Why are there fees?

TeacherFunder allows teachers to receive funding from anywhere in the world using methods such as credit and debit cards through a third-party payment processor Stripe and our service.

However, these transactions carry fees by the merchants (payment processor).

What are the fees?

These fees can be credit card processing fees, exchange fees, and funding site fees.

Card processing fees are fixed amounts and a percentages (3.9% + $1.00). Exchange fees change each day, and will likely be a percentage that depends on the country of origin. Each fee is usually in the single digits.

Summary

All of fees involved are necessary to process payments. Exchange fees are also necessary. While we do our best to decrease the fees as much as possible, they are what enable the site to function.