Network for Good offers direct deposit donation delivery to nonprofits who receive donation disbursements through our platform (Note: this does not apply to subscribing customers who have/had DonateNow or use WePay to process online donations). Instead of receiving a paper check in the mail, eligible organizations can apply to receive their future donation disbursements as a deposit directly into their bank account.
What is direct deposit (EFT)?
Direct deposit (also known as EFT) is a banking feature that allows for inter-bank deposits. Electronic Funds Transfer (EFT) describes the method for moving the funds. With this method, Network for Good can deposit your donation disbursement funds directly into a connected bank account.
Nonprofit organizations that have received a donation through Network for Good and its partners, via the Donor Advised Fund (DAF), can apply to receive their monthly disbursement payouts via direct deposit. Direct deposit is Network for Good’s suggested mechanism for donation disbursements.
To sign up for direct deposit, you'll need:
- Access to your nonprofit's 'My Account' portal through Network for Good’s Giving System. If you've not previously registered for this portal, you can do so by following the instructions below
- Information about your bank's authorized representative (name, title, phone number, email)
- Authorization from your nonprofit to engage in this activity
- Login information for your organization's bank account (username, password)
How do I apply?
- Log into the your Network for Good Giving System or “DonateNow Lite” account here using your nonprofit’s registered EIN and password.
- Go to the Direct Deposit section and select "Apply Now".
- Review and Accept the Giving System Agreement.
- Select "Get Started".
- Validate the NPO name, EIN, and address.
- Enter the authorized representative's contact information.
- Follow the steps to link bank account information.
What if my bank isn't listed?
There is a possibility that your bank is not listed when you reach the step to link your account. If this happens, please contact us at email@example.com and we’ll be happy to help.
How long does it take to get approved?
As each of our applications goes through a manual review for verification, applications are not approved or granted immediately. Turnaround time for approving a drrect deposit application is two weeks. However, depending on volume, this could vary.
Once an organization’s EFT application is approved by the operations team, the nonprofit contact listed on the application will receive an email if the application has been approved or rejected.
Is it secure?
To make direct deposit seamless, Network for Good uses a technology service called Plaid. Plaid is trusted by a long list of banks and financial institutions that have chosen to allow their account holders to authenticate through Plaid.
With Plaid, we allow you to sign into your bank account so that we can retrieve your bank account and routing numbers over a secure, end-to-end encrypted connection. With this information we can deposit funds directly into your account via Electronic Funds Transfer (EFT).
To read more about Plaid's security, click here.