enlit3d
patreon
Pledge Fee Changes (By Patreon)
🕑 Added 2017-12-06 20:18:20 +0000 UTC UPDATE: Patreon decided against rolling out the payment changes: https://blog.patreon.com/not-rolling-out-fees-changeSo I received an email earlier from Patreon giving notice that it will change how the processing fee is handled. The relevant section of the email is replicated below.
Basically, the current (old) structure is that whenever you pledge, say, $5 to me, I actually don't receive the full amount. Patreon takes 5% and then there is this processing fee taken by payment processors. So on average, for each dollar pledged to me, I only get around ~88% of that amount.
Now Patreon is changing it's pledge system with the tagline "Creators now take home exactly 95%." That is good news right? Unfortunately the processing fee still needs to be paid by someone, and this time, Patreon decides that patrons (you) will bear the cost.
With the new system, when you pledge, you will pay this extra payment processing fee. This fee is set by Patreon to be 2.9% + $0.35. So for example, when you pledge $5 to me, you will actually pay a bit more than that. In the $5 case, you have to pay $5.495. But on the other hand, I will take home "exactly 95%" of $5, instead of a varying amount due to processing fees.
I have also calculated the extra cost for a couple different pledge amounts:
- $0.379 on $1 pledge
- $0.495 on a $5 pledge
- $0.64 on a $10 pledge
- $0.785 on $15 pledge
Now, this change is quite sudden in my opinion (effective 2 weeks from now), and I have only just gotten notice, so I don't know if everyone will be happy with the new structure. I am happy to hear your thoughts and perhaps try to work something out.
Email from Patreon:
Comments
Kian
Im ok with the new fee structure as long as it does not get worse. Around 3% tax is ok but if one day i will be paying double or even a quarter more because of fees then well :/........
Frank Baum
Thank you for the heads up! I have no problem with this.
KitterKat234
Haha ok I'm obviously being completely sarcastic but I appreciate the notice. If this effects your page at all I'll be very surprised at the cheap pervs who leave :-P
KitterKat234
Oh no, think of the support that will be lost when people have to pay less than $1 on most of their supports! Idk, man. This sounds like the end of Patreon. It might break my bank to pay a few cents extra...
I guess we'll just have to wait and see what other content creators do with their pledge tiers. If the majority of creators decide not to change their tiers, I don't think anyone would have any gripes with you if you keep it the same. Personally it makes no sense to me because I would assume that nice round numbers are more enticing to patrons and should be given to the patrons, but what do I know.
Your Best Friend
I got your back regardless... so long as I don't start suddenly seeing pledge costs doubling cause of "hidden fees." Then again with the FCC planning to rip the internet a new one, I might have to reconsider the internet in its entirety. Though I suppose it's up the developer right? Idk how much leeway this system gives you but you could just input the formula in excel to calculate how much you would need to change the tiers to to charge exactly what they are now.
Anthony Thomas
sounds like imma have to chill on my pateron support lol
Enlit3D
To be fair to Patreon, they do plan to send out emails to all the pledgers tomorrow. The creators just get the email first so I want to give everybody a heads up.
WeaponizedJerk
That's the kind of thing I'd like patreon themselves to inform me, NOT one of the creators I follow. And I can't say I really like that change, if I pledge 5$ then I'd like the pledge that amount, excluding tax ofc. Now I have to pay freaking fees on top of it? I guess now is the time to start cutting down on the number of patreons I pledge to. Don't worry I have absolutely no plans of dropping support towards you, I'm far too happy with your work :) Thanks for letting us know! Again, since it affect the patrons they could have at least sent us an email, but hey here we are.
BoogerBrigade
Either having patrons pay more or publishers earn less... Sick move.
pedro
We should all bow to our master :p
