Instagram is rolling out a new feature allowing users to raise money for personal causes. The new Personal Fundraiser is currently being tested in select countries, where it will be available via the donation sticker in the app.
The Personal Fundraiser feature will be available in the US, UK, and Ireland. Instagram stated the feature would be available starting July 23 on Android, followed by iOS.
You can raise fund for any personal cause, like for yourself, your small business, a friend or a cause that's important to you.
How to start a personal fundraiser on Instagram?
To create a Personal Fundraiser, tap “Edit Profile,” “Add Fundraiser” and then “Raise Money.” Choose a photo, select a fundraiser category and add details to help tell your story and encourage others to donate.
You will need to enter your information for Stripe, Instagram’s payment processor for donations. Tap “Send” for review. All fundraisers go through a review process to make sure they are for eligible causes. Once approved, you are ready to start raising money.
Each fundraiser lasts 30 days and can be extended more than once for 30 more days. You must be at least 18 years old to create a fundraiser.
When people donate to your fundraiser, they can choose to keep their information hidden from the public, but you will be able to see their username, name on their profile and donation amount. After your fundraiser concludes, the funds will be transferred to your designated bank account.
Why the idea of a personal fundraiser on Instagram?
Instagram said that, since January this year, people have raised more than $US 100 million for COVID-19 fundraisers globally across Instagram and Facebook. In the last 30 days, donations on Instagram have doubled in the US.These include raising funds for causes like buying medical equipment for Black Lives Matter protesters, rebuilding Black-owned small businesses affected by COVID-19 and funding educational resources related to racial justice.