A Question About Crowdfunding

I need some feedback regarding my crowdfunding campaign.

Because there’s a possibility that I may fail to raise the targeted sum, I wish to have a way to return the donations to the donors.

And there’s the free limited edition postcard offer. To send the postcard to the donors, I will need their mailing address.

For Paypal users, there’s no issue. I can use the Paypal Return button. And they can include their address in their email to my Paypal address. So that’s convenient.

HOWEVER, for those doing internet banking, how am I supposed to know their bank account number (for the purpose of refunding donations) or their mailing address?

So I plan to ask them to include their bank name and account number in the comment box when they send their donation via IB.

Also, at the same time, I will request them to send me an email with their name, bank account number, amount donated and mailing address. Because not only will I need to be able to return their donation should my campaign fail, I will also need to be able to mail them their complimentary postcard if my campaign is successful.

MORE IMPORTANTLY, I have decided to maintain a certain level of transparency throughout my campaign, so I will be listing each and every donation received on a daily basis (on my blog). And therein lies a problem I did not spot earlier.

If I do not ask donors to include their bank name account number when they send the money via IB and immediately follow up with the email, fraud could happen. If I list out each and every donation, without knowing who sent how much on my blog (in the name of transparency!), then any Tom, Dick and Harry could claim later on, via email or on my blog, that they sent this and that to me.

And if the actual donors decide to make their claim later on, after some other fraudster had already done so, this could lead to uncomfortable misunderstandings.

So the questions I want to ask are the following:

Do you think my crowdfunding method is too complicated? Do you think it would put potential donors off if I ask them to send me their bank account number, amount donated and mailing address?

If so, what alternative methods would you suggest? Feedback welcomed.

Teck Y. Loh


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Posted on September 29, 2016, in Uncategorized and tagged , , , , , , . Bookmark the permalink. Leave a comment.

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