There is a chance that every now and then, you might come across posts or pages on Facebook in which it asks if you want to donate to a non-profit organization. Given how much time people spend on Facebook, it’s not surprising that charities and non-profits are using Facebook to reach out to the masses.
However as expected, whenever a donation is made, Facebook charges a small transaction fee of 5%. Transaction fees and administration fees are pretty common, but it can also hold some back from donating as they don’t like the idea that what they donate might not completely go to the charity, but Facebook is changing that as the company has announced that they will be eliminating transaction fees from donations made through its platform.
However it should be noted that the elimination of the transaction fee only applies to donations made to non-profit organizations. This means that if you’re looking to raise funds for something else completely, like a friend’s farewell party, medical bills for a family member, and so on, Facebook will still impose a 6.9% payment processing fee and will take 30 cents per donation.
In addition to announcing these changes, Facebook also revealed that they’ll be setting up a $50 million per year Facebook Donations fund. This will see Facebook match the donations on its platform to some causes, such as disaster relief.
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