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How to withdraw funds

This article provides a step by step guide for setting up withdrawals from your fundraiser to a bank account.

Here are some important things to know about withdrawing money. 

      • We’ll need some information about you and your bank account.  In some cases, we may require some 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 withdrawal process as soon as possible, but at least one week before you need the funds. Once withdrawals are set up transfers will take on average 2 - 5 business days to reach your bank account.  You can learn more here.  
      • Withdrawals must be completely verified within 90 days of your first donation; otherwise, all donations that haven’t yet been withdrawn will be returned to your donors.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 withdrawals 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 withdrawals: 

Steps 1 - 4 will be completed by all campaign organizers. Sign into your GoFundMe account and click “manage” on the fundraiser you’d like to withdraw from.

Step 1:  Select “Withdraw” on your fundraiser dashboard (or "Bank transfer" if you're using the GoFundMe app)

If you don’t see the option to withdraw (shown below), you are likely a team member, or have a certified charity fundraiser and are not in charge of the withdrawals.

withdraw_icon.png

Step 2: Confirm your email

If you haven’t already done so, you will need to confirm your email by clicking “verify email” in the message titled "Verify your GoFundMe email address".

Click here if you are having trouble with the verification email. 

Step 3: Verify your phone number

If you haven’t already done so,  you’ll be prompted to verify your phone number. This is an important security feature called Multi-Factor Authentication and it’s just one of the ways we are protecting your information. In some circumstances, it may also allow us to send you important reminders about your account, such as a reminder that your withdrawals have not been successfully set up so donations may be returned to donors.

Note: Enter the 5-digit code contained within the message, and not the 6-digit number the code is sent from. 

If you are having trouble verifying your phone number, please check out this article.

Step 4: Select withdrawal type

This section asks whose bank account will receive the funds. This might be different from who will ultimately use the funds. Let’s take a look at those options below:

If withdrawals are going to:

Then select: 

Then select:

Who will withdraw the funds?

What type of entity withdrawal is right for you?”

Your own, personal bank account

Note: Do not add another individual’s banking information. 

Myself

Personal 

An organization’s bank account that you manage *

Note: You must be a financial administrator of the organization’s banking information.

Myself 

Company or Partnership (you can select either)

Another individual’s personal bank account

Someone Else**

Personal

An organization’s bank account that someone else manages* 

Someone Else 

Company or Partnership

A charity 

This will go directly to PayPal Giving Fund. Learn more about what to do here.

* Withdrawing to an organization has specific requirements. Please continue the process in this article

**When someone other than the organizer is going to withdraw, we call them a beneficiary. They will be responsible for the withdrawal steps 5 - 7 if you select “someone else” in step 4. Before you select this option, consider if this person: 

  • Meets the requirements to withdraw 
  • Is located the same supported country that the fundraiser is raising funds in 
  • Is ready to take this on. While changing the beneficiary is an option, it requires consent from both you and  the original beneficiary. 

You can learn more about the  beneficiary process here. Select European countries will not have the option of adding a beneficiary. Please check step 2 of this article for more information.

Steps 5 - 7  will be completed by the person receiving the funds in their personal bank account. 

Step 5: Add your personal information 

This information is used by our payment processor to ensure that funds are sent safely to the intended recipient. Please keep the following in mind: 

  • Enter your name and physical address exactly as it shows on your current government-issued ID. Do not enter an abbreviated name or a nickname. Example: Jon and Jonathan. If your ID, address or name are not perfect matches, review this article
  • Do not enter a PO Box for an address. If you only use a PO Box, please review this article.
  • If you are in the US, enter the correct 2 letter state abbreviation. Example: Arizona is AZ 

Step 6: Add your bank Information

If you are in the US or Canada, we recommend that you use the option to connect your banking information by logging into your online bank account. This service is provided by a partner, Trustly, and is our most secure and efficient way to get your funds to your bank account. You can learn more about Trustly here.

If you decide to manually add your bank information, you can find it in two places: 

  1. Online banking portal or app: You can often find this information after logging in on your account details page 
    • Routing: Ensure that the routing number is for ACH, EFT, direct deposit. Do not use the routing number for wire transfers. 
    • Account:  Include any 0s at the beginning of your account number.
  2. A check
    • Routing: This is a 9 digit number 
    • Account: Include any 0s at the beginning of your account number.

It’s very important that you enter your bank information correctly the first time. Here are some items to be aware of: 

  • Make sure the name you entered when filling out the personal information matches 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 withdrawals.
  • Withdrawals to savings accounts sometimes fail, so we recommend using a checking account.

If you receive an “Error” message: 

Before contacting our team, check for the following and review this article: Trouble uploading documents

  • Routing number: In the US, routing numbers are exactly 9 digits. You can find this on a check or, often, online. If you can’t find it in either place, we recommend you contact your bank before setting up withdrawals. 
  • State or Province Code: This will be just 2 letters. For example, if you are in Arizona, it will be “AZ”. If you are in Alberta, it will be “AB”
  • Address: All addresses must start with a number and cannot be a PO Box 
  • IBAN: For European bank accounts, the IBAN will need to include capital letters without spaces

 

Kath

Hi, I'm Kath! I have some important information about your withdrawals.

If you have followed along with the steps up until this point, then you have entered the information needed to start withdrawals, and if we don’t need additional information, your withdrawals will begin the following business day. But, there are a few additional things to know about receiving funds:

 

  • Withdrawals will be sent to you daily for verified donations in your account. You can learn more here you want to change the frequency of your withdrawals. Please note, you are not able to request specific withdrawal dates or amounts
  • If your account displays "N/A" for scheduled withdrawals, not to worry, those funds are likely processing, and your account will update once the first withdrawal initiates
  • Your fundraiser’s “Total Amount Raised” will not decrease even when you’ve started to withdraw.
  • You can continue to receive new donations as you withdraw
  • Please keep an eye on your email. If we need more information about your bank or identity, we may ask you to share some documentation. The step below walks you through that, and you can find more detailed information here

 

Potential Step 7: Upload documents for verification

To ensure that the funds reach the right person and account, we may ask for documentation to verify your identity or bank account. If we need these documents, we will: 

  • Send an email titled “Action required - upload documents” or “Action Required: Withdrawal setup failed” 
  • Add a note at the top of your account when you click on “Withdraw”

When you click on “Withdraw” you’ll be prompted to upload documents. Necessary documents may vary from situation to situation but will likely include: 

  • A government issued ID
  • A bank statement (or other accepted bank document)

Note: Documents may be required even after you have started receiving funds. You can learn more about that here.

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