John Blackmore - 29th Aug, 2023
Whenever someone makes a donation on a Wonderful.org fundraising page, the payment is transferred directly from the donor's bank account to the charity's bank account. This process is known as an instant bank transfer and is made possible by Open Banking.
Open Banking is a new way for payments to be made quickly and securely from any computer or mobile device.
The donation is handled by Wonderful (wonderful.co.uk), and each payment is authorised by the donor's own Mobile Banking app or Online Banking facility, which improves donor confidence and allows the platform to offer 100% free fundraising at scale. This type of transaction is known as an instant bank payment (also sometimes called "Pay by Bank").
To see an up to date list of all banks supported by Wonderful (for payment and receipt), please visit https://wonderful.co.uk/supported-banks. You can also add banks you would like to see integrated via this page.
Wonderful does not support payments via credit or debit card. Instead, donors make direct and secure payments using their own Mobile or Online Banking service as described above. The high cost associated with traditional credit and debit card donations is prohibitive for charities and punitive for businesses, which is why Wonderful is a fantastic option both for merchants and charity fundraising.
Wonderful currently only supports UK banks, but will likely expand to cover the EU and other countries which support Open Banking in due course.
For more information about Open Banking technology, take a look at our simple guide.
