover, or America Express) deducts a small percentage from the total contribution. In order to cover the charges billed to College Piggy from the credit card and payment processing companies fro each transaction, we will deduct this percentage from the total contribution.
If you are using our electronic check system to make contributions then a flat $0.95 will be taken out of each contribution to cover all ACH and other processing fees. Usually, the electronic check option is the most beneficial option for users giving over $30.00 in college savings contributions. We are always working with our vendors to provide us with lower processing fees in order to better serve our customers.
Does College Piggy earn revenue from contributions?
College does not profit from credit card or ACH processing fees taken from user contributions. We earn money through advertising sponsors and financial partnerships.
You will notice a fee from credit/ debit card merchant processors (i.e. VISA, Mastercard, and Discover), or an electronic check fee of $0.95 if you paid using a check. College Piggy is charged an ACh fee every time it sends your college savings contributions to your personal account. This fee is between $0.10 and $0.20 depending on the type of transaction.
College Piggy has a processing department that receives all contributions and makes individual bank transfers to the proper accounts that are in the College Piggy network. There is a cost for College Piggy to provide these and our many other industry leading services. Many times companies will hide their costs in other places in order to appear free, but they get their money from the consumer, the question is where? One of our company’s guiding principles is honesty. Always presenting our business, services, and fees is the most upfront and honest ways will ensure the longevity of our success and your membership on our network.
When does College Piggy send contributions to my savings account?
College Piggy processes separate ACH contributions transfers on the last Monday of every month except when Monday is a holiday then transfers will be sent the following business day. All members that have received a total of $50.00 or more during the month or have accumulated at least $50.00 in contributions will be included in the ACH deposit and account owners should notice the deposits in their savings accounts with in 5-7 business days following the transfer date, depending on the efficiency of the account owner’s financial institution or state 529 plan to recognize deposits.
Can I give to my own account?
Yes. All members can make contributions to their own savings account.
Can I make automatic recurring contributions to a savings account through College Piggy?
Not yet, but soon. We are working toward adding this feature in the coming weeks. When we role this out all members registered through CollegePiggy.com will have the option to make automatic recurring contributions by simply choosing this option when making the contribution through the donate page.
Are there any processing fees for contributions made through CollegePiggy.com?
If you or a giving user uses a credit/ debit card when making a donation the merchant processor (i.e. VISA, Mastercard, Discover, or America Express) deducts a small percentage from the total contribution. In order to cover the charges billed to College Piggy from the credit card and payment processing companies fro each transaction, we will deduct this percentage from the total contribution.
If you are using our electronic check system to make contributions then a flat $0.95 will be taken out of each contribution to cover all ACH and other processing fees. Usually, the electronic check option is the most beneficial option for users giving over $30.00 in college savings contributions. We are always working with our vendors to provide us with lower processing fees in order to better serve our customers.
Does College Piggy earn revenue from contributions?
College does not profit from credit card or ACH processing fees taken from user contributions. We earn money through advertising sponsors and financial partnerships.
You will notice a fee from credit/ debit card merchant processors (i.e. VISA, Mastercard, and Discover), or an electronic check fee of $0.95 if you paid using a check. College Piggy is charged an ACh fee every time it sends your college savings contributions to your personal account. This fee is between $0.10 and $0.20 depending on the type of transaction.
College Piggy has a processing department that receives all contributions and makes individual bank transfers to the proper accounts that are in the College Piggy network. There is a cost for College Piggy to provide these and our many other industry leading services. Many times companies will hide their costs in other places in order to appear free, but they get their money from the consumer, the question is where? One of our company’s guiding principles is honesty. Always presenting our business, services, and fees is the most upfront and honest ways will ensure the longevity of our success and your membership on our network.
When does College Piggy send contributions to my savings account?
College Piggy processes separate ACH contributions transfers on the last Monday of every month except when Monday is a holiday then transfers will be sent the following business day. All members that have received a total of $50.00 or more during the month or have accumulated at least $50.00 in contributions will be included in the ACH deposit and account owners should notice the deposits in their savings accounts with in 5-7 business days following the transfer date, depending on the efficiency of the account owner’s financial institution or state 529 plan to recognize deposits.
