Creating a crowdfunding page or registering a charity on BackaBuddy is free. BackaBuddy is a registered Non-Profit Company and a 4% administration cost + VAT = 4.6% is charged on all funds raised through the platform by registered Non Profit Organisations.
For individuals raising funds on the platform who are not linked to a registered non profit organisation, an administrative cost of 5% + VAT = 5.75% is charged
This covers the costs of the platform build and maintenance of the platform.
The transaction fee covers the cost of the financial services we provide. Including, the banking & payment gateway fees, the vetting of the campaigns and the post campaign administration and tracking of campaigns. Donors are given the choice of cover this fee and the majority of donors choose to do so.
- Debit/Credit Card – 5%
- iPay – 5%
- PayPal – 5.5%
- EFT R12 Flat Rate
BackaBuddy has implemented a system whereby donors can opt to cover these bank fees and approximately 78% of donors choose to do so.
Funds are collected from the 1st – 30th of each month and paid out to the respective organisations on the 10th of the following month.