Bank accounts and reports

VAKOVAKO tries to be as transparent as possible towards its users, nonprofits and partners. On this page, you will find information about financial movements, quarterly reports, and the processing, receipt and settlement of payments.

Reporting

VAKOVAKO provides its users with regular reports on donations and annual impact reports, where you can find out the structure of received and sent donations, and other useful statistics. However, you will not find transaction costs here. These are covered by the VAKOVAKO project partners, led by the STARTEEPO financial group. Donating with VAKOVAKO is therefore completely free of charge for donors and nonprofits. 100% of donations are redistributed to the target causes.

Transparent accounts

VAKOVAKO uses ČSOB as its main bank, which is part of the Belgian financial group KBC Group N.V. This bank is primarily used to receive and send payments within the so-called SEPA region, for EUR, USD and CZK.

For the global region (outside the SEPA region) payment gateway, in case of a theoretical technical failure of the main CSOB payment gateway, the VAKOVAKO application uses the global Stripe service.

Unfortunately, Stripe does not offer the possibility of transparet online viewing of all transactions, however, all received payments are then forwarded to our transparent accounts after the larger amounts are aggregated.

VAKOVAKO has the ambition and plan to maximize efficiency within the first few years of its launch on the side of accepting payments from users around the world, currency conversions across more than 10 global currencies, and sending aggregated payments to nonprofits with the goal of becoming a global payment service.