The Good Exchange has announced that it will be transforming the way that money is given to good causes using its platform by making the service completely free for every organisational funder and individual donor from 1st October 2019. It has made this decision because whilst the majority of charities and individual donors are benefitting from the use of crowdfunding technologies to raise money, these opportunities have sadly not yet been reflected in the way that the majority of charitable grant-giving organisations operate.
The Good Exchange works on a ‘no win, no fee’ basis and has always operated with no set up, monthly subscription or separate financial transaction costs. A small platform service fee (correlated to monies raised via the platform), is charged to applicant (fundraising) organisations to ensure continued sustainability, but going forwards, funders and donors will have the option to contribute to those fees when giving a grant or making a donation.
The Good Exchange will (unlike many other crowdfunding platforms), continue to absorb all additional financial transaction fees and on-going running costs within the platform service fee and never ask for additional tips from funders or donors to keep for itself. The Good Exchange will also provide a completely free Gift Aid collection service from the same date.