Once bank transfers are fully verified, they’ll automatically start being sent on a daily basis and can’t be paused. This is due to laws and regulations that limit the amount of time our payment processor can hold your funds. However, you can edit the frequency of transfers if you want to.
Follow these steps to update your transfer frequency:
- Select "Bank transfers"
- Select the pencil to the right of "Bank information"
- Select "Edit transfer frequency"
- Choose daily, weekly or monthly from the drop-down menu
Weekly transfers take place on Mondays and monthly transfers take place on the 1st of each month. After they've been set up, transfers take 2-5 working days to reach the bank account on file. Some accounts only have the daily setting, so if these steps don’t fit your GoFundMe account, you won't be able to select a different transfer frequency.
The first transfer will always begin the day after you’ve successfully entered your bank transfer information, unless the frequency is changed during the initial transfer set-up. Every transfer after the first one will then be sent according to the frequency you’ve chosen, as funds are received and verified.