Negative balances can occur when the total amount of payouts, refunds, chargebacks, or fees exceed the amount of funds raised by a fundraiser. It is important for fundraisers to take prompt action to bring their negative balances to $0 within 30 days to avoid being referred to collections.
Fundraisers can automatically bring their negative balances to $0 if their fundraiser continues to accumulate donations to cover the negative balance. This means that if a fundraiser continues to receive donations, the negative balance will be automatically deducted from the incoming funds until the balance reaches $0.
However, if the fundraiser does not continue to accumulate donations to cover the negative balance, they will need to log in to their connected Stripe account to repay those funds. This can be done by transferring funds from their bank account to their Stripe account to cover the negative balance. Once the negative balance is paid off, the fundraiser can continue to receive donations as usual.
Please follow these steps to login to your Stripe account:
- Login to Stripe by visiting: https://connect.stripe.com/express_login
- Use the email you had used to connect your bank account on Gift of Parenthood (a 2FA code will be sent to your phone to help authenticate your account)
It is important to note that if negative balances are not repaid or brought up to $0 within 30 days, users may be referred to collections. This means that the outstanding amount will be sent to a collection agency for further action. To avoid this, it is essential for fundraisers to take prompt action to repay negative balances.
If you have any questions about negative balances or need assistance with repaying a negative balance, please reach out to our support team for assistance. We are always here to help and ensure a smooth and successful fundraising experience for all our users.