What are the fees? Is there a charge?

Spacehive fees

Spacehive charges a 5% fee (+1% VAT) on funds raised if, and only if, you hit your target. The 5% fee pays for the development and maintenance of our technology platform, the process of verifying projects, and the support that we provide. 

This is 5% (+1% VAT) of your total project costs and is automatically added onto your campaign total. So if a project needs to raise £100, a £5 fee and £1 VAT will be automatically added, giving a total of £106.

Spacehive’s fee continues to apply to funds raised during overfunding

Transaction fees

There are also transaction fees; PayPal at 3.4% + 20p per pledge and GoCardless at 0.5%. These are estimated at the beginning of your campaign and are automatically added onto your total project costs. Because these are estimations you might notice your campaign target fluctuating depending on the payment methods used by backers and the pledge sizes. Generally the transaction fees are overestimated so you’ll probably see your target decreasing, especially if you get a big pledge or if you mostly receive GoCardless pledges.

£100 (project costs) + £6 (Spacehive fees + VAT) + £~2 (transaction fees) = £108 (total amount to raise)

Spacehive and transaction fees are shown in the Costs tab of project pages.

 

By |2018-11-30T14:03:32+00:00July 6th, 2016|

About the Author:

Having spent a number of years in the Music industry, Hamish moved into the Tech space to work for a company specialising in financial education for children. He joins Spacehive with experience in community management and will be working to ensure that Spacehive offers the best User Support it can.