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How to transfer funds to a business account

This article is for those who intend to transfer the funds directly to a company bank account. If you intend to transfer the funds to a personal bank account, please see this article for more information. If you are trying to send funds directly to a charity, please see this article..

To send funds to a business account, you need to set up a standard GoFundMe fundraiser and then set up bank transfers using the business's bank account. Bear in mind that the same bank transfer information will apply to any additional fundraisers connected to this GoFundMe account.

Specialist

Hello, I'm Matt. Please note that the person who sets up bank transfers for an organisation must be a financial administrator for the business.

This is someone who is authorised to handle funds on behalf of the organisation, such as a treasurer, vice president or owner. If you are not a financial administrator, you can add this person as the beneficiary by selecting "someone else" for "who will receive the funds?" in the transfer set-up process. If you’re raising funds for a business and you aren’t associated with them, you’ll need to transfer the funds to your personal bank account and then send them to the business outside of GoFundMe.

How to set up transfers

1. Select who’s receiving the donations

  •  If you are a financial administrator for the business, select "I’ll be receiving the money" and then you’ll be able to connect the company’s bank account. 
  • If you are not a financial administrator but you’re in contact with someone who is, select "Someone else will receive the money to add them as the beneficiary. You will then send an email invitation to that person so that they can complete the bank transfer process. Please make sure they meet the requirements for bank transfers, and learn more about the beneficiary process here. Your part of the transfer set-up will be done at that point. 
  • If you do not know a financial administrator, select "I’ll be receiving the money". You will need to connect your personal bank account and then transfer the funds to the organisation outside of GoFundMe.

The remaining steps will be completed by the financial administrator, so if you’ve added a beneficiary, you won’t need to do anything else. If you have been added as a beneficiary, this is where your part in the process will start.

 

2. Link a bank account

Select "Business bank account", then click "Continue to Adyen" and you’ll be directed to our payment partner’s website.

3. Add your company details, bank details and business owners 

If you’re having trouble with any of these sections, please see our troubleshooting tips. If you’re sending funds to a club, trust account, or other unincorporated association, please read this article for further information.

Once these sections have been completed and verified, they will show up in green as "finished". If one does not show as "finished" but you have submitted the information, you may need to upload additional documents. Please check sections that say "incomplete" and see the steps below.

4. Upload documents for verification

Occasionally, our payment processor will need extra information to verify your transfers. When this happens you will receive an email with the subject line "Important Message from GoFundMe", and transfers will be paused until the necessary documents are uploaded and verified. 

You can submit the requested information via this form.

Documents may include: :

  • Government-issued ID for the beneficial owner
  • Copy of the organisation’s governmental registration, showing:
    • US - EIN or SSN for a sole proprietorship
    • UK/Ireland - Company number or roll number for a school
    • AU - Australian business number (AU)
    • IT - Codice fiscale
    • FR - Numéro SIRET
    • ES - Número de Identificación Fiscal
    • DE - Handelsregisternummer
    • NL - Kamer van Koophandel (KvK)
    • Articles of incorporation, articles of association, certificate of incorporation; must show the organisation’s registration number:
    • IRS 501(c) (3) determination letter (only applicable to US non-profit organisations) 
  • Bank statement for the organisation, showing:
    • Bank logo or bank letterhead (must be issued by the bank)
    • Organisation's name as the account holder
    • Bank account number entered in your GoFundMe account
    • Date shows it is less than 30 days old
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