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. And, electronic payments (EFT) 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 will EFTs make your life easier, the nonprofits you’re supporting will benefit too. EFT payments reduce the administrative burden on these often small-but-mighty operations, lower the cost of running their organization and make it easier for them to focus on what matters most: making an impact for those they serve. Unlike other corporate purpose software providers in the space, we send the majority (over 93% in 2022!) of donations processed through our platform electronically instead of by check in the mail.
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Five reasons why Benevity uses
electronic fund transfers
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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. -
EFTs don’t get lost in the mail.
There’s risk of the check getting lost due to an incorrect address or an organization not depositing the 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 $2.3 B in donations
to 250,000 nonprofits in 150 countries. - EFTs are instant.
These payments arrive in bank accounts instantly, and we automate tax receipting as well as provide the tools nonprofits and companies need to manage tracking and reporting. In 2022, we processed 93.4% of funds electronically which eliminated an estimated 1.1 million checks. - 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 we process 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 and we’ve seen that 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 $78 M in under two weeks.
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EFTs help ensure accuracy
Using electronic payments helps us verify that the funds your people donated are getting to the intended recipient quickly, and that the funds are accurate.
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