How much does squarespace take from donations?

Squarespace Donation Transaction Fees

Squarespace, a popular website builder and hosting platform, charges a 3% transaction fee on all donations processed through its platform. This fee is in addition to the standard payment processing charges and the cost of your Squarespace subscription.

Implications for Nonprofits

This transaction fee can have a significant impact on the finances of nonprofits that rely on donations to fund their operations. For example, a nonprofit that processes $100,000 in donations through Squarespace will incur a $3,000 transaction fee.

Budgeting Considerations

When budgeting for fundraising efforts, nonprofits should factor in this additional expense. It’s important to set realistic fundraising goals and allocate funds accordingly to cover both the donation transaction fees and other related costs.

Alternatives to Squarespace

If the Squarespace transaction fee is a concern, nonprofits can explore alternative platforms that offer lower or no transaction fees for donations. These alternatives include:

• Givebutter: 0% transaction fees for donations
• Donorbox: 1.5% transaction fee for donations
• PayPal Giving Fund: No transaction fees for donations

Factors to Consider

While transaction fees are an important consideration, nonprofits should also evaluate the overall benefits of using Squarespace. The platform offers features such as:

• Easy-to-use donation pages
• Secure payment processing
• Donor management tools

Nonprofits should carefully weigh these benefits against the potential cost savings offered by platforms with lower transaction fees.

Conclusion

Squarespace’s 3% transaction fee on donations is an additional cost that nonprofits should budget for. By exploring alternative platforms and carefully considering the benefits of using Squarespace, nonprofits can make informed decisions to ensure that their fundraising efforts are as effective as possible.