Frequently Asked Questions

Examples - Read how people are using Fundable.

Contact Us - Send comments, questions and suggestions to contact@fundable.com.

What is Fundable.com?

Fundable.com lets groups of people pool funds to make purchases or raise money.

Similar to online auctions, Fundable's pages are created by people who use this site. Each project has a description of how much money needs to be collected and what it will do. Once enough pledges (not payments) have been collected, Fundable turns them into real payments and sends the total to the project's organizer.

No one takes a risk when making a pledge: if a collection expires before reaching its total in pledges, Fundable deletes all pledges and never charges money. This lets you participate in a group purchase or fundraiser without worrying about what other people will do. No one pays until and unless everyone else makes a pledge.

How do I create a Fundable collection?

Click here. If you don't have an account, you will be prompted to create one. This takes 10 seconds.

What are some ways that I can use Fundable?

See the Examples page for specific ways to use Fundable. All Fundable collections function in the same way: a group leader collects money and then carries out an objective. You can:

• Pool money for a cause with a group of people (fundraise).
• Go in on a purchase with a group of people.
• Offer a product on the condition that a minimum number of people buy in.

Will random people on the Internet give me money?

All collections listed on Fundable are open for any visitor's pledge. However, you should not plan for random visitors to contribute.

How much does Fundable cost?

Starting a collection or making a pledge is completely FREE.

Completed collections (and only completed collections) have a 10% fee taken from their totals.

Remember, there is no cost to set up a collection. No one pays anything if a collection expires

I don't want to lose contributions if I don't meet my goal. How do I do this?

After your collection has started, Fundable provides you 5 days to adjust your goal. During this time, if you decide that you cannot reach your original amount, you may lower it. The minimum goal that you may set is $100.

All goals must be met by their deadlines.

Finally, if you are close to your total and time is running out, Fundable allows you to contribute the remaining amount to your own project.

Does Fundable.com offer loans?

We recommend using our partner service for loans.

How do I get my money once I have raised it?

Group leaders may receive money they have collected in one of two ways:

• through their paypal account.
  
• by check for a $10 flat fee.

It is completely FREE to set up a collection. Pledges also cost nothing.

Can anyone make a pledge on a collection? What if I want to hide my project?

All collections listed on Fundable are open for any visitor's pledge. However, you have the option to hide your project from public listings.

When I make a pledge, what does Fundable do?

Fundable holds your pledge until the project reaches its goal, and then collects payment. This works much like a self-serve gas station in which your credit card is "authorized" before you pump gas.

If a collection falls short of its goal on deadline, Fundable deletes your pledge and you have paid nothing.

Is my credit card/payment information safe?

Fundable never handles your credit card or payment information directly and cannot store it. PayPal takes care of all payment processing.

What payment methods does Fundable use to accept pledges?

Fundable accepts pledges through Paypal, Visa, Mastercard, American Express, and Discover.

Remember, pledges ARE NOT payments. You are only charged if a project reaches its collection goal in pledges.

What currencies does Fundable accept as pledges?

All pledges handled by Fundable are in U.S. Dollars or converted to this by PayPal.

In what timezone do collections take place?

Eastern Standard Time

How does Fundable provide a system of trust? How can I trust the group leader?

In most cases, the weight of 20 or 25 waiting contributors creates considerable pressure for organizers to deliver on what they promise. However, the same guideline applies for collections as for eBay auctions: ask questions and verify the trustworthiness of the organizer before making a pledge.

What is the maximum amount of time I can have for my collection?

Paypal currently limits pledges to 26 days.

Do you really delete pledges if a collection falls short of its goal?

Yes, but group leaders may set their goal as low as $100.

What happens if my group raises 90-99% of its goal?

Contact contact@fundable.com to request a 2 day extension.

How do I change my goal after my collection has started?

A collection's goal is editable by the group leader up to 5 days after the first person makes a pledge.

Is Fundable a non-profit fundraising organization?

No. If you are giving funds to a non-profit through Fundable, you should contact the non-profit organization directy to get a receipt for tax purposes.

Can my organization accept credit cards and PayPal too?

You will have to apply for a business merchant account. Click below for all the details.