Contract Terms Overview
As of now, detailed information about the current Greater Giving contract terms remains undisclosed on the company’s website. Insights into the company’s pricing structure are scarce, with a 2010 forum post shedding light on previous contract terms for auction-oriented services. These figures, potentially outdated or specific to certain clients, indicated various pricing for event suite packages and payment services with differing terms and fees.
Event Service Fees
For events, Greater Giving historically applied a service fee scaled with the event’s total approved charges, incorporating a tiered fee structure based on the amount processed. This fee structure aimed to accommodate various event sizes, offering terminal support as needed.
2010 Credit Card Processing Fees
The past contract outlined specific credit card processing fees for different card types under event payment services and online payment services. These fees were designed to cover the costs of transaction processing, adding to the total service fees.
Contract Renewal and Termination
References suggest an automatically renewing contract, either one-year or five-year, with a liquidated damages-style early termination fee calculated based on the remaining annual costs and contract duration. These terms, especially the long-term commitments and potentially high combined costs, may not align with the most competitive offerings in the industry.
Contract Feedback
The scarcity of recent detailed pricing or contract terms from Greater Giving leads to a preliminary assessment grade of “C”. While only a few complaints cite excessive fees, the lack of transparency and potential for lengthy contracts raise concerns regarding competitiveness with leading merchant account providers.
For more insights into competitive pricing and contract terms, merchants are encouraged to review our recommendations for thebest merchant account providers.
