How do I Receive Funds from BackerKit Crowdfunding?

After the completion of a successful project, charges will be processed within a 24-hour timeframe.

Once an individual backer is charged, you should see the amount appear immediately 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. Learn more: Waiting period for first payout on Stripe (stripe.com)

Typically, we see the funds paid out from Stripe accounts to customers’ banks within 14 days.

If an individual charge fails/declines, backers are notified and can re-enter their card and we will attempt a charge. For those that don’t re-enter their card, we attempt charges at regular intervals (at Day 7 and Day 14). 

Each successful charge should instantly appear in your Stripe account and Stripe should show you the payout scheduled.

For backers that aren’t able to fix their payments in a 14 day period after the campaign is over, their payment status is reflected in the pledge manager with $0 credit, and we can attempt to collect the funds there.

Note: Currently, backers with confirmed BackerKit accounts are charged after the project ends. Should backers with 'unconfirmed account' should confirm their account before Day 7 and Day 14, they will be included in the retry charge group. To encourage backers with unconfirmed BackerKit account to confirm their account, you can share this help doc: How do I confirm my BackerKit account? in your next Project Update.

Note: Backers with multiple pledges for campaigns that are ending at the same time (ex. Pintopia backers), are charged at 1 hour interval per pledge. This means that if there are backers who pledged to your campaign and also many others that are ending at the same time, you may not see all successful charges all at once but should see them in your Stripe account within 48-hour of your campaign ending.