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Need cash? Facebook expands personal fund-raising tools

LiveMint logoLiveMint 25-05-2017 AP

New York: Facebook is expanding its fund-raising tools that let users ask friends and strangers to give them money to help pay for education, medical or other expenses.

The company has been testing the tool, which is similar to online fund-raising services such as GoFundMe, since March.

With the latest update unveiled on Wednesday, it has added sports and community fund-raisers as options. It’s also possible to raise money for medical expenses for pets, crisis relief, funerals, and a slew of other categories.

To start a fund-raiser, scroll down the “menu” icon on mobile until you get to the “fund-raisers” category. On desktop, visit . Facebook says it will review all fund-raisers within 24 hours.

There is a fee of 6.9% of the total amount raised plus 30 cents for payment processing, vetting and security.

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