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.

TABLE OF CONTENTS

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 (in the currency your campaign is settled in and not including fees) 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.

If your campaign hasn't met the minimum payout requirement, you can choose to reopen it until the minimum threshold is reached. However, if the campaign isn't reopened, donations will be refunded to the donors.

Campaign creators requesting a payout while their campaign is still live, must have a minimum of 400 (in the currency your campaign is settled in) raised as this allows us to keep our minimum reserve amount for refunds and chargebacks that may be requested while the campaign is live.

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 been 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 been 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 sets aside a portion of your funds raised when issuing a payout, in case any refunds or chargebacks occur.

1. For campaigns with a US, Canada, or UK bank account - we set aside a $200/£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) of the payout amount. We release the reserve to you 90 days after the last transaction on your campaign is completed.

Payout Fees & Transfer

LaunchGood strives to pay 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 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 20-30 USD/GBP/CAD (depending on campaign's settled currency) fee deducted directly from your payout.

Some banks may also charge an incoming transfer fee. Please check with your bank regarding their policies.

Find out more about payment processor 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 support@launchgood.com!

What Are The Payout Terms & Conditions?