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Post by utpea on Nov 5, 2017 1:59:20 GMT
I keep seeing people donating $109 on a gofundme type of account. Does anybody know what this odd number represents?
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likescarrots
Pearl Clutcher
Posts: 2,879 
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Post by likescarrots on Nov 5, 2017 2:08:33 GMT
It might be the exact amount where the fund gets $100 and the rest is some sort of fee?
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Post by revirdsuba99 on Nov 5, 2017 2:15:59 GMT
Right, fees...................
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Post by busy on Nov 5, 2017 2:40:35 GMT
Gofundme charges 5% in fees, so that doesn’t make sense for $109.
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Deleted
Posts: 0
May 18, 2024 3:45:22 GMT
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Post by Deleted on Nov 5, 2017 2:47:16 GMT
A personal campaign is 7.9% in the fees. So it looks like the $9 makes sure the person gets a $100 donation after the fees are paid. GoFundMe Platform 5% + Payment Processing 2.9% + $0.30 per donation = Total 7.9% + $0.30 per donation www.gofundme.com/pricingIf I want to give someone $100. The platform fee and payment processing is going to be 7.9% plus 1 "per donation" charges of .30. 8% of $100 is $7.90 plus .60 in "per donation" additions which comes out to $108.50. Round up .50 to make it easy to remember and to cover the extra % for the donation being more than $100. Or if I just give an even $100 the recipient is going to lose $8.50 on the fees so ends up with. $91.50-ish of my donation. eta: made a mistake. There is only one .30 per donation charge. But still.. over $8 fees for a $100 donation is a big chunk of a donation. |
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PrettyInPeank
Pearl Clutcher
Posts: 4,691
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Post by PrettyInPeank on Nov 5, 2017 2:58:41 GMT
Holy crap, they keep $8.50!!!
I would have thought .1% or something.
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Post by utpea on Nov 5, 2017 5:48:22 GMT
Looks like you all are correct. Fees. Thx! It was making crazy that I couldn’t figure it out.
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