NOTE: This article is the first in our series on disbursements for your Standalone Auctions.
If you also utilize our All-in-One Donor Management platform, you may want to check out this collection of Auctions articles instead.
What is "Bonterra Payments"?
Bonterra Payments is one of the options available for processing payments collected through your Bonterra products, such as Fundraising Pages or Auctions.
Bonterra Payments is powered by Stripe, and provides a quick and secure way to process - and then disburse - your organization's collected donations and other transactions.
What is Stripe, and how does it power Bonterra Payments?
Stripe is an alternative payment processing option available to help process transactions made through your Network for Good products and services. Stripe provides faster disbursements for your organization’s donations and ticket purchases and includes added flexibility for your tax receipts and for the transactions your organization may be collecting.
For more information on Stripe, please check out their helpful resources here.
What is the disbursement process like for transactions processed through Bonterra Payments?
Bonterra Payments disburses funds on a five-business-day rolling window from the date of the transaction. That means that if a transaction is made on a Wednesday, the funds will be disbursed via Bonterra Payments on the following Wednesday.
How do I set up my Bonterra Payments account?
We have a detailed walkthrough on how to set up your account here!
What if I have an existing Stripe account? Can I use that?
No, you will need to create a new Stripe business account for use with your Auction through our platform.
Why can’t I proceed past the first step when setting up my account?
Most often, the reason that you are not able to move past the first step is because your organization does not have an EIN or is fiscally sponsored by another organization.
If this is the case, please contact our Support Team so we can investigate further.
Why does Stripe need to know the last four digits of my Social Security number?
Stripe’s website states that “This information is required as part of Stripe’s mandatory identity verification requirement: Stripe must collect, verify, and maintain information on the individuals associated with every US Stripe account, as required by our regulators and financial partners. This is intended to promote transparency and prevent individuals from using complex company structures to hide terrorist financing, money laundering, tax evasion, and other financial crimes.”
For the full article from Stripe, please click here.
I’m having an issue with my Bonterra Payments account. What can I do to resolve this?
We first recommend contacting our Support Team for further assistance.
How do I change the bank account linked to my Bonterra Payments account?
Please reach out to our Support Team to request this type of change – we're happy to facilitate that process for you.
How can I process a refund for a transaction made through Bonterra Payments?
Please contact our Support Team directly to process a refund for transactions made through Bonterra Payments. They will be able to submit the refund on your behalf to the appropriate parties, and will work with you to ensure that the donation is marked as "refunded" within your system.
Refunds will typically be processed within a business day, but it can take 5-10 business days for the charge to be reversed on your donor's statement.
NOTE: If refunds are processed more than 4 business days after the transaction, the donor/cardholder will have to work with the organization directly to get a refund. This is because funds officially transfer to the organization’s bank account after 5 business days.
Can I process a partial refund for a transaction made through Bonterra Payments?
No, at this time only full refunds are available for those transactions.
We recommend that in these situations, donors are refunded the full amount and then make a second, corrected contribution once the refund has processed.
How will my payouts via Bonterra Payments show up on my bank statements?
Donations received through Bonterra Payments will pay out with a statement descriptor of "BonterraTech.com", approximately 5 business days after the date of donation. These payouts also occur on a rolling basis.