How Do I Set Up Direct Deposit?

Direct deposit allows your auction funds to be transferred securely to your organization's bank account after your event ends.

On the new CharityAuctions platform, direct deposit is set up during the payout request process.

There is no separate banking setup required before your auction begins.

Where to Set Up Direct Deposit

Direct deposit is configured when you request your payout.

To begin:

1. Open your auction dashboard
2. Navigate to Post Event Tasks
3. Click Payouts
4. Select the option to request your payout

If this is your first payout, you will be prompted to complete verification.

Completing Verification Setup

Before funds can be sent, you must complete a quick verification process.

To complete verification:

1. Follow the instructions on the Payouts page
2. Confirm your organization's information
3. Submit the required details

Once verification is complete, the system will trigger the secure banking setup.

Submitting Your Bank Information

For security purposes, banking information is collected through Stripe's secure form.

After requesting a payout:

1. Watch for a secure email from Stripe
2. Open the email and click the secure link
3. Enter your bank account details for direct deposit
4. Submit the form

Your banking information is entered directly into Stripe's secure system and is not stored within CharityAuctions.

When Will Funds Be Deposited

After completing verification and submitting your banking information:

• Payouts are typically processed within 5 to 7 business days
• Funds are sent directly to your verified bank account
• You will receive confirmation once the payout is complete

Processing time begins after verification and bank submission are finalized.

Updating Your Direct Deposit Information

If you need to change your bank account:

1. Request a new payout from the Payouts page
2. Wait for the new Stripe secure email
3. Submit the updated banking details

This ensures your payout is directed to the correct account.

Why Direct Deposit Is Set Up During Payout

CharityAuctions uses a built-in payment processor, so there is no need to configure payment settings before your event.

Direct deposit is only required when you are ready to receive funds, which simplifies setup and improves security.

If you need help setting up direct deposit or completing verification, Contact Support is always available to assist.