{"menuItems":[{"label":"Accounts for charities and non-profit groups","anchorName":"#accounts-for-charities-and-non-profit-groups"},{"label":"Bank Accounts for charities and non-profit groups","anchorName":"#bank-accounts-for-charities-and-non-profit-groups"},{"label":"How does a not-for-profit account work?","anchorName":"#how-does-a-not-for-profit-account-work"},{"label":"What are the benefits of applying for a community account?","anchorName":"#what-are-the-benefits-of-applying-for-a-community-account"},{"label":"Charity account vs community savings account","anchorName":"#charity-account-vs-community-savings-account"}]}
Accounts for charities and non-profit groups
If you're managing a charity or community group, a bank account designed for charities can help you manage donations, membership fees and other income. These work in the same way as a standard bank account or business account, except they're able to be opened by community groups and charities and give multiple people access to the account.
Some business bank accounts will allow charities and community groups to open an account if they have a registered ABN. However, there's also some accounts available specifically for non-profits and communities.
St.George Society Cheque Account
This account is designed for schools, charities, community and sporting groups and government agencies to manage their member donations. There are no monthly account keeping fees.
NAB Community Fee Saver Account
An everyday transaction account for not-for-profit organisations and community groups. You can link the account to a NAB Business Visa Debit Card to access your money.
BoQ Everyday Business Account for Not-For-Profits
You can open a BoQ Everyday Business Account and get some extra benefits as a Not-For-Profit customer. You can earn a small amount of interest on your monthly balance, plus link up to 10 Business Visa Debit Cards for free.
Bendigo Bank Not-For-Profit Everyday Account
Designed for Not-For-Profits, community groups and clubs this account has no account keeping fees and unlimited free branch withdrawals and transactions.
Beyond Bank Community Account
This is a bank account for non-profits, clubs and charity groups that pays a small amount of interest on the balance and charges no account fees and no transaction fees.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
A not-for-profit account is customised to meet the banking needs of organisations who collect those donations. These types of savings accounts provide all of the benefits of a typical savings account, helping your group earn even more money that can be put towards good use. Special features may include allowing access to a number of people who are responsible for keeping track of the finances for the not-for-profit group.
What are the benefits of applying for a community account?
Low fees. Depending on which bank or credit union you choose, you could find that the fees are lowered for savings accounts designed for charities.
Appropriate tax allocation. Not-for-profit groups can ensure that their funds are not being wrongfully taxed by providing the bank with their tax identification number (TFN).
Fund growth. Through interest earnings you are able to grow the funds that are deposited into the account.
Charity account vs community savings account
Some banks offer what's called a community savings account (or sometimes called a charity savings account). This can be confusing, but these aren't actually designed for charities to use.
Instead, these accounts are designed for everyday customers looking for an easy way to donate to a charity of their choice. These accounts allow you to choose a charity, then they'll automatically make donations to the charity from your account each month. You can choose how much to donate each month.
Shirley Liu is Finder's global program manager. She was previously the publisher for banking and investments and has also written comparisons for energy, money transfers, Uber Eats and many other topics. Shirley has a Master of Commerce and a Bachelor of Media, Journalism and Communications from the University of New South Wales. She is passionate about helping people find the best deal for their needs.
How likely would you be to recommend finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
Important information about this website
finder.com.au is one of Australia's leading comparison websites. We are committed to our readers and stands by our editorial principles
We try to take an open and transparent approach and provide a broad-based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labeling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
We make money by featuring products on our site. Compensation received from the providers featured on our site can influence which products we write about as well as where and how products appear on our page, but the order or placement of these products does not influence our assessment or opinions of them, nor is it an endorsement or recommendation for them.
Products marked as 'Top Pick', 'Promoted' or 'Advertisement' are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options.
Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment when you click on those buttons or apply for a product. You can learn more about how we make money.
When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity. We provide tools so you can sort and filter these lists to highlight features that matter to you.
Please note that the information published on our site should not be construed as personal advice and does not consider your personal needs and circumstances. While our site will provide you with factual information and general advice to help you make better decisions, it isn't a substitute for professional advice. You should consider whether the products or services featured on our site are appropriate for your needs. If you're unsure about anything, seek professional advice before you apply for any product or commit to any plan and read any disclosure documents (such as any Target Market Determination (TMD) and/or Product Disclosure Statement (PDS)) issued by the provider before making a decision.
Providing or obtaining an estimated insurance quote through us does not guarantee you can get the insurance. Acceptance by insurance companies is based on things like occupation, health and lifestyle. By providing you with the ability to apply for a credit card or loan, we are not guaranteeing that your application will be approved. Your application for credit products is subject to the Provider's terms and conditions as well as their application and lending criteria.
Please read our website terms of use and privacy policy for more information about our services and our approach to privacy.
