While Fundly doesn’t charge anything to create and share your online fundraising campaign, they do deduct a 4.9% fee from each donation that you receive. A credit card processing fee of 3% is also automatically deducted from each donation. For larger campaigns, automatic discounts are available.
Discounts are applied to campaigns that exceed $50,000 as follows:
- 4.4% + 3.0% credit card processing fee for campaigns reaching $50,001 to $500,000
- 3.9% + 3.0% credit card processing fee for campaigns reaching $500,001 to $1,000,000
- 2.9% + 3.0% credit card processing fee for campaigns exceeding $1,000,000
Fundly does not charge a non-completion fee if you fail to meet your own campaign goal. Their fees are pretty standard in the crowdfunding industry; however, some only charge a flat rate and do not charge processing fees.
Fundly offers a Keep What You Raised funding model. In All or Nothing types, if you don’t reach your total pre-determined monetary goal, you don’t receive any funds. Fundly allows users to keep all the funds raised for a campaign even if a campaign does not reach its overall monetary goal. This is better for everyday people without a lot of connections trying to raise funds for personal reasons.
Maximum Allowed Raise
There is no maximum amount you’re allowed to raise on Fundly. There also is no minimum amount to raise in order to keep your funds like on some crowdfunding websites. Users can focus on their cause and getting donations for whatever amount they need without any limitations.
With Fundly, there are no deadlines. You can start a campaign for any amount you want, no matter how big or small. This is great because many crowdfunding sites have a minimum and maximum amount you can fundraise for. Here, the sky is the limit and you don’t have to be constrained to a certain amount if you need to raise more, nor are you pressured to meet any pre-set deadlines.
At the end of your campaign, Fundly transfers your money through a third party processor called WePay or by electronic fund transfer. All you have to do is activate your account and start accepting donations immediately. Payments are processed quickly and can usually be withdrawn in 24-48 hours of the donation. Automatic transfers can also be configured to further speed things up. Once your fundraising campaign begins receiving online donations, Fundly allows you to withdraw your balance directly to your bank account anytime. This won’t affect your funding meter displayed on your campaign page, either.
Administrative Work Options
Once you launch your campaign, Fundly will send you emails to help direct you through the first few weeks of your campaign. You’ll also get emails and push notifications when something new happens and an easy way to respond. Fundly also helps you make a great looking page, get setup on your social networks, and sends a welcome email to your first wave of contacts.
Fundly is a Donation Model for personal fundraising. Some crowdfunding companies incorporate equity and reward model options where individuals and businesses are given perks for donating and supporting a campaign in the form of gifts or ownership. Because Fundly focuses primarily on personal contacts to generate interest in a campaign, it may limit a user’s potential to reach a larger audience. It may also make it difficult for individuals without social media to adequately utilize Fundly’s resources due to their emphasis on integrating Facebook and Twitter.