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How do I Receive Funds from BackerKit Crowdfunding?
BackerKit Campaigns are charged through Stripe
After your campaign has successfully ended, charging will begin within the next 24-hour time period.
Once an individual backer is charged, the amount will appear in your Stripe account. Due to regulatory reasons, BackerKit prevents the funds from being paid out to the bank within 7 days of the charge. Stripe also has their own waiting period that stacks on top of ours. Typically, we see the funds paid out from Stripe accounts to customers’ banks within 14 days. Learn more: Waiting period for first payout on Stripe (Stripe.com)
Failed Payments
If an individual charge fails/declines, backers are notified with instructions on how to update their payment.
Once a backer updates their payment information they will be re-charged immediately. For those that do not update their payment, BackerKit will automatically charge again on Day 7 and Day 14. Each successful charge should instantly appear in your Stripe account, where you can view your payout schedule.
If a backer reaches out to you asking how to update their payment, direct them to this Backer Help Article: How do I update my payment?
Backers that are not able to fix their payments within 14 days after the campaign is over, will have their Pledge Amount reflected as $0 in the Pledge Manager, with their pledge and any campaign add-ons as their balance owed. Failed payment backers will receive surveys where they can add payment with a chance to reinstate their pledge.
Note for Topias and Group Collab Launches
Backers who pledge to multiple campaigns ending simultaneously during a group launch (ex. Pintopia, Comictopia, Mothership Month, Purple Planet, etc.) are charged in one-hour intervals per pledge. This means that if a backer supports your campaign along with others closing at the same time, their payments may process gradually rather than all at once. You should see all successful charges reflected in your Stripe account within 48 hours of your campaign ending.
Funding Summary
After 14 days has passed, your Funding Summary page will be updated on your crowdfunding dashboard.
Learn more about your Funding Summary page here.