NONPROFIT CHECKING ACCOUNT

Do more good with a Nonprofit Checking account.

Open a specialty checking account tailored for nonprofit organizations of most sizes and budgets.

  • Minimize risk with fraud prevention tools

  • Transfer money and pay multiple billers at once

  • Gain access to nonprofit banking services

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What is a nonprofit checking account?

A nonprofit checking account is a no-fee, no-minimum balance account designed to match the unique cash flow and transaction needs of nonprofit organizations.

  • No monthly maintenance fees

  • No minimum balance restrictions

  • 1,800 free transactions annually1

  • 300 free cash deposit units per calendar year2

  • Options to earn interest (today’s rates3)

    Maintain the minimum balance to earn daily interest that’s credited to your account monthly.4

Apply now

  • No monthly maintenance fees

  • No minimum balance restrictions

  • 1,800 free transactions annually1

  • 300 free cash deposit units per calendar year2

  • Options to earn interest (today’s rates3)

    Maintain the minimum balance to earn daily interest that’s credited to your account monthly.4

Apply now

Not sure if this is the right account?

 Compare all checking accounts

Benefits included in every U.S. Bank business checking account

Fraud protection

Protect your business from check and credit card fraud and safeguard cardholder data in compliance with the Payment Card Industry Data Security Standard (PCI DSS). You’re covered with zero fraud liability5 for any unauthorized transactions.

Mobile and online banking

Review account statements, track your cash flow, transfer money, initiate ACH or wire payments and more with our award-winning mobile app6 and online banking.

Mobile check deposit

Deposit checks into your account simply by taking photos of your check in the U.S. Bank Mobile App.

U.S. Bank Business Visa® Debit Card

Use your business checking debit card to make purchases anywhere that accepts Visa. Plus, enroll in a discounts and rewards program sponsored by Visa.

Free transactions at U.S. Bank ATMs7

As a U.S. Bank account holder, enjoy zero fees at any of the 13,000 U.S. Bank ATMs nationwide.

Bill pay for business

Use bill pay in U.S. Bank online or mobile banking to review, track and pay all your bills in one secure place with the flexibility to use your credit card or checking account.

Get started with a U.S. Bank business checking account

Collect necessary documents for the application.

  • Your business’s Employer Identification Number (EIN) or tax ID number (sole proprietors can use the owner’s Social Security number)
  • Articles of Incorporation, Articles of Organization, or a charter or a similar legal document that indicates when your company was formed (not required for sole proprietors)
  • Government-issued photo ID and Social Security number for you and anyone else authorized to sign checks or make transactions on behalf of your organization
See all application requirements

Open your checking account.

After you’ve opened your account, move funds seamlessly.

Download the EZ Switch Kit (PDF)

Organizations like ours have to fight for every dollar to sustain our operations and to serve our community. Support like this [from U.S. Bank] gives us a little breathing room and enables us to provide broader, deeper services.

Chris Watson, executive director of Warm Springs Community Action Team

Read the story

More banking solutions for nonprofit organizations.

Learn how U.S. Bank can help your nonprofit pursue its mission with a dedicated suite of banking services and expert advice.

Resources include:

  • Donation and fundraising payment collection capabilities
  • Providing loans and lines of credit for nonprofits to help grow and facilitate capital investments
  • Cash management forecasting
Learn more

Common questions about bank accounts for nonprofit organizations

Having a business checking account offers several benefits. Managing your business finances effectively means keeping your personal and business finances separate. You can also track your business expenses, making it easier to monitor your financial health.

Also, a business checking account with a positive transaction history can contribute to building a strong credit profile for your business and help you when it comes time to apply for a business loan or line of credit.

Plus, for tax preparation purposes, a separate business checking account could simplify record keeping.

Nonprofit organizations may require multiple types of bank accounts to manage their finances. Common accounts for nonprofits to have include checking accounts and savings accounts.

A nonprofit checking account is typically the primary account for daily transactions such as receiving donations, paying bills and managing payroll. A savings account can be used to set aside extra funds for future projects, emergencies or reserves.

Other types of accounts a nonprofit may have include investment accounts and restricted fund accounts.

  

A dedicated account makes it easier to track donations and grants, and it can signal professionalism to potential donors.

Nonprofit checking accounts at U.S. Bank have no minimum balance requirement, but you’ll need at least $100 to open one.

