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.
We've researched some of the options available for charities to open a bank account:
- 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.
- Westpac Community Solutions Cash Reserve – Designed for not-for-profit organisations looking for a savings account that earns a variable interest rate, and that want access to the funds at any time.
How does a not-for-profit account work?
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, but with special features. For instance, they may allow a number of people who are responsible for keeping track of the finances for the not-for-profit group to access the account.
Can I use a personal account for a charity?
Not all banks or financial institutions offer accounts for charities and not for profit organisations.
However, a charity's Responsible People have duties to ensure that the charity's financial affairs are managed responsibly. This means ensuring all the funds you collect are managed effectively and responsibly.
Legally, you are not required to open a charity account. However doing so will create a much more professional and streamlined process for managing your accounts and tax obligations.
Note that large charities with revenues of over $1 million must have their accounts audited by an ACNC-approved auditor each year, and in this instance, purpose-created charity accounts are advisable. Charities that earn revenue of less than $250,000 per year do not have to have their accounts audited, and medium-sized organisations (revenue of $250,000 to $1 million per year) can choose to either submit financial records which have been reviewed or audited.
Charity account vs community savings account
Some banks offer what's called a community savings account, 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 the interest their account earns to a charity of their choice.
These accounts allow you to choose a charity, then the bank will automatically make donations to the charity from your account each month. When you open a charity bank account and donate all interest to the named charity, no tax is payable on any interest earned.
Bank Accounts for charities and non-profit groups
More guides on Finder
-
Global Saving statistics
Australian households will save 4.8% of their disposable household income in 2025, equivalent to $2,716 per year.
-
Disposable income in Australia
Finder analysed earnings and living expenses to find out where Aussies have the most disposable income and where is the best place to retire.
-
Joint savings accounts
You can open a joint savings account with another person to save for a shared goal. Here's how they work and how to find the best joint savings account for you.
-
How to save $20,000 in a year
Wanting to save money doesn’t make it easier, but this free template helps.
-
Financial support for victims of domestic abuse
Financial difficulties can compound the problems faced by survivors of domestic violence. This guide includes a list of support services that can help, and advice on how to financially plan an exit strategy for abusive relationships.
-
Can you open a savings account for your grandchild in Australia?
Gift savings accounts are just the beginning for starting kids off on the right track to a secure financial future.
-
Compound interest and your savings account
A simple feature like compound interest can make a big difference in how your savings grow.
-
Compare high interest savings accounts
Kickstart your savings plan with a high interest savings account.
-
Best savings accounts Australia – expert picks
See some of the best savings accounts in Australia right now with high interest rates and no fees, plus tips to help you find the best savings account for you.
-
Savings interest calculator
Our range of simple calculators can help you plan your finances and compare potential interest earned.
Ask a question