Virgin Money Giving lets donors cover platform fees
The move gives donors the opportunity to cover the 2% charge charities pay to use the fundraising platform.
Virgin Money Giving has changed its fee structure to give donors the chance to cover its 2% platform fee.
The non-profit fundraising platform’s ‘donor covers fee’ feature allows donors to cover the fee it charges to charities to use the site.
Initially this will be available to the platform’s ten major charity partners and will be rolled out for all its charity partners by the end of 2018.
“As a not-for-profit business, backed by Virgin Money, our low charges mean we don’t make a profit from the generosity of charity supporters,” said Jo Barnett, Virgin Money Giving Executive Director.
“Our fees only cover the cost of running our business. Our ‘Donor Covers Fee’ feature will give fundraisers the option to pay our fee on behalf of charities, which will mean that even more money goes to those charities.
“Donors can be sure that the fee they pay for using Virgin Money Giving only covers our costs, unlike other fundraising sites, who profit from the fees they charge.
“In addition, we don’t charge a fee on the Gift Aid collected on behalf of charities as we strongly believe that 100 per cent of Gift Aid should reach the charities.”
Virgin Money Giving signs up to Fundraising Regulator’s code
Virgin Money Giving has also announced it is signing up to the Fundraising Regulator’s Code of Fundraising Practice.
“We are delighted to become one of the first major fundraising platforms to sign up to the Fundraising Code of Practice,” said Barnett.
“We believe it is an important commitment at a time when the sector is being scrutinised and some practices are being called into question.
“As one of the leading brands in the sector, it is important to take the lead and make sure that charities and fundraisers understand our commitment to continue to operate at the highest standards.”
Fundraising Regulator Gerald Oppenheim added: “The purpose of the new Code and guidance for fundraising platforms is to ensure they work to the highest fundraising standards and make sure the public are clear about where their donation is going.”
“By confirming that it intends to sign up to the Fundraising Code, Virgin Money Giving is sending a powerful message to both fundraisers and donors about its commitment to good fundraising and operating to the highest standards.”