Who is Stripe?
Stripe is our partner who processes payments for accounts in Australia (before October 8th, 2018) and select European countries.
If you are in a country supported by Stripe, a Stripe account will automatically be created for you when you sign up on GoFundMe. You'll know if your account is connected to Stripe because you will receive an activation email from them after signing up.
How does Stripe work?
Your Stripe account has to be activated within 7 days of receiving your first donation. Activation includes verifying your personal information such as your name, address, personal tax ID number and bank account.
You can either withdraw these funds directly to your own bank account first if the funds are for you, or enter your beneficiary's bank information so they can receive the funds directly. Please note that once you add a bank account to Stripe, all future campaigns created in your account will be tied to this account.
Once a bank account is added, funds will automatically be sent to your bank account on a rolling 7-day basis. For example, a donation received on Monday would deposit the following Monday. If you are in Australia, your funds will be sent on a 2-day rolling basis. So if you received a donation on Monday, it would be deposited the following Wednesday.
Important: Be sure activate your Stripe account as soon as possible!
- If you don't activate within 7 days of your first donation, your campaign will stop accepting new donations.
- If you don't activate within 21 days of your first donation, all donations to your campaign will be refunded.
To read more about Stripe and how it works with GoFundMe, read their GoFundMe FAQ here.
How do I update my bank account on Stripe?
Once you've activated your Stripe account and added your bank information, you can follow these steps to update your bank account:
1. Sign in to your Stripe account at this link.
2. On the left-hand menu bar, select “Balance” and then "Settings"
3. Select "Edit"
4. Enter the new bank account information in the fields
5. Choose "Update Bank Account" to save
6. To close the window, select "Done" in the bottom-right corner
If you have any questions about Stripe after reading this article, or if you're not sure what payment partner your account is set up with, please contact our team using the Contact button below.