FAQs for Withdrawing
How can I withdraw funds from my fundraiser?
You can withdraw funds from your fundraiser by visiting your dashboard or through your mobile app. You must add your bank account details as well as verifying documents for your request to get approved.
To whose account will the funds be transferred to?
In case of medical fundraisers, the funds are transferred to the hospital.
In case of personal fundraisers, the funds are transferred into the account of the beneficiary.
In case of NGO fundraisers, the funds are transferred into the account of the NGO.
How long does it take for the funds to be transferred?
Fund transfers take 1-3 working days after your request has been approved or 5-7 working days in the case of foreign donations.
Can I withdraw my funds before I have achieved my goal?
Yes, you can withdraw funds at any point in your fundraising journey. Please get in touch with your relationship manager to initiate such a withdrawal or go to your dashboard and request your withdrawal yourself.
Why didn’t I receive the amount shown on my fundraiser?
Based on the fundraising plan you choose, ImpactGuru will deduct certain fees and taxes from the amount raised. This is a minimal amount that helps us keep the platform running to support many others like you. In case you have opted for 0% platform fees, other costs like payment gateway fees that we are liable to pay to other vendors may still apply. Please check with your relationship manager on what are the charges that apply to your fundraiser.
How do I get details of donors who contributed to me?
You can view the donor details on your account dashboard. However, if a donor has chosen to donate anonymously, you will not be able to see their details.
What is a SWIFT Code and how do I find it?
A SWIFT code is a unique international bank code that is required to initiate money transfer from overseas banks to Indian accounts. It is also called Business Identifier Code (BIC) sometimes. Contact your bank or visit your bank’s website to look for your SWIFT code.
What documents do I need to withdraw funds?
We will need the following documents to initiate your fund transfer.
Documents required (Mandatory where applicable):
- PAN card (NGO PAN Card for non-profits)
- Aadhar Card (front and back)
- Organisation certificate (only for non-profits and social enterprises)
- Hospital documents / Doctor’s certificate (in case of medical fundraisers)
- Death Certificate (in case of Memorial fundraisers)
- Name of the bank
- Name of the Account holder:
- Account Number
- IFSC Code
- SWIFT Code (only if you have collected foreign donations)
Can the funds not be transferred to my personal account?
Unless you have started the fundraiser for a personal cause, for security reasons we refrain from transferring funds to anyone’s personal account. However, in medical cases, we may make an exception if the patient is not hospitalized or you are fundraising for post-op care. This however, is based on the discretion of the management at ImpactGuru.
Do I need to pay taxes on the funds raised?
This may vary depending on an individual’s income. We suggest you consult a tax expert/chartered accountant (CA) regarding this.
What is the conversion rate for foreign funds?
Impact Guru displays funds in all common currencies on your fundraiser. However, while disbursing funds, the conversion rate valid at that point will apply.
All foreign donations will be subject to fluctuations in exchange rates. Therefore, there might be a difference between the amount you see on your fundraiser and the actual amount disbursed to you depending on the date of transfer, the market exchange rate and the rate provided by your bank.
We advise you to keep your goal amount slightly higher to make up for any loss due to currency fluctuations.