We regularly receive questions about the cost of online payment and payment fees. Of course, the cost of online payment has to be weighed against the value it generates — both in time saved and financial gains.
Note: if you use the Tip feature on Springly, online payment costs your nonprofit nothing (no payment fees).
If you'd rather not use the Tip feature, this article answers the following questions:
- I'm open to online payment, but it seems too expensive. What can I do?
- I use checks, which are free. Why would I pay payment fees?
- Can I pass payment fees on to my members?
- I use wire transfers, which are free. Why would I pay payment fees?
- I use HelloAsso, which is free. Why would I pay payment fees?
I'm open to online payment, but it seems too expensive. What can I do?
You need to separate the visible cost from the hidden cost.
To think this through properly, it's important to consider the full cost of paying by check or cash:
- Hidden costs of checks: time spent writing and depositing checks, risk of lost checks, manual follow-ups, manual bookkeeping, delays before funds appear in your account, etc.
- Hidden costs of cash payments: risks associated with handling cash, lack of traceability, losses, manual processes, time spent depositing funds at the bank, etc.
Card payments have grown so popular for a reason: when you factor in all the hidden costs of other payment methods, they are the least expensive option available — not to mention the boost to your nonprofit's image and modern appeal.
There are no fees for checks. Why would I use a paid service instead?
True, checks don't come with transaction fees.
However, they come with a significant cost in terms of processing and administrative time:
- Time spent writing checks;
- Time spent processing collections;
- Issues arising from lost checks;
- Manual follow-ups;
- Manual bookkeeping;
- Delays before funds appear in your account;
- etc.
That time could be better spent on higher-value activities for your nonprofit.
Can I pass payment fees on to my members?
Yes.
You can invite your members to contribute by leaving a Tip of their choice. In that case, online payment costs your nonprofit nothing.
Members paying by card will be prompted at checkout to leave an additional amount, calculated based on their cart total (min = $0.25, max = $25.00). They can adjust the Tip amount as they see fit.
Check out this article for more details on Tips.
I use wire transfers, which are free. Why would I use Springly?
The value of Springly lies in its simple, integrated platform: online transactions automatically generate book entries, eliminating the need to re-enter data manually.
Springly is a single, simple all-in-one platform. It lets you manage everything in one place, instead of juggling multiple tools. Data flows seamlessly across the platform, saving you more time on manual tasks so you can focus on what matters most for your nonprofit.
Example: Let's say you launch a Membership Campaign for 2023. With Springly, you automatically send a message to all your members inviting them to renew. Those who pay online are instantly marked as renewed, the funds land in your account, and the revenue book entries are recorded automatically. For everyone else, you can see exactly who hasn't paid yet and send them an automatic follow-up.
I use HelloAsso, which is free. Why would I use Springly?
Like HelloAsso, Springly offers a Tip system that costs your nonprofit nothing.
The difference lies in the additional features Springly offers, including automatic book entries and a single, consolidated contact database.
To learn more about Tips: Tips on Springly
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