BETTER BUSINESS BUREAU® NEWS RELEASE:
MEDIA CONTACT: Thomas Johnson Director of Public and Board Relations,
Better Business Bureau Serving Chicago & Northern Illinois,
Facebook Joins the Personal Fundraising Field - But the BBB Says Look Before You Leap
CHICAGO – April 13, 2017 – In the next few weeks individuals will have another avenue to raise funds for personal emergencies, college tuition, funerals, etc. Facebook, has had a tool which allowed its users to launch fundraising campaigns for non-profits but, is loosening it restrictions to allow individuals to raise money for personal reasons.
According to Facebook’s announcement, these personal fundraisers can be for any purpose, including themselves, a friend or someone or something that is not on Facebook, as an example a pet.
There are six specific categories that Facebook allows:
To use the tool is not free; Facebook says they won’t make a profit off of its charitable giving tool, but anyone who sets-up a donations page will pay a 6.9 percent transaction fee, plus $0.30 per donation. Facebook says, those funds will be used for processing fees, fundraiser vetting, and security and fraud protection.
In the recently released BBB Scam Tracker Annual Risk Report, online purchases and family/friend emergency scams are two of the riskiest scams in the country.
“There are many reasons that individuals may need to ask the public for help, and having a tool like this or “GoFundMe” which launched years ago, can make the process much easier,” says Steve J. Bernas, president and CEO of the Better Business Bureau serving Chicago and Northern Illinois. “However, just as you would when you make any charitable donation, people who want to give need to take some precautions.”
ABOUT BBB: For more than 100 years, Better Business Bureau has been helping people find businesses, brands and charities they can trust. Consumers and businesses can search business reviews and ratings on more than 5.3 million businesses and Charity Reports on 11,000 charities, all available for free at bbb.org. The Council of Better Business Bureaus is the umbrella organization for the local, independent BBBs in the United States, Canada and Mexico, as well as home to its national programs on dispute resolution, advertising review, and industry self-regulation.