When you pledge, Hyve places a credit card hold at the max per person cost of the event. If the event is successfully funded by all guests, then at payment collection deadline we will refund you the difference between your pledged amount and the final per person cost. If the event isn't successful, then all the holds are released and no charges take place.
You will notice two items on your statement: One for the pledged credit card hold, and one for the actual payment into the event. The credit card hold will disappear from your statement after a few business days as it was never actually charged.
Ask the remaining friends if they would want to create a new event with a lower minimum capacity
Otherwise, if the event is under-budget by deadline, then no payments are collected and the event is cancelled. If money can not be collected from guests at payment collection (for reasons such as their card declining), then the collection deadline is postponed 8 hours and the host is notified so that the guest can fix their card information.
The max and min per person cost is shown to all attendees on the RSVP screen, and is calculated by the budget and min/max capacities set by the host. Once the payment collection deadline is reached, then Hyve charges everyone's card the same amount based on the event's final attendance (which must be between the min and max capacity). This ensures that everyone attending the event pays the same amount, and that there are no surprises!
Once Hyve collects a successfully funded event's budget, we will payout the host via their preferred payment method. With the money, the host can then pay the required event vendors (such as the venue, private chef, party bus, etc).