Ready to start collecting money with MomClone Collect Money Lists?

 

Great! You can easily collect money right in your Signup Tool or Team Tool. Here are some tips for connecting your account to our trusted payment processing partner Stripe.

 

What you’ll need to get started:

 

  1. The bank account number and routing number where you want the funds to be deposited. If you’re confused about your bank’s routing number, just Google it. They are both typically located at the bottom of your check.
  2. The last four (4) digits of your social security number.
  3. Your Date of Birth
  4. The name, address, and website URL (or social media profile URL) of the organization or business that you’re collecting money for. [NOTE: If you are a room parent or team parent collecting money, we recommend that you use your school website or league website during the signup process, or perhaps the school’s or team’s Facebook page.]

 

Here’s how it works:

 

  • Click on Add Signup List
  • Select Collect Money List
  • Click on Set up your account
  • You’ll be redirected Stripe to setup your Stripe account

Tips for completing the STRIPE form:


Business address
  • If you are an individual collecting money for a school, we recommend using the school address.
  • If you are an individual collecting money for a team, we recommend using the league (or school) address.

 

 

 


 

Type of business:
  • Select Individual if you are collecting for something like a teacher or coach gift.
  • Select Nonprofit organization if you’re collecting funds that are being deposited into a nonprofit bank account.
  • The other options are self-explanatory.

Business website:
  • If collecting for a teacher or class, use a school website.
  • If collecting for a coach or team, use a league (or school) website.
  • Stripe allows your to share a social media profile link as an alternative. Make sure it’s a public profile (e.g. a PTA Facebook page).

 

 


Statement descriptor:
  • If you’re an individual, we recommend that you enter your name or initials and what you’re collecting for (e.g. “JPF / Varsity Huskies” or “Julie F / 5th Grade”

 


Customer support number:
  • If you’re an individual, use your cell phone number.
  • If you’re a company or nonprofit, use the phone number that Stripe or a “buyer” should use to get in contact with the right person. It’s best to use a cell phone number as Stripe may use it to verify your account.

 


 

Routing number and Account number:
  • The bank account number and routing number where you want the funds to be deposited. If you’re confused about your bank’s routing number, just Google it.

 


Frequently asked questions:


What are the fees for collecting money and who pays them?

 

  • A 5% service fee plus $0.50 per transaction is applied to the total purchase. The buyer pays the fees, which are added at checkout.

 

Example #1: Teacher Present Contribution = $10/student

Service fees = $10 * 0.05 = $0.50, plus a $0.50 transaction fee

So total service fees = $1.00

Total amount paid: $10.00 + $1.00 = $11.00 of which $10 will be deposited in the Organizer’s account.

 

 

Example #2: Sweats for soccer team = $50/player

Service fees = $50 * 0.05 = $2.50, plus a $0.50 transaction fee

So total service fees = $3.00

Total amount paid: $50.00 + $3.00 = $53.00 of which $50 will be deposited in the Organizer’s account.


Is there a minimum amount I can collect?

 

  • No.

Taxes

 


Refunds

 

  • “Buyers” can contact you (the “Seller”) for a refund. They will contact you via an email contact form (your email address will remain private). Refunds are handled via your Stripe dashboard and transaction fees cannot be recouped. How to issue refund here.

U.S. Funds Only

 

  • At this time, our Collect Money feature is limited to U.S. sellers collecting U.S. dollars.

How soon will I be able to start collecting money?

 

  • It takes anywhere from a few minutes to 2-7 days for Stripe to verify your account. They are very careful in order to prevent fraud.

How soon will the money appear in my bank account?