Properly setting up your withdrawals can take some time, so it's important to plan ahead and get this process started as soon as possible to avoid any issues. Because our payment partners are online payment processors only, they are not allowed to act as a bank by holding on to your funds for long periods of time. Due to this, once the first donation is made to your fundraiser, your withdrawal information must be fully verified before 90 days have passed or your donations will be automatically refunded.
Please note, if additional verification is required, you or your beneficiary can confirm what’s needed either through an email sent from our team titled, “GoFundMe withdrawals: what you need to know,” or by clicking through the withdrawal prompts within the GoFundMe account of the person withdrawing.
In total, the process of setting up, verifying, and receiving your withdrawals can take 3-7 business days or more, depending on whether our payment processor needs additional documents. First, once you’ve entered your personal and banking information, account verification takes 1-2 business days. We will notify you if additional documents are needed for verification. Then, once your GoFundMe account is verified, withdrawals take 2-5 business days to safely reach the bank account on file.
Withdrawing funds won’t negatively affect your fundraiser at all. You can continue to accept donations and your total donations (which is displayed on your fundraiser page) will stay the same so everyone knows how much you’ve raised!
If you set up your withdrawals with Stripe, please click here to learn about withdrawal deadlines for your account.