Donations are processed through one of our donation processing options: Stripe, PayPal, or both. You'll connect these accounts to your fundraising sites through the campaign settings.
Or you can set a default Stripe account in your account settings.
If you don't yet have one of these accounts, you can easily set one up on PayPal or for Stripe, by simply selecting Connect A Stripe Account where you'll be taken to a page to create an account. If you already have one, you can sign in with your email and password.
To connect a PayPal account, all you need is your PayPal account email and password.
When you set up your donation processor account, you'll also connect a bank account to your donation processor.
When funds are processed through Stripe, donations will be deposited individually and directly into your Stripe account.
If the donor added donation tipping to their donation amount, that full amount is deposited in Stripe, and is therefore included in tax-deductions, if applicable. Should the tipping amount be more than the transaction fee, the leftover amount remains in your Stripe account.
For more information on setting up Donation Processing, view our article How To Set Up Donation Processing.
Receiving Transactions
Now, you're all set to start receiving transactions (donations, tickets, registration fees, etc).
CauseVox deducts the CauseVox platform fee on each transaction, and Stripe/PayPal will deduct their fee as well. Once the transaction is complete, the net funds are deposited in your Stripe/PayPal account.
Stripe/PayPal fees are typically 2.9% + $0.30 per transaction, and are 2.2% + $0.30 per transaction for nonprofits.
To offset these fees, you're able to use Donation Tipping, which gives your donors the option to cover your transaction fees for you.
For more info, view:
Transfer To Bank Account
Stripe is set to automatically transfer funds into the bank account you connected on a two day rolling basis. You can login to Stripe to see when your next transfer is scheduled.
If you used PayPal, the process is the same, except that donations must be manually requested to be transferred into your bank account. Once you request your bank transfer, it typically takes about 3-5 days to be deposited in your bank account.
Funds are available to be deposited into your bank account throughout your campaign, and there's no penalty for not reaching your goal.