Though it's not our fault I must say I'm really sorry for all this we contacted them again, I'll let you know if there's something new...i honestly don't know why they charged you already because it's a fixed funding campaign and we don't get any money unless it's funded, so i don't understand this policy...anyways, I'll keep you updated
The reason is actually pretty simple. It's a financial concept called "float".
Let's pretend for a moment I bought you a gift card for US$50. You don't spend anything on it for a few months. Does the money just sit there? No, the money is taken by the retailer into a bank account - a really large account holding the cash value of all the cards issued - and they earn interest on that money while it sits there unused on your card. If you've ever carried a phone card or a public transit pass with a cash value attached to it, those earn their respective companies float as well. By collecting my cash and not returning it for weeks, IGG is earning float on my money.
I'm going to log in there and lodge a complaint, then I'm calling my bank in the morning to reverse the charge. It's just another nail in the coffin of IGG, in my opinion - I'll never back with them again.
EDIT: read this message I just sent them. I wonder if it will spark a fire under anyone's seat over there?
I've backed one project on your site. The money was charged to my debit card immediately, but the refund due to the project being canceled won't occur for almost four weeks, according to the message I received from the project creator - I'm being forced to wait until the scheduled end of the project.
This process is idiotic at best. There is no way on Earth I'm permitting the money to remain in someone else's account for that long and it should never have been charged against my account in the first place, not until the project was a done deal and successfully closed.
I'll be contacting my bank in the morning for an immediate reversal of the charge. You might consider a better means by which to make money other than using float, because that teeny bit of interest you earned cost you a potential backer. I will never back another IGG project again - been burned once, learned my lesson. I doubt that any of my forum's participants will be sticking around, either, after I've discussed this situation with them - all 10,000-plus of them...
Sincerely,
Don Boyer
Head Administrator and COO
PlayingCardForum.com
Affiliated with 52 Plus Joker, the North American Playing Card Collectors' Club