The Basics
1. What is Sixpence?
Sixpence is the roundup crowdfunding platform, a platform meant to turn your fundraising into an easy, daily part of your supporters’ lives.
Through Sixpence, donors can support your campaign or organization through roundups to the nearest dollar on their daily purchases. While this may seem insignificant, the average Sixpence user donates roughly $25 a month!
2. I’m fundraising. Why should I use Sixpence instead of other methods?
There are plenty of answers to this question, depending on the cause you’re fundraising for, how large your target fundraise amount is, and other factors. However, in a general sense, Sixpence is extremely useful for increasing the consistency and lifetime of donations to your cause.
Our preliminary research has shown that 26% of Millennial Americans most prefer roundups as a method of giving, versus only 15% who prefer recurring donations, (the rest preferring one-time lump sum donations, a less-preferred donation method for fundraisers due to poor sustainably and consistency).
Additionally, roughly 65% of millennial Americans have refrained from donating to a cause or organization that they otherwise supported because of personal financial limitations, while 27% openly recognize they’ve refrained from giving just because the overall amount needed massively dwarfed what they could afford to give (the plague of futility thinking). This shows a significant degree of promise for the usefulness of a roundup option for those engaged in fundraising.
The roundup option takes numbers and affordability out of the equation. It turns the question of support into a simple yes or no button.
For further examples of why Sixpence is useful for specific varying contexts, feel free to check out our blogs.
3. When can I use Sixpence?
iOS users, you can use Sixpence now!
Android users, for now you have to get on our waitlist:
You can also create a campaign now as well.
4. Does Sixpence cost anything?
There is no upfront fee to utilize Sixpence for donations or to create a campaign. However, our facilitation fees is 5.5% of donation totals, to be charged from campaign owners’ raised funds.
Processing fees (we don’t like them either, but we need their services) are an additional 1%-4%, depending on the size of your withdrawals of funds raised.
We’re offering some early adopters waivers on our 5.5% fees for initial funds raised. Email us to see if you qualify!
5. How do I create an account and donate?
If on an iOS device, you can create an account after installing the Sixpence app. (Android users on our waitlist, you will receive an email inviting you to our Android app when it launches.)
Once you’ve opened the app, follow instructions to create an account username and password. Attach your bank card (with bank-level security provided by Plaid). You can use your account to contribute to any campaign. If you’d like to create a campaign yourself, do so here.
6. Which countries can I use Sixpence in?
We currently only offer service in the United States.
7. Which devices can I use Sixpence on?
For the current open beta, you can use iOS devices. We are working on making the Sixpence platform compatible with desktop/laptop and Android. Android and web app versions should be available in April!
8. I have a question. Who should I contact for help?
You can contact us here.
Campaign Creators
1. What can my campaign be for?
Just about any cause that you wish to fundraise for. We expect to have two primary categories emerge.
- Personal campaigns. Examples:
- Overwhelming medical bills
- Mission trips
- Volunteer fundraising
- Community emergency support
- Youth sports teams
- Nonprofits/Organizations. Examples:
- Schools and teachers
- Churches and other religious organizations
- Medical research
- Local shelters and food drives
- Fraternities, sororities, and clubs
2. How can I start a campaign?
Begin by completing the form here. The Sixpence team will be in touch with you shortly to facilitate the creation of your campaign.
3. How many campaigns can I have at one time?
There is currently no limit on the number of campaigns one individual or organization can create. These campaigns will all fall under your single personal/organizational profile, though.
4. Can someone set up a campaign on my behalf?
Yes. However, Sixpence sends the money to the campaign creator, and thus has limited control in ensuring that contributions go to a secondary recipient. If you detect fraud or “fake causes,” please report them to Sixpence immediately.
5. If so, how do I receive the funds?
That should be arranged between you and the person who created the campaign for you. Again, if someone has created a “fake cause,” please report them to Sixpence.
6. How will my information be kept secure?
We use a third-party app called Plaid, which secures all user bank data. This servicer is also used by such well-known apps as Venmo, Robinhood, and Acorns.
7. How do I withdraw money from my campaign?
In the near future, we’ll have a digital withdrawal process on our web app. Additionally, for non-profits we will provide an automated Stripe transaction option. In the meantime, we will wire the funds to you.
This falls under campaign management, all of which will happen over email until we’ve established the campaign creator web-app for more streamlined campaign management.
8. Are there deadlines or time limits?
Nope! Just be aware that your donors can end their donations at any time.
9. What if I don’t hit my goal?
No worries! We don’t require that you hit your goal to collect funds. However, to minimize the size of processing fees and prevent abuse of microtransactions, we do require a $75 minimum for withdrawals.
10. Can I make my campaign private?
Yes. At any time, we can take an active campaign off of public display. However, to do so you will need to contact team@sixpenceapp.com.
11. How do I update my campaign page?
All of this is done through email communication currently. This will change when the campaign management web app is established.
Donors
1. How do I donate to a campaign?
Attach your bank card to your account, which is secured by a third-party facilitator called Plaid. Then subscribe to a campaign page (or up to five), and go about your day knowing any purchases made with your card in the United States will round up to the nearest dollar — that spare change goes to the campaign(s) you’ve subscribed to. You can pause or end donations at any time and set a monthly cap for your roundups if they add up faster than you feel you can afford.
In addition to the roundup option, you will soon also be able to contribute lump sums or baseline recurring donations.
2. Do I need an account to donate?
Yes, because your card must be attached in order to facilitate a transaction.
3. What if I want to cap the amount donated?
You can set a cap in your “Settings”, under “Wallet Configuration”.
4. Can I stop my donations at any time?
Yes. Your account will not collect donations if you do not have campaigns selected to support. Additionally, you may stop donations by turning off withdrawals in the “Settings” portion of the app or pausing a card from recording roundups.
5. Can I donate to more than one campaign?
You may donate to a maximum of five campaigns at a time.
6. How will my information be kept secure?
We use a third-party app called Plaid, which secures all user bank data. No financial information is kept on Sixpence servers. Additionally, all personal information stored on Sixpence servers is encrypted.
7. Can I make anonymous donations?
Not yet, but this will be a feature to be added in the beta.
8. Is my donation tax deductible?
This depends on whether the cause you’re contributing to is a registered 501(c)3 nonprofit or not. We will send nonprofits statements at the end of the year summarizing who donated to their campaign and how much they gave. It will be up to you to claim these donations on your tax filing and up to the organization to provide any necessary tax /donation documentation.
9. How do I contact the campaigner?
If the campaigner is open to contact, they may leave their contact info on their campaign page. We will be adding a messaging option within the app in the open beta as well.