To get funds from a GoFundMe campaign, you need to set up a bank transfer through the platform by verifying your identity and linking a bank account with a routing and account number. The money doesn’t arrive automatically. Whether you’re the organizer or a named beneficiary, you’ll need to complete a verification process before GoFundMe releases any funds to your bank.
What You Need Before Withdrawing
GoFundMe requires several pieces of documentation before you can receive a single dollar. In the US, you’ll need a Social Security number or ITIN, an unexpired government-issued photo ID (driver’s license, state ID, or passport), a residential address in one of the 50 states (not a PO box), a US phone number, and a US bank account in your name. Other supported countries have similar requirements tied to local ID numbers and bank accounts.
Your bank account must have both a routing number and an account number. This rules out most prepaid debit cards and some mobile banking apps. GoFundMe explicitly advises against using a prepaid debit card, and if you can’t provide approved documentation from the issuing bank, you’ll be forced to switch to a different account, even if you’ve already received partial transfers to that card. If you use an online bank, confirm ahead of time that it can provide a bank statement showing your full legal name, the bank’s logo, and your account number, dated within the last 30 days.
Setting Up Your First Transfer
Once your fundraiser has received donations, log in to GoFundMe and navigate to your fundraiser dashboard. From there, you’ll be prompted to set up bank transfers. This involves entering your bank details and uploading your identity documents. GoFundMe’s payment processor may request additional verification beyond the basics, particularly for larger fundraisers or if any of your information doesn’t match exactly.
The initial setup and verification process can take up to seven business days or longer. This is the step that catches most people off guard. If you’re raising money for an urgent expense, start the verification process as soon as the first donation comes in rather than waiting until you’ve hit your goal. There’s no reason to delay, and doing so only pushes back when the money actually lands in your account.
How Long Transfers Take
After your account is verified, each individual transfer takes two to five business days to arrive in your bank account. So from the moment you first request a withdrawal on a brand-new fundraiser, you could be looking at nine to twelve business days before the money is available to spend. Subsequent transfers are faster since you’ve already cleared verification, but you’ll still wait those two to five business days per transfer.
You don’t have to wait until your fundraiser ends to withdraw. GoFundMe lets you transfer funds as donations come in, so you can pull money out in batches rather than waiting for a lump sum. This is particularly useful if you need to cover bills or expenses right away.
Fees Deducted From Donations
GoFundMe does not charge a platform fee to start or manage a fundraiser. However, a transaction fee is automatically deducted from each donation to cover payment processing. This means the amount you withdraw will be slightly less than the total shown on your fundraiser page. The deduction happens on each individual donation as it comes in, so there’s no separate charge when you initiate a bank transfer.
If You’re Raising Money for Someone Else
When you create a fundraiser on behalf of another person, you have two options for getting them the money. The simpler route is to add that person as a beneficiary directly on GoFundMe. Once they accept your invitation, they take over the bank transfer process entirely. They’ll enter their own bank details, verify their own identity, and receive the funds straight into their account. The money never passes through yours.
This only works if the beneficiary is over 18, has access to a qualifying bank account, and is able to manage the process themselves. If they’re dealing with a medical crisis, grieving, or otherwise unable to handle the paperwork, it may be better for you to receive the funds yourself and then send the money to them outside of GoFundMe. Be transparent with your donors if you take this approach, and note it in your fundraiser story.
A few limitations to keep in mind. Only one beneficiary can be added per fundraiser, so if the funds need to be split among multiple people, you’ll need to receive the money yourself and distribute it. You also can’t add a business or service provider as a beneficiary. If you’re raising money to pay a funeral home, a hospital, or a school, an individual person must receive the funds first and then pay the provider separately.
Troubleshooting Delayed Funds
The most common reason funds get stuck is a mismatch between your ID and your bank account. The name on your government-issued ID needs to match the name on the bank account you’re using. If you recently changed your name or if your bank lists a slightly different version, you may need to provide additional documentation to clear things up.
Expired IDs will also stop the process cold. GoFundMe requires that all government-issued identification be current and unexpired. If your license or passport has lapsed, renew it before attempting to set up transfers.
If your bank statement doesn’t meet the requirements (missing the bank logo, older than 30 days, or showing only a partial account number), the payment processor will reject it. Log in to your bank’s website or app and download a fresh statement that includes all the required details before resubmitting.