Electronic Funds Transfer (EFT) Guide - Blackbaud, Inc.

10 C HAPTERBlackbaud Merchant Services. You can use Blackbaud Merchant Services as your authorization service toautomatically process credit card transactions through Batch.Blackbaud Payment Service. To help you comply with Payment Card Industry Data Security Standards (PCIDSS), The Raiser’s Edge uses the Blackbaud Payment Service to securely store sensitive credit cardinformation. When you process credit card transactions, The Raiser’s Edge uses reference IDs generated bythe Blackbaud Payment Service in the place of credit card numbers in the transmission files. When you submitthe transmission files to your authorization service, the Blackbaud Payment Service securely replaces thereference IDs with the corresponding credit card numbers and sends the file to your authorization service forprocessing.Direct debit. Direct debit is an electronic payment method. When you use the Automatically GenerateTransactions/Payments menu option in a batch, EFT? must be marked on the gift record to include electronicpayments of direct debit. You can create a direct debit transmission file of your direct debit gifts to yourorganization’s sponsoring bank or IATS for processing.EFT. EFT stands for Electronic Funds Transfer and is a general banking system by which transactions, such asdeposits or bill payments, are made electronically from a donor’s bank account to your bank account. InThe Raiser’s Edge, EFT also refers to credit card transactions.Electronic payment method. Through Batch, if you choose an electronic payment method when using theAutomatically Generate Transactions/Payments menu option, a constituent’s money can transfer to yourorganization without using paper or hard currency.Note: To use Electronic Funds Transfer to transfer funds electronically, you must mark EFT? on the Gift tab of agift record for pledges and recurring gifts.A payment method becomes electronic when you select Direct Debit or Credit Card in the Pay method fieldon a gift record, mark EFT?, and use Electronic Funds Transfer to receive the funds.Financial processing date. The financial processing date is the date your sponsoring bank or IATS processes thetransactions in the direct debit transmission file. This date must be a normal business day that is not abanking holiday. You should set the financial processing date between one and five days after you generatethe transmission file. For example, if you generate a direct debit transmission file on Monday, April 11, 2011,you may want to use a financial processing date of Friday, April 15, 2011. The specific requirements for thefinancial processing date vary between financial institutions. For information about financial processing dates,contact your sponsoring bank or IATS.IATS. IATS stands for International Automated Ticket Systems. You can use IATS to automatically authorize andprocess direct debit and credit card transactions through Batch.Note: Effective July 15, 2011, The Raiser’s Edge no longer supports ICVerify.ICVerify. ICVerify is third-party software you can purchase to automatically authorize credit card transmission filesin Batch. To authorize credit card transactions in The Raiser’s Edge, you can use ICVerify as your credit cardprocessing agency.Non-electronic payment method. Through Batch, if you select a non-electronic payment method when using theAutomatically Generate Transactions/Payments menu option, a constituent’s money must transfer to yourorganization using paper, such as hard currency or a personal or business check. The non-electronic paymentmethods available in The Raiser’s Edge are Cash, Personal Check, Business Check, and Other.Note: If you process your direct debit transactions through IATS, do not send prenotifications. IATS does notprocess prenotifications.