6 ms·
probably because your `Patreon_Old_Max_Fee` and `Patreon_Old_Min_Fee` are wrong. The portion taken has never been as low as 2% on a $1 pledge. From their old FA
by totallysafe 9y ago
probably because your `Patreon_Old_Max_Fee` and `Patreon_Old_Min_Fee` are wrong. The portion taken has never been as low as 2% on a $1 pledge. From their old FAQ: "Stripe charges 1.9% + $0.30 per transaction. PayPal charges 5% + $0.05 per transaction."
So, under the old fee system, for a $1 pledge, the service fee was either $0.32 for Stripe or $0.10 for PayPal. On a $10 pledge, it was $0.50 for Stripe and $0.55 for Paypal.
- rcthompson 9y agoI just went based on the information given in their blog post, which said "an additional third party processing fee that ranged from 2% – 10%". Edit: I'm not exactly sure how to calculate the fees based on the info in their FAQ. Taking Stripe as the example, they say the fees are 1.9% + $0.30 per transaction. So if I pledge $10, I guess that means that Patreon charges me an amount $X such that X * 1.019 + 0.3 = 10? And if so, do they take their own 5% cut out of $10 or out of $X? Edit 2: I took my best stab at it and replaced the min/max with specific entries for Stripe and Paypal.
- totallysafe 9y ago> I just went based on the information given in their blog post, which said "an additional third party processing fee that ranged from 2% – 10%". that's probably because the average pledge size is probably much closer to $10 than $1 > I'm not exactly sure how to calculate the fees based on the info in their FAQ... What you're guessing seems spot on. If you pledge $10 under the old system, then Patreon took a 5% cut of $10, and Stripe took 1.9%*$10 plus 30¢. So, the patron paid $10, Patreon got 50¢, Stripe got 49¢, and the creator got the remaining $9.01.
- rcthompson 9y agoThe average might be close to $10, but I'll bet the median pledge is much closer to $1.