PayPal Giving Fund to replace (and finance) Missionfish
Missionfish is to be renamed “PayPal Giving Fund” and the Missionfish brand will fade away in the near future. This might seem like a minor change to the charity which collects and distributes funds every time you buy, sell on behalf of a charity or donate at checkout.
It goes much deeper than a name change though, as of today, 100% of donations made through eBay for Charity (and any other donations that they collect) will be passed on to eBay users’ chosen charities. In the past Missionfish would have taken a small cut of donations towards running costs.
Moving forward PayPal will pick up the tab for all of the operating costs for MissionFish. eBay already match a seller’s donation waiving the same proportion of the seller fees as the seller chooses to donate. Missionfish have also always added Gift Aid where the seller indicates they’re a tax payer, this boosts donations by an additional 20%.
Apart from minor changes (such as reflecting the name change on Bank Statements), eBay for Charity intend to remove the minimum £1 per listing donation threshold, allowing sellers with lower priced items to use eBay for Charity to support their favourite causes. They will also introduce a threshold for pay-outs of £5 to keep admin cost low. However they will pay out any outstanding donations, however small, to charities at least once every three months limiting the amount of time they hold on to any donation.
This is great news for charities as it means for the first time all of the funds generated through eBay selling activity will go to the good causes.