Project owners

Project owners

Our top six questions from project owners

1. What are your fees and when am I charged?

Crowdfunder fee

Crowdfunder's mission is to tackle society's challenges through crowdfunding and to help us achieve that, we have a variable fees model. 

That means the fee we charge depends on the type of project you need to run to raise money for.

Any fee we do charge helps us to improve our website for our community, adding new features to give people the best possible chance of making their ideas happen. 

It also helps us to increase its performance so that it provides the best possible platform for crowdfunding great ideas.

Personal and charity crowdfunding (0% fee)

More and more people are now turning to Crowdfunder to quickly raise some money for good – but maybe unexpected – causes. We DO NOT charge a fee for projects run by individuals for personal or charitable causes.  Things such as medical, funeral, education or veterinary bills are good examples of personal crowdfunding projects. We do not charge a fee for projects that are run by individuals for non-profit or charitable reasons, either. Instead, we give an option for your supporters to donate a little extra when they pledge.

Rewards crowdfunding (3% fee)

We charge a 3% fee plus VAT for projects run by individuals or organisations to make their ideas happen. Projects on Crowdfunder come in all shapes and sizes but whether you're working alone or part of a start-up, social enterprise, charity, non-profit community group, this is the route for you. We also leave an option for your supporters to leave an extra donation when they pledge which we invest back into the platform to help us with our mission to make great ideas happen across the UK.

Big impact crowdfunding (3% fee)

If you're someone looking to make a big impact through crowdfunding, and need more than £50,000 to make your idea happen then get in touch. We're invested in your success so we will dedicate one of our expert coaches to support your project and charge a 3% fee plus VAT. Your supporters will have an option when they pledge their support to leave an extra donation which we invest back into our mission to make great ideas happen across the UK.

Transaction fees

Our payment providers apply an additional fee of 1.67% on what you raise, plus 25p and VAT on each pledge made on your project. 

If you added your project after Tuesday, October 9, 2018 with 3% fees

  • Someone pledges £100 on your project
  • Crowdfunder's fee is £3 plus VAT (so £3.60)
  • Our payment provider’s fee is £1.67 plus 25p
  • And VAT is added to the payment fees at 38p
A total of £5.90 would be charged for a pledge of £100 on your project, so you would receive £94.10.

When pledges are made on non-EU cards (i.e. a pledge from the US), the payment provider's fee would be 3.25%, plus 25p and VAT on each pledge.

Therefore £7.80 would be taken for a pledge of £100 in this instance, so you would receive £92.20.

If you added your project before Tuesday, October 9, 2018 with 5% fees

  • Someone pledges £100 on your project
  • Crowdfunder's fee is £5 plus VAT (so £6)
  • Our payment provider’s fee is £1.67 plus 25p
  • And VAT is added to the payment fees at 38p

A total of £8.30 would be charged for a pledge of £100 on your project, so you would receive £91.70.

When pledges are made on non-EU cards (i.e. a pledge from the US), the payment provider's fee would be 3.25%, plus 25p and VAT on each pledge. 

Therefore £10.20 would be taken for a pledge of £100 in this instance.

2. When do I receive my pledges?

You will receive your pledge payments once your project has closed successfully. With ‘All or nothing’ funding, a project is only successful if it hits target. With ‘Keep what you raise’, all projects that raise any funds are considered successful. 

Project supporters will be charged at the time of making their pledge and the funds will then be transferred to the project owner once the project closes successfully. Payments will be transferred into your bank account within 7 working days after the project has closed. 

However, your money will only be transferred if you have successfully verified your ID against your bank account details. After the ID has been successfully verified, it will take 7 working days from when the ID was verified (which could be after the closing date of the project if you leave it too late!) for the money to reach you. You can check to see if your ID has been successfully verified from the dashboard when editing your project.

3. What are the different funding methods available?

There are two different funding methods for Crowdfunder projects.

All or Nothing – You only receive your pledges if you hit your target. This is best suited for projects that need to reach a set target to be able to carry out their aims. The average pledge size on 'All or nothing' projects is £50.

Keep what you raise – Keep all your pledges, whether your projects hits target or not. This is best suited for causes or charitable projects. The average pledge size on 'Keep what you raise' projects is £10. 

'All or nothing' projects generally raise more money, but you do have to hit your target. 'Keep what you raise' means you’ll keep all the money pledged by your supporters, but you’ll also have to fulfil all the rewards no matter how much or little is pledged.

4. What happens if I don't reach my project target?

All or Nothing – If you don't hit your project target, the money pledged will be refunded to your supporters. Your supporters will receive an email informing them that the project has not reached its target and that they will receive this refund. You will not be charged any fees if an 'All or nothing' project does not reach target.

Keep what you raise – You will receive any funds pledged on your project regardless of whether you reach your target or not. Your supporters will receive an email informing them that the project has closed. 

5. How long can I run my project for?

The longest a project can run for is 8 weeks (56 days). However, we believe that the optimal duration for a crowdfunding project is 4 weeks (28 days). There is always a spike of activity at the beginning and end of a project, so keeping a project relatively short allows you to keep the momentum going. 

6. 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...

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!

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!

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 the pledge. If the project is unsuccessful they will receive a refund within 5 days of the project closing. 

Can't find the answer you're looking for? We also have our Help Centre jam packed with lots of useful information.

Need more help?

Don't worry. We're here every step of the way. 

Drop us a line

At support@crowdfunder.co.uk.

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