Once bank transfers are fully verified, they’ll automatically start to send on a daily frequency and can’t be paused. This is due to laws and regulations that limit the amount of time our payment processor can hold your funds. However, if your fundraiser is linked to our payment partner Adyen, you can edit the frequency of transfers if you’d like. At this time, fundraisers linked to our payment partner Stripe are not able to edit the frequency of transfers.
Follow these steps to update your transfer frequency with Adyen:
- Select “Transfers" tab from the vertical menu on the left
- Select the button to the right of "Next payout" (It will display your current choice of frequency.)
- Choose your preference and save changes
Weekly transfers initiate on Mondays, and monthly transfers initiate on the 1st of each month. Once initiated, transfers take 2-5 business days to reach the bank account on file. Some accounts only have the daily setting, so if these steps don’t fit your GoFundMe account, you won't be able to select an alternate transfer frequency.
The first transfer will always initiate the day after you’ve successfully entered your bank transfer information. Every transfer after the first will then send according to the frequency you’ve chosen, as funds are received and verified.