KickstarterForum.org

[InfiniteHorizonsUly]

This post is to help out future Kickstarter funders who made it to the green and find themselves in post project limbo. First of all, if you stayed up almost every night during your project, you may have days of sleep debt to pay back. I did not feel back to normal until 3 day post end date.

But, for me, it was as if a groove and way of life had been firmly established. Even though I do not have a live campaign, in truth, the real work has just begun and I am still burning the midnight oil.

Now, a little information about our Amazon Payment partners. 97% of the funds were collected on the day the campaign ended. For whatever reason I assumed that the 14 day waiting period was an average of how long it took for amazon to collect the pledges.

No, it is a simple 14 day freezing of assets.

Your funds become available on the 15th day.

But not really....

Now, you can purchase items that might pertain to your rewards via amazon.com, but if you need your capital transfered to your linked bank account, you must wait another 5-7 BUSINESS days until they arrive.

So,to help all of you plan your post campaign reward fufillment obligations, plan for 21 days post funding to have access to the funds.

[sbriggman]

This is good information that can help creators plan for delays... thanks for sharing this! I've heard from a lot of people who choose Indiegogo because of the big delay in receiving funds.

[InfiniteHorizonsUly]

Sal,
once again, the need and vital function (I almost want to call this site a prime mover, or THE prime mover for all creators on Kickstarter) of Kickstarter Forum strikes again!!

I would be lost without Crowdcrux, snoopcrowd, and this forum--I know their is corwdfunding forum.org, but the "look" is strange to me and just comes down to familiarity and is a feature of human beings....when I first found reddit and craigslist the simple look put me off, but soon became comfortable, like my spot on the sofa.

Anyway, Kickstarter says 14 days is how long it usually takes. This is not true. About 95% of my backers were charged on the 10th, when the campaign closed. Side note: I had a horrible week in sales, I thought the funds would be in my account, I have backed a few projects that are funded and ending soon I WILL MAKE SURE YOU ARE PAID, PLEASE DO NOT THINK I HAVE CANCELED OR WILL NOT PAY WHEN YOU SEE THE LITTLE ERROR AND EXCLAMATION POINT NEXT TO MY NAME ON YOUR BACKER REPORT DASHBOARD.

I also have not found this info whilst data mining the past 4 months (man, time is warped in this crowdfunding universe, it feels like 4 YEARS) but you can see who has been charged and who has not been charged on your backer report after you are funded.

Anyway, I called Amazon Payments. There are some things I really dislike about having to use amazon, but they have amazing customer service. You type in your phone number and can choose call back now or 5 minutes. Be careful! It seems like it is about 3 seconds after you type your number for them to call before your phone rings!!

I asked if I could transfer funds and start printing and shipping since most of the funds had been collected. They said no. The 14 day freeze was set in stone. Kickstarter takes the 5% commission right away. Also, for any future creators who need to plan out the financing side of things, depending on your bank, it will take 5-7 BUSINESS days until the funds arrive in your connected bank account(s).

So, most of my funds will be able to transfer on 1/25/14... But if my bank takes 7 days I will not have access--worse case scenario--until Feb 4th. This is HUGE for me....I promised my backers they would get their giclees in Feb....I may have to borrow money to make sure the prints arrive on time. I NEVER accounted for 21 days lag time between the project being funded and being able to purchase supplies and printing.

Roger at Evolve Digital has agreed to start proofing before I can pay him. He gets back on the 27th and is on a planned vacation. I have to let him know what is going on and find a way to pay him something. I can not lose him. I promised I would not say, but I saw a print from a New Yorker cover I recognized of a very famous person I admire.I asked if he was a fan of the figure depicted, yes, but the reason he had the print was he was sending the local artist his prints of the cover art. I then realized i had read about the artist due to a twitter "chatter war" that had erupted over the album art the artist had created for a famous music figure. Anyway, Roger and I connected over love of Malcolm Gladwell (I am listening to the audiobook of "Outliers" right now) and Seth Godin and he suggested I read and study Simon Sinek (who I highly recommend for all creators of crowdfunding projects). I have my fingers, toes and eyes crossed that he understands!!

[NinaGood]

This topic raises awareness about the intricacies of payment processing in online platforms. In scenarios like these, considering Amazon vs eBay Support might offer assistance for resolving payment-related queries. This thread showcases the shared experiences and challenges individuals face when dealing with online marketplaces and underscores the importance of reliable payment systems.