Starting today, some Instagrammers can run fundraisers for a cause that’s important to them, themselves, their small business or a friend. It’s effectively a take on GoFundMe directly within the app. Instagram is initially testing the Personal Fundraiser feature in the US, UK and Ireland, and it follows Facebook rolling out a similar function in March.
To create a personal fundraiser on Instagram, edit your profile, tap “add fundraiser,” and then select “raise money.” You’ll then have to categorize the fundraiser, add details, select a photo to use, and then enter your payment info through Stripe. All fundraisers will then be submitted for Instagram’s review before going live. (You can check out the rules around personal fundraising here.)
Fundraisers will last for 30 days from when they go live, although they can be extended as many times as creators want. Creators have to be 18 years old to run a fundraiser. Donors can choose to be anonymous to the public, but campaign creators will be able to see their username, profile name, and donation amount.
If you choose to donate to a personal fundraiser, you can remain anonymous from the public. The creator can still see your Instagram username, the name that’s on your profile and how much you donated. Creators will start receiving eligible payments from their fundraisers six days after the first donation. Those funds may be taxable, however.
People who run personal fundraisers on Facebook have to pay a per-donation processing fee and the same fee structure applies to Instagram and doesn’t make any money from fundraisers.
Instagram says it’ll expand the feature in the US, UK and Ireland in the coming months, and it’ll make it easier for people to share their fundraiser in their stories and feed. Still, given the success of its nonprofit donation stickers, it wouldn’t be surprising to see Instagram roll this out to other territories in the future.
