Online Banking Bill Payment
* Online bill payment via 5 major
Canadian banks
* $0.25 flat fee per transaction
regardless of amount
* Cheapest option. Maximum
amount to creatives
* No holds
* Terms & Conditions applies
Telpay
* Trusted Canadian online
payment company
* $0.5 flat fee per transaction
regardless of amount
* Available to client of most
financial institutions in Canada
* No holds
* Terms & Conditions applies
Paypal / Credit Card
* Convenient and widely used
* 2.9% + $0.30 (Canada & U.S.)
per payment / donation
* Foreign payments subject to
Paypal’s foreign xch rate & fees
* 30 days holds or until security
check is completed
Remittance Fees to Creatives
| Remittance Method | Admin & Processing Cost |
|---|---|
| Biweekly scheduled payments (Standard Canadian if minimum of $50 reached) |
$0.99 |
| Rush 48 hours (with verified banking and related personal information) | $3.00 |
| To U.S. > $5,000 (Standard U.S.) | $0.99 |
| To U.S. < $5,000 | $3.00 |
| International (exchange rate at cost per processing co.) | $3.00 |
Fees: Major Platform vs Kreytor
Compared to 5% to 9% fees for major platforms such as Kickstarter, GoFundMe, Indiegogo, & Patreon:
| Total Funds Raised | Major Platform | Kreytor: | ||
|---|---|---|---|---|
| Standard U.S. & Canada |
Non-Std & Others |
|||
| $100.00 | $5.00 to $9.00 | $0.99 | $3.00 | |
| $500.00 | $25.00 to $45.00 | $0.99 | $3.00 | |
| $5,000.00 | $250.00 to $450.00 | $0.99 | $3.00 | |
| $50,000.00 | $2,500.00 to $4,500.00 | $0.99 | $3.00 | |
| $100,000.00 | $5,000.00 to $9,000.00 | $0.99 | $3.00 | |
Stock Photos / Footage / Sounds & Music
Prices are set by the creator of the stock assets. e.g. Allows Pay-what-you-want (PWYW) / Pay-what-you-can afford (PWYCA), or the creatives set their own price to allow commercial use, and provide high resolution copy &/or non-watermarked version, etc.
The bottom line is the creatives choose & control the use of their works and get all the profit directly, not just a small % share of the profit. Payment processing fees at cost and very minimal administration cost as per fee schedule above.
Payment / Donation Transaction Cost Comparisons (U.S. & Canada)
All payment processing fees are at cost with no markup or profit
| Payment / Donation Amount | Paypal / Credit Card | Telpay | Bank's Bill Payment |
|---|---|---|---|
| $5.00 | $0.45 | $0.50 | $0.25 |
| $10.00 | $0.59 | $0.50 | $0.25 |
| $100.00 | $3.20 | $0.50 | $0.25 |
| $500.00 | $14.80 | $0.50 | $0.25 |
| $5,000.00 | $145.30 | $0.50 | $0.25 |