If you’re trying to raise money for a nonprofit or charity, trying to fund an athletic season, or hoping to find sponsors for your podcast, it can be tricky to decide how to collect funds. There are a lot of great platforms out there, and while many are free to setup, some cost more than others once you start looking into transaction fees. Some platforms may take days or weeks for payments to process, while others are instant. And some are packed with bells and whistles that you may not need—but could be costing you extra.
Here, we’re breaking down some of the costs and benefits of some of the most popular platforms that are regularly used for fundraising and accepting donations:
| Payable Add-On | GoFundMe | Kickstarter | Patreon | BuyMeACoffee | |
| Cost | Free to setup | Free to setup | Free to setup | Free to setup | Free to setup |
| Fees | Free transactions smaller than $3 $0.27 transaction fee between $3.01 and $75.00 0.6% transaction fee for sales greater than $75.01 Cost calculator here | 2.9% + $0.30 for individuals 2.2% + $0.30 for registered charities | If Kickstarter reaches its goal: 5% of total funds raised PLUS Payment processing fees 3% + $0.20 per pledge | Between 5% and 12% of total funds raised, depending on support level | 5% transaction fee |
| Setup | Google Workspace Add-On for Google Forms | GoFundMe.com | Kickstarter.com | Patreon.com | BuyMeACoffee.com |
| Benefit | Allows subscriptions Allows you to collect any information you want via Google Form, no new software required. Lowest transaction fees | Well known for collecting funds for emergency situations / charity | Great if trying to create a product or you have a lot of bonuses, not ideal for just collecting funds | Allows subscriptions Platform has a lot of perks that let you create membership benefits | Allows subscriptions Easy to setup |
| Downside | If you’re not using Google already, there is a learning curve | For individuals collecting money for sponsorships (i.e podcasts), using this platform feels a bit dicey | Setup requires thinking through bonus structures, there are end dates for collecting and receiving funds; high transaction fee | High transaction fees if you’re only using site to collect money | No control over questions to ask your patrons or way to collect info, high transaction fee |
| Access to Funds | Instant | 2-5 days | Not until after end date—and only if goal is met | 1-2 days | Instant |
| Date Range | No end date | End date set, but can continue indefinitely | End date set | No end date | No end date |
| $$ Goal Shown | No (but you can add it to your Google Form to let people know) | Yes | Yes | No (but you can mention it) | Yes (but not required) |
| Website | PayableApps.com | GoFundMe.com | Kickstarter.com | Patreon.com | BuyMeACoffee.com |