LET’S BE HONEST.
On successfully funded posts, there is a 5% platform fee on the total amount targeted, plus third-party payment gateway costs and a transaction cost. Once you have met your target amount within the stipulated time, the funds will be transferred to you after the fee is deducted. The fee will not be charged to the donors, i.e., the costs incurred are deducted from what the creator receives and are not charged in addition to what a donor pledges.
5% platform fee + 1.75% Stripe Fee + AUD 30c transaction fee
5% platform fee + 2.9% Stripe Fee + AUD 30c transaction fee
Here’s a hint!
If you want to raise $2000 AUD for your venture, include the administrative fee in the amount targeted.
You can then crowdfund for $2100 AUD so you don’t have to pay the fee from the amount you need to help fund your venture.
WHAT HAPPENS IF YOU DO NOT MEET YOUR TARGET?
If your venture has not met its target amount by the stipulated date, there are two options.
Extending your venture as a one-off for a period of 30 days will incur an additional fee of 3% of your targeted funds. The funds collected prior to your extension will continue to be held until the end of the extended period. After you reach your targeted crowdfunding amount, the funds will be transferred to you minus the fee. If funds have not been met after the extension, the venture will be discontinued.
EXTENDED PAYMENT STRUCTURE
Domestic and International cards:
8% platform fee + (1.75% or 2.9%) Stripe Fee + AUD 30c transaction fee
You can discontinue your venture free of charge, anytime. All the funds raised will be returned to the donors minus the third-party payment gateway and transaction costs.
We’ll be sad to see you go!