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The best banks for nonprofit organizations offer a free or low-fee business checking account , access to credit and ample online tools that help streamline your operations. We scoured our top-rated business accounts to find those with features and services tailored to nonprofit organizations. LendingClub is a top-rated online bank that offers traditional business solutions with a few added perks.
Unlimited fee-free transactions and cash deposits through ATM. Free ATM access worldwide. Unlimited rebates for fees charged by other banks when you use their ATMs. Account earns 1. Access to Autobooks — an invoicing and online payment software that allows you to create and send invoices, accept payments, generate reports and reconcile transactions for accounting.
Business loans through Accion Opportunity Fund. Merchant services and cash management solutions. The bank also offers a nonprofit business credit card that does not require a personal guarantor. Open your account online, in person or over the phone. Free nonprofit business checking includes 1, fee-free transactions and free cash deposits per year. A nonprofit account earns interest, but the rate is minimal APY of 0.
Nonprofit checking includes credit card payment processing additional fees apply. Bank business checking review. Business credit cards, including the U. Bank Mastercard Community Card, which does not require a personal guarantor. Business savings and money market accounts. Business lending program that includes term loans, real estate loans, equipment financing and business lines of credit. No monthly service fee, overdraft fees or minimum opening deposit.
Earn 1. No monthly fee for nonprofit organizations. No minimum balance or opening deposit requirement. Business lending program that includes term loans, real estate loans and business lines of credit. Discounted payroll services through Paycor. Merchant services through Worldpay. Localized nonprofit organizations may find a better fit with a community bank or credit union. These financial institutions typically offer business banking and lending services, but may be better aligned with your organization's mission than a national bank or for-profit financial institution.
Credit unions, for example, are also not-for-profit organizations. These banks and credit unions have a strong community focus and serve people who are often not served by mainstream banking institutions.
Consider the following factors when choosing a bank for your nonprofit:. Fees: Look for a bank that offers a free business checking account or has a specialized option designed for nonprofit organizations.
Accessibility: This can look different for every organization. Some nonprofits need online tools that help streamline operations. Others prioritize in-person banking and need easy branch access. Additional services: Business checking accounts are often the foundation of a business banking relationship, but as your organization grows you may need other business accounts to build savings, access credit or process donations and payments.
LendingClub: Best online bank for nonprofits U. LendingClub: Best online bank for nonprofits. NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service. Business checking. Additional services.
Bank: Best brick-and-mortar bank for nonprofits. Bluevine: Best non-bank option for nonprofits. Unlimited fee-free transactions. Business lines of credit available. Fifth Third Bank: Best regional bank for nonprofits. Community banks, credit unions and CDFIs. How to choose a bank for your nonprofit.
On a similar note Dive even deeper in Small Business. Explore Small Business.
Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page.
The Charity Charge Business Credit Card
The biggest difference between a non-profit organization and a business is that eligible non-profits have tax-exempt status with the government. Finding the right card for a non-profit can be tough, though, because it largely depends on where you spend your money and whether you have unique needs.
In the meantime, it may be good to have a credit card that provides an introductory APR promotion. The card also offers a great flat-rate Cardss program. If your organization is based out of an office, large or small, it may help to have a credit card that offers bonus rewards on some of your overhead expenses. Cash back earned is automatically credited to your statement. Rewards categories include:. After that, the APR is Whatever you do, Business Credit Cards For Non Profits the urge to go with the first offer you see.
Take time to shop around and compare several top business credit cards before choosing one. Also, keep in mind that many business credit cards require that you have good How To Pronounce Anurag excellent personal credit to get approved. This article was originally written on February Business Credit Cards For Non Profits, and updated on February 17, Ben Luthi. Ben Luthi is a personal finance and travel writer who loves helping consumers and business owners make better financial decisions.
His work has appeared in several publications and websites, including U. Have at it! We'd love to hear from Business Credit Cards For Non Profits and encourage a lively discussion among Creditt users. Please help us keep our site clean and protect yourself. Refrain from posting overtly promotional content, and avoid Vet Mx personal information such as bank account or phone numbers.
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