How To Get Your Money From Facebook Fundraiser
How to Get Your Money From Facebook Fundraiser
Fundraising on Facebook is a powerful way to raise money for a cause or venture. Whether you're fundraising for a local charity, a school trip, or a business project, using Facebook to spread the word about your cause can really help you reach your goal. But after you've reached your goal, how do you actually get the money from Facebook?
1. Choose Your Payment Method
Facebook allows you to choose from three payment methods when you set up your fundraiser: PayPal, Stripe, and Facebook Payments. PayPal is the most popular option and allows you to receive money directly into your PayPal account. Stripe is also a popular option, and allows you to receive payments directly into your bank account. Finally, Facebook Payments allows you to receive donations directly into your Facebook account.
2. Connect Your Account
Once you have chosen your payment method, you will need to connect your account to Facebook. This can be done either through the PayPal app or by entering your details directly on the Facebook website. Depending on the method you choose, you may also need to provide additional information such as your bank account details or your government issued ID.
3. Receive the Funds
Once you have connected your account and your fundraiser is complete, Facebook will transfer the funds to your payment method. Depending on the method you choose, this can take up to five business days. Once the funds are transferred, you will be able to access them in your account.
4. Withdraw the Funds
Once you have received the funds, you can then withdraw them from your account. For PayPal, you can withdraw the funds directly to your bank account. For Stripe, you can transfer the funds to your bank account or use them to make purchases directly from the Stripe app. For Facebook Payments, you can transfer the funds to your bank account or use them to make purchases directly on the Facebook website.
5. Pay Taxes
It is important to remember that any money you receive from Facebook fundraisers is considered taxable income. Depending on the country you are in, you may need to pay taxes on your earnings. You should consult a tax expert to determine how much you need to pay.
6. Track Your Funds
Facebook also offers a fundraising tool that allows you to track the funds you have raised. This tool can help you keep track of how much money you have raised, who has donated to your cause, and where the funds are currently located. This is a great way to stay on top of your fundraising efforts.
7. Enjoy Your Funds
Once you have received the funds and have paid the necessary taxes, you can start enjoying the fruits of your labor! Whether you are donating the money to a charity or investing the funds in a business venture, you can feel proud knowing that you have helped make a difference.
