What are the payout Terms & Conditions?

Congratulations! You have successfully crowdfunded on LaunchGood. Before we can issue your payout, please take note of our terms and conditions. These are designed to keep our platform safe and secure so that we can continue to build an inspiring future for generations of Muslims to come.

 

Prior to Requesting a Payout

Before a payout for your campaign can be issued, the Campaign Creator must complete the following:

1. The Payment Information section on your campaign page must be completely filled out. 

2. A Bank Statement and/or Void Check has been uploaded in the Bank Verification section.

For instructions on how to fill out these important sections, check out this article.

 

Minimum Amount to Raise 


A minimum of $200 USD is required to be raised before a payout can be issued for a campaign. By setting this minimum, we allow Campaign Creators to keep more of their funds and pay less in transfer fees.


 

Refunds 


A refund is when a donor requests their donation be returned to them. Whilst a campaign is live or there is a balance in your account, refunds will be deducted directly from your campaign balance. If your campaign has completed and you have received a payout, we will direct the donor to contact you directly to request a refund.



 

Chargebacks 


Chargebacks occur when a donor’s bank detects a problem with a transaction or when a donor requests their bank to return a donation. Chargebacks, as well as their associated fees, will be the responsibility of the campaign creator. Whilst the campaign is live, refunds and chargebacks will be deducted directly from your campaign balance. If your campaign has completed and you have received a payout, you will be responsible for paying back any chargebacks, as well as their associated fees. We will contact you directly if this occurs.



 

Reserve Amount


LaunchGood set's aside a portion of your funds raised when issuing a payout, in case any refunds or chargebacks occur. 


1. For campaigns with a US bank account - we set aside a $200 reserve from the payout whilst the campaign is live. Once the campaign has been completed, we release the reserve to you.


2. For campaigns with a bank account anywhere else in the world - we set aside a reserve of 10% (minimum amount is USD $200). We release the reserve to you 90 days after the last transaction on your campaign is completed. 



 

Payout Fees & Transfer 


LaunchGood strives to payout campaign creators as quickly as possible. To facilitate this whilst keeping you and our platform secure, we use payout processors. These fees are passed on to the campaign creator. 


1. For campaigns with a US bank account - we send funds via ACH transfer which incurs a USD $1 - $2 fee deducted directly from your payout.


2. For campaigns with a bank account anywhere else in the world - we send funds via Wire Transfer which incurs a USD $20 fee deducted directly from your payout.


Find out more about which payment processors we use here and their fees here



Successfully crowdfunded on LaunchGood and want to request a payout? Contact us at payments@launchgood.com or find out more in this article!



Need further support? Reach out to a LaunchGood Expert at help@launchgood.com!

Did you find it helpful? Yes No

Send feedback
Sorry we couldn't be helpful. Help us improve this article with your feedback.