Friday, May 10, 2013
How do I Use PayPal to Fundraise?
Using PayPal Directly
1. Sign up for a PayPal account. A PayPal account is ideal for smaller fundraisers that don't need the hassle of paying a fee for every transaction. You can't receive or transfer money if you do not have a PayPal account. On the website (see the Resources section) click on the 'Sign Up' button to begin creating your account.
2. Synchronize your PayPal account and the bank account that the fundraising money will be collected in. This requirement will let you withdraw any raised money from the PayPal account and allow you to place it into the bank account. PayPal does this by depositing a small amount of money into your bank account (usually a few cents) and then asking you to confirm the amount. Once this has been done you are ready to begin raising money.
3. Advertise that you are using PayPal to fundraise whether it is at the fundraising event or on your fundraising website. Lots of people own PayPal accounts and if they know there is a safe and secure way of donating money, they will be more likely to give. Because they can donate without divulging any sensitive information, they will be much more likely to donate freely and willingly.Use a program such as Photoshop to create or copy a relevant image to your fundraising event. Write a message such as 'We Accept PayPal Donations' onto the image in big, bold colors; this will help inform and attract donors.
4. Inform your charity givers on how to sign up for PayPal if they don't have an account. This is vital because PayPal can only make transactions between accounts holders. For example, you might consider posting links and instructions on how to sign up to PayPal at the fundraising event. This could be printed on fliers and handouts, published on the fundraising website or given as personal advice at a booth.
5. Keep a receipt of the transaction. This will not only help your company records and finances but can cover any disputes that givers may eventually have. PayPal will always send you a personal email detailing a transaction's giver, date and amount. Don't worry about sending donors a receipt; PayPal will send them one automatically.
6. Set up a donation button. Visit the PayPal Donation Buttons website as cited in the Resources section. PayPal donations allow anybody to transfer money to your account, even if they don't have a PayPal account. Also, these accounts are useful for businesses that are expecting to receive a high volume of donations.The only drawback, however, is that you must own a Premier or Business PayPal account. These accounts charge a flat fee and a percentage of every donation you receive.
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