There’s nothing like the feeling of seeing your campaign funds hit your bank account. And we want you to have that feeling even faster than before.
To date, when supporters donated via credit and debit cards to your campaign, you had to wait 5-15 days after your campaign ended before you got your funds. That’s changing today for all new campaigns.
So what’s changing, exactly?
For all new campaign that start from today, donations made via credit and debit cards to Australian campaigns will be transferred to your nominated bank account in 2-day rolling cycles. That means all the donations made to you today, will be sent to you in 2-days time – with the exception of weekends and public/bank holidays. If that’s too frequent for you, you can change this to weekly or monthly.
How do the changes work?
In order to make this happen, we’ve partnered with Stripe – a global payments platform. We’ve actually been using Stripe in the background for all our credit and debit card payments for a number of years already.
Going forward, when you start a campaign in Australia and choose credit/debit card payments, you’ll now need to create and connect an account with Stripe. It’s a <5 minute process and is integrated into our system, so you’ll barely notice.
Then, everything works as normal. Someone donates to your campaign. That donation gets transferred to your Stripe account and then Stripe transfers the donations to your bank account automatically in 2-day rolling cycles.
No more waiting around until after your campaign ends to get your money.
1. What if I’ve got a campaign running in Australia already?
For existing campaigns, you’ll still receive your credit/debit card donations 5-15 days after your campaign ends. When you create your next campaign, you’ll be on the new system and need to connect a Stripe account so that we can send your funds to you more frequently.
2. Will this effect non-Australian campaigns?
No. Full steam ahead for campaigns in all our other supported countries. This brings Australia in line with what we’ve been doing everywhere else for a while.
3. Who are Stripe?
Stripe are a global payments system that handles billions of dollars of payments every year around the world. They’re also incredibly reliable and lovely people. You can read more about Chuffed + Stripe here: Stripe leaves Aussie Non-Profit Platform Chuffed.
4. How do I get my donations less frequently?
Sometimes getting transactions into your bank account every day can get really messy – particularly for the accountants – and you’ll want to receive funds less frequently. To do that, you’ll need to:
– Log into your Stripe.com account (www.stripe.com)
- Click on your name in the top right
- Click on ‘Account Settings’
- Click on ‘Transfers’
- In the ‘Transfer Schedule’ click on ‘Change Schedule’
- Choose the frequency you want and click on ‘Save Schedule’
All future transfers will then be on the new schedule that you chose.