What are Reserved Funds?
If you launch your campaign on or after December 1, 2018, your campaign will automatically include a Reserved Funds feature. With this feature, you will be able to process any refund requests from your backers on the Indiegogo platform for up to 6 months after your campaign ends.
How does it work?
Once your campaign raises 1000 in your currency, 5% will automatically be reserved for refunds and chargebacks. The amount of reserved funds will increase as you keep raising funds so the total is always 5%. We will hold these funds in reserve for you for 6 months after your campaign deadline so you can keep processing refund requests on Indiegogo. At the end of this 6 month period, we'll send you any funds remaining in the reserve.
How does this help my campaign?
Refunds are a reality of every campaign. Sometimes backers make mistakes on their contribution or they simply change their minds. Reserved Funds help you create the best possible customer experience for your backers by letting you process refund requests quickly and easily. Reserved Funds will also be used to cover any lost chargebacks filed by your backers.
Where can I see it on my dashboard?
You can view your Reserved Funds on the Finances dashboard for your campaign. Navigate there by doing the following:
- Log in to your Indiegogo account
- Click on your name in the top right corner and select 'My Campaigns'
- Open your campaign page
- On the left-hand toolbar, click on the Finances dashboard
- View your Reserved Funds in the Financial Overview section
How do you receive any funds from the hold?
Funds in your reserve will be held for 6 months, starting at your deadline date. Once the 6 months passes, we will automatically send you any funds remaining in the reserve. You'll be able to keep track of the amount in your reserve from your Finances dashboard.
What else do I need to know?
Since 5% of your funds will be automatically reserved for 6 months after your campaign ends, you should take this into consideration when deciding on your goal amount. If you need to raise a specific amount, you may want to increase your goal to make sure your disbursement amount will be what you need to move your project forward. To read more about goal amounts, please see this article.