The Netherlands Authority for Consumers and Markets (ACM) has taken action to ensure that crowdfunding platforms are transparent about the costs they charge. This decision comes after receiving multiple reports from consumers who were unaware that these platforms deduct a percentage from donations.

Seven major crowdfunding platforms, including Doneeractie, Doneerveilig, Geef.nl, Getfunded, GoFundMe, Steunactie, and Whydonate, have agreed to clarify their fee structures. Consumers had previously believed that using these platforms would incur no costs, only to discover later that a portion of their donations was withheld.

Edwin van Houten, Director of ACM’s Consumer Department, emphasized the importance of transparency, especially for individuals raising funds for critical needs, such as medical treatments. He stated that clear information allows consumers to make informed decisions and compare different platforms effectively.

Under the new rules, crowdfunding platforms must provide clear pricing information before fundraisers are launched. This information should be easily accessible and not hidden behind icons or links. By ensuring that users are aware of transaction costs upfront, ACM aims to prevent future disappointments.

ACM employs various strategies to address consumer issues, prioritizing consumer interests in its approach. The authority will monitor the compliance of these platforms with the new requirements through its consumer information portal, ACM ConsuWijzer, to ensure that the necessary adjustments are made.