Withdrawing funds – FundMitr

Who can withdraw the donations?

Helpadmin — Sun, 03 Mar 2024 17:44:03 +0000

Medical Fundraisers – INR donations can only be withdrawn to the beneficiary’s account, Immediate family members of the beneficiary & Treating Hospital.
In the case of USD donations, the funds raised can only be transferred directly to the Treating Hospital. Fund Transfer would take 7- 10 working days.
Medical Fundraisers (For bills already paid for) – INR donations can only be withdrawn to the beneficiary’s account, Immediate family members of the beneficiary, Vendors (Pharmaceuticals, Medical equipment purchase, etc.)
In the case of USD donations, the funds raised can only be transferred to the beneficiary or their direct relative’s account through an NGO, it can be a partnered NGO or any NGO of the beneficiary’s choosing. The withdrawal processing would take 14- 20 working days.

Please note: For withdrawing any donation in USD, bills of at least that amount need to be provided at the time of withdrawal. For eg. – If I wish to transfer 100 USD to the beneficiary’s account, I must provide unique bills of at least 100 USD.
Educational Fundraisers – INR donations can be withdrawn to the beneficiary’s account or directly to the University or School’s account. If the beneficiary is a minor then the INR donations can be withdrawn to either parent’s accounts.
For USD donations, the funds raised can only go directly to the University/Schools account after providing a document from the institution declaring the student is enrolled and that they need to pay a specific amount as tuition/accommodation/etc., fees. The withdrawal processing would take 7- 10 working days to hit the institution’s account.
Memorial Fundraisers – INR donations can be withdrawn to the deceased’s Immediate family/next of kin, i.e, Spouse, parents, or children. In the case of USD donations, the funds raised can only be transferred through an NGO, it can be a partnered NGO of Fundmitr or any NGO of the beneficiary’s choosing. The withdrawal processing would take 14- 20 working days to hit the recipient’s account.
Organisation Fundraisers – Both USD and INR donations can only be withdrawn to the NGO’s account. USD donations can only be withdrawn into a valid FCRA account of the NGO or a partnered NGO with a valid FCRA account.
Other Fundraisers – INR donations can be withdrawn to the beneficiary’s account or towards the Vendor account if any.
USD donations raised can only be transferred through an NGO, it can be a partnered NGO of Fundmitr or any NGO of the beneficiary’s choosing.
Please note: For withdrawing any amount in USD, bills of at least that amount need to be provided at the time of withdrawal. For eg. – If I wish to transfer 100 USD to the beneficiary’s account, I must provide unique bills of at least 100 USD.

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 Fundmitr & 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.

What documents are required while raising a withdrawal request?

Helpadmin — Sun, 03 Mar 2024 17:12:29 +0000

While adding the recipient’s bank account, the organiser is required to provide any government ID proof of the recipient account holder for KYC verification. If the beneficiary and the recipient account holder aren’t the same people, then they are required to provide a Relationship document that proves the relationship between the beneficiary and the recipient account holder. Please note that INR donations raised can only be transferred to the beneficiary / Immediate family of the beneficiary/ Treating hospital or Organisation. As per RBI guidelines, USD donations can only be transferred directly to the Treating Hospital or an Organisation with an FCRA certificate.

PS: Government-issued ID/Relationship proof includes the following:

Adhaar card (front and back sides)
Pan card
Voter ID
Driving License
Passport (first and last page copies)
Ration Card
Birth/Death certificate

Once the bank account is successfully added the next step is to click on “Request Transfer” on the “Withdraw Funds” page. The Organiser would need to provide relevant bills to withdraw the donations. In case the Organiser does not have bills at the time of withdrawal, they can sign a digital Letter of Undertaking (LOU) and place a withdrawal request.

What are Expense documents? Why do we have to submit expense documents for transfer of funds?

Helpadmin — Sun, 03 Mar 2024 17:09:32 +0000

Expense documents are supporting documents that can prove that there is a need for funds. They help Fundmitr verify if the funds are being utilized for the cause stated.

They may include the following documents and any other document that can prove that an expense has been incurred or will be incurred;

Fully paid bills
Partially paid bills
Unpaid bills
Advance receipts
Purchase orders
Invoices

I have added a bank account. How do I withdraw the funds raised?

Helpadmin — Sun, 03 Mar 2024 17:07:53 +0000

Request a transfer for the funds.

Click on the withdraw funds option on your fundraiser page
Click on the option Request Transfer.
You will be asked for an OTP as an additional step of verification. The OTP will be triggered to your mobile phone via SMS
Once the verification is completed, you will be asked to select the account to which you want to withdraw the funds to.
Enter the amount that you would like to withdraw. Please note that you can withdraw funds in parts or in full. However, you will be required to provide expense documents each time you wish to withdraw funds.
You will also have an option to leave a tip towards Fundmitr. The tip amount will ensure that we are able to continue providing our best-in-class service to you. If you wish to proceed without leaving a tip, you may do so by leaving the tip value blank.
Upload the expense documents and post an update.
You will then be asked to review all the details.
You have then successfully raised a withdrawal request

What is a SWIFT code? Where can I find the SWIFT code?

Helpadmin — Sun, 03 Mar 2024 17:04:48 +0000

SWIFT stands for Society for Worldwide Interbank Financial Telecommunication. It provides a network that enables financial institutions worldwide to send and receive information about financial transactions in a secure, standardized and reliable environment. At Fundmitr, a SWIFT code is required to transfer USD funds from the fundraiser to the recipient of funds. SWIFT codes are generally provided by the Bank. However, there are some scenarios where your bank may not be able to provide a SWIFT code. In such a case, you may click on this link and find the SWIFT code of your bank.

How do I withdraw funds from my fundraiser?

Helpadmin — Sun, 03 Mar 2024 17:02:22 +0000

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 accountsbeneficiary’s account treating hospital’s account immediate family member’s account Educational institution’s account vendor’s accountNGO’s bank account	Funds can be transferred to any of the following accountstreating hospital’s accountEducational institution’s accountService provider’s accountVendor’s accountNGO’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

What is a relationship proof document? Why do I need to provide it? What can I provide as a valid relationship proof document?

Helpadmin — Sun, 03 Mar 2024 17:00:40 +0000

What is a relationship proof document?

A relationship proof document is a document that establishes the relationship between the beneficiary of the funds and the recipient of the funds, in case the beneficiary is not the recipient.

Why do I need to provide it?

A relationship proof document is required in order to ensure that the funds are being transferred to the right person and to prevent misuse of the funds.

What document can I provide as a valid relationship proof document?

Valid relationship proofs include the following

Document	Relationship proved
Birth certificate	Mother-child / Father-child
PAN Card	Father-child
10th Class Marks Card	Mother-child / Father-child
Passport	Mother-child / Father-child
Ration card	Immediate family member (mother, father, brother sister)
Marriage certificate	Spouse (husband-wife)
Hospital Estimation Letter	Hospital-patient (when the recipient is treating hospital)
University acceptance letter	Student of the university