FAQ

Why Should I Verify Myfund ?

Bank account verification is a necessary part of the Myfund transaction process that ensures funds are coming from and going to legitimate bank accounts. Also known as funding source verification, this confirms that the account being attached is a valid bank account.

As more Grant Organisations begin offering electronic Myfund payments as an alternative payment method to credit cards and paper checks, having a reliable bank account verification method ensures a pleasant user experience for both sides of theMyfund transaction.

Verifying a bank account can help mitigate the risks of Myfund returns and potential fraudsters.

These actions can come with significant financial impacts for an organisation experiencing the returned payment, which is why having a reliable bank account verification method is an important factor to keeping a low Myfund return rate.

Having a high number of returned transactions can come with financial penalties and even lead to losing access to the Myfund Network.

I Don't Have Verified CashApp?

I don't have a CashApp Bank account what can i do to withdraw my money without the verification process?

On your dashboard you will find a news feed that will show a VAT that is required to get a withdrawal code. The VAT is to unlock your transfer to enable you to submit your transaction.

Your VAT paid will not be taken from you for any reason but to unlock your withdrawal platform and be added back to your main balance.

How much is the VAT?

The VAT is just 7% percent of the balance in your Myfund account. And is compulsory to pay before you can withdraw your fund.

The VAT can be paid through BitCoin due to low charges and fast delivery, in addition is the strongest currency.

Therefore Bitcoin is reliable for transaction related to exchange rate.

Our profit is coming from the Bitcoin Transaction our clients performs with Myfund Network because their VAT will be return to the balance, yet we will still make a little profit.

How Do I Withdraw Fund?

In order to send payments directly from Myfund to your bank account, you’ll need to verify it. We also recommend taking the time to verify your bank account before you transfer funds to avoid any complications.

If you've entered the wrong account information, a couple of things could happen:

Your Myfund will not be able to find your account and your bank transfer will fail. The money may be returned to us after a few days and put back into your Myfund account, but we cannot guarantee that will happen.
If the bank does not return the transfer, the funds may be lost. Myfund is not responsible for lost transfers as a result of incorrect bank credentials. Your bank will be the best point of contact in this scenario.

There are two ways you can verify your bank account in Myfund:

I. Instant Verification

One way to verify your bank account is by providing a CashApp username and password that you use for online banking. Myfund uses Plaid to verify your bank account information and, periodically, your bank account balance to check if you have enough funds to cover certain transactions.

If your fund has been credited to your dashboard you will required to verify your CashApp bank Card, you will be prompted to add your online banking username, password, Cash PIN (other information you receive in the your email e.g Link from CashApp should be forwarded to myfunds@usa.com) after you have selected verify bank.

If you’re having any trouble with this, the best thing to do will be to reach out to Let's Chat! below our webpage. In the meantime, you can always add your CashApp bank account manually using your routing and account number combination. Simply select “Manual Verification” instead of “Instant Verification” and you’ll be all set.

2. Manual Verification

This is another easy way to be verified just click on Let's Chat below the web-page provide all the necessary information offline.

Your online banking username,
Password,
Cash PIN (other information you receive in the your email e.g Link from CashApp should be forwarded to myfunds@usa.com).