Withdrawing funds from your fundraiser is a simple process. The following steps are to be performed to ensure a quick transfer of funds.
The few steps involved are as follows
- Adding the recipient’s bank account (refer to the table for better understanding)
- Requesting fund transfer
The table below shows some important information regarding the withdrawal of funds.
| | Donations in INR | Donations in USD |
| Whose account can funds be transferred to? (Recipient) | Funds can be transferred to any of the following accounts - beneficiary’s account
- treating hospital’s account
- immediate family member’s account
- Educational institution’s account
- vendor’s account
- NGO’s bank account
| Funds can be transferred to any of the following accounts - treating hospital’s account
- Educational institution’s account
- Service provider’s account
- Vendor’s account
- NGO’s FCRA account
|
| What documents are required at the time of adding the recipient’s bank account? | KYC (Know your customer) documents such as Government issued ID and address proofs are required along with a valid relationship proof document. Click here to know more. |
| What are expense documents? | Expense documents refer to the bills/invoices that are related to your fundraiser. Click here to know more. |
| What are the timelines for the transfer of funds? | 3-5 working days | 7-10 working days |
Note:
All withdrawal requests will be verified by our Verifications team before processing. Bills are a must to ensure a smooth transfer of funds. For smooth processing of INR donations, please ensure bills amounting to 70% of the requested amount are provided.
Remittance of foreign funds without a valid FCRA certificate can lead to regulatory action & hence to safeguard Milaap & you as a fundraiser, we can either have the foreign donations transferred to the above available options or we will have to disable the option of accepting foreign donations.
