When and how do we get paid out for payments made on BoostMySchool?
There are three options for receiving payouts on BoostMySchool. We recommend:
Setup: Provide business, bank account, and representative information on BoostMySchool.
Frequency of payouts: Weekly. Payments are rolled up weekly and the total amount minus fees is transfered to your bank account over the weekend.
Management fee charged?: Yes, see the pricing page for details. Donors can cover this fee on your behalf.
Main benefit for choosing this option: BoostMySchool handles all interactions with Stripe so you do not need to deal with another vendor.
Setup: Provide business, bank account, and representative information to create an account on Stripe. After your Stripe account has been approved, it’s one click to connect it to BoostMySchool.
Frequency of payouts: Either every 2 days, weekly, monthly, or manual - this setting is chosen in your Stripe account. Payments are rolled up based on this setting and the total amount minus fees is transfered to your bank account within 2 business days.
Management fee charged?: No.
Main benefit for choosing this option: Business office has access to features provided by a Stripe account.
Setup: Provide business information on BoostMySchool.
Frequency of payouts: Monthly. Payments are rolled up monthly and a check will be sent to your office with the total monthly amount minus fees.
Management fee charged?: Yes, see the pricing page for details. Donors can cover this fee on your behalf.
Main benefit for choosing this option: If your business office does not wish to provide bank account and/or representative information.