Nonprofit Banking
Banking solutions that support your nonprofit mission.
You’re passionate about your organization. We’re here to help you make an impact with nonprofit bank accounts designed specifically for groups like yours. Our specialized team works with you to navigate challenges and capitalize on emerging opportunities.
Digital tools to strengthen your organization’s finances.
High APY
Grow your organization’s cash reserves with our high-yield accounts.
Fewer fees
You pay less fees, which means more money goes back into your nonprofit.
Money movement
More control of your accounts, and seamless check donations.
Remote deposit
Quickly and securely deposit check donations on your mobile device.
Superior nonprofit banking starts here.
Running your nonprofit is about more than just business; it’s about giving back to your local community. Our nonprofit bank accounts and services are tailored to help you achieve your unique mission.
Basic Business
Checking
No monthly maintenance fees, unlimited transactions, and access to more than 95,000 fee-free ATMs.
Business Premium Savings
Reach your business goals faster. Maximize your returns by earning 3.80% APY* with no monthly fees.
Nonprofit Money
Market
Earn a competitive rate, and get access to cost-saving cash management tools and a dedicated relationship manager.
Merchant Services
Process credit and debit card donations quickly and securely. We partner with Celero to bring you concierge-level service at a great price.
Payroll Services
Paying your employees has never been easier. With Roll™ by ADP®, you can complete payroll in under 60 seconds on your mobile device.
Choose the account that fits you best.
Whether you need a checking, savings, or money market account to achieve your nonprofit’s financial goals, we’ve got you covered.
Basic Business Checking | Business Premium Savings | Nonprofit Money Market | |
|---|---|---|---|
Flexibility | An operating account that’s low-cost and easy to maintain. | A high-interest rate account to help you store non-operating funds. | An account for maintaining a safe, secure cash balance, with check writing privileges. |
Monthly Maintenance Fees | $0 | $0 | $0 Maintain an average daily balance of $2,5001 |
Processing & Transaction Fees | None, unlimited | Up to 20 per month free, $0.30 for each thereafter | Up to 25 per month free, $0.30 for each thereafter |
Minimum Opening Deposit | $0 | $1,000 | $1,000 |
Interest Rate (APY) | N/A | 3.80%* | 0.20%* |
QuickBooks Integration | Free | Free | Free |
How to open a bank account for your nonprofit organization:
In three quick and easy steps, you're on your way to better business banking.
- 1Choose your account.
Select the accounts that fit your nonprofit the best.
- 2Gather your documents.
Have your documents ready and apply online in minutes.
- 3Get approved.
Once your business is verified, you’re ready to go.
Get award-winning online business banking.
For 25 years, Axos Bank has redefined business banking. Named among the best in class by Forbes Advisor and USA Today Blueprint, we combine innovation, flexibility, and growth with our digital-first, mobile-optimized platform.
Have questions? Let’s talk business.
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Nonprofit Banking Frequently Asked Questions
Can I open a bank account for a nonprofit?
Yes, you can open a bank account specifically designed for a nonprofit organization. Having a separate bank account for your nonprofit allows you to organize your finances efficiently, it makes fundraising easier, and it keeps you compliant for tax purposes.
What type of bank account should a nonprofit have?
It depends on what the specific needs are for your nonprofit. Axos offers business checking, savings, and money market accounts. In many cases, it’s wise to have multiple business bank accounts.
How do I open a nonprofit bank account?
Once you have decided which business bank account(s) is right for you, applying online with Axos is a quick and easy process. Have your proper documentation ready (for example, your filed 501c tax exemption form), and then submit your application for approval.
How much money can a nonprofit have in the bank?
There is no limit to the amount of money a nonprofit organization can have in the bank. Your business model and the nature of your organization will determine how much money you have in your business bank account(s).
What documents do I need to open a nonprofit bank account?
You’ll need your Employer Identification Number, Social Security number (if you’re a sole proprietor), ownership agreements, business license, articles of incorporation/organization, and your filed 501c tax exemption form (if applicable).