It’s probably your first time to list a project on a crowdfunding platform like Airfunding and you’re wondering how to receive your collected funds. Then, you are in the right place.
The majority of crowdfunding platforms have their own set of rules. It’s prudent to thoroughly read these rules before selecting a platform to avoid having to stop your campaign before it even begins.
If you do not do your due diligence to do research before launching your crowdfunding campaign, your chances of success decrease dramatically.
Read more to learn on how to receive your funds for your listed Airfunding projects.
Steps to collect funds
Verify your identity
Before Airfunding sends you your campaign funds, you are required to complete certain checks to verify your identity and information. This is done to prevent fraud and swindle and to ensure that supporters feel secure when deciding to support a project.
Simply input the information being requested in the menu “Bank Account Settings”. Enter the name of the bank account holder under the Bank Account Owner Field. If written in Thai, Chinese, or other characters, then rewrite your name in English. On the succeeding field, upload a picture where you are holding any identity card such as passport, driver’s license, or any government ID.
You may undergo identity verification at any period while your project is still active. It is recommended for you to do it as soon as possible to avoid forgetting.
Request for Withdrawal
In comparison to other crowdfunding platforms, Airfunding allows project owners to withdraw funds at any time as long as the amount you are requesting to withdraw is $100 or more. You may do this by tapping the request for a withdrawal button at the bottom of “My Project Page”.
The remaining funds which you haven’t received yet will be sent at the end of the project with the incurred 8% fees for the transfer and bank fees.
Currency of Funds
At the moment, Airfunding only supports US dollars. Hence, collected funds will be transferred in US dollars.
The usual remittance method being utilized by Airfunding is Wise, but you may check out other options as well.
To complete the transfer, the project owner will be contacted through the email address provided at the Personal Identification menu and will verify your bank account information.
In the case that the money wasn’t successfully sent due to failure to follow the Wise instructions, the transfer will be cancelled and refunded to us.
Make sure that you follow the instructions in the email within the allotted time frame to avoid delays.
Most of the transactions are done through Wise, but in the event that you need it in your Paypal account, this is also possible.
Register your PayPal email address in the Personal Identification menu and the collected funds may be transferred to the specified PayPal account.
Through Bank Account
In order to transfer the funds to your bank account, Airfunding will send you an email asking for the information needed.
Once all bank details are verified, Airfunding will process your request.
You may opt for any of the transfer methods mentioned above. However, for those countries without any remittance method available, you may discuss with the Airfunding staff an alternative payment method. The most used option for this case is to use a receiving account (yours or from a close person) that is registered in a country with an available remittance method.
To know more details about collection of funds, you may read the Frequently Asked Questions (FAQs) here.
Start with Airfunding now!