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.
Our top seven questions from supporters
1. What payment options are there for pledging?
Supporters can pledge on a project using all major international and national credit/debit cards. Simple.
2. When will the money leave my account if I pledge on a project?
When you make a pledge on a project, the money will leave your account immediately. Your money will be held in escrow until the project closes successfully. Only once the project closes successfully will the money raised be transferred to the project owner.
3. What happens if the project isn’t successful?
Your money will not be transferred to the project owner until the project closes successfully. If the project doesn’t close successfully then you will be refunded within 5 working days of the project closing. Examples of where this would happen are if the project is on our ‘All or nothing’ funding option and doesn’t hit target or they cancel the project for one reason or another.
4. How do I cancel my pledge?
You can cancel any of your pledges from the ‘My Pledges’ section of your Crowdfunder profile (up to 24 hours before a project closes). This also removes you from the project’s supporter list.
5. Can I pledge anonymously?
Most project owners will give you the option of pledging anonymously on their project. This means your user name will not appear publicly. To do this, simply tick the ‘Pledge anonymously’ box when making your pledge.
Please note – Project owners will still receive your contact information.
6. How can I change my pledge to be anonymous, or not anonymous?
You can manage any of your pledges from the ‘My Pledges’ section of your Unido profile. To make a pledge anonymous, simply tick the ‘Pledge anonymously’ box, or un-tick it to make your pledge public.
Unido’s mission is to tackle society’s challenges by making ideas happen. Our aim is to help projects that matter get support from people who care.
Unido supports the principles of freedom of speech, tolerance and inclusivity.
While we recognise that some projects may become the subject of public debate, it is primarily for the crowd to decide which projects will get their funding and support.
Unido will not, however, host projects where the act of raising funds or the purpose of the project is illegal under Cabo Verde law.
The following are prohibited from being offered as rewards on the platform.
- Loan repayments, profit shares or equity in a business.
- Pornographic material.
- E-cigarettes, vapes, tobacco, drugs or drug paraphernalia.
- Firearms, weapons, knives, weapon accessories or replicas of weapons.
- Manufactured products which don’t meet Cabo Verde safety guidelines
Is your project suitable?
Ask yourself these three questions
Unido is open to everyone. We’ve raised funds for businesses, charities, community groups, individuals, sports teams and many more. Whether or not your project will be successful comes down to three main factors.
1. Do you have a good idea that you know people will get behind?
To engage your crowd you’ll need a good idea.
Unido projects work well when they are ideas that are clearly needed, ideas that are unique or attached to a larger cause.
Test your idea with those close to you first and ask if they would back it.
2. Do you have a crowd of people you can connect with to start the ball rolling?
The best question to ask yourself is,
‘Do I know 10 people who would pledge towards my project and help me turn my great idea into reality?’
You then need those people to spread the word and get their friends pledging.
Connecting with communities that will be interested with your project can help to spread the word.
Having great rewards for your supporters will help people you don’t know to get involved with the project and will encourage them to pledge more.
3. Do you have a realistic target?
The average pledge on Unido is 500$00, so for every 100,000$00 you will be looking to find on average 200 supporters for your project.
Not everyone will pledge on your project, so for every 100,000$00 raised you will be looking at getting 1,000 to 4,000 people to view your project page.
If you think your idea can reach that many people then Unido can work for you.
We have thousands of projects crowdfunding with us each and every month and look forward to seeing your great idea live soon.