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| Most efficient way to donate to LDDB? https://forum.lddb.com/viewtopic.php?f=8&t=9523 |
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| Author: | invenio [ 13 Dec 2020, 01:25 ] |
| Post subject: | Most efficient way to donate to LDDB? |
I try to donate a little every year to LDDB to show my support of the community and Julien. However, it seems like paypal has been getting bothersome with its fees. I think last year it wanted to take close to a 30% cut of the donated amount. This year I wanted to give $10 and it either wants a $1 (10%) fee if sending it as a friend or no fee if billed as a purchase. However, I don't know what percentage will be taken on the LDDB side if it is done this way? I'm in the US. I also don't have bitcoin and the most popular online payment method in the US is paypal. So my questions is, what truly is the best way for people from the US to donate (presuming that is the country where the highest number of users preside? Thanks. Also, if there is a clear answer, perhaps the donate page could be updated with the ideal paypal payment instructions (it is rather out of date and the screenshots no longer match the current paypal interface)? And thank you for all your time and effort, Julien! |
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| Author: | admin [ 14 Dec 2020, 11:09 ] |
| Post subject: | Re: Most efficient way to donate to LDDB? |
Hello! Unless you're using a Canada PayPal account (for which the friends/family fees should still be 0), they will charge a lot. Easiest is still to send a donation directly to 'support -at- lddb -dot- com'. PayPal charges from 3.7% to 3.9% (+$0.30). I could never find out why sometimes it's 3.7% and some other times 3.9%. I always remove the PayPal fees from the total donations graphs to calculate the real net amount. Julien |
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| Author: | invenio [ 14 Dec 2020, 17:57 ] |
| Post subject: | Re: Most efficient way to donate to LDDB? |
So I should send it as a goods payment to get the 3.X% + $0.30 vs a family/friend transfer which seems to charge a flat $0.99 fee (for a $10 gift)? |
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| Author: | admin [ 15 Dec 2020, 11:12 ] |
| Post subject: | Re: Most efficient way to donate to LDDB? |
invenio wrote: So I should send it as a goods payment to get the 3.X% + $0.30 vs a family/friend transfer which seems to charge a flat $0.99 fee (for a $10 gift)? That would be $0.69 as good vs. $0.99 for F&F. Last time I checked it was $2.99 for F&F, they changed that recently? It might be the Paypal fees for F&F from USA to Canada. Julien |
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| Author: | invenio [ 15 Dec 2020, 14:13 ] |
| Post subject: | Re: Most efficient way to donate to LDDB? |
Currently, if I want to send $10 and put in this amount with your contact it says this: For Goods/services: $10 For Friend/Family: $10 + $0.99 (paypal fee) = $10.99 So sending via friend/family puts on a 99 cent fee on my end but I presume you will get the full $10. For goods and services it only charges me $10 but I presume that there will be a fee on your end. I suppose my question is which side is the fee higher as that would be the most efficient way to send the funds (I presume most people would want paypal to get the smallest cut of the transaction)? |
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| Author: | rein-o [ 15 Dec 2020, 16:32 ] |
| Post subject: | Re: Most efficient way to donate to LDDB? |
For paypal I think its the same, one side will be paying that 99 cents. There are other sites but I don't use them, and don't know fees. |
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| Author: | invenio [ 15 Dec 2020, 18:12 ] |
| Post subject: | Re: Most efficient way to donate to LDDB? |
I don't think the fee structure is the same for goods vs friends money transfers. What complicates matters in this case is the foreign transaction. If it was domestic (within the US), there would be zero fees with a family/friends transfer. |
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| Author: | rein-o [ 15 Dec 2020, 18:14 ] |
| Post subject: | Re: Most efficient way to donate to LDDB? |
? I thought I tried to send some family money a few weeks ago and paypal was going to charge me the 2.% Paypal has changed a lot in the last few years and its hard to keep up with what they do. |
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| Author: | invenio [ 15 Dec 2020, 18:15 ] |
| Post subject: | Re: Most efficient way to donate to LDDB? |
No charge for paypal (presuming it's transferred from bank account and not a credit card) to family and friends within the US. I do this twice a month with family members for shared bills. |
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| Author: | invenio [ 02 Jan 2022, 19:21 ] |
| Post subject: | Re: Most efficient way to donate to LDDB? |
Paypal takes ridiculous fees, especially for foreign merchants and I think LDDB is considered that from paypal's view. They no longer even support sending money as a "friend/family" via the link on the donate page on LDDB. I try to donate every year and I don't want paypal taking a 1/3rd of it. I noticed that Transferwise is on the Donate page. This would most likely be a payment method with less fees taken off vs going with paypal. Julien, Is there a way to set up donations to you via Transferwise as I have an account with them already? |
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| Author: | audioboyz1973 [ 08 Mar 2022, 16:54 ] |
| Post subject: | Re: Most efficient way to donate to LDDB? |
invenio wrote: Paypal takes ridiculous fees, especially for foreign merchants and I think LDDB is considered that from paypal's view. They no longer even support sending money as a "friend/family" via the link on the donate page on LDDB. I try to donate every year and I don't want paypal taking a 1/3rd of it. I noticed that Transferwise is on the Donate page. This would most likely be a payment method with less fees taken off vs going with paypal. Julien, Is there a way to set up donations to you via Transferwise as I have an account with them already? Same |
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| Author: | invenio [ 08 Mar 2022, 17:08 ] |
| Post subject: | Re: Most efficient way to donate to LDDB? |
I was able to get transferwise setup and donated to LDDB. The fees were significantly less than paypal so maybe that should be on the donations page with instructions? |
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| Author: | admin [ 09 Mar 2022, 06:46 ] |
| Post subject: | Re: Most efficient way to donate to LDDB? |
invenio wrote: I was able to get transferwise setup and donated to LDDB. The fees were significantly less than paypal so maybe that should be on the donations page with instructions? Yes, I had 2 successful payments so far with WISE. It is a viable option now! (and will cost less in FX conversion as well) Julien |
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| Author: | invenio [ 09 Mar 2022, 12:43 ] |
| Post subject: | Re: Most efficient way to donate to LDDB? |
A lot of people who live or send money to foreign countries use Wise so this may be a better option for donations for many. It really doesn't display very prominently in the donate page and still has the old "transferwise" labeling logo. They rebranded to WISE awhile back so no longer going by "transferwise". I think the donate page could use a little update,... even the paypal styling in the screenshots have not looked like that in probably over half a decade! 
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