I was thinking of using splitzee for a high-value fund-raise of $30,000, then I saw the 3.5% + 1% cash-out fee and thought, no way in hell. $1,500 is WAY too high of a fee to pay a website to solve a relatively simple problem. I would say you should reduce your fee to something closer to 1% total for such high-dollar pools.2 votes
This is a really good point and I wish we could! Part of the problem is that the credit card companies charge us upwards of 2.9% just to process the transactions. So if you brought in $30K Splitzee would get charged $870. Everyone has this problem: to offset their costs, Kickstarter charges 8% and Indiegogo charges 9% or more, so our rates are pretty competitive! (By the way – if you find a better/cheaper way to do it, by all means let us know!)
That said, we charge NOTHING for purchases you make from our partners. So in theory if you spent that $30K through our platform you’d end up paying zero, which is pretty good. :)
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