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Standalone Account Sunset

Four years ago, we introduced Platform Accounts to FutureFund. Platform Accounts allow a single credit card charge when multiple funds are in an order. This greatly reduces confusion when parents would see multiple charges on their credit card statements. This also enabled additional features including: automatic dispute responses and resolution, enhanced reporting, simpler identity verification and KYC requirements, processing fees covered by parents, and much more. Since the launch, migrating from legacy standalone accounts to platform accounts has been optional, however virtually all schools have migrated.

Today, we are announcing the deprecation of standalone accounts. Starting June 30, 2022, your school will no longer be able to process credit card payments until you migrate all funds to platform accounts. This process takes a few minutes to complete:

  1. In the Store > Setup page, click the Migrate button next to each fund and enter the required information.
  2. Verify your statement descriptor in Settings > Account. The statement descriptor will appear on your parent's bank statement, depending on the format their bank uses. Statement descriptors are limited to between 5 and 18 characters.
  3. When all funds have been migrated, email letting us know to switch over the account to platform accounts.

If you have any questions about the account migration, please contact our support team by replying to this email.