Network for Good offers direct deposit donation delivery to nonprofits who receive donation disbursements through our platform. 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.
Note: this does not apply to our customers who useWePay to process online donations.
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.
Note: As of March 2022, any customers who previously utilized Network for Good's DonateNow platform in the past will now have access to Network for Good's Giving System (DonateNow Lite). The process for these customers to sign up for direct deposit is the same as listed below.
What do I need to apply?
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".
- Follow the prompts to either connect via DirectLink, or provide the appropriate information to connect using the ManualLink (if appropriate).
What is the difference between the two options listed - DirectLink and ManualLink?
You will have two options to submit your paperless application.
The first is through our DirectLink option, which allows you to connect via Plaid. DirectLink uses Plaid in order to relay your nonprofit's bank account information securely for processing and review.
The second option is through our ManualLink option. ManualLink allows you to submit your nonprofit's bank information to our team without connecting to Plaid via the ManualLink.
Note: ManualLink may take up to 8 weeks to process. We strongly encourage you to connect using DirectLink unless you are otherwise unable to do so.
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 utilize the ManualLink option to connect and submit your application.
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 direct deposit application through the DirectLink is two weeks. ManualLink applications typically take up to 8 weeks to process.
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.