Key takeaways
EFTs eliminate the administrative burden of paper checks for nonprofits — reducing processing costs, enabling faster impact, and automating tax receipting for donors.
In 2022, Benevity processed 93.4% of funds electronically, eliminating an estimated 1.1 million checks and delivering donations to 250,000 nonprofits across 150 countries.
Electronic payments are the only way to support many international causes — 100% of cross-border donations through Benevity are processed electronically, enabling crisis response like Ukraine, Sudan, and Türkiye-Syria relief.
Bringing your corporate purpose to life for all of your people means enabling them to support the causes they care about all around the world. Electronic fund transfers (EFTs) help you do that by sending funds accurately and quickly — locally or across borders.
Benevity sends over 93.4% of funds electronically, with a 99.1% delivery success rate. Not only do EFTs make your life easier, but the nonprofits you’re supporting benefit too. EFT payments reduce the administrative burden on these often small-but-mighty organizations, lower the cost of running their operations, and make it easier for them to focus on what matters most: making an impact for those they serve.
What are electronic payments?
An electronic payment is any means of transferring funds that doesn’t require cash or a paper check. To create even more efficiency and reliability, Benevity’s global disbursement engine bundles thousands of individual donations into one single monthly EFT payment — or sends funds more frequently during crisis situations.
Five reasons Benevity uses electronic fund transfers
1. EFTs cut down on manual administration time and costs for nonprofits
Processing paper checks comes with a lot of costly administrative work. The higher the cost, the less funding nonprofits are left with. Plus, nonprofits must deposit checks individually as they arrive and issue manual tax receipts to each donor.
2. EFTs don’t get lost in the mail
There’s always a risk of a check getting lost due to an incorrect address, or an organization not depositing checks at all. If your company makes a payment error, there’s a delay in supporting the nonprofit when and where it’s needed most.
Did you know? In 2022, Benevity processed over $2.3B in donations to 250,000 nonprofits in 150 countries.
3. EFTs are instant
These payments arrive in bank accounts instantly, and Benevity automates tax receipting while providing the tools nonprofits and companies need to manage tracking and reporting. In 2022, we processed 93.4% of funds electronically — eliminating an estimated 1.1 million checks.
4. EFTs are the only way to support many causes across borders
In some countries, especially outside of North America, nonprofit organizations simply no longer accept checks, so Benevity processes 100% of international donations electronically. Only 6.6% of payments through Benevity were sent by check in 2022 — and in North America only.
Benevity provides the most comprehensive global solution for corporate giving, and cross-border giving is most frequently connected to natural disaster relief efforts — including fundraising for those impacted by the war in Ukraine, the Sudan conflict, and the Türkiye-Syria earthquake.
Did you know? When the Ukraine crisis hit, Benevity’s client community donated over $78M in under two weeks.
5. EFTs help ensure accuracy
Using electronic payments helps verify that the funds your people donated are getting to the intended recipient quickly and that the amounts are accurate — giving both companies and nonprofits confidence in every transaction.
