Crowdfunding is a quick and easy way of raising money using the internet and social media. You can raise large amounts through global donations to fund a social, medical, personal, or creative need. Campaigners use crowdfunding to pay for necessary medical treatments, including cancer care or a transplant, help a non-profit or a social cause, support disaster relief work, and even fund personal needs such as education or businesses.
Thousands fight for their lives daily from fatal diseases and unforeseen medical emergencies. With medical costs rising yearly, crowdfunding for medical treatment is an ideal source to accumulate funds. You receive the best medical services without exhausting your savings and lead a stress-free life post-recovery. Here are frequently asked questions:
How does crowdfunding work?
The act of raising money from large groups of people is called crowdfunding. Many contributors pool small investments to provide the capital needed to get a company or project off the ground. Individuals, charities, or companies can start a campaign for specific causes. Anyone can contribute to it and help them achieve the mission.
What are the benefits?
By raising a crowdfunding request on reputed platforms, you receive tools and services to make fundraising easy and quick. Start a fundraiser in less than five minutes. You get instant approvals and fund disbursals with 24×7 personalised expert support. The donors can donate through multiple channels, like Debit Card, Credit Card, cash, or Net Banking, and get tax benefits under Section 80G of the Income Tax Act.
How to start the fundraiser?
You can start the fundraiser in a few minutes. Click on start a fundraiser and enter your details, including your name, phone number and email. Add the details about your fundraiser, including a title, images, a story, beneficiary name, and goal amount. For example, if you are crowdfunding for bone marrow, add details of the condition and patient with supporting documents like medical reports, bills, and a doctor’s letter.
Within how long do you receive funds?
Fund transfers usually take one to three working days for domestic funds and seven to 10 working days for international funds. You can withdraw the funds before the campaign closes and settle your dues in emergencies.
How to withdraw funds?
Many cannot wait until the crowdfunding for medical treatment campaign closes and need to make payments to hospitals in parts. You can request partial or complete fund withdrawal before your fundraiser closes. Go to your dashboard, click ‘Withdraw Funds’, enter the amount you wish to withdraw, and upload the documents required.
Is there a limit on the fundraiser?
There is no limit on what you can collect. Unlike Medical Loans and Insurance, a fundraiser gets approved within 24 hours to ensure you can start raising money immediately. Campaigners have collected lakhs of rupees in less than 24 hours. You need not repay your donors, and there are no high-interest rates.
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