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Should You Use Patreon or Take Payments on Your Own Site

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But how exactly does Patreon work? And how can indie authors use it to bolster their writing income? Let's take a closer look at this platform, the ways in which it can be beneficial for indie authors, and the caveats you need to keep in mind if you use it. What is Patreon and how does it work?Patreon announced that it would no longer take payment processing fees out of an artist’s monthly funds. Starting December 18th, it will charge those fees to patrons, adding a service fee of 2.9 percent, plus 35 cents on each pledge .A blog post read, “ With this update, creators will now take home exactly 95% of each pledge with no additional fees. In the past, a creator’s income on Patreon varied because of processing fees every month. They could lose anywhere from 7-15% of their earnings to these fees.If your project is successfully funded, the following fees will be collected from your funding total: Kickstarter’s 5% fee, and payment processing fees (between 3% and 5%). If funding isn’t successful, there are no fees.So I just started Patreon a few weeks ago (monthly pledge style) and for May I had 4 patrons with donations equaling . However, it says my current account balance is .85. From what I found Patreon says they charge a 5 percent fee, but this seems more like a 12 percent fee.Following massive backlash, Patreon is at least temporarily pausing its plan to change its payment processing fee structure from charging creators 2-10% on the first of the next month to charging.Stripe has rolling 2 day transfers in the United States and Australia, and rolling 7 day transfers in most other countries (see the Stripe automatic transfer schedules). If fast access to your funds is important and you're outside the United or Australia, keep this in mind. Security. Both Stripe and PayPal take security seriously.I know it will take a long time for us to earn back your trust. But we are utterly devoted to your success and to getting you sustainable, reliable income for being a creator. We will work harder than ever to build you tools, functionality, and income, and our team won’t rest until Patreon is making that happen.Historically, Patreon set a flat 5% fee for our service, with an additional third party processing fee that ranged from 2% – 10%. Some creators were hit by these fees much more than others, and it wasn’t predictable month to month. Does patreon take processing fees.

What percentage of donations does Patreon keep from content

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Should You Use Patreon or Take Payments on Your Own Site

Patreon described the change as positive for content creators. The service said artists were losing as much as 15 percent of their income because of processing fees. The new service fee "allowsPatreon states that the company is “working toward a solution” that allows current creators to opt into the new payment processing fee scheme if they so choose. These changes are being touted as a way for Patreon to compete with Facebook and YouTube, each of whom is muscling its way into the crowdfunding industry.HOWEVER, Patreon batches processing. This means if you are giving php to three different projects, you are charged and that 30 cent fee gets spread among the three, causing it to drop to 10 cents each and yields a new income of Patreon’s new service fee spurs concern that creators will.82 for each.Following massive backlash, Patreon is at least temporarily pausing its plan to change its payment processing fee structure from charging creators 2-10% on the first of the next month to charging.Patreon pays the processing and transaction fees on each pledge. Patreon then takes the processing and transaction fees assessed on the pledge amount and distributes it evenly across all the patron’s creators. This distributed amount is then deducted from the pledge amount. Patreon assesses a 5% fee on the pledge amount and deducts that.Patreon then deducts a 5 per cent service fee, in addition to requisite processing fees, from the pledge. That left creators with fluctuating amounts of monthly revenue, taking anywhere from 85-93.I know it will take a long time for us to earn back your trust. But we are utterly devoted to your success and to getting you sustainable, reliable income for being a creator. We will work harder than ever to build you tools, functionality, and income, and our team won’t rest until Patreon is making that happen.Patreon's changing their fee structure to make donors cover payment-processing fees (standardized to 2.9%) -- plus an additional 35 cents for every pledge. Long-time Slashdot reader NewtonsLaw reports that Patreon's users are furious: Despite Patreon's hype that this is a good thing for creators, fPatreon’s payment processing problems create headaches for creators. But due to processing issues, a large chunk of these payments were declined and marked as fraud. Patreon posted that it’s looking into the problem, and has suggested that people reach out directly to their subscribers — called patrons — and ask them to either use a different card or to call their bank. Does patreon take processing fees.

Finally, there’s an important financial incentive. There are still external processing fees for putting money in and out of Patreon, but they are mitigated by aggregating payments: a patron is billed once a month for all supported campaigns, and creators similarly cash out the aggregated earnings.Here is my review of Patreon. I did this to help give you the tools to know whether or not this will be something that will help you, as well as give you th This honest Patreon review explains the benefits of using Patreon and the challenges you are likely to face looking for patrons and getting pledges.WHAT IS PATREON? Patreon is a cross between subscriptions and Kickstarter. Unlike Kickstarter, Patreon doesn’t focus on a one-time project. It’s aimed at fundraising for long-term projects that include recurring creations, like issues of a magazinIn addition to the transaction fees coming out of pledges, Patreon also takes 5 percent. After factoring in processing fees, creators typically take home 80 percent to 88 percent of each pledge does patreon take processing fees.Patreon promised creators they would cover payment processing costs by charging creators a per-pledge fee that.was not actually tied to the amount it cost Patreon to actually pay for the payment processing cost for that pledge.Patreon is introducing a new payment processing fee system in May, changing a more nebulous rate that Patreon has previously said ranges from 2 to 10 percent. But unlike the earlier proposal, it.Patreon then deducts a 5 per cent service fee, in addition to requisite processing fees, from the pledge. That left creators with fluctuating amounts of monthly revenue, taking anywhere from 85-93.Payment processing fees cover the cost of Patreon’s robust payments architecture, plus the fees our payment processors charge each time they process a successful pledge or refund. Payment processors charge a percentage of the transaction amount plus a fixed number of cents per transaction.Patreon changed their fee structure causing some to decide to drop their support for Ask Leo. Before you do so, I have an alternative that's actually better for both of us. Recent changes to the Patreon fee structure have caused several folks to drop their support of Ask Leo. Honestly, I can’t. Does patreon take processing fees.

