Is GoFundMe free to use?
Yes, starting a GoFundMe campaign is free. You can create a fundraising page, share it with your friends, family, and social media networks, and start raising money without any upfront costs.
Does GoFundMe charge any fees?
While starting a campaign is free, GoFundMe does deduct a fee from each donation. This fee is used to cover their own operational costs and ensure the platform’s sustainability.
What are the fees charged by GoFundMe?
GoFundMe charges a platform fee of 2.9% plus $0.30 per donation. This fee covers the payment processing costs, including credit card fees and secure transfers.
Does the platform fee apply to all donations?
Yes, the platform fee is deducted from every donation made through the GoFundMe platform. However, it does not apply to charitable organizations. Instead, they have different pricing structures under GoFundMe Charity.
Are there any additional fees on top of the platform fee?
GoFundMe also offers optional features and services that users can choose to enhance their campaigns. These features come at an additional cost. For example, there may be fees for personal fundraising coaches, marketing assistance, and priority customer support.
Are there any platform fee reductions or exceptions?
In some cases, GoFundMe may waive the platform fee for certain types of campaigns. They have a dedicated program called the “GoFundMe COVID-19 Small Business Relief Initiative,” which offers fee relief to small businesses impacted by the pandemic.
How are the fees calculated and deducted?
When someone makes a donation to your GoFundMe campaign, the platform fee (2.9% + $0.30) is automatically deducted from the total amount received. For example, if someone donates $100 to your campaign, GoFundMe will deduct $2.90 (the 2.9% fee) plus $0.30 as the payment processing fee, leaving you with $96.80.
Can donors cover the fees so the campaigners receive the full amount?
Yes, GoFundMe provides an option for donors to cover the fees on behalf of the campaigner. This allows the full donated amount to go towards the cause without any deductions.
Are there any fees for withdrawing the funds?
GoFundMe does not charge any fees for withdrawing funds from your campaign. However, keep in mind that there might be standard payment processing fees by the financial institution used to receive the funds, such as bank transfer charges.
GoFundMe offers a straightforward and user-friendly platform to raise funds for various causes. While the services it provides are free to initiate, the platform charges a 2.9% fee plus $0.30 per donation to cover operational costs. Additionally, there are optional features and services available at additional costs. By understanding these fees, both campaigners and donors can make informed decisions when utilizing GoFundMe for their fundraising efforts.