ToucanWin.com’s Auctionpreneur Terms & Conditions. You as the Auctionpreneur are the responsible party in dealing with the auction winner and the terms are as you outline in the campaign. This means that ToucanWin.com is just a platform to help bring you and the bidders together. ToucanWin.com has NO control over the agreements, terms, or conditions between you and the bidders and how both parties decide in finalizing the auction. This is a contract or agreement between you and the bidder ONLY. We recommended that you learn how it works including how to set up and manage your campaign.
1) When creating a campaign, the Auctionpreneur can turn on and off this option anytime. You can turn it on from the beginning of the campaign or you can wait for a few weeks to see how the campaign is performing.
2) If an Auctionpreneur is interested in running a campaign on an item on the auction platform, they will submit an auction request to be reviewed and approved by ToucanWin.com.
3) Once the campaign is approved it becomes live and accepting pledges can begin.
4) When the Campaign has reached the end of the Pledge Period and the Pledge Goal is met, all pledges are then paid, an auction start time will be sent to all pledgers and their accounts will be given the Bid Tokens equal to the amount they Pledged dollar for dollar.
Money is then available to withdraw once the shipment is confirmed and approved by the campaigner. That’s it!
Funds generated on ToucanWin.com will be placed into your account. You will then have to decide how, when and where you want those funds sent. In order for banking institutions to accept direct deposits, you will be asked to provide the social security number for the person named on the deposit account, the name of the banking institution, the bank routing number, and the checking or savings account number. With the first withdrawal request, you will also be asked for your date of birth and address for security confirmation.
Pledges are received by credit card, and it typically takes the credit card companies five days to post payment requests. ToucanWIn.com has no control over the credit card process, but we find the average processing time to be about three to five days. For long-term campaigns, a recurring withdrawal request can be scheduled on your ToucanWIn.com campaign settings to transfer funds on either a daily, weekly, or monthly basis.
Anyone anywhere in the world can start a campaign through ToucanWin.com. However, as part of the laws that govern ToucanWin’s operations, we may have issues transferring funds outside the U.S. So a person outside the U.S. could start a campaign, but they may have to assign a beneficiary in the U.S. in order to withdraw the funds. ToucanWin's future payment operations outside of the United States will continue to expand or contract based on regulations put in place that are out of our control.
Yes! There are legal requirements for withdrawing funds that must be met, such as providing charitable identification and banking information. We encourage you to discuss your campaign with the church or charitable organization in advance so everyone knows what will be required when it comes time to withdraw your proceeds.
When it comes to taxes, we highly recommend that you talk to your accountant or CPA to understand your obligations. ToucanWin.com is not licensed or qualified to provide advice on tax matters. When speaking with your tax professional, be sure to let them know if your campaign is a personal campaign that may qualify as a personal gift, or if the donation is made to a registered 501c3 organization. If a tax professional tells you that the donations are deductible, the organization receiving the funds should be contacted about providing tax-deductible statements to your donors. Remember, cash donations will be administered by our merchant partners.
Yes! All of our ToucanWin's crowdfunded auctions have a Pledge Goal (aka Reserved Price or Minimum Price) option. Meaning that if an auction's pledge goal NEVER REACHES that threshold, then it will END without ever getting into an auction. Please keep in mind that the Auctionpreneur has the final say on their campaign and may choose to extend the Pledge Period in order to reach the Pledge Goal..
At ToucanWin.com, we believe in empowering Auctionpreneurs to bring their campaigns to life without any upfront costs or hidden fees. We've designed our platform to be completely free for Auctionpreneurs, so you can focus on achieving your goals and maximizing your success.
Unlike other platforms that charge hefty service fees, we've taken a different approach. ToucanWin.com generates revenue through the pledges and bids made by enthusiastic bidders. We are committed to ensuring that Auctionpreneurs reach their Pledge Goals, which is why we guarantee you'll receive the full amount set as your reserve price.
But that's not all – we go even further to support your success. When your campaign exceeds the Pledge Goal, you'll earn an additional 20% on all funds placed into your campaign above the goal. It's our way of rewarding your efforts and dedication.
At ToucanWin.com, we're in this together. We share in the remaining funds generated by the auction, allowing us to continue providing you with a top-notch platform and exceptional support.
So, as an Auctionpreneur, you can rest assured that creating a campaign on ToucanWin.com is not only cost-free but also a lucrative opportunity. Join our community of successful Auctionpreneurs and unlock the full potential of your products and services. Start your journey with us today and experience the excitement and rewards of our innovative auction platform.
Remember, when we say it's free, it's truly free – no gimmicks, no tricks, just a transparent and empowering experience for Auctionpreneurs like you.
Credit Card Processing Fee?
At ToucanWin.com, we understand the importance of providing a seamless and secure online payment experience for our Auctionpreneurs and bidders. To facilitate online pledges, bid purchases, and donations, we partner with a trusted credit card merchant account provider. It's a necessary component of any online transaction platform, including ours.
Just like any other platform, there is a credit card processing fee associated with using your credit card for pledges, bid purchases, and donations. This fee is standard across the industry and is charged by our merchant processor.
Rest assured that we have factored this fee into the overall pledge goal amount. It allows us to provide you with a smooth payment process and ensures that your campaign receives the necessary verification and confirmation of payments.
For all the online auctions that require payment verification and shipment confirmation, ToucanWin.com acts as the intermediary. We collect and disburse any payments on behalf of the fundraiser, streamlining the process and providing you with peace of mind.
If you'd like more information on how our online auction works and the entire process, we invite you to visit our Help/Training section. There, you'll find comprehensive details to guide you through every step.
At ToucanWin.com, we strive to make your auction experience as convenient and secure as possible. Join our platform today and discover the power of crowdFUNded auctions with ToucanWin.com.
Want to join the Auctionpreneur Program? Head over to the Auctionpreneur Application and let us know all about you and your products.
When will I get my money?
Funds typically appear in your bank account 3-5 days after a withdrawal is initiated.
How much money will I receive?
Your net balance as of 12 AM-midnight PST will be sent to your bank account it will then take 3-5 days for your bank to process and receive.
Why isn't my balance fully available?
A few reasons why your balance may not be fully available:
1. One or more payments have not been fully processed
2. Your bank account was not confirmed
3. There are reserves on the account