Because GoFundMe works with online payment processors, and not banks, to transfer funds, there are a few key differences in how we process and send withdrawals. Please find answers below to questions you might be asking after setting up withdrawals.
If you would like help setting up your withdrawals, please check out this article with a helpful video.
I was sent less than the total amount I raised. Why?
Our payment processor sends funds to your bank account as they are being processed. Your first withdrawal may not contain the full amount of funds you’ve raised because your recent donations are still processing.
Why are you charging so many fees?
While there is no cost to an organizer to set up a personal fundraiser, in the US, Canada, Australia, the UK, and most major European countries, there is a transaction fee (which includes debit and credit charges) that applies to each donation. The total funds available for withdrawal by the fundraiser beneficiary are the full amount raised minus the transaction fees. Pricing by country and currency can be seen on our pricing page here.
If you receive your first withdrawal and it is much less than what you expected to receive, this is likely due to donation processing times and not because GoFundMe is deducting additional fees. You will receive the remainder of your funds, minus the transaction fees, in subsequent withdrawals.
I don’t want to withdraw my money yet. Can I pick a date?
The three frequencies that we offer are daily, weekly, and monthly. Weekly withdrawals will initiate on Mondays, and monthly withdrawals will initiate on the 1st of each month. If you don’t want to receive your funds right away, choosing a different withdrawal frequency is a good alternative. Keep in mind, all transfers will take up to 5 business days to arrive once sent.
Note: In Canada, only daily transfers are available for certain accounts.
Can I pick how much I’d like to withdraw at a time?
Your full available balance will include any donations that have processed completely and are able to be withdrawn.