Virgin Money Giving to let donors cover transaction fees
Melanie May | 28 November 2018 | News
Virgin Money Giving has announced the roll-out of a new ‘Donor Covers Fee’ feature which will give donors the opportunity to cover the flat 2% transaction fee charities are charged to use the site.
The new feature is initially available to ten major charity partners and will be rolled out to all Virgin Money Giving’s charity partners by the end of the year.
It says it charges a 2% transaction fee to cover its running costs and to allow it to keep developing its service. Now donors will be offered the opportunity to pay that fee instead of the charity.
Virgin Money Giving has also announced that it intends to sign up to the Fundraising Regulator’s Code of Fundraising Practice.
Donor Covers Fee in practice
Jo Barnett, Executive Director at Virgin Money Giving said:
“We are delighted to become one of the first major fundraising platforms to sign up to the Fundraising Code of Practice. We believe it is an important commitment at a time when the sector is being scrutinised and some practices are being called into question. As one of the leading brands in the sector, it is important to take the lead and make sure that charities and fundraisers understand our commitment to continue to operate at the highest standards.
“Our ‘Donor Covers Fee’ feature will give fundraisers the option to pay our fee on behalf of charities, which will mean that even more money goes to those charities. Donors can be sure that the fee they pay for using Virgin Money Giving only covers our costs. In addition, we don’t charge a fee on the Gift Aid collected on behalf of charities as we strongly believe that 100 per cent of Gift Aid should reach the charities.”
Gerald Oppenheim, Chief Executive at the Fundraising Regulator said:
Advertisement
“The purpose of the new Code and guidance for fundraising platforms is to ensure they work to the highest fundraising standards and make sure the public are clear about where their donation is going. By confirming that it intends to sign up to the Fundraising Code, Virgin Money Giving is sending a powerful message to both fundraisers and donors about its commitment to good fundraising and operating to the highest standards.”
About Melanie May
Melanie May is a journalist and copywriter specialising in writing both for and about the charity and marketing services sectors since 2001. She can be reached via thepurplepim.com.