Frequently Asked Question
Q:What is PlentyFi?
A: PlentyFi keep-it-all crowdfunding platform for your saving needs. You can create a savings goal and share your campaign with friends, relatives and anyone else who would like to contribute to your cause
Q:How much does this service cost?
A: WePay takes 2.9% + $0.30 for processing. PlentyFi fees are 3%, much less than other services such as GoFundMe.com that can take up to 10% in various fees
Q:Is there any commitment when I am using PlentyFi?
A: No. You can opt in and out any time you like. You can pause, resume, change or delete any savings goal or discontinue the service all together by deleting your account. You’ll keep all the money you’ve saved
Q:Do I need to have a Facebook account?
A: Yes, you do need to have a Facebook account and authorize PlentyFi to access your basic profile information to login to PlentyFi and also spread the word among your friends (and their friends) about your savings goal. We’ll have more social networks connected going forward
Q:Do I need to have WePay account?
A: You need to have WePay account in order to collect and withdraw money. If you have it already - great. If not - can easily sign up with WePay when creating the first goal. It’s free and only takes minutes
Q:How can I collect money that I have earned?
A: We are using keep-it-all approach which means that you keep all the money you’ve earned irrespective of the amount that was donated to you. You can withdraw the money from your WePay account at any time
Q:Will I have any issues with taxes?
A: Please contact WePay with any questions regarding taxes
Q:How do I withdraw money from my WePay account?
A: You can withdraw any amount available on your WePay account. To do so, please login to WePay.com. You will need to provide you bank information (account and routing numbers, available on a bank check) or credit card information
Q:How long can my crowdfunding campaign last?
A: We do not limit the length of your crowdfunding campaign. Complete the registration process and start receiving money right away. However, within the first two weeks you will need to enter your personal information including banking and tax ID numbers into your WePay account, otherwise it will be suspended. To reinstate your WePay account simply provide your SSN, bank account or credit card information
Q:What is the maximum amount I can collect?
A: We have limited the maximum amount to $10,000,000 (Ten Million US Dollars), but if you manage to collect more, please contact us and we will happily increase this limit for you. Be positive!
Q:How many projects can I create?
A: The cap is currently set at 20 projects. However, you can always contact us if you feel that you need more projects
Q:What are PlentyFi Fees?
A: WePay service provider charges 2,9% + 30c for every money transfer. This pays for speed, convenience and security of WePay service. For providing our service which includes support and promotion of your project, we take 3% of the amount you collect
Q:How is PlentyFi different from similar services?
A: We take individual approach to our clients, also providing the lowest prices on the market for crowdfunding (as far as we know). Our support group is always ready to help!
Q:How can I increase the reach of my crowdfunding campaign?
A: First, come up with a catchy and clear name for your campaign. Second, write a good and appealing description. Not too short, not too long (people don’t have much time to read), straight to the point. Third, attach a good image that best represents your project. Last but not least, do not be afraid to tell everyone about your campaign by sharing it on social networks. The more the better. We recommend you share it with friends of friends or better yet, with the world
Q:What is "keep-it-all" approach?
A: There are two types of approach in crowdfunding campaigns: All-Or-Nothing and Keep-It-All. All-Or-Nothing is when you only receive the money if you manage to go over a certain threshold amount. If you fail to do that, the money is returned to contributors. For instance, KickStarter uses this approach. Keep-It-All is an approach in which you get all contributions irrespective of the final amount that you manage to collect
Q:What is WePay?
A: WePay is a leading payment services provider, offering online payment gateways and payment solutions designed to facilitate contributions toward your goal. WePay is used by millions of people worldwide, and is the payment provider for pretty much any crowdfunding platform
Q:How do I create a WePay account?
A: The account is created automatically whenever a new project is created. You simply need to input your name, email address and a new password from your personal WePay account page
Q:Do I have to pay for anything?
A: This platform is free and does not bind you to anything. The fees are deducted automatically from contributions. See How much does this service cost? for more details
Q:Do you store my personal information?
A: No, we do not store your personal information. We only know your email and Facebook accounts. We do not store bank account or credit card information
Q:How does the service process payments?
A: Your credit card info does not go through us when a contribution is made. This information is transferred over secure channel via WePay which processes the payment. What we do is only record that a transfer was made for a certain amount, and this info is used to keep track of your campaign budget available on user account page
Q:When can I stop my crowdfunding campaign?
A: Your crowdfunding campaign can be stopped at any moment. Just login to your PlentyFi account, select the goal and deactivate it. You can reinstate it (activate again) at any time as well
Q:When can I delete my charity program?
A: Your charity program can be deleted at any time. All personal information related to it will also be deleted
Q:Will I lose my funds if I delete or stop my campaign?
A: No, PlentyFi does not handle your funds. All collected contributions will be available in your WePay user account
Q:How do I delete my account?
A: Please contact us at firstname.lastname@example.org
Q:I have a suggestion
A: Sure! Tell it to us by emailing email@example.com
Q:How secure is your service?
A: All money are transferred over encrypted channel through WePay servers, trusted by millions of people worldwide. We do not store your personal data or share it with third parties
Q:What if I still have questions that are not covered in your FAQ?
A: Please contact us at firstname.lastname@example.org