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Tags charity issues , credit card , fees , paypal

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Old 7th January 2017, 01:41 PM   #1
Eligbak
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Cool Best way to donate to Skeptoid (via the internet)

Which payment service charges the lowest fees, payer & receipient combined? I'm undecided between Paypal and credit card (Stripe).

One or more donations - either a monthly 5 Dollars/Euros/raisins, or a yearly 120 Dollars/Euros/raisins - are meant to go from Germany to the US.

Maybe some knowledgeable person could improve upon these numbers?

Paypal: 1.4% + 20p per donation for registered charities, no fees for sender
(https://www.paypal.com/charities/)
Plus likely fees for currency conversion and "international transactions", I haven't figured out the amount conclusively.
Is Skeptoid eligible for Paypal charity rates?

Credit card/Stripe: single flat rate of 2.4% +20p per transaction, no currency conversion fees.
(source: http://www.tictocdigital.co.uk/lates...eways-compared, April 2016)
My bank charges me 1,8% for international payments/currency conversion.
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Old 8th January 2017, 12:24 PM   #2
Brian Dunning
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Since Skeptoid Media is a nonprofit, it's a little different for us than for most other shows.

Overall, using your credit card directly at Skeptoid.com is a lot cheaper than using PayPal. A big reason for this is that Stripe (a popular and modern merchant card processor, and the one we use) charges nonprofits NO FEES AT ALL on the first $15K each year!

For small amounts, PayPal is a little bit cheaper. Here is a fee comparison for a $5 donation:
PayPal: .30-.35 (different for international)
Stripe: .41
(But keep in mind that for a giant chunk of those, the fee is 0.00, so that more than makes up for the difference.)

The higher the amount, the more expensive PayPal gets. For a $20 donation:
PayPal: 1.05-1.25
Stripe: .74

And for a $100 donation:
PayPal: 5.05-6.05
Stripe: 2.50

Of equal concern is the problems that both I and donors have always had with PayPal. PayPal loves to terminate recurring payments for no apparent reason and without notifying either party. Skeptoid communicates with PayPal via their API which is fraught with bugs. Also, Skeptoid has no visibility into recurring donations that people may have set up, so it's really hard to show people their donor profile on the Members Portal. Credit card donations are managed 100% internally by Skeptoid Media, so we know exactly how many people have subscriptions set up and can project next month's operating budget.

So, PayPal is not only more expensive, it just makes everything harder.

The worst is Patreon, I have no idea why anyone uses them. They are a completely unnecessary middleman that exists only to swipe 5% of the revenue from people whose transaction doesn't even concern them. They do not work with charitable donations at all, so when someone tries to donate to Skeptoid Media through Patreon, it turns out to be non-deductible for the donor, and an accounting problem for Skeptoid.

Cheapest of all, of course, is to send a paper check. You can't beat zero transaction fees. (Except for overseas donors, of course.)

Bottom line: It's best to use your credit card directly, and don't send part of your donation to some third party. :-)

Last edited by Brian Dunning; 8th January 2017 at 12:26 PM.
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Old 9th January 2017, 11:11 PM   #3
The Central Scrutinizer
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Consider criminal history.
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Lupus is Lupus tor central scrutineezer
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Old 15th January 2017, 07:02 PM   #4
Brian Dunning
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While I understand that it may feel empowering to post something like this, it doesn't make much sense. If you have any questions I am happy to answer them, brian@skeptoid.com or call me at 949-510-9681. The directors of Skeptoid Media also make themselves available via their contact information on the skeptoid.org website.
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Old 24th January 2017, 10:40 PM   #5
mike3
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(rm)
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“Ego is subversive and devolutionary, truly destructive and terrible; ego is the generator of privilege, established institutions, and comfortable habit. Ego is the fire that burns within the pit of hell, devouring and consuming everything that enters and leaving utterly nothing behind. Ego is horrible, cruel, and restraining, the darkness of the world, and the doom and bane of man.” – my reaction to that famous Bertrand Russell quote.

Last edited by mike3; 24th January 2017 at 10:51 PM.
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Old 25th January 2017, 09:49 AM   #6
CriticalThanking
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Originally Posted by The Central Scrutinizer View Post
Consider criminal history.
I thought you got deferred adjudication, Scrut.
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