So, first: I agree with patio11. But past that, this thread also bugs me because it is so ill-informed: the very first question that has to be asked is "what is the distribution of donation amounts", as the way to minimize processing fees of "we got one donor who gives almost $2k, and then a handful of people we choose not to turn away who give a few dollars each" is very different than how you handle "we have $2k donors, they all give a dollar". PayPal's micropayment fees are $0.05+5%, which is a massive difference from the default $0.30+2.9% quoted.

And if you have only one really large donors, you get them to give you a check. And then you put their name somewhere. And you send them some thank you letters. And you ask for their advice on how to talk to their friends, as maybe they might also want to donate. Because patio11 is just dead-on right: it is more useful to increase the incoming money here, not avoid losing some fees :/. But again: even if we choose to nitpick fees... this conversation is still going nowhere if the distribution of donations and the process of receiving them (if you have mostly random donations, having them do bank transfers is going to massively increase the loss rate ;P) is not where the discussion started.