How do you receive funds from GoFundMe? If you’re raising money for a cause or an emergency, GoFundMe is a popular platform that allows you to collect donations from friends, family, and even strangers. Understanding the process of receiving funds is crucial to ensure a smooth and successful fundraising experience. In this article, we’ll guide you through the steps to receive funds from GoFundMe and provide some tips to manage your donations effectively.
Firstly, to receive funds from GoFundMe, you need to create a campaign. Go to the GoFundMe website and sign up for an account. Once you have an account, you can start by filling out the campaign details, including the purpose of your fundraiser, the amount you’re aiming to raise, and a personal story that connects with your audience.
After setting up your campaign, GoFundMe will provide you with a unique link that you can share with others. You can share this link on social media, email, or through other communication channels to reach a wider audience. As people visit your campaign page and decide to donate, their contributions will be added to your total amount raised.
When someone donates to your campaign, GoFundMe will process the payment through their secure payment gateway. The funds are typically held in escrow by GoFundMe until you request a disbursement. This ensures that you receive the money only after you have provided proof of how the funds will be used.
Here’s how to request a disbursement:
1. Log in to your GoFundMe account.
2. Go to your campaign page.
3. Click on “Manage” and then “Request a disbursement.”
4. Enter the amount you want to withdraw and provide the necessary information, such as your bank account details.
5. Review the request and submit it.
Once you submit your disbursement request, GoFundMe will verify the information and process the payment. The funds will be deposited into your bank account within a few business days, depending on your bank’s policies and the country you’re located in.
It’s important to note that GoFundMe charges a fee for their services. They deduct a percentage of the total amount raised as a platform fee. Additionally, there may be processing fees for credit card transactions. Make sure to review the fees and terms of service before you start your campaign to understand the costs involved.
Lastly, be transparent and accountable with your donors. Keep them updated on how the funds are being used and share progress updates. This not only shows appreciation to your supporters but also helps maintain trust and credibility in your fundraising efforts.
In conclusion, receiving funds from GoFundMe is a straightforward process. By following these steps and being transparent with your donors, you can effectively manage your campaign and achieve your fundraising goals. Good luck with your cause!
