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The Hidden Aspects of Online Donation

The Hidden Aspects of Online Donation

People have often found online transactions to be a convenient means of making a donation. However, there is a fine print associated that a lot of people don't know about. In most cases, when you make a credit card donation to a charitable organization, a small percentage of that goes to the bank as part of transaction fees. This means that if you meant to give a charity $100, they will get a few dollars less.

There is a certain level of comfort that people associate with making donations online through a credit card. This makes it easy and the transaction is clearly documented. But in the end, you are making some bank richer for no good reason. The thing with all credit card processors is that they levy a fee on transactions. In some cases, like in Haiti and in Japan, most MasterCard and Visa banks removed the fees for online donations. But this is for a short period of time, following which it is back. Since banks too have to survive, they make a profit on these transactions.

Here is what you can do, if you want to donate and do it the right. You could choose to ignore the fact that money is going to a mediator who has no charitable cause to their credit. This is the natural order of things in the banking line and that's how it works. Or else you could choose to put in a little extra, to make up for what will actually get cut in processing, that way you have done your bit and taken care of financial matters yourself.

Always look at newer ways to give back to society. If you are making your payment online, make sure to check for legitimacy and get your acknowledgment form that is in compliance with the IRS. Always check the background of the organization to ensure your money is going to the right places. Once you are sure, you can always make a donation online without being worried of any Income Tax issues.

Make sure you choose the right kind of organization. Look into their credentials, financials and have all of this information in writing. For those who hesitate to give you the information, it is best to steer clear of them. Making a donation, whether online or in-person is quite a satisfying option. No matter what your cause, you will feel like you have done your bit.

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