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Credit Card Sponsorship via Just Giving ?
HouseHuntr
Posts: 522 Forumite
in Credit cards
I would like to sponsor somebody who is using the registered charity Just Giving to collect sponsorship for a challenge and by using them a tax break is given which effectively increases the sponsorship monies.
Sponsorship funds are collected by credit/debit card and by sponsoring this way will I be liable for additional charges from my card company ? Is this classed as a cash advance which would immediately attract interest ?
Sponsorship funds are collected by credit/debit card and by sponsoring this way will I be liable for additional charges from my card company ? Is this classed as a cash advance which would immediately attract interest ?
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Comments
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AFAIK the Just Giving is classed as a merchant transaction. It isn't a charity, but earns £loads for the charities.
They charge 5% of the amount raised, presumably pay VISA/MC a percentage of that, and then add the Gift Aid bit on top.
I read that as a £100 donation earns the charity £95, plus the best part of £20 Gift aid on top. It also saves the chasing up of sponsorship as used to happen from time to time
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