Press coverage of Donald Trump’s foray into crowdfunding with FundAnything has said Trump wants to open crowdfunding up to the masses. Which got us thinking about which crowdfunding sites have the most favorable terms for users.
Kickstarter takes a 5 percent cut from successful campaigns. (Campaigns that don’t reach their goal receive nothing.) The site’s payment processor is Amazon Payments, which charges 2 percent plus $0.05 per transaction for bank account debits, 2.9 percent plus $0.30 for credit card transactions above $10 and 5 percent plus $0.05 for transactions below $10.
Most of the crowdfunding sites that have followed in Kickstarter’s shoes have set similar fees, but Trump’s FundAnything and IndieGoGo also offer a twist on the “tipping point model.” They offer a 9 percent fee for projects that don’t reach their goals.
FundAnything charges 5 percent on successful campaigns, while IndieGoGo takes just 4 percent. Both also involve payment processing fees of about 3 percent.
GoFundMe charges 5 percent on all payments collected. The service works with PayPal or WePay, both of which charge approximately 3 percent to process payments.
Fundly’s individual plan takes a 4.9 percent fee plus a 3 percent credit card processing fee.
CrowdTilt appears to offer the best terms: a 2.5 percent cut from campaign that reach their goals. Campaign contributors also pay a credit card processing fee of 2.5 percent.
For those willing to take contributions in Bitcoin, there’s also Coinfunder, which takes a 5 percent cut of successful campaigns with no payment processing fees.