Need cash? Facebook expands personal fundraising tools

Need cash? Facebook expands personal fundraising tools

NEW YORK -- Facebook is expanding its fundraising 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 fundraising services such as GoFundMe, since March.

With the latest update unveiled Wednesday, it has added sports and community fundraisers 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 fundraiser, scroll down the "menu" icon on mobile until you get to the "fundraisers" category. On desktop, visit facebook.com/fundraisers. Facebook said it will review all fundraisers within 24 hours.

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