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MyKillK
12-07-2007, 08:49 PM
Hey guys!

As part of my research for a personal project I have dreamed up, I looked into credit card transaction companies. Something I immediately noticed was the high fees that these companies charge. Outrageously high fees. Basically it looks like this, FOR EVERY TRANSACTION:

3-5% of the total transaction amount
PLUS
A set amount of 30 to 40 cents

Why am I posting this here? Because the smaller the transaction is, the bigger percentage that set transaction fee becomes. 30 cents out of a dollar transaction is 30%! 30 cents out of a $10 transaction is 3%, and so forth.

Ultimately, the point is: Donate as much as you can, in as few transactions you can. That is why I think money bombs are great...they encourage people to donate large amounts ($100) which makes the set 30-40 cent transaction fee negligible. What people shouldn't do is donate $5 here, $10 there, $5 now, etc. You're actually hurting the campaign because so much is being siphoned off by the greedy transaction companies.

Just a FYI for everyone. Cya around!

CelestialRender
12-10-2007, 07:11 AM
I would say the effect's negligible, really. The real benefit to money bombs is that people get excited by them, and donate more than they otherwise would.