When you fundraise through GiveWheel, you are fundraising in aid of your chosen charities. This means that GiveWheel is not receiving funds on behalf of the charities, but rather pledges to disburse these funds to your intended recipients.
GiveWheel pledges to ensure the safe and prompt transfer of donated funds to the recipient charity on behalf of the donor, without taking platform deductions. GiveWheel ensure transfer of all funds from pages onsite, and fundraisers do not need to take any action to trigger this.
For the vast majority of charities, GiveWheel disburses donations on a monthly basis, even while fundraisers are ongoing. For this reason, it is not usually possible to change the allocation of a fundraising page once donations have been received.
We disburse funds via three possible disbursement routes:
1. Charities Trust
Charities Trust is our non-profit disbursement partner (charity no. 327489) and handles due diligence, secure disbursement and reporting services for more than 23,000 UK charity members. As well as disbursing funds on a monthly basis, Charities Trust provide an automated Gift Aid reclamation service, and reclaimed Gift Aid is transferred to charities in a separate monthly payment once received from HMRC. For these services, they charge a 2.5% disbursement fee. Where a charity does not hold an account with GiveWheel, we'll automatically process funds via Charities Trust to allow the organisation to receive funds passively.
2. Stripe
When registered onsite, charities can opt to receive funds via Stripe rather than Charities Trust, or in cases where charities are not a member with Charities Trust. In this case, we also disburse all funds on a monthly basis, even while fundraisers are ongoing, and there are no disbursement fees charged. Gift Aid may be reclaimed directly from HMRC by the charity themselves, with exportable reports available through the GiveWheel charity dashboard.
3. Bank Transfer
In rare cases, we are able to transfer funds to charities via manual bank transfer. This would usually be the case for smaller UK charities where the above options are not suitable, or international charities. In this case, funds will be transferred in one lump sum shortly after the even close date. While there is no disbursement fee for UK charities, international transactions may be subject to an international disbursement fee to cover currency conversion and bank charges. You can read more about this in our below article on international transfers: