Once you have entered your bank details in the Financials section of your project, you will be able to see a preview of the details provided on that page.
Additionally, please note that a Crowdfunder project cannot go live without valid banking details. Specifically, you must provide a UK bank account. If you don't have one yet, you can still save your project details and update the banking information later, but the project will remain non-live until this requirement is fulfilled.
Key technical details such as ensuring the sort code is entered as a continuous six-digit number without dashes and that the account number is exactly eight digits long can help ensure smooth validation of your bank account details.
You'll be able to see:
Bank account holder's name
Last four digits of the bank account number
Sort code
If your project has not been set live and you are not sure if you've entered the correct bank account number, you can reset the Financials section and add the details again. You'll need to edit your project and go to the Financials tab. At the bottom of that section, you'll see an option to Remove financials.
Before resetting, double-check your entries to ensure the sort code is a continuous six-digit string without dashes, and the account number is exactly eight digits long with no extra spaces or special characters. These checks can prevent potential errors.
š” Top tip: Removing and re-adding bank details is a good idea if you're not sure you entered your bank details correctly.
If your project is live and has already accepted pledges, you will not be able to remove your financials this way. If you have entered incorrect details and the project is going to pay out to the wrong account, we can send you a secure link to change your bank details. Contact us here" https://www.crowdfunder.co.uk/contact-us
If you request a secure link to update your bank details from the support team, the link will be valid for 24 hours. Additionally, you will need to submit a verifying document such as a bank statement or a screenshot of your online banking that shows the new account number and sort code for us to review and confirm.
Caution: If the payout for your project has already been initiated to the wrong account we can not do anything until the funds are returned by the receiving bank to our payment provider. This process is reliant on the bank itself and we have no control over this. That is why it is important to double check you entered the correct account details.
Key Formatting Requirements for Bank Account Details
When setting up your bank account details on Crowdfunder, ensure the following:
Sort Code: Input it as a continuous six-digit number without dashes or other characters.
Account Number: Provide an eight-digit number, ensuring no spaces or special characters are included.
Troubleshooting Payout Failures
If your payout has failed, it is typically due to the bank returning the payment because it could not be processed. The common reasons could include errors in your account details (such as account name, sort code, or account number) or issues at the bank's end, including restrictions or account verification requirements. Follow these steps to resolve the issue:
Verify Your Bank Details: Double-check the account name, sort code, and account number you have entered. Make sure that the account name exactly matches the name registered at your bank.
Contact Your Bank: If the details are correct but the issue persists, contact your bank to check for other reasons they might have rejected the payment. The bank might identify restrictions or additional verifications required.
Update Your Bank Details: If any details are incorrect or outdated, update them via Crowdfunder promptly. Notify the support team of these changes to ensure timely payout reprocessing.
Next Steps: Address payout failures promptly by verifying all steps above and maintaining clear communication with your bank and Crowdfunder support. Should issues persist even after these measures, contact Crowdfunder support for additional assistance.