This article provides a step by step guide for setting up bank transfers from your fundraiser to a bank account.
Hi, I'm Kath! I have some important information about your bank transfers.
- In some cases, we may require documentation, such as a photo ID or bank statement, to ensure that the money is safely being transferred to the right person. You can learn more here.
- We recommend you start the transfer process as soon as possible, but at least one week before you need the funds. Once transfers are set up, they will take on average 2 - 5 business days to reach your bank account. You can learn more here.
- Transfers must be completely verified within 90 days of your first donation; otherwise, all donations that haven’t been sent will be returned to your donors. This process often takes multiple days, so do not wait until your 90th day. You can learn more here.
- Once you set up transfers you can still receive donations. Donations will be sent to your bank account at the frequency you choose: Daily, weekly or monthly (some accounts only have the daily setting). You can learn more here.
How to set up bank transfers
Step 1: Select “Bank transfer” on your fundraiser dashboard
If you don’t see the bank transfers button, you are likely a team member, or have a certified charity fundraiser and are not in charge of the transfers.
Step 2: Confirm your email
Step 3: Verify your phone number
This is an important security feature, and it’s just one of the ways we are protecting your information. If you are having trouble verifying your phone number, please check out this article.
Note: Enter the 5-digit code contained within the message, and not the 6-digit number the code is sent from.
Step 4: Select transfer type
This is where you will choose whose bank account the funds are going to. You'll need to make two choices: who will receive the funds, and what type of bank account the funds will go to.
Who will receive the funds?
- Myself: Funds will be sent directly to your own bank account
- Someone Else: Funds will be sent to someone else's bank account. We call that person a beneficiary, and they will connect their own bank account. If you select this option, you will send them an email invitation to receive the funds, and your portion of the transfer process will be complete.
Before adding a beneficiary, please make sure they:
What type of bank account?
The options are either a personal bank account, or a company/ partnership bank account*.
Regardless of whether you selected "myself" or "someone else" in the first section, you still need to use this section to let us know what type of account the person receiving funds will be using.
* Transferring to an organization has specific requirements. Please continue the process in this article.
Step 5: Add your identity details
It is very important that you enter your fill name and physical address (not a PO box) exactly as it shows on your current government issued photo ID.
Do not enter an abbreviated name of a nickname, for example, Jon vs Jonathan, because this will prevent our payment partner from verifying your information.
Our payment partner will need to verify the information exactly as it appears on your documents, but your transfer information is not displayed publicly on your fundraiser page; if you prefer to go by a different name in public, you can still do so.
Step 6: Add your bank details
If you are in the US or Canada, you will have the option of using instant verification, which allows you to connect your bank by logging into your bank account online.
If you manually add your bank information instead of using instant verification, you'll need to know your bank account number and routing information. If you don't know this information, you can usually find it in your online banking portal or on a check.
It’s very important that you enter your bank information correctly the first time. Here are some items to be aware of:
- Include any 0's at the beginning of your account number, if there are any
- Use the routing number for ACT, EFT, or direct deposit. Do not use the routing number for wire transfers
- For European bank accounts, the IBAN will need to include capital letters without spaces
- The name you entered when filling out personal information must match the owner of the bank account. Do not fill out your personal information and then someone else’s banking information. If the name on your ID doesn’t match the name on your bank statement, check out this article for more information.
- If you are concerned your bank information is incorrect, contact your bank before you set up transfers
- Transfers to savings accounts sometimes fail, so we recommend using a checking account
Potential Step 7: Upload documents for verification
To ensure that the funds reach the right person and account, we may ask for a government issued photo ID, and/or a bank document. If we need these documents, we will either:
- Send an email titled “Action required - upload documents” or “Action Required: Transfer setup failed”
- Add a note at the top of your account when you click on “Bank transfers”
Note: Documents may be required even after you have started receiving funds. You can learn more about that here.