Remittance of contributions to Worthy Causes is done once a month, towards the end of each month.
All giving contributions are first accumulated in B1G1 Giving’s bank account. When the total contributions towards one Worthy Cause reaches US$500, that Worthy Cause gets added to the month’s remittance list. The US$500 threshold is set to minimise the bank transfer fees incurred and to ensure that each remittance is substantial and meaningful.
With every remittance that we send, your organization will receive a remittance advice that lists all the individual contributions received for that period as well as a summary of how much goes to which projects. All our Worthy Causes are required to acknowledge that they have received the funds and will be allocating it based on the breakdown on the summary and we do not send the next remittance until the previous one has been acknowledged. This is so we can ensure accountability for all the funds that our members give to these projects.