Nonprofits need an EIN to open a bank account. You can apply for an EIN on the IRS website or by fax or email. Nonprofits can apply by phone only if they are outside of the US.

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Disclosures

  1. Transactions are $0.50 each once free transactions are surpassed. A transaction includes deposits and other credits, checks paid and other debits, ACH and deposited items, and signature and PIN based purchases made with a U.S. Bank Business Debit Card. The U.S. Bank Business Debit Card is issued by U.S. Bank National Association, pursuant to a license from Visa U.S.A. Inc.

  2. 300 free cash deposit units per calendar year. Cash deposit units are calculated by dividing each cash deposit amount by 100 and rounding the resulting value to a whole number. To determine rounding, less than $0.50/$50 is rounded down and more than or equal to $0.50/$50 is rounded up. Any deposit less than $150 equals one unit. Examples: $782.00 equals 8 units, $440.52 equals 4 units. Cash unit allowance applicable to all cash deposits in branch and through U.S. Bank partner ATMs, cash unit allowance not applicable to Cash Vault product. After annual free units the fee is $0.33 per unit.

  3. Interest rates subject to change without notice.

  4. Today's checking rates – Annual Percentage Yield (APY) is offered at the bank's discretion and subject to change without prior notice. Must maintain the minimum balance needed for each tier in order to earn the disclosed APY. The daily balance method is used to calculate interest on all deposit accounts. This method applies a daily periodic rate to the principal in the account each day. Interest on your check deposit begins to accrue on the business day we receive credit for the deposit on all accounts. Interest will be compounded daily and credited to your account monthly. If you close your account before interest is credited you will not receive the accrued interest. Account subject to the terms and conditions and fees associated with maintaining the account. Fees could reduce earnings on the account. FDIC insured to the maximum allowed by law.     

  5. Zero fraud liability – U.S. Bank provides zero fraud liability for unauthorized transactions. Cardholder must notify U.S. Bank promptly of any unauthorized use. Certain conditions and limitations may apply. See the Electronic Fund Transfers section in Your Deposit Account Agreement (PDF)  for details.

  6. Digital financial services benchmarking firm Keynova Group ranked U.S. Bank #1 for mobile banking apps in its Q3 2024 Mobile Banker Scorecard.

  7. ATM Transaction Fee. U.S. Bank will assess this fee for each ATM Transaction conducted at the Non-U.S. Bank ATM. Non-U.S. Bank ATMs are defined as any ATM that does not display the U.S. Bank logo in any manner, physically on the ATM or digitally on the screen.

    ATM Surcharge. Non-U.S. Bank ATM owners may apply a surcharge fee on ATM transactions at their ATMs. U.S. Bank participates in MoneyPass®, an ATM surcharge free network. To find MoneyPass ATM locations, select “visit the MoneyPass locator” at the bottom of our ATM locator search results to be taken to the MoneyPass website. If you use an ATM that uses the MoneyPass® Network and are charged a surcharge fee, please contact us at 800-USBANKS (872-2657) for a refund of the surcharge fee.

    Please refer to the Business Pricing Information section titled “Other Service Fees” for a summary of ATM Transaction fees.

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See the U.S. Bank Your Deposit Account Agreement booklet for additional disclosures applicable to deposit accounts. Other conditions and restrictions may apply. Terms may change without notice. For the most current information about packages and benefits available, contact your banker.

For additional information call 855-955-2760 or visit your local branch for a copy of Business Pricing Information disclosure or refer to Your Deposit Account Agreement (YDAA).

Eligibility requirements and restrictions apply. Please see the Digital Services Agreement for more information.

U.S. Bank and its representatives do not provide tax or legal advice. Your tax and financial situation is unique. You should consult your tax and/or legal advisor for advice and information concerning your particular situation.

The U.S. Bank Visa® Debit Card is issued by U.S. Bank National Association, pursuant to a license from Visa U.S.A. Inc.

Credit products offered by U.S. Bank National Association and are subject to normal credit approval and program guidelines. Some restrictions and fees may apply.

Deposit products are offered by U.S. Bank National Association. Member FDIC.

Financing under the Business Diversity Lending Program is subject to credit approval. Terms and conditions are subject to change.

Business Diversity Lending Program: To be eligible for the BDLP, your business must be at least 51% owned and operated by one or more individuals who are women, people of color and/or veterans. Demographic information regarding gender, race and veteran status is required only to determine eligibility for this program. U.S. Bank does not discriminate on this or any other prohibited basis.