New Payment Options & Charges
Cashless System Implementation 2016
A discussion took place with the Kingston Toy Library committee in relation to cash handling policies and how to increase the ease of transactions for members and staff, as well as for the finance committee members who volunteer their time to manage the funds. A decision was made to move to a cashless system to improve the efficiency of the Toy Library and this system will be implemented in January 2016.
Bank & Credit Card Fee Implementation 2016
As a not-for-profit organisation, the Kingston Toy Library needs funds in order to pay for operational costs. One of these operational costs is the EFTPOS and credit card system which we use to offer members a user-friendly service. Unfortunately this service isn’t free and the costs for this facility continue to increase each year with the frequency of card based transactions. As such, the committee has decided that members will incur the transactional fee we are charged by the banks per transaction when a card is being used (which is only part of the cost that we pay for the service).
What does this mean?
We will no longer be accepting cash for transactions beginning January 2016.
The following payment options will be available:
- Card payments will incur a 1.5% fee. This is the fee the banks charge per transaction. This is not to make profit, but instead to avoid extra costs to the Toy Library.
- Electronic Bank Transfer. This is your no-fee option and details will be provided to you should you choose to use Bank Transfer.
The Committee appreciates your understanding and would be happy to hear your feedback and suggestions.
The Kingston Toy Library Committee