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What is the fee? 5% or 10% ?
exstral
Posted on November 18, 2020
At the top of your page it says that your fee is 5%, but in the about section, it says there is a 10% administration fee + credit card fees.
Which one is correct?
Which one is correct?
Jean-François De Hertogh
Posted on November 19, 2020
Hello,
There is a host fee of 5% on each incoming donation. The host is open collective Europe (a non profit organization that is registered in Belgium).
In addition, there is a 5% platform fee that the software open collective takes on every online payment (mastercard or visa).
- if you use wire transfer (bank transfers) to receive funds it's 5% host fee
- If you use online payment to receive funds, it's 5% host fee + 5% platform fee
Thorbjørn Lindeijer
Posted on December 1, 2020
If I understand recent news correctly, the 5% platform fee will go away on 15th of December, meaning hosted collectives would be left with just the 5% host fee + payment processor fees?
Jean-François De Hertogh
Posted on December 1, 2020
This has yet to be discussed with the open collective team. We will update everyone when a decision is made on this matter. Feel free to have a look at the current pricing of other hosts across the globe and let me know what system looks ideal to you.
https://app.gitbook.com/@opencollective/s/open-collective-foundation/faqs/fiscal-hosting-faqs
https://app.gitbook.com/@opencollective/s/open-collective-foundation/faqs/fiscal-hosting-faqs
exstral
Posted on December 1, 2020
Thank you for the detailed answer before. That clarified the current state for me :)
Exciting news. Where did you read that they will drop the platform fee?
Exciting news. Where did you read that they will drop the platform fee?
Thorbjørn Lindeijer
Posted on December 1, 2020
@Jean Thanks for the quick response! Unfortunately, your link is broken for me. Personally I think a minimum host fee (so probably 5%) would be ideal since it makes OpenCollective competitive to other funding platforms and it keeps the barrier to use OpenCollective as low as possible (so far I haven't started to use it much since losing 10% of income was prohibitively expensive).
@exstral Apparently this wasn't posted yet in the online news, but an email went out to all Fiscal Hosts (which I was for my own project) with this announcement.
@exstral Apparently this wasn't posted yet in the online news, but an email went out to all Fiscal Hosts (which I was for my own project) with this announcement.