Which is Better…Patreon or OnlyFans?

The question is whether or not the earnings from Patreon are taxable income. At first blush, this makes Patreon payments taxable does patreon take processing fees. It also makes Patreon’s cut, or service fee, a business expense, if you are running a small business and filing a Schedule C. The things that are exempt from being income are very limited.The fee was supposed to go into effect on Dec. 18, and was arranged so creators would pay 5 percent of a payment processing fee, rather than the 7-15 percent they currently pay. To do this, PatreonPatreon is introducing a new payment processing fee system in May, changing a more nebulous rate that Patreon has previously said ranges from 2 to 10 percent. But unlike the earlier proposal, it.Their fee is 10% (higher than Patreon's 5), and processing/payment fees are absorbed or handled by creators on top of that. Tipeee ( www.tipeee ) is a French offering that is open to all content creators who provide regular free content.No platform fees or monthly fees — only payment processing fees are taken out of what you earn Liberapay is for donations, not payments, in return for products or services Founded in France in 2015, Liberapay describes itself as a recurrent donations platform, which naturally invites comparisons with Patreon.Patreon currently takes five percent of processed payments. That means users take 95 percent of revenue they make from subscriptions. The biggest difference between Patreon and Twitch/YouTube is the payout process. Payout fees and payment processing fees are charged.With charge-up-front, the patron is charged their pledge amount right when the make the pledge and a payment processing fee is assess on that lone payment. After the initial CUF payment, the patron is charged on the first of the month, with all their pledges to creators batched and processed as one payment. Patreon’s new fee structureCommunity pages on Patreon are cool and allow contributors direct access to the creator to ask questions and give feedback. Now the Cons: You pay a percentage of your income to Patreon- 5% directly to Patreon, and another 5% or so in processing fees.“With this update, creators will now take home exactly 95% of each pledge with no additional fees,” the company explained on its update page. “In the past, a creator’s income on Patreon varied because of processing fees every month. They could lose anywhere from 7-15% of their earnings to these fees. Does patreon take processing fees.

What percentage of donations does Patreon keep from content

Patreon currently takes five percent of processed payments. That means users take 95 percent of revenue they make from subscriptions. The biggest difference between Patreon and Twitch/YouTube is the payout process. Payout fees and payment processing fees are charged.Stripe has rolling 2 day transfers in the United States and Australia, and rolling 7 day transfers in most other countries (see the Stripe automatic transfer schedules). If fast access to your funds is important and you're outside the United or Australia, keep this in mind. Security. Both Stripe and PayPal take security seriously.So I just started Patreon a few weeks ago (monthly pledge style) and for May I had 4 patrons with donations equaling . However, it says my current account balance is .85. From what I found Patreon says they charge a 5 percent fee, but this seems more like a 12 percent fee.What are the fees associated with using Patreon? Patreon takes 5% and the creators cover the credit card transaction fees which are generally 4% across the site. Also remember that some pledges will fail due to declined credit cards.Patreon's changing their fee structure to make donors cover payment-processing fees (standardized to 2.9%) -- plus an additional 35 cents for every pledge. Long-time Slashdot reader NewtonsLaw reports that Patreon's users are furious: Despite Patreon's hype that this is a good thing for creators, fPatreon is shifting processing fees from creators to supporters. So now, Patreon says it wants to streamline those fees and on the 18th it will charge patrons a new service fee of 2.9 percent plus 35 cents per pledge. That means creators will now only see a flat five percent taken from their pledges.But how exactly does Patreon work? And how can indie authors use it to bolster their writing income? Let's take a closer look at this platform, the ways in which it can be beneficial for indie authors, and the caveats you need to keep in mind if you use it. What is Patreon and how does it work?“With this update, creators will now take home exactly 95% of each pledge with no additional fees,” the company explained on its update page. “In the past, a creator’s income on Patreon varied because of processing fees every month. They could lose anywhere from 7-15% of their earnings to these fees.Patreon batches these transactions to reduce the total fees paid by a patron but it will vary greatly depending on who patrons are paying and what the amount is. Simply put, more patrons paying small amounts leads to higher processing fee and less number of patrons paying higher amounts will lead to a lower processing fee. Does patreon take processing fees.

How does patreon show up on Bill? – AnswersToAll

“Aside from Patreon’s existing 5% fee,” read their blog post on the change, “a creator’s income on Patreon often varied from month to month because of third-party processing fees. And.Re: Can I pay in Patreon without a Credit Card? There is an option on Patreon to "Pay with PayPal". But, just like CarolinaManiac, when I click on it I'm only given the options to pay by credit card (or in my case it also lists my checking account).WHAT IS PATREON? Patreon is a cross between subscriptions and Kickstarter. Unlike Kickstarter, Patreon doesn’t focus on a one-time project. It’s aimed at fundraising for long-term projects that include recurring creations, like issues of a magazinFinally, there’s an important financial incentive. There are still external processing fees for putting money in and out of Patreon, but they are mitigated by aggregating payments: a patron is billed once a month for all supported campaigns, and creators similarly cash out the aggregated earnings. Does patreon take processing fees.

One Year on Patreon – Pros and Cons – Neil Clarke