Where does the money contributed to Collectives we fiscally host go?
Straight to the bank account attached to your Stripe account, which you connect when you set up as an Open Collective fiscal host.
How can we withdraw funds from the Collectives we host?
To withdraw funds, people submit receipts or invoices as Expenses.
Expenses go through a two-step approval process:
A core contributor (admin) of the individual Collective confirms that the expense is a valid use of funds for their project.
Then the host admin confirms that the expense meets requirements (such as having a valid receipt).
Then the expense can be paid out.
What payment methods do you support for withdrawals?
Right now, we only support PayPal and TransferWise for one-click payouts through the platform. You can manually record any money that you receive or send outside of the Open Collective platform (e.g. bank transfer, cryptocurrency, cash, etc). In the future, we hope to build other payout methods into the platform.