If you run a Nonprofit Organization, first of all: congratulations! Secondly: you deserve to count on one of the best banks for nonprofits.

Even if you don’t have profit, it doesn’t mean you don’t need excellent money management, right? So keep reading to see what these banks have to offer you.

Many misunderstand what a nonprofit organization is. Most are charitable, but not every. Some don’t have profit and serve their communities in other ways.

Among NPOs, you can find churches, volunteer services, public schools, research institutes, and even museums. Each with a different purpose.

However, they all share one principle: no one is profiting from it. It doesn’t mean these organizations don’t have to deal with money.

Actually, NPO needs money to stay active and pay for their costs. It includes rent, material, feedstock, food, hygiene and cleaning products, paychecks, etc.

These will all serve the community and those in need, not one or two rich business owners who will take the profit into their tax havens.

With so many options, you must research their features, fees, customer support, and benefits.

You can opt for a checking or savings account. A good savings or money market account will increase the money to be reinvested.

To help you out, we’ve done our research too. In the following, you’ll find our top 6 best banks for nonprofits.

Read on and see which ones suit your needs and fit your style.

Truist has one made especially for you among its small business checking accounts.

The Truist Community Account was designed for nonprofit organizations.

First of all, it has no monthly fees. This is great to help you save money for more important things.

You can get debt cards for the NPO employees that need them and make the work done more efficiently.

Digital account management will also be a benefit.

In partnership with Fit Small Business, Bluevine developed one of the best accounts for small businesses – including nonprofits.

The Bluevine Business Checking account has no monthly fees or limits for monthly transactions.

Also, you’ll get up to 2% APY in your balance. That’s a high-yield account!

You can also access affordable funding options and manage your account easily with simplified bill payments.

Another one of the best banks for nonprofits has a special account for this purpose. The PNC Non-Profit checking account is worth a try.

The monthly fee will be waived by keeping a monthly minimum balance of $500. This is affordable for most organizations.

Moreover, you’ll get a debit card to make purchases – which is way better than checks or cash and improve your money management.

As one of the biggest banks in the country, U.S. Bank understands a lot about profit. But it will also support nonprofits with one of the accounts.

You don’t need a lot of money to open this account. In fact, you can start with a minimum $100 deposit.

You can earn interest, so the more you deposit, the better.

To move this money around, you’ll get a debit card and 1,800 free transactions per year. Online banking will make your financial life easier.

You can also hire additional U.S. Bank Nonprofit Business Checking Account options, like fraud prevention and remote check deposit.

If you’re looking for reliability, Bank of America is a good choice. This big bank has branches nationwide, so you’ll have no hard time.

This business account has every basic feature that a small business needs. Even if you’re a nonprofit, you will find great advantages using it.

However, this account charges a $16 monthly fee.

You can waive this fee by keeping a minimum $5,000 balance or making a minimum of $250 monthly in purchases.

TIAA believes your NPO deserves the best checking account. And we agree!

As we have already said, it’s not just because you’re not aiming for profit that you shouldn’t make your NPO money grow. Your cause needs funding!

To make the best of your hard-earned money, pick an account that allows you to yield at a good rate.

The TIAA Non-profit Checking APY ranges from 1.25% to 2.00%.

You won’t pay any monthly maintenance fee if you keep at least $5,000 deposited into your account. And to open it, you must place at least $1,500.

Every bank account will have its pros and cons. As you can see above, these banks are some of the best for nonprofits for many reasons.

Pay attention to fees and interest rates, and always read the fine print before hiring any financial product.

Running a Nonprofit Organization is a noble cause. Put your efforts into it and get the best financial assistance possible. That’s the key to success!

Do you want more tips about finances? Great! Keep reading a find out if a 650 credit score is good for your financial life!