What is GoFundMe?
GoFundMe is an American commercial crowdfunding platform that enables people to raise money for projects ranging from celebrations to challenging circumstances such as accidents and illness.
GoFundMe tells their website visitors they are free. But does Go Fund Me take a cut? And if so, how much does GoFundMe Take? Go Fund Me charges 2.9% + €0.25 per transaction for the costs of Credit Card and iDEAL. There are no other GoFundMe fees. They only ask the donor to contribute to the platform. This contribution is set at 15% by default but can be adjusted to 0%. It is therefore up to the donor himself whether or not to tip.
Is GoFundMe tax deductible? If the gift does not exceed €2,244 (temporarily €3,244 per donor in 2021), the recipient of the gift does not have to pay gift tax. You can donate € 5,604 (temporarily € 6,604 in 2021) tax-free for gifts from close relatives. With crowdfunding, you can safely raise €100,000 without paying gift tax, as long as your donation is less than €2,244 per donor (temporarily €3,244 in 2021). If more donations are made for each donor, a 30% gift tax will be paid on donations up to €124,726. Gifts above this amount are subject to a gift tax of 40%. Such gifts are extremely rare in crowdfunding campaigns.
GoFundMe is a popular donation platform in America and scores well on several review websites. For example, on Trustpilot an average score of 4.5 stars out of 5 with over 9000 GoFundMe reviews and on ConstumerAffairs an average score of 3.3 stars out of 5 with over 300 reviews.
Is GoFundMe Safe?
GoFundMe has been around since May 2010 and has already raised many millions of dollars for charity. Unfortunately, there have been a number of Gofundme Scams, but the majority of the actions seem legitimate. In addition, the donation platform works with a well-known American payment provider, namely Stripe.
How does GoFundMe work?
We will briefly explain how to setup a Go Fund Me. You start by creating a GoFundMe page. If you have all the information ready, this is done fairly quickly. Once the promotion is approved and you’re signed in to Stripe, you can start raising money. By sharing the GoFundMe page via email, WhatsApp, Facebook and other social media channels you can quickly reach a large group of people. You can personally thank the donors and keep them informed by means of updates.
There are many donation platforms in the world and in the Netherlands. A good GoFundMe alternative for the Netherlands and other European countries is WhyDonate. They are a bit cheaper and a reliable Dutch donation platform. At the bottom of this page, you will find a full comparison of all platforms.
Does GoFundMe have iDEAL?
Yes, in addition to credit card payments, GoFundMe also offers iDEAL for the Dutch market. Unfortunately, no payment methods are offered for other European countries. Such as Paypal, Bancontact, Klarna, Sofort, Giropay, KBC etc. Check the comparison below to see what payment methods the other donation platforms have.
|Donation platform||Reviews||Platform Costs||Transaction Costs||Other costs||Payment methods||Launch date|
|WhyDonate||4,7||0%||1,9%+ €0,25||None||iDEAL, Creditcard, Paypal, Bank transfer, Direct Debit, Sofort,|
Bancontact, EPS, Giropay, Belfius, KBC
|GoFundMe||4,5||0%||2,9% + €0,25||None||Creditcard, iDEAL||2010|
|Doneeractie||2,9||7,3%||€1,03||None||iDEAL, Bank transfer, Bancontact|
Belfius, KBC, Sofort.
|Geef||4,2||0%||3,4% – 11,4%*||None||iDEAL, Creditcard, Paypal, Klarna.||2011|
|Doneerdoel||4,9||6,05%||€0,59||None||iDEAL, Bank transfer, Bancontact.||2018|
€0,50 + 3,4% **
|None||iDEAL, Paypal, Bank transfer, Sofort,|
Bancontact, KBC, Belfius
€0,10 + 3,4% **
|None||iDEAL, Creditcard, Paypal, Bank transfer, Sofort, |
Bancontact, EPS, Giropay, Belfius, KBC
|Kentaa||4,4||0 – 5%***||€0,17 –|
€0,41 + 3,4% **
|€99 / month||iDEAL, Creditcard, Direct Debit, Paypal,|
|Nationale Donatie Pagina||No reviews||6,05%||€0,61||None||iDEAL||2020|
|GetFunded||3,4||7%||€1,15||None||iDEAL, Bancontact, Paypal||2014|
|* The transaction costs depend on the amount donated and the tip. With a donation of €10 and a tip of €0, 11.4% of transaction costs will be deducted. With a donation of €100 and a tip of €0,- 3.4% will be deducted.|
** The transaction costs vary per payment method. The table shows the lowest (iDEAL) and highest (Paypal) rates.
*** The platform costs depend on whether a tipping option is shown on the donation form. If no tipping option is shown, Kentaa charges 5%, if a tipping option is shown, 0% is charged.