Virgin Money waives platform fee for remainder of lockdown
Melanie May | 20 April 2020 | News
Virgin Money Giving’s 2% platform fee will be waived until lockdown is over, it has announced.
Virgin Money Giving is waiving its platform fee on all donations and fundraising activity, including the new 2.6 Challenge, as of 18 April. The fee is charged to cover its running costs but is being covered temporarily to help people’s money stretch even further in support of charities during the crisis.
It means that with Virgin Money Giving’s ‘Donor Covers Fee’, which gives donors the option to cover both the 2% platform fee on behalf of their charity and the 2.5% payment processing fee, the 2% platform fee will be removed with donors still given the option to cover the 2.5% payment processing fee.
David Duffy, CEO said:
“With many charities seeing a large drop in their fundraising contributions during lockdown, we want to make it that little bit easier for all the generous donors, fundraisers and the charities they support.
“We believe that a not-for-profit model is the only way for a digital fundraising platform like VMG to ensure as much money as possible goes to good causes while maintaining a safe, secure and user-friendly service. But in this extraordinary and challenging time we wanted to do more to support the generosity of the public and our beloved charities. By covering VMG’s small platform fee for the rest of lockdown, we hope to help charities raise much needed funds to continue their valuable work during the worst of this pandemic.”
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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.