Why is Causes switching to Stripe?
We believe that transitioning to Stripe is the best option for our diverse community moving forward. Switching to Stripe will allow Causes to open fundraising up to political campaigns, international organizations, and 501(c)(4) nonprofits in addition to 501(c)(3) nonprofits.
What are my fees?
For every donation raised, Stripe will charge 4.0% of the donation amount. Causes does not charge a transaction fee and takes no additional fee from the donation. If you have a pre negotiated fee with Stripe, these terms will stand.
To start accepting donations, you’ll need to create a Stripe account or connect to an existing Stripe account. If you don’t already have a Stripe account, you will need the following information to create one:
- Organization details
- Legal name
- EIN (Tax ID)
- Financial administrator information
- Legal name
- Date of birth
- Last 4 digits of their social security number - read why here
- Credit Card statement details
- Organization name
- Phone number
- Bank account information
- Routing number
- Account number
Stripe requires the last four digits of a social security number for sign up. This can be provided by your financial administrator, manager, CFO or any other person responsible for handling bank accounts at your organization.
You can read more about why and how Stripe uses this information here.
When will Causes be making the switch to Stripe?
In early April, 2014, we will send you instructions on how to connect your Stripe account to your Causes profile.