Non-Profit Business Checking Tips, Info & FAQs
For qualifying non-profit organizations with a low volume of monthly transactions
Your non-profit checking account will help your organization do business without incurring unnecessary overhead. There are no minimum opening deposit or balance requirements. You also don’t have to worry about monthly fees, fees for your first 500 transactions ($0.10/transaction after that), or paying for your first order of checks.
With a non-profit checking account, financing your organization doesn’t mean paying an exorbitant price in the process.
Starting a non-profit? Consider the following.
Are you thinking about starting a non-profit business? There are a number of reasons why this type of company is uniquely qualified to help you accomplish your goals. However, before you get started, it’s important that you understand the following tips to set up your non-profit for success.
1. Begin with a business plan.
Even if you’re intimately aware of the field your business is in and have years of experience, it’s paramount that you have a plan for moving forward. Keep in mind that this is something you can always adjust in the future, but you want a basic road map for success before you start getting busy.
2. How much can you do on your own?
Once you understand what it will take in terms of sales, marketing, managing cash flow, etc., it’s time to consider how much of this you can do on your own. While many small business owners are usually their own sole employees during the first year or two, it would be wise to find people who can help you in key areas where you lack qualifications. Bringing them on for contract work will get you the services your non-profit business needs without unnecessary costs.
3. Watch the overhead
Given the unique features of this kind of organization, you really need to pay attention to your overhead. One way to do this is with a non-profit checking account. It will give you the spending power you need, minus unnecessary fees. Review your expenses once a month to look for other ways you can preserve more of your revenues.
Can anyone make a deposit or complete a transaction on my business account?
Only authorized signers are able to complete transactions, however, anyone can make a deposit into this account and we will never divulge any information (e.g., account balance or recent transactions).
Can I remove or add someone from a business account?
Please contact your Financial Service Officer for assistance with your Non-Profit Checking Account.
How long does it take to open a Non-Profit Business Checking Account?
Once all the required documentation and signatures are gathered, a business account can be opened in less than two days, and often the same day.
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Non-Profit Business Checking Why United Texas
- No Monthly Service Fee
- Free Online Banking
- First 500 transactions/month are free
- Unlimited Online Bill Pay
- No Minimum Balance Requirements
Cassandra Moreau was very helpful and courteous to work with. She, like all the other employees, is why we are members of United Texas Credit Union.Vickie N., member since 1993
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Non-Profit Business Checking How it Works
How it Works
Become a member by opening a savings account.
Gather your supporting documents.
Open an account online or at a branch.
Complete our Non-Profit Business Checking Account documents and submit them.
Once approved, you can begin enjoying the benefits of your Non-Profit Business Checking Account.
Related Products & Services
You must have authorization to act on behalf of the non-profit to open a checking account.
Various fees apply to our Business Account Services. Rates and fees are subject to change without notice.
Credit card processing, payroll processing and check orders referred to third-party vendors