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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’s bank account. If you intend to transfer the funds to a personal bank account, please check out this article for more information. If you are trying to send funds directly to a charity, please review this article..

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

Specialist

Hi, I'm Matt. Just a heads up, the person who sets up bank transfers for an organization must be a financial administrator for the business.

This would be someone who is authorized to handle funds on behalf of the organization, such as a treasurer, vice president, or owner. They will need to enter their personal details, including the last 4 digits of their SSN. 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 flow. If you’re raising funds for a business, but you aren’t associated with them, you’ll need to transfer the funds to your personal bank account, 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”, 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. Then, you will 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 setup 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, then transfer the funds to the organization 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 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 owner details

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

Once these sections are complete 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 in on sections that say "incomplete", and review 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 titled "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 organization’s governmental registration, showing:
    • US - EIN or SSN for a sole proprietorship
    • UK/IE - Company number or roll number for a school
    • AU - Australian business number (AU)
    • IT - Codice fiscale
    • FR - SIRET number
    • ES - Número de Identificación Fiscal
    • DE - Handelsregisternummer
    • NL - Kamer van Koophandel (KvK)
    • Articles of incorporation, articles of association, certificate of incorporation; must show the organization’s registration number:
    • IRS 501(c) (3) determination letter (only applicable to US non-profit organizations) 
  • Bank statement for the organization, showing:
    • Bank logo or bank letterhead (must be issued by the bank)
    • Organization'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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