FAQs for Fund Settlement
My fundraising is over. What do I do next?
Great! Start your fund disbursement process by puttting in a fund transfer request through your fundraiser dashboard.
Also, don’t forget to let your supporters and donors know that your fundraiser has ended and thank them for their kind contributions!
Can I ask for funds before my fundraiser ends?
Yes, we do consider disbursing funds before the end of the fundraiser in emergency cases such as disaster relief or medical campaigns. Contact your campaign manager and put in a request and we will initiate transfer based on your situation within 3- 7 days from your request.
How much money will I actually receive?
Like most other platforms, we charge fees to cover costs that we incur to provide constant fundraising support to our campaigners (such as staff costs, website development and maintenance, marketing, bank charges, payment gateway charges etc.). However, we want campaigners to keep most of the funds they raise and therefore charge one of the lowest platform fees amongst Indian crowdfunding websites.
Here are two scenarios under which our pricing differentiates:
If you have raised -
Amount Raised INR 1,00,000 USD 1,000 Impact Guru fee (5%) Rs. 5900 $50 Bank Transaction Fees Rs. 3540 $30.9 Bank wire fee 0 $40 Funds received Rs.90,560 $879.10
A minimum fee of Rs. 3000 + GST or the pricing package you have opted for, whichever is higher (excluding payment gateway charges), will be applied to all fundraisers.
The above fees are crucial to maintaining a smooth functioning platforms that can aid as many campaigners as possible. Here’s how we use our fees.
Charges Rationale Impact Guru fee - 5% For website development, end-to-end support, customer support, staff costs, marketing etc. Bank Transaction Fee - 3% on total funds raised + $ 0.30 / transaction for international donations Paid to various payment gateways to help you receive Indian and foreign funds with ease. These costs are solely paid to payment gateways to process VISA, Mastercard, Amex, PayTM. Impact Guru doesn’t keep any of it. Bank Wire Fee - $40 (Only for those who collect foreign funds) Our US bank charges a flat wire fee to transfer foreign funds to your bank account.. The entire wire fee goes to the US bank. GST - 18% (on platform and transaction fees) Levied as per Indian government regulations
The above pricing structure is for our self-driven crowdfunding model, for other models, please visit our pricing page.
Who do I contact if my funds have not been transferred?
Fund transfer usually takes around 3-5 days for Indian donations and 7-10 days if you have collected donations from other countries, from the date of your request. Please give us sufficient time to disburse your funds. However, if it gets later than that or you want the funds immediately due to an emergency or just want to check the status of your fund transfer, kindly call on 022 - 49717414 or send an email to firstname.lastname@example.org.
Why were some donation(s) made to my fundraiser refunded by Impact Guru?
We take authenticity seriously. Our internal risk management tools help us gauge transactions that are fraudulent. If any donation to your campaign has been refunded, it’s probably because our systems have deemed it to be high-risk or fraudulent.
In case you know who the donor is and can validate the authenticity of the donation, please contact your campaign manager for an explanation and then ask the donor to make the donation again.
How long will it take to initiate fund disbursement?
After we receive the disbursement request from you, INR donations will be transferred to you within 3 - 5 working days and foreign donations will be transferred within 7 - 10 working days.
Please ensure you send us all the documents and bank details required for disbursement of funds. We will not be able to initiate the process without the required information from you.
How does Impact Guru help disburse money during emergencies?
We do understand that sometimes you might need the funds you’ve raised urgently and thus we do expedite our process for a few campaigners. If you are facing a medical or personal emergency and need the funds quickly, send a request to your campaign manager or send an email to email@example.com or call on 022 - 49717414 and we will try our best to initiate the process immediately.
What are the documents required to start my fund transfer?
We will not be able to initiate your fund transfer without the following documents:
Documents required (Mandatory):
Organisation certificate (only for non-profits and social enterprises)
Bank account details (Mandatory):
Name of the bank:
Name of the Account holder:
SWIFT Code (only if you have collected foreign donations):
What is a SWIFT code and how do find it?
A SWIFT code is needed to transfer any foreign donations that your fundraiser might have collected. It’s an unique International bank code that is required to transfer money from overseas banks to Indian accounts. It is also known as a Bank Identifier Code (BIC) and is 8 or 11 characters long.
The easiest way to get the SWIFT code if to contact your bank/branch. The code might also be available on your bank’s website.
To whose account will the funds be transferred to?
Every campaigner is asked to enter the name of a beneficiary (the person who will benefit from the funds) while creating the fundraiser. The funds will be transferred into the account of the beneficiary only.
Can I change my beneficiary?
We allow you to change your beneficiary only in exceptional cases after understanding your situation. The beneficiary cannot be changed once the fund disbursement process has been initiated.
How do I change my beneficiary?
In case you want to change your beneficiary, please send an email to campaign manager stating the clear reason for your change and they will advise you on the process further.
Who can be the beneficiary?
For all medical fundraisers, the amount will be disbursed directly into the hospital’s account. Only in certain exceptional cases will the funds be transferred into the account of the campaigner or the patient, based on Impact Guru’s discretion. Impact Guru reserves the right to take a final call on this matter.
For NGOs, the amount will be transferred into the NGOs account only. For personal and creative causes, the amount will be transferred to the beneficiary or the campaigner.
What are transaction fees and why are they charged?
Impact Guru charges transaction fee of 3% for both Indian and foreign transactions. A further fee of $0.30 is charged per transaction for foreign donations by our international payment gateway, Stripe.
The transaction fee helps us support and cover costs levied by various payment gateways on our platforms that makes it easy for the donor to donate in a way that is suitable to him. Impact Guru does not keep this amount.
What is a wire fee and why is it charged?
A wire fee of $40 is levied on foreign fund transfers by our international banking partner in the US. This fee will be levied each time you ask for foreign fund transfer to your account, which is why we suggest you request for fund transfer only after your fundraising is complete.
Why does Impact Guru charge a platform fee?
Impact Guru is a for-profit social enterprise that provides crowdfunding support for social, medical, personal and creative causes. We want to ensure that we continue to provide the best fundraising support to our campaigners. For this purpose, we have to incur various costs to maintain the platform, provide 24x7 fundraising support, market campaigns and handle customer queries.Our fees helps us cover these costs to ensure your fundraising is hassle-free and we innovate and add more tools to aid you in raising the money you need.
Just like a hospital charges a fee to treat patients and a school charges fee to educate students, we charge a fee too for our services. However, we work with a motive to help our campaigner get maximum funds and therefore charge the lowest platform fees amongst all crowdfunding platforms in India.
Click here to see how we compare with other platforms.
Why is GST applicable?
As per Indian government norms, we have to levy GST on our services.
What is the conversion policy for foreign donations on Impact Guru?
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.
Will I have to pay income tax on the funds I receive?
This may vary depending on the case. We do not offer tax advice and urge you to consult a tax expert.