Patreon changing processing fees (Patreon)
Content
It seems Patreon has decided to change the way it charges processing fees... (Starting from 18th December).
Currently, the way they do it is they charge 5% for their own fees, then the credit card companies charge processing fees that vary around 6.5%-9%. There's also a flat charge from paypal for transferring funds from Patreon to Paypal. For simplicities sake, I just assume I get about 85% of each pledge.
Now, they are planning to change the payment model so that they get rid of the credit card fees and charge 2.9% + $0.35 per transaction. Obviously this will make a bigger difference if we continue the per/transaction (chapter) model. (Three charges at $0.35 instead of just once)
I don't want to see you guys get hit with unnecessary charges, so I'm thinking about shifting to a per/month model instead of the per/chapter model. I'd aim to always release at least 2 chapters a month (accounting for the occasional illnesses/holiday/eBook editing), but more likely 3 as usual.
Should I just convert the current pledge tiers so that they're on a per/month basis?
If so, what should I charge for the lowest tiers?
$1/month to get access to Patron posts
$3/month to get access to Patron posts + chapters?
$6/month to get access to Patron posts + chapters + artwork?
Interested to hear your thoughts...
Tefler
P.S. For this month I'm aiming to release 2 chapters, one on about the 15th (before the processing changes come into effect) and one after (I'll try and aim for a second chapter before xmas). If I do switch to a per/month model, it would come into effect from January onwards.
The second eBook is done, I just need to wait for the cover art to be completed!