GoFundMe Reviews - Pros & Cons, Ratings & more (2024)

FAQs

GoFundMe Reviews - Pros & Cons, Ratings & more? ›

Overall, GoFundMe is a good crowdfunding platform for startups if they are willing to take the risk of not reaching their fundraising goal. The platform is easy to use and it is available to anyone in the world. However, it is not a good platform for marketing your startup and you may not reach your fundraising goal.

While GoFundMe can be a helpful tool, raising the full amount you need is not guaranteed. Success depends on how well you can spread the word about your campaign and whether your cause resonates with people. Reaching your fundraising goal requires dedicated time and effort.

How much does GoFundMe charge for a $100 donation? GoFundMe, a for-profit company, applies a 2.9% payment-processing fee for each donation and an additional 30 cents per donation. To illustrate, if a campaign raises $1,000 through ten donations of $100 each, GoFundMe would collect approximately $32.

BetterWorld. BetterWorld tops the list of GoFundMe alternatives for several reasons. The first reason is its flexibility. In addition to hosting a crowdfunding campaign, you can also do a variety of other fundraisers, including online auctions, giveaways, peer-to-peer fundraising events, and monthly giving arrangements ...

There's no fee to start or manage your fundraiser. However, to help us operate safely and securely, one small transaction fee (2.9% + $0.30, which includes debit and credit charges) is deducted per donation.

In June 2019, GoFundMe terminated a $3 million fund raising for an Australian rugby player, Israel Folau, to finance a court case to appeal his multi-million dollar dismissal. He had quoted 1 Corinthians 6:9–10 on social media, which was said to be hom*ophobic.

If you raise money through a crowdfunding platform for personal causes, such as to get help with a medical bill or to source money for an educational goal, those funds are generally considered a gift and thus not taxable — as long as the people who donated did not receive anything as an incentive for donating.

Sales Prohibited on the Platform: You are not permitted to offer any good or service in exchange for a Donation on the Platform.

Even if you don't reach your goal, you can withdraw every cent, minus the transaction fees. This is unlike other donation platforms that take an all-or-nothing approach, meaning you can only receive the donations if you reach your target. It's free to sign up and start a campaign on GoFundMe.

In the Transfers section of your GoFundMe account, check under "Past transfers" to see what funds have already been sent to your bank account. Every transfer will take 2 to 5 business days to reach your bank.

Is GoFundMe worth it? ›

Another advantage of crowdfunding is that it is safe and your well-earned funds will remain safe. There are numerous safety and security measures on GoFundMe that are put in place to make sure fundraisers, and donors, are safe online.

People raise money for just about everything, including medical expenses, education costs, volunteer programs, youth sports, funerals & memorials, and even animals & pets. We're always amazed at the ways people use GoFundMe to raise money. Check out some recent success stories, or see how GoFundMe works.

Whether you want to fundraise proactively or you already have student loan debt, GoFundMe student loan assistance makes it easy to raise money right away. Plenty of students have used GoFundMe to quickly finish paying off student loans and find financial freedom—are you ready to give it a try as well?

As an organizer, you can thank donors and make donations anonymous from within your own account. To comply with data protection regulations, it's not possible for us to provide a complete list of your donors' information, and the option to download a donor list including email addresses has been removed.

Your funds are secure

We work closely with our payment partners to make sure your funds are protected.

Make your goal clear

For this reason, it's wise to set a reasonable and attainable fundraising goal when asking for donations. If your total debt is $10,000, it might be a better idea to set an initial fundraising goal of $3,000.

One small transaction fee is automatically deducted per donation—that's it. Everything else goes directly to your cause, because that's what matters most.

GoFundMe charges one transaction fee—that's it. So, what percentage does GoFundMe take for transaction fees? A transaction fee of 2.9% +$0.30 is automatically deducted from each donation, so you never have to worry about paying a bill.

People have found that crowdfunding is a fast way to tackle their debt when unexpected circ*mstances set them back financially. Through GoFundMe, you can easily reach out to friends and family members and get back on your feet and out of debt.