Total fees are 8%
The total fee for using Crowdfunder.co.uk is 8%. This will be collected from your funding total and will already have been taken by the time the funds arrive in your account.
If you want to know the maths, this breaks down to 5% for our Crowdfunder fee, a 1.67% payment processing fee and VAT.
If your project does not collect any money, then you will not be charged any fees.
Crowdfunder’s fee allows us to continue working with projects to make their ideas happen.
Has your payment system changed?
At the beginning of 2018, we updated our payment system. So if you have crowdfunded with us before, things might be a little different. The great news is that these changes will make your crowdfunding experience much smoother.
The main changes are:
1. The fee structure has been simplified - The Crowdfunder fee of 5% is exactly the same. However, the previous payment provider fees of 1.4% + 20p per pledge is now a flat rate of 1.67%. Much easier to calculate we think! With the Crowdfunder fee, VAT and the payment provider fee included, this all rounds out at 8%.
2. No more failed payments - On the old system, there was the chance of payments failing when the project closed but now this cannot happen. Hurray!
3. You will not need a Stripe account to collect your money - The money simply goes straight to the bank account that you add to the project. Simple.
4. Supporters are charged at the time of making a pledge - On the previous system, supporters were charged when the project closed. With this new system, they are charged at the point that they make their pledge. If the project is unsuccessful then they will receive a refund within 5 days of the project closing.