I'm looking to create a website which has a similar concept to crowd funding where people can pledge money.
My aim is to have people pledge donations of very small amounts but when i get to a set amount only then will I deduct funds from their account.
For example a campaign might have an upper limit of 1,000,000. I'm going to allow people to pledge money to the campaign but with an assurance that the funds won't be debited from their account until that upper limit is reached.
From a financial point of view are there any systems out there that will enable something like this? i.e. Have like a hold on funds for an indefinite time in like a vault?
Or do I have to just debit funds from the peoples account at the time that they pledge and then refund the money's if the upper limit is not reached.