Donation ideas:


#1

hitchhooker on slack:

figured out that donating has been pretty much impossible last couple of years if nobody has been checking out the support messages. there is no paypal or btc address available at trustroots.org/donate

How can we do better regarding donations?

  • Set up Paypal.
  • What’s a good way to receive BTC donations?
  • Improve copywriting?

This one:

Let’s add more ideas and create github issues if there are obvious improvements.


#2

As we all know patreons seems to be a good way to raise some money to a project.

For that we have option like

Checking people who are using all of those options I see that most of the donations they get come from the first website (patreon.com).

As far as I know none of them accept bank transactions. They all use paypal or credit card numbers to the donations.


#3

We (i.e. Trustroots Foundation) have a bank account with IBAN. I’m not sure if it accepts euros though. I’ll find out.


#4

What about having a free Transferwise account ? Where you could be paid in several currencies.
It’s also easy for members to open an account or to send money directly in Euro, USD, pounds…
If you don’t like transferwise there are plenty of competitors.


#5

This looks good:


#6

For money transfers in the European Union, there is no extra transfer fee, besides the normal fees that the bank has anyways. If the bank account is in Uk, we could still profit from this for a while. I think currency is not important, Euros would be converted into pounds.

Besides Paypal and Bitcoin makes sense to me as well.


#7

" I think currency is not important, Euros would be converted into pounds. "

If the currency wasn’t important they wouldn’t be so many companies offering to send money abroad.
The banks can take an exchange fee and offer a poor rate.

Now if we talk about people outside Europe it’s even worse.

TR can easily set up several bank accounts in different major currency.


#8

Not really true. In the European Union exchange rate does not matter so much. So it all depends on the British parliament in December. If the agree to the treaty with E.U. then almost everything might continue as before.
If the transfer comes from outside Europe does not really matter, if it has to be converted into Euro or pounds.
I don’t think TR can easily set up several bank accounts. First of all most bank accounts will ask for monthly fees. 2nd I don’t know, if British law allows the TR foundation to have bank accounts all around.
3rd the best way for people outside of Europe is probably not another bank account, but something like Paypal and Bitcoin. Bitcoin is also a good way to not spend so much money on transaction fees.


#9

Check the cost of Bulgarian banks for example. Changing money you loose few euros everytime but the conversion rate is good actually.
So on a small transfer, let’s say 5 € you might receive less than one.
GB is certainly better since many alternatives solutions or neobanks are located there.

Now talking about the rest of the world.
The USD is by very far the standard.
Many banks worlwide offer bank accounts in USD and a great exchange rate toward this currency.
TR could open a USD banks account in few minutes if they have all the neccessary papers, or more exactly a USD account held by company which have a USD bank account.

Given TR is more likely to receive plenty of little donations than one big, all those little comissions can actually represent more than 50 % of what is being sent.

" First of all most bank accounts will ask for monthly fees "

I have few bank accounts and actually all of them brought me money instead of costing me any fee.

" 2nd I don’t know, if British law allows the TR foundation to have bank accounts all around "

You can hold several bank accounts in different currencies in the same bank.
Once again GB banks are quite famous for that.

" but something like Paypal and Bitcoin. Bitcoin is also a good way to not spend so much money on transaction fees "

Once again small fees on a small amount are relatevely big fees.
Why paying fees when there is a possibility of not paying any fees or more exactly to pay a small fee but only one time

Bitcoins are for now a speculative tool nothing more.
If you know your way around the fees are small, if you don’t the fees are big especially with bitcoins.
I wonder how many people are willing to play with bitcoins for the sake of sending a donation to TR.

Good customer service, TR should provide a easy way to send money.
TR should also minimize the cost of transactions to maximize its profit.

Having at least a USD and Euro account are a minimum and it’s so easy and fast to set up.


#10

opening an account on USD makes sense, if it’s that easy as you say.
but then it’s the question, where do we have the most members and where would the donations come from. if donations come mainly from europe than USD bank account does not help much.
bitcoin could be used only for the transfer, it’s possible to convert bitcoin after the transfer to euro or to something else.
in BeWelcome most donations came by paypal. even though most of donations came from europe and within europe most donations came from germany. but from germany i can make money transfer to the bank account of BW in france with no extra fees. so why do people still choose paypal then?
BW got accepted as non-profit by Paypal France. So now paypals fees are only about half than before and than normally. maybe trustroots could apply for the same, no idea if paypal UK offers the same options.
anyway i think the best is a step by step solution. so i would start with publishing the TR bank account on the website and with opening paypal and publish that to the website too. then everything else can come later, like half fees for paypal, like bank account in euro and USD, like bitcoin.


#11

Get on Liberapay? Characters plenty 2020220


#12

I think it’s a step by step thing.
Start with Paypal, the UK bank account and maybe some cryptocurrency. Later some other options could be added. But it’s weird, when people want to donate, but it’s not possible.


#13

PayPal is and always will be a place of protecting vested interest. Most prominently, its own, which it embodies, by screwing over any and all projects that upset any kind of existing business. Take heed.