Virgin Money Giving extends scheme for donors to cover fees
The fundraising service’s donors can already cover charities’ platform fees and from September will also be able to cover the payment processing fee.
Virgin Money Giving is to extend the option for donors to cover charities’ fees and to also include payment processing charges.
The move takes place from 1 September and will mean that anyone donating to the site can cover the payment processing fees as well as the platform fee on behalf of their chosen charity.
The move extends the current Donor Covers Fee initiative, which was introduced last year and has seen more than eight out of ten donors choose to cover the platform fee.
“The introduction of ‘Donor Covers Fee’ in 2018 has had a significant positive impact on the money charities receive through our platform, with 85% of donors choosing to cover our platform fee,” said Virgin Money Giving Executive Director Jo Barnett.
Card fees extention
“We are extending this donation to also cover our card fees meaning charities will benefit from an increase in donations if donors choose to cover the costs on the charities behalf.”
She added: “Whilst you can’t run a fundraising platform for free, you can run it without taking a profit so more goes to good causes. Over the past 18 months, we have re-engineered and enhanced the Virgin Money Giving donation experience to help charities maximise donations.”
From September donors making a £10 donation can pay the combined fee of 45p, including 20p platform fee and the 25 payment processing fee. This means that the charity will receive all of the donation, totalling £12.50 once Gift Aid is added.
More than 15,000 charities have registered with Virgin Money Giving since its launch, in 2009. By 2018 over £700 million has been donated to charities.