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What to consider when adding a beneficiary

If your fundraiser was created to raise money for someone else, you will have the option to add that person as the beneficiary. This means they will be able to have the funds transferred directly to their own bank account, and you will not need to set up that part of the bank tranfer process. 

Agent

Hello there, it's Bethany here. We’re so glad that you were able to raise funds for someone that you care about, but it is very important to make sure that the person you are adding as the beneficiary is ready and able to take on the responsibility of setting up bank transfers.

The process is fairly simple and we recommend adding the final recipient of the funds as the beneficiary, but if your beneficiary is going through a tough or busy time and they don’t want to be responsible for transferring funds, it may be best for you to receive the funds on their behalf.

Then you can give them the funds outside of GoFundMe. If you do receive funds on behalf of your beneficiary then we strongly recommend adding details to your fundraiser story to clarify how you will be transferring the funds, to provide transparency to donors. In this article, we'll share a few things to consider when adding a beneficiary.

 

Secure transfer of funds

Adding a beneficiary is the fastest and most secure way to get funds to the intended recipient.  It also provides transparency and instills a sense of trust among donors.

By adding the beneficiary, you are allowing them to connect their own bank details through their own GoFundMe account. This means that you won’t have to worry about handling the funds yourself and your beneficiary will be able to put them to use as soon as they reach their bank account.

However, for security reasons, it is very important to make sure that you know your beneficiary personally. Please review this article if a stranger contacts you and asks to be added as your beneficiary.

Your beneficiary’s name will be displayed on your fundraiser page, so your donors will understand exactly who the funds are going to, which provides transparency and a deeper sense of trust.

The beneficiary will add their own bank details, so funds will not go through your account

For the beneficiary, setting up bank transfers involves adding their personal and bank information, and could require them to upload documents to be reviewed and verified by our payment partner. Our support team will be available to help them every step of the way, but please bear in mind that as soon your beneficiary accepts their invitation, an account will be created for them using their personal email. Their GoFundMe account is separate from yours, so you won’t be able to assist them from within your account. 

If your beneficiary has already set up withdrawals and is having trouble receiving funds, please see this article for more information.

The beneficiary’s name will be displayed on your fundraiser page

Your fundraiser page will show that you are raising funds on behalf of your beneficiary. If your beneficiary is concerned about their name being displayed publicly for safety or privacy reasons, it might be better for you to set up the transfers on their behalf. Another option would be for them to use a nickname when setting up their GoFundMe account, as long as they use their full, legal name when setting up their bank transfers (which will be kept private), consistent with GoFundMe’s Terms of Services and Privacy Notice.

You cannot add a service provider as the beneficiary

If your fundraiser is raising funds to pay for some sort of service, such as a funeral or tuition fees, you will still need an individual to receive the funds. You cannot add the funeral directors or educational institution as the beneficiary, so you or your beneficiary will need to receive the funds personally and then transfer the funds to the service provider outside of GoFundMe. 

Only one beneficiary can be added to a fundraiser

It is not possible for more than one bank account to receive funds from a fundraiser. If the funds are meant to be split between more than one recipient, it would be best for you to receive the funds yourself and send them to the recipients outside of GoFundMe.

If you have added a beneficiary and they are no longer able to add their bank account, please complete this form and our team will help you. You can also read this article for more information about that process.

Watch this video to learn how to add a beneficiary:

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