Frequently Asked Questions
Learn more about how ChainFundIt helps you in fundraising, assisting others to fundraise, and managing your donations.
Questions about us
ChainFundIt encourages participants in crowdfunding campaigns to actively share and promote the campaign; as an act of kindness, and in exchange for financial reward. By so doing, the power of strength in numbers is leveraged to assist in achieving the fundraising campaign goal.
When a participant opts to chain a fundraising campaign, that participant (Chain Ambassadors) will receive a replica fundraising page for the fundraising campaign which the Chain Ambassador can actively share and promote across his or her social network.
The Chainfundit campaign page incorporates a “Chain” feature optionality in addition to the conventional “Donate” and “Share” functionality that exists on fundraising campaign pages from conventional crowdfunding platforms.
Chain Ambassadors will receive the specified chain commission in any and all successful donations on their Chain campaign pages.
Chaining fundraising campaigns helps to achieve four things:
- Extended reach for the campaign as more people share and promote
- Significantly enhanced probability of fundraising success; and
- Quicker fundraising!
- Quicker fundraising!
ChainFundIt is for any and everyone looking to fundraise for medical and life emergencies, business, financial support, funeral expenses, birthday gifts, etc.
ChainFundIt is a donation-based platform. we do not offer loan-based and investment-based crowdfunding services.
KYC means “Know Your Customer”.
This is a standard verification process to ensure compliance with local regulations.
The objective of asking for your KYC information is to prevent the platform from being used, by criminal elements for money laundering activities.
KYC details are used to verify the customers upon withdrawal of funds raised and in creating Virtual accounts.
Questions about fundraising
- Click on the menu option; and select whether you are creating the account for yourself, or for a loved one in need who will be the nominated beneficiary for the account
- Complete the quick and easy application form.
- If you are creating an account for yourself, kindly note you will be required to provide contact, KYC and bank account information before you can access funds raised. If you are creating for someone other than yourself, please ensure you inform the nominated individual before proceeding with the fundraising process.
- Upon creating a new account, you will receive an email:
- confirming your application, and asking you to proceed to login to your account.
- Once logged in to your dashboard, you can create a new campaign telling us the campaign title, amount you wish to raise and other details about your campaign.
- Submit your campaign draft and await a review from someone on the Team. Once approved, you will receive an email to that effect.
- That’s it – you can begin sharing and fundraising!
If you are creating an account for yourself kindly note that you will be required to send in your KYC information when your Fundraising campaign has been approved or when you want to withdraw from your fundraising campaign.
We request for the following information:
- Name
- E-mail address
- Phone number
- Phone number
- Proof of address
- Proof of Identification (International passport, National Insurance Card, Driver’s Licence)
- BVN
- Bank account details (to be used for pay-out of funds raised)
Please contact us at our support email with a withdraw request and we will process your funds as soon as possible.
ChainFundIt may assist in promoting your fundraising efforts by posting campaigns and carrying out awareness creation initiatives such as press releases, collaboration with content creators on Instagram Live, webinars, etc.
ChainFundIt Limited is a for profit organization and by virtue of this, there are fees associated to the value we provide to our community of family members, friends, colleagues and social groups. In addition to platform fees charged on amounts raised, Chain Ambassadors also receive a pre-defined Chain commission on a fundraising campaign.
Please visit the page for more information.
Campaign Organizers and Chain Ambassadors are to share actively and repeatedly with their immediate network of family and friends. It is advisable that you use a variety of social media channels e.g. twitter, Facebook, Instagram WhatsApp and email.
Virtual accounts help us create a NUBAN account number through our payment service provider (Paystack) in your name which we will roll out as part of the fundraising donation options.
To raise funds quicker for your fundraising campaign, the best option is for you to opt on the chain feature by chaining:
- First, ensure you have created a great and compelling campaign, explain why you need help/support, where applicable add details of the institution eg school, hospital, charity, etc., to include (name, address, phone number, email), objectives of the campaign and exactly how the funds will be used, amount required for the campaign, add compelling pictures.
- Once you are sure that your campaign content is top-notch, select the chain feature and set your chain percentage. This will help you get donations from total strangers, individuals from your network and your network’s network.
- Once approved, you will need to actively share and promote your fundraising campaign page on all social platforms e.g. Twitter, Facebook, Instagram, WhatsApp and Email.
Questions about donating
There are no costs associated with making donations on ChainFundIt.
Please note there may be charges associated from your bank, card services provider, or payment processors for charging your card/bank account for your intended donations.
Please visit the page for more information.
Donations can either be made online by card or direct debit, or by bank transfer to dedicated virtual bank accounts for the fundraising campaign in jurisdictions where this service is available.
ChainFundIt is not in the business of fund management.
We do not offer returns of any sort to Donors, campaign causes or Organisers, or Chain Ambassadors.
Questions about chaining campaigns
When you receive information on fundraising campaigns, whether via our social channels or via the social media networks, select the “chain” functionality and complete the quick application form signifying you are interested in chaining the fundraising campaign. Once your application is received and approved, a replica page of the fundraising campaign page will be sent to you via email and you can begin sharing and promoting the fundraising campaign!
A Replica fundraising campaign will be sent to you via email, and you can start sharing with your network.
There is no restriction to the number of fundraising campaigns you chain as a Chain Ambassador.
Chaining campaigns assists people in need of these funds to achieve their goals. So please do chain as many campaigns as you can.
Recent donations captured under your chain campaign page reflect donations that are specific to your page only. Thus, the total of all the recent donations reflected on your chain campaign page (and not the total amount raised for the campaign under the progress bar) can be used to track your donations on your chain page.
If your Chain request application is approved, you will be entitled to receive the chain commission pre-defined by the fundraising campaign organizer. Please note that this commission will only be paid on successful donations on your chain page for that particular fundraising campaign.
Any and all applicable commissions due a Chain Ambassador on a chained fundraising Campaign will be paid periodically or at the end of the campaign.
Please note that if for any reason the fundraising campaign is canceled and monies are needed to be refunded to the donor, no chain commissions will be payable in such instances.
Applicable commission will be subject to any and all income taxes payable in the jurisdiction of the Chain Ambassador and/or fundraising campaign. In any instance where such taxes are not deducted or withheld upon payment, ChainFundIt retains the right to demand for an immediate refund of these taxes from the Chain Ambassador (in which case such refund shall be effected within 10 business days), or deduct same from subsequent applicable commission’s payable on any other chained fundraising campaigns of the Chain Ambassador.
All you need to get started!
Ready to start your own fundraiser? If you’re looking for tips on successful fundraising or want to speak to a ChainFundIt representative, check out the Contact Us page.