4 ms·

FIY: That's 3.8% assuming everybody donated by credit card. Anybody got an idea why they pay so much?

• ceejayoz 12y ago
  2.9% is fairly standard with Stripe et. al., but fees from things like chargebacks could probably add up to another 1%.
• anebg 12y ago
  Typical credit card fees are 2.9% + 30c. Assuming that they have regular fees at not non-profit rates(which tend to be lower), it would make their average donation amount to be around $7.14 Source: 48995/689239 = (x*.029+.30)/x
  • TheSilentMan 12y ago
    With that many transactions they should be able to negotiate a lower fee than that. My company did a bit over 4 million in CC transactions last year and our rate is 1.9% and I believe the flat rate per transaction is 25 cents.
  • daveloyall 12y ago
    That's in the ballpark for monthly membership fees. ~$10/month.
• Torgo 12y ago
  Maybe it includes unfavorable (normal for credit card xactions) exchange rate conversions?
  • detaro 12y ago
    Aren't these generally dumped on the person paying?
  • ars 12y ago
    My understanding is that credit cards give you the best exchange rates available at retail. Some banks do tack on a foreign transaction fee though, but that goes on the payer.
• jimktrains2 12y ago
  As someone else pointed out 2.75%-2.9% is common, often thre is a charge per transaction too (on the order of 25cents after it's all said and done). The fee can change based on the card type (the merchant pays a higher fee on rewards cards normally...someone has to pay for rewards!) and international purchases can have additional fees. Charges backs can also bump up fees, ditto for outsourced fraud protection.