Our top five questions from project owners
1. What are the fees?
Unido mission is to tackle society’s challenges through crowdfunding and to help us achieve that, we have a variable fees model.
That means the fee we charge depends on the type of project you need to run to raise money for.
Any fee we do charge helps us to improve our website for our community, adding new features to give people the best possible chance of making their ideas happen.
It also helps us to increase its performance so that it provides the best possible platform for crowdfunding great ideas.
Unido charges a payment processing fee of 5% on what you raise, plus 25c and IVA on each pledge made on all projects except Charity Fundraisers.
If you enter bank details when setting up your project then transaction fees will be applied to your project.
Fees: 5% Unido fee plus the transaction fee.
We charge a 5% fee plus IVA for projects run by individuals or organisations to make their ideas happen. Projects on UNIDO come in all shapes and sizes but whether you’re working alone or part of a start-up, social enterprise, charity, non-profit community group, this is the route for you.
We want to ‘give more’ to benefit you and the charities you fundraiser for. All the funds you raise go directly to your chosen charity. We DO NOT charge any fees for charity fundraisers. All donations including Gift Aid are handled by us.
Personal fundraiser duringa CODIV-19
Fees: Only the transaction fee will be applied
More and more people are now turning to Unido to quickly raise some money for good – but maybe unexpected – personal causes related to COVID-19. We do not charge a Unido fee for projects run by individuals for personal or charitable causes during this time of pandemic. Things such as medical, funeral, education or veterinary bills are good examples of personal crowdfunding projects.This type of fundraiser is slightly different to a charity fundraiser in that we need you to setup and verify a bank account to receive the funds, but the setting up a fundraiser for a personal cause is very straightforward and easy.
Big Impact crowdfunding
Fees: 5% Crowdfunder fee plus the transaction fee
If you’re someone looking to make a big impact through crowdfunding, and need more than 5.000.000$00 to make your idea happen then get in touch. We’re invested in your success so we will dedicate one of our expert coaches to support your project and charge a 5% fee plus IVA.
If you added your project with 5% fees:
Someone pledges 1.000$00 on your project
Crowdfunder’s fee is 50$00 plus IVA (so 57$00)
We charge a payment processing fee £1.67 plus 25p
And IVA is added to the payment fees at 38p
A total of £5.90 would be charged for a pledge of £100 on your project, so you would receive £94.10.
When pledges are made on non-EU cards (i.e. a pledge from the US), the payment provider’s fee would be 3.25%, plus 25p and VAT on each pledge.
Therefore £7.80 would be taken for a pledge of £100 in this instance, so you would receive £92.20.
2. When will money arrive?
You (or the charity you are fundraising for) will receive the pledge payments once the project has closed successfully. With ‘All or nothing’ funding, a project is only successful if it hits target. With ‘Keep what you raise’, all projects that raise any funds are considered successful.
Project supporters will be charged at the time of making their pledge and the funds will then be transferred to you (or the charity you are fundraising for) once the project closes successfully. Payments will be transferred into the specified bank account within 7 working days after the project has closed.
However, if the money if being transferred into your own bank account (does not apply to charity fundraisers) the money will only be transferred if you have successfully verified your ID against your bank account details. After the ID has been successfully verified, it will take 7 working days from when the ID was verified for the money to reach you. This could be after the closing date of the project if you leave it too late! You can check to see if your ID has been successfully verified from the dashboard when editing your project.
3. What are the different funding methods available?
There are two different funding methods for rewards crowdfunding and Big Impact crowdfunding projects.
All or nothing – You only receive your pledges if you hit your target. This is best suited for projects that need to reach a set target to be able to deliver their aims.
Keep what you raise – Keep all your pledges, whether your projects hits target or not.
‘All or nothing’ projects generally raise more money, but you do have to hit your target. ‘Keep what you raise’ means you’ll keep all the money pledged by your supporters, but you’ll also have to fulfil all the rewards no matter how much or little is pledged.
4. What happens if I don’t reach my project target?
All or nothing – If you don’t hit your project target, the money pledged will be refunded to your supporters. Your supporters will receive an email informing them that the project has not reached its target and that they will receive this refund. You will not be charged any fees if an ‘all or nothing’ project does not reach target.
Keep what you raise – You will receive any funds pledged on your project regardless of whether you reach your target or not. Your supporters will receive an email informing them that the project has closed.
5. How long can I run my project for?
For rewards crowdfunding and Big Impact crowdfunding projects, the longest a project can run for is 8 weeks (56 days). However, we believe that the optimal duration for a crowdfunding project is 4 weeks (28 days). There is always a spike of activity at the beginning and end of a project, so keeping a project relatively short allows you to keep the momentum going.