Choosing the right withdrawal type allows your funds to arrive smoothly. Once clicking “Withdraw” on your fundraiser dashboard, there are a couple of options to choose from, depending on where funds are being sent.
Who will withdraw the funds - Myself vs Someone Else
- Myself: Choosing “Myself” means that you will be either withdrawing to your own bank account (if you are 18 or older) or withdrawing to an organization's bank account that you manage money for (you must be a financial administrator for the organization to add the organization's banking information). Do not select "Myself" and then add another individual's personal banking information.
- Someone else: Choosing "Someone else" means that funds will be withdrawn to someone else’s bank account or to an organization’s bank account that someone else manages. This option lets you add that person as your beneficiary, giving them sole withdrawal control, allowing them to enter their withdrawal information directly.
Choose wisely! Only one person can withdraw funds from each fundraiser, and an added beneficiary’s consent would be required in order to remove them.
To withdraw funds, one will need to meet the withdrawal requirements.
What type of withdrawal entity is right for you - Personal vs Organization
- Personal: This means that an individual will be withdrawing to their own bank account.
- Limited liability company, Partnership, Corporation, Nonprofit Corporation, Unincorporated association, or Sole Proprietor: This means funds are going to an organization’s bank account. Each organization or company will fall into one of these non-personal structures. Choosing the appropriate option allows the organization’s financial administrator to add the organization’s bank account.