Our developers recently launched a feature on the ServanTek payment processor, allowing donors to opt to cover the processing fees associated with their transactions. While this feature provides the obvious benefit of potentially reducing transaction fees for your organization, there are a few other benefits that may be less apparent.
Donors will appreciate your transparency.
Whether your donors are new to the organization, or they’ve been contributing for years, most will only give with the expectation that their money is being used responsibly. By giving donors the option to cover your processing fees, you are offering transparency about your organization’s costs and use of funds. You’re also giving donors the opportunity to cut overhead costs by contributing a very small fraction of their overall gift to cover these fees. In many cases, donors will be willing to cover these costs, given the convenience of making an online donation and the benefit to your organization.
A little goes a long way.
When your donors choose to cover the processing fees for their transactions, their additional gift is minimal in comparison to their total gift given. However, when added together, these individual fees quickly grow to cover a complete line item in your fundraising budget. Given that donors who frequently shop online are used to additional fees like state sales tax and shipping costs, they may not consider it a big deal to pay a 2.5% fee for processing. And given that this additional gift is completely optional for donors, those who do not wish to participate can easily give their originally intended amount.
Do you offer your donors the option of covering your processing fees when they donate online? If not, check out the ServanTek payment processing system to learn more.