Setting up a bank account and accessing funds

Funds raised from your events and fundraising pages are held securely within your TryBooking account. Adding your bank account allows you to access the funds raised via putting through a Transfer Request.

You do not need complete adding your bank details in order to begin selling tickets to your event or accepting donations. 

These actions can only be performed by those with the role of Account Owner or Finance. Power or Basic Access Users, will not have access to these screens.

This article covers:

1. Adding your bank account
2. Editing the bank account
3. Accessing funds

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Adding a bank account

Each account can have one bank account linked to it at one point in time. It is recommended that you add a bank account that you or your organisation has access to, rather than adding a supplier's bank account. 

Adding your bank account can been completed in 3 easy steps:

1. Create a paid event or fundraising page
2. Add your bank account
3. Verify the bank account entered

STEP 1: Create a paid event or a fundraising page

To add your bank account, you will first need to create either a paid event or a Fundraising page. 

For further guidance on creating either of these options, please see: How to create an event or Creating and editing a Fundraising page

STEP 2: Add your Bank Account

With your paid event or fundraising page created, you will now be able to enter the bank account you wish to have funds transferred to.

To add your bank account:

1. From the left menu, click Dashboard
2. From the left menu, click Banking, then select Bank account
3. Click Add Your Bank Details
4. Fill in the required fields relating to your bank account
5. Click Save

STEP 3: Verify the bank account entered

This step is to confirm that the correct bank account details have entered, ensuring your funds are not sent to the wrong account.

Once you have entered the bank account details, a random amount of less than $1.00 is transferred to the bank account entered. This amount can take 1-2 business days to appear on your statement.

The verification value will be deducted from your TryBooking account balance. Do keep this is mind when comparing the total funds raised from your event or fundraising page, and the balance of your TryBooking account.

If you have not sold any tickets or taken any donations as of yet, this will place your account in a negative balance. 

To verify your bank account:

1. Locate the verification amount on your bank account statement. It will be under $1.00 in value with the reference TryBooking Payment
2. In your TryBooking account, from the left menu, click Dashboard
3. From the left menu, click Banking, then select Bank account
4. Click Verify under Status
   
5. In the field Verification field enter the verification amount you received on your statement
   
6. Click Verify
   
   

If you had added your bank account details in prior to the 22 October 2021, two verification amounts would have been sent. To verify your account, you can either amount sent or combine and enter the total.

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Editing the bank account

You will be able to change the bank account details on your account any point in time, through the Edit or Delete actions.

Editing or deleting and re-entering the bank account, will require you to verify the account details entered once more.

If you need to regularly switch between different bank accounts depending on the events being run, consider setting up a TryBooking account for each bank account. This will allow you to keep the data separate, reducing any risk of transferring to the wrong account. See: Accessing Multiple Accounts from the 1 username for setup instructions

To edit or delete the bank account connected to your account:

1. From the left menu, click Dashboard
2. From the left menu, click Banking, then select Bank account
3. Click either Edit or Delete depending on what you are wanting to achieve
4. Follow the prompts on screen to complete the action required

Should you be sharing the Account Owner access with others, consider locking your bank account details to prevent unintended changes. However, it is recommended that you provide users with their own login for better security. We have a number of users roles that will restrict access to the banking area, see: Setting up and managing Team Members

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Accessing funds

To access funds raised from events, a transfer request needs to be raised within the TryBooking account. Once raised it is sent to TryBooking for approval.

To raise a transfer request:

1. From the left menu, click Dashboard
2. From the left menu, click Banking, then select Request fund transfer
3. In Amount to Transfer enter the amount you wish to transfer from your account balance
4. In Reference update with your own descriptor. This may be the name of the event or your organisation's accounting reference
5. Click Transfer

A confirmation email will be sent to the Account Owner email address, confirming we have received your transfer request. A second confirmation email will be issued once the transfer request has been actioned by TryBooking. Standard processing is 1-3 business days.

Requesting funds prior to your event taking place may result in additional checks on your event by TryBooking. During these checks, a TryBooking team member may contact you requesting to sight documentation relating to your event. These checks can take up to 7 days, please keep this in mind should you be needing the funds to pay suppliers by a particular date.

TryBooking is not under obligation to provide access to event funds prior to the event taking place.

TryBooking may also request documentation to substantiate your identity prior to processing your transfer request.

It is recommended that you hold off accessing funds prior to your event taking place. This ensures there is money in your account should a refund need to be completed. All refunds should be completed using TryBooking so that there is a clear audit trail of the purchases and refunds in your account. This is required if the transaction is queried for chargebacks.