Many China based campaigns have questions about receiving funds from Indiegogo to a Chinese bank account. This article will help you answer some frequently asked questions about raising funds for your China based campaign. It covers basic information about receiving funds in USD to a Chinese bank account, and Indiegogo's disbursement process.
The answers provided here are for flexible funding campaigns only, as this is the funding type that the majority of campaigns choose.
How do I setup my funds recipient?
You can select any of the four options when setting up your campaign.
If you select "A Business" when setting up your campaign's funds recipient information in the campaign creation flow (see below), you will need to enter a "Tax ID" as a result. This should be whatever business number the Chinese government assigns to your company or organization.
If you do not have a Tax ID, you can select "An Individual" as the funds recipient. Even if you select to run your campaign as an individual, you can still enter your business bank account when it's time to receive funds.
Which bank should I use?
You can use a bank account either in China, or elsewhere to receive all credit card funds raised from your campaign. However, we highly recommend matching your bank account country with your campaign country, so that your disbursement can stay on schedule.
You will be able to provide your bank account information on your campaign's Funding tab as soon as you've received your first campaign contribution. Here’s a step-by-step guide on how to do that.
To make sure funds are disbursed to you as smoothly and quickly as possible, we highly recommend matching your funds recipient with the bank account owner and campaign owner information, as much as possible and as accurately as possible (city, country, etc.). This will also help Indiegogo's Trust & Safety Team verify your campaign. To learn more about Indiegogo's Trust & Safety effort, please see here.
How should I enter my Chinese bank information?
Since Indiegogo is an English-language platform, you'll need to enter your bank account information (bank name, account address, etc.) using the English alphabet characters.
Indiegogo's bank form is limited to 35 English alphabet characters (including spaces) in the "Name on account" field because our bank, Wells Fargo, will not accept an account name longer than this. If your name on account is longer than 35 English alphabet characters, please check with your bank to see if they will accept a partial name match. If your bank does not accept a partial name match, please continue your account name onto the "Address line 1" field.
Can you verify I've entered the correct information?
No, we unfortunately can't verify the information you've entered. If you are receiving funds to a non-US bank, please speak with your bank first to receive any information from them related to getting ready to receive an international wire transfer from Indiegogo. We'll be sending funds in USD, so you'll also need to speak with your bank if currency conversion is a concern. Also, please note that Indiegogo can only send funds if you have raised more than $100 after fees by the scheduled disbursement date.
What about taxes?
Indiegogo can't provide tax advice because we are not tax officials. If you have questions about tax implications of receiving foreign funds through crowdfunding for your China-based campaigns, please consult a tax accountant. If your campaign does meet specific thresholds, Indiegogo or one of our payment partners may send you certain documents to fill out.