Author Topic: Zelle for Non-profit (Small Business) Bank Account  (Read 762 times)

Online AsherO

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Re: Zelle for Non-profit (Small Business) Bank Account
« Reply #15 on: November 10, 2020, 12:25:57 PM »
Usbank has a free biz account, with zelle, 2.5% fee on zelle receiving

2.5% fee to receive Zelle? Thatís highway robbery.
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Offline Jayy

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Re: Zelle for Non-profit (Small Business) Bank Account
« Reply #16 on: November 10, 2020, 02:25:41 PM »
2.5% fee to receive Zelle? Thatís highway robbery.

Agreed. To others who plan on opening business accounts that can use zelle, I used the @ExGingi method and opened a BofA account. Can receive Zelle with no fees. Account fees are also waived if you spend 250 on linked card.

Also there is Paypal which offers "Giving Fund" for registered non-profits, which doesnt charge fees. Any other donation processing options out there that do not charge fees? shocking that i can't find one for non-profits that do not charge fees. they say account is free but they still charge processing fees.
Thanks

Online ExGingi

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Re: Zelle for Non-profit (Small Business) Bank Account
« Reply #17 on: November 10, 2020, 03:30:52 PM »
2.5% fee to receive Zelle? Thatís highway robbery.

Indeed.

While US Bank has some unique features which landed me with a no fee personal account with them (and CC), they are stuck in another decade (or century) with their Zelle offering (and some other things, their website being one of them).
I've been waiting over 5 years with bated breath for someone to say that!
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Offline lcm

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Re: Zelle for Non-profit (Small Business) Bank Account
« Reply #18 on: November 10, 2020, 04:56:42 PM »


Any other donation processing options out there that do not charge fees? shocking that i can't find one for non-profits that do not charge fees. they say account is free but they still charge processing fees.
Thanks

Aside from cashapp, I think facebook might have something.
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Online AsherO

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Re: Zelle for Non-profit (Small Business) Bank Account
« Reply #19 on: November 16, 2020, 08:19:57 AM »
shocking that i can't find one for non-profits that do not charge fees. they say account is free but they still charge processing fees.
Thanks

Doesnít surprise me considering that most of the merchant processing fees get kicked back to other parties, these ~2% in fees add up very quickly.
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Offline lcm

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Re: Zelle for Non-profit (Small Business) Bank Account
« Reply #20 on: November 19, 2020, 07:31:33 PM »
thanks for the replies!
@AsherO $1,500 isn't a deal-breaker but would rather not have 1,500 sitting around in the account. Chase fee is also waived if you have a private client account. unfortunately, I don't.

@ExGingi I just found out about the Bofa 250/ mo on card to waive fee and was going to just buy cards when they waive fee. but I like your idea better.

Any other ways to accept donations fee free? I applied for 501c3 and once I receive that I can apply for PayPal giving fund which has no fees.
https://forums.dansdeals.com/index.php?topic=121401.0

https://www.paypal.com/generosity-network/

Offline bennyc

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Re: Zelle for Non-profit (Small Business) Bank Account
« Reply #21 on: November 20, 2020, 08:36:50 AM »
its only a temporary campaign. Also paypal giving fund takes about 2 weeks to receive the money