No more bank charges on the giving at B1G1

No more bank charges on the giving at B1G1

B1G1 today announced that it’s now even paying the Bank Charges for its Members when they give.

Until now, banks and payment gateways like PayPal always took out their ‘cut’ of any online transaction even though in the B1G1 case, that transaction was going directly to a charitable project that does good. 

It could be giving water and food to a child who desperately needs it; it could be saving the Orang Utan habitats in Borneo; it could be giving a child access to school plus any one of (literally) 678 projects that B1G1 Members support worldwide in 29 countries. It made no difference; the banks still took a variable percentage.

“But today, we decided we’d had enough of the banks doing that,” said B1G1 Chairman, Paul Dunn. “From now on, we’ll be paying the Bank Charges from our funds. In B1G1 we’ve always said that 100%* of the giving goes direct to the project selected by the member. But that little asterisk has always been there. And when you saw the asterisk we explained it meant ‘less bank charges’. Of course, people accepted it because we tend to accept what the banks do, “

 “We’ve always had a model that allows us not to take any percentage of giving like other fund-raisers do. In B1G1, businesses around the world belong to B1G1 and pay a simple fee for Membership which then gives them access to all of the projects and much, much more. It also means that B1G1 never takes a percentage from the giving.”

So since its inception, B1G1 has always prided itself in having a model where 100 per cent goes to the projects selected by the members. “But, until today, we’ve always had that pesky little asterisk!” Mr. Dunn said.

Removing the asterisk and paying the fees actually has 4 simple benefits. First and foremost (and obviously) the projects get the full impact of the Members’ giving. Secondly, the Member clearly feels even better now that a percentage of his or her giving funds are going to support the banks.

But according to Mr. Dunn, there are at least 2 other benefits. “First, our accounting people tell us that it will actually make their job quicker and easier — so in effect, our job of accounting for the bank charges made things more difficult!”

“And it also means it creates an interesting sponsorship opportunity too. We think that some B1G1 Members might see an interesting benefit to themselves when the message of ‘Bank Charges have been paid for you by XYZ Company so that ALL of your funds for giving can go to doing good’ is displayed on every members Giving Impact Statement.”

“Here at B1G1 we’re really thrilled to finally be rid of the Bank Charges depleting the giving.” Mr. Dunn said. “ “We’ve always said that B1G1 is about sharing the joy of giving — this definitely adds more joy!”