This article is for those who intend to transfer funds directly to a company or organization's bank account.
If you intend to transfer 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 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.
The person who sets up bank transfers for an organization must be a financial administrator, or decision-maker, for the business.
This would be someone who is authorized to handle funds on behalf of the organization, such as a/an:
- Owner
- President
- Treasurer
- Executive Director
- Authorized signer
They will need to enter their personal details, including the last 4 digits of their SSN or National ID number. If you are not a financial administrator or decision-maker, you can add this person as the beneficiary by selecting “Someone else's bank account” for “Whose account will the funds be transferred to?” 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. Be sure to include in your GoFundMe story how the funds will reach the ultimate recipient.
How to set up transfers
1. Select who’s receiving the donations
- If you are a financial administrator or decision-maker for the business, select “A business bank account”, then you’ll be able to connect the company’s bank account.
- If you are not a financial administrator or decision-maker but you’re in contact with someone who is, select “Someone else's bank account” to add them as the beneficiary. Then, you will send an email invitation to that person so 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 or decision-maker, select “Your bank account”. You will need to connect your personal bank account, then transfer the funds to the organization outside of GoFundMe. If you'll be receiving the funds to your own bank account, you'll also want to add how you'll deliver the funds to the company in your GoFundMe story.
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. Visit our payment partner's portal to enter information
From the Transfers area in your GoFundMe account, make sure your email is verified, and click "Get started”, then click “Continue to Adyen” or "Continue to Stripe" and you’ll be directed to our payment partner’s website.
3. Select your entity type and start entering your company's information
On Adyen, you can choose between three types of business transfers:
- Sole proprietorship (registered sole proprietor)
- Company (business is a separate legal entity from its owners-LLC, Corp, Inc.)
- Partnership or association (individual or company using a bank account in the name of a partnership or association-LLP, LLLP, GP)
Pick the entity type that aligns with or is closest to your business situation.
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 partner 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